- Report: #225836
Complaint Review: Thorough Systems - Greg Shapkof - Ian White - Greg Williams - Brisbane
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Thorough Systems - Greg Shapkof - Ian White - Greg Williams
Level 30; A.M.P.Place; 10 Eagle St., Brisbane, Queensland, Australia. 4000 Brisbane, 4000 Australia
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Thorough Systems - Greg Shapkof - Ian White - Greg Williams Fraudulent claims regarding sports arbitraige betting. Took $thousands as participation fee, linked you to I.A.S. bet. and gambled all money away. There was NO arbitraige. money away ripoff Brisbane Queensland, Australia
I was initially contacted by Ian White, slick salesman for Thorough Systems, claiming to be a 'no risk' sports arbitraige trading company, who for a fee, and by ' using sophisticated software, and a world-wide network of traders' etc.,would trade on your behalf, with I.A.S.BET Aust.Most of their 'offices' were located on the gold coast, with just a physical address in Brisbane, to lend them respectibility.
After joining and depositing $1000.00 in a trading account, all contacts with the company was handled by customer service rep., Greg Williams.
A guarantee was signed, that all monies outlaid, would be refunded after 6 months, if a target figure had not been reached.
Despite growing concerns about both the legitimacy of the company, and vanishing money, they held to the myth, that the 'other leg' of the arb. betting would refund all losses made through I.A.S.BET and the arb. 'wins' on top of that would ensure our profits.
Eventually as the date of refund passed, they simply vanished, unable to be contacted, I.A.S.BET, has also failed to contact them.
Apparently 100s have been caught out with this scam, and many thousands of dollars have vanishe. along with this dishonest and disreputable company.
Fran
Brisbane
Australia
After joining and depositing $1000.00 in a trading account, all contacts with the company was handled by customer service rep., Greg Williams.
A guarantee was signed, that all monies outlaid, would be refunded after 6 months, if a target figure had not been reached.
Despite growing concerns about both the legitimacy of the company, and vanishing money, they held to the myth, that the 'other leg' of the arb. betting would refund all losses made through I.A.S.BET and the arb. 'wins' on top of that would ensure our profits.
Eventually as the date of refund passed, they simply vanished, unable to be contacted, I.A.S.BET, has also failed to contact them.
Apparently 100s have been caught out with this scam, and many thousands of dollars have vanishe. along with this dishonest and disreputable company.
Fran
Brisbane
Australia
1 Updates & Rebuttals
Thomas
Anderson,South Carolina,
U.S.A.
Wikipedia entry on sports arbitraging
#2Consumer Comment
Sun, December 17, 2006
From Wikipedia, the free encyclopedia Jump to: navigation, search Betting arbitrage or sports arbitraging is a particular case of arbitrage arising on betting markets due to either bookmakers' different opinions on event outcomes or plain errors. By placing one bet per each outcome with different betting companies, the bettor can make a profit. In the bettors' slang an arbitrage is often referred to as an arb. A typical arb is around 2%, often less, however 4%-5% are also normal and during some special events they might reach 20%. Arbitrage betting is usually done on the web by researching prices (odds) on betting web sites or subscribing to one of the arb-hunting services. ************** As an investment practice, it is not completely risk-free despite the commercially used terms 'no-risk' and risk-free betting. *************** Some of the risks include: * Price changes midway through the arbitrage bet * Bookmakers refusing to honour the wager * Bookmakers unable to remain solvent It involves relatively large sums of money (stakes are bigger than in normal betting) while another variety, betting investment, means placing relatively small bets systematically on overvalued odds most of which will lose but some win thus making a profit. So.... are you going to indulge in another "no-risk" bettors' gamble? Maybe you would be better off investing in real estate? You can at least visit real estate, check the land records, study the overall location... and as Will Rogers once said, "... They ain't making it anymore!"
