zaLambino
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25 March 2019 - 11:25am

CryptoJackpot, Scam? Yes? NO? Maybe? Need adivice from my fellow CL Members

6 replies • Last post

Hi Guys I need some of your valuable advice for the situation I have found myself in ,
Ok so I love playing at basic crypto gambling sites like stake and luckygames.io I normally browse the Bitcointalk forum to find new casinos that offer freebies for members and I came across one that was offering a 22$ no deposit bonus , this is where it starts getting weird , minimum bet at this site is 10$ you place the bet and randomly a player is chosen to take the pot of the bets placed, now on my second bet of 12$ with only a 0.90% chance of taking the pot I did and won the equivalent of 3000$ I was super excited and wanted to withdraw only to discover that to withdraw a minimum of 30$ is required to payout , fair enough but strange for this type of casino as others like it often don't require a deposit or at the very least a deposit of any denomination as love a 100 satoshis , So I investigated the profile of the member posting the no deposit at the bitcointalk forum as well as read the whole thread over the next few weeks to see what was going on with other players who took up the offer this is how it started
players were depositing the 30$ just to withdraw the 22$ no deposit bonus as it did not have a wagering requirement , they were successful , a few days passed and other players had some really big wins of double to five times my winning amount and they too deposited and then thier accounts were locked and no reason given as well as no reply from anyone , so after seeing this I forgot About it but every so often I check in just incase and since there have been more succesful withdrawal and the site also appears to now be affilatted with yolodice or that is at least the impression they trying to give , I now have 750$ in my account at this strange place and I am tempted to deposit the 30$ in hopes to receive my 750$ but I don't have a good feeling about it and it really does seem to good to be true ,
any thoughts my fellow members can share with me would be greatly appreciated

devomvom12
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25 March 2019 - 12:32pm
#1

i never heard of this one but iam not verry into this crypto currency thing
but to be honest...that smells like a hole fishmarket to me

Lambino

zaLambino
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25 March 2019 - 2:57pm
#2
vomvom12 wrote:

i never heard of this one but iam not verry into this crypto currency thing
but to be honest...that smells like a hole fishmarket to me

I think you are 100% correct in your assumption my friend , it is very dodgy I've attached a screenshot of the site to paint the picture a bit clearer

cryptocrappot.jpg
usbarbadosslim93
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25 March 2019 - 5:11pm
#3

There's no way I'd trust that website. The lack of gaming license or anything makes it so risky that it's not worth consideration. It's a LOT of risk IMHO.

Lambino

auCL-Ed
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25 March 2019 - 10:32pm
#4

In my experience the gambling section of bitcointalk (as opposed to other parts of the site which are really informative) is a cesspit of people running scams, shills working for casinos, and amateur casino affiliates. I had a bad experience there when helping out the player that was robbed by Betcoin Casino and Betsoft a few years ago. The constant harassment from shills and casino staff really turned me off from wanting to engage with anyone there. The ignorance, naivety, and sheer gullibility of posters defending those two bad actors was staggering.

I only say that to highlight that the no deposit bonus was almost certainly posted there in the first place in order to get you in so the poster could earn money from you and everyone else clicking the link (of course only after you deposit real funds). Now imagine they referred a bunch of people who all get a $22 no deposit bonus, then they all bet $10 to fund the jackpot and one person presumably wins a percentage of the pot with the site keeping a margin for itself. And there are no wagering requirements so you can withdraw straight away. How are they supposed to make money by doing that? The jackpot was funded by free money they gave away and as the site is a psuedo-anonymous crypto site there is nothing stopping people from claiming the no deposit bonus as many times as they want. It would be a reasonable assumption that most of the people playing are doing so on a freebie. Sure you could say they hope that the people will stick around and deposit and play more, but at best it sounds like a very naive marketing strategy.

The other elephant in the room is that if it is a crypto only casino, why do they require a deposit before paying out? This is done at traditional casinos as an identity verification technique to establish ownership of a payment method that can then be used for the withdrawal. One person may be able to create 50 different accounts to claim a no deposit bonus, but they are unlikely to have 50 different deposit methods in their name. But crypto is pseudo-anonymous and a deposit proves nothing other than you own the address that sent the funds. You deposit and withdraw to and from a different crypto address every single time, so it does nothing to prove your identity. So again why require the deposit? I think I know the answer and I think you do too.

3 sharpe, Lambino, xtober

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zaLambino
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26 March 2019 - 9:29am
#5

Thanks Ed everything that you saying is spot on and one in particular is the the required deposit that they require is not typical practice for crypto betting sites , the red flags are clear I guess , but it still is hard knowing I have a big balance just sitting there , but I dont wan to feel like a mug when I deposit and inevitably get scammed

auCL-Ed
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26 March 2019 - 10:02pm
#6

Look on the bright side: you didn't lose anything.

Always play it safe! Consult our list of rogue casinos and warnings before depositing at a new casino.
Post in our forums to earn CLchips which can be used to buy real prizes in our CLchips shop.

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