As a Professional sports-betting consultancy service with a large following, we feel obligated to inform site visitors about rogue betting companies. Following many complaints and our own experience, be aware of our 10bet & Premiumtradings black-listing.
WHO ARE 10BET & PREMIUM TRADINGS
To the best of our knowledge, 10bet Casino/Sportsbetting is owned by Avi Shemesh, and so is betting broker Premium Tradings. 10bet have UKGC (United Kingdom Gambling Commission), MGA (Malta gaming authority), and Republic of Ireland gambling licenses. The companies structure incorporates Bellona N.V. (Curacao) and Delasports (Gibraltar). The CEO of 10bet is Henry Korchia, while Adam Woods is the business developer of Premium Tradings!
10bet operate both a sports-book and casino. For the latter, they use Playtech, Microgaming, NetEnt, GamesOS/CTXM, Evolution Gaming, Betsoft, Play’n GO, iSoftBet, Gameplay Interactive, and Pragmatic Play software. The sports-book is a mish-mash of imported odds.
10bet have many white labels/skins, some are active, while others disappeared. The following are associated with this company; 377bet, Baymavi, Betfinal, Betfirst, Betfoot, Bethard, Betive, Betolay, Betrally, Betsat, Betstars, Betvision, Comeon, Fun88, Ganabet, Jbet, Jenningsbet, Jojobet, Justinbet, Knockout, luckia.es, Matrixbet, Mobilbet, Netbet, Norgesspil, Odeonbet, Ole777, Paradisewin, Propawin, Realdealbet (closed after ripping-off clients), Redbet, Redzonesports, Royrichie, Rubet, Sekabet, Setanta, Spilleautomater, Suomivegas, Superbetin, Sverigekronan, Tlcbet, and Winmasters.
As with 10bet, many of these partner/skins have a bad reputation for paying winning clients. Some of them disappeared with client money, and 10bet will not accept liability. As a consumer, you have no recourse to the courts when skins license in Curacao!
10BET RENEGE ON AFFILIATES
In the quest to find new customers, most bookmakers offer revenue share affiliate programs. Consumers sign up from a link/banner, and the website/blog owner is in for a share of the revenue generated from client losses. Oddsportal.com is an example of an affiliate portal!
10bet has a terrible reputation for reneging on affiliates and walking away from commitments. Once the partner slows down with customer acquisitions, they stop paying! Companies such has 10bet are stealing millions from partners and customers by not honouring payments.
10BET REFUSE TO PAY CLIENTS (THE TRICK)
Take a look at Rule 23 (terms and conditions). It allows 10bet to do as they wish, and thus avoid paying customers legitimate winnings. One person had over €6000 go missing from his customer account.
When 10bet where confronted, the excuse for not paying was collusion and covered by terms & conditions. Be aware, when clicking accept terms and conditions, you are giving them a get-out clause!
When visiting Ask Gamblers & Trust Pilot, the antics of 10bet become crystal clear. The policy on winners is slow or no pay. If you are too good for them and start winning, 10bet will ask for private documents which expose clients.
Excuses for not paying will go like this; We would like to confirm that we have internal evidence of collusion. Unfortunately, due to GDPR, we cannot provide details to you.
Here is the rule which just about covers 10bet for not paying anything:
FRAUD AND COLLUSION:
- A number of bets may be treated as being one when a Customer places multiple copies of the same bet. When this occurs all bets may be voided apart from the first bet struck. A number of bets that contain the same single selection may be treated as being one. When this occurs all bets may be voided apart from the first bet struck. An example would be where 1 particular selection is repeatedly included in Multiple bets involving other short-priced selections.
- Where there is evidence of a series of bets each containing the same (or very similar) selection(s) having been placed by or for the same individual or syndicate or individuals, 10Bet reserves the right to make bets void and suspend relevant accounts. This rule applies to both settled and unsettled bets.
- If you have played in a professional capacity, or in tandem with other Customer(s) as part of a club, group, etc., or placed bets or wagers in a coordinated manner with other Customer(s) involving the same (or materially the same) selections; in this instance we further reserve the right, at our sole discretion, to restrict the total maximum payout for the combined total of any such bets, to the equivalent of the Maximum Daily Payout limit permitted for a single Customer (as outlined at section 21 above). 10Bet is for sole use on an individual basis and for personal entertainment only.
- 10Bet allows only one account per person. Any subsequent accounts opened under the same postcode/personal details/IP address that are found to be related to any existing account may be closed immediately and any bets will be voided at 10Bet’s discretion. 10Bet reserves the right to reclaim any winnings attained by these means and we reserve the right to withhold all or part of your balance and/or recover from your account deposits, payouts, bonuses, any winnings that are attained by these means.
- Your play shall be reviewed for irregular betting patterns. Irregular betting shall mean: (1) equal, zero or low margin bets or hedge betting by placing multiple bets; and (2) placing multiple bets in order to circumvent any maximum bet limitation (as shown on the betting slip or as agreed with 10Bet). In case 10Bet identifies an irregular betting pattern, we may: (i) void all of the Customer’s bets which are linked to irregular betting, except for the bet placed first; or (ii) cancel any bonuses or promotions applied to your account and remove any subsequent winnings relating to the bonus or free bet.
10BET ARE DIRTY
Why would anyone in their right mind bet with this bookmaker? Only proven losers will get paid, and because you accepted terms & conditions there is bugger all you can do about it!
We report as we find, and from our experience Premium Tradings do pay. However, that alone does not make them trustworthy or reliable, and we will get to the reasons in a minute. Firstly, we want to say most Betting Brokers will pay because if not bookmakers would stop their account.
PREMIUMTRADINGS BETTING BROKER
Premium tradings (betting broker) provide anonymous betting accounts with Asian handicap bookmakers and betting exchanges. They handle payments, and for providing that service, they receive a share of bookmaker profits (position taking) or a commission on turnover.
We have had a Premium Tradings betting account in the past, so we are talking from experience and feedback;
In their own words, Premiumtradings is a unique betting brokerage established by some of the pioneers of the online sports betting industry. They write, If you have had enough with being constricted by limits or with being restricted or banned for winning, our PremiumTradings service is the solution!
Here is a list of reasons why we blacklisted PremiumTradings:
LYING TO LAND BIG ACCOUNTS
Here is a short story; A business colleague of ours uses a different broker, but he was getting more limited on his SBO account. He asked Premiumtradings if they could offer higher limits, to which they answered yes, but it was not true!
If you are not familiar with betting brokers, let me clarify something. Bookmakers set maximum betting limits, and not betting brokers.
Standard SBO contracts ask agents to hold (position take) a minimum 60% of the bet. To circumvent this problem, brokers not wanting risk will restrict customers to 40% of maximum stakes. For example, if the bookmaker maximum is 1000, the agent limit is 400!
Back to the story, our colleague soon found out limits were the same with PremiumTradings. With the promise broken, he asked for his test deposit of 7K to be refunded. Despite misinforming him, they charged €420 for withdrawing the balance. That followed another €160 from his initial deposit, so he lost €580 without placing a bet!
HIDDEN TERMS & CONDITIONS
As with 10bet, PremiumTradings are a devious company when it comes to terms and conditions. If you visit their slow-loading website, you will struggle to find the text containing fees. Here it is;
The charge for deposits under 10k is 2-3%. And, then comes clause five in which they can deduct up to 10%;
5. If you decide to close your betting accounts for any reason or make a full/partial withdrawal of your available funds, you need to make sure you have accumulated a total activity of at least 10 times the amount of each of your deposits. Otherwise, PremiumTradings reserves the right to charge you with an administrative fee which varies between 3-10% of the deposit amount.
PREMIUMTRADINGS THE DARK SIDE
In 2017 PremiumTradings refused to pay a sub-agent €265,000. It was clients clash, and in his own words, it left him in a dangerous situation. The agent wrote in a forum;
When I woke up on the 15th of February, I noticed 265000€ was missing from my pinbet88 (Pinnacle) account. When I asked PremiumTradings, they told me they took it according to their T&Cs. I said this rule does not exist, and we do not have such an agreement.
For the full conversation visit this link on SBR; Sportsbookreview
Premiumtradings claimed maximum winning limits of €50,000 a day (terms & conditions). However, as previously mentioned, bookmakers set maximum limits and if they take the bet they pay. For the record, the account was with Pinbet888 (Pinnacle sports), and this is what they quote on the Pinnacle website:
Pinnacle Winners Welcome policy, meaning that no matter how much or how often a bettor wins, they are always welcome to bet again. Additionally, we offer the highest limits online – our volume-based model means we are happy to take bets of up to $1,000,000.
PREMIUMTRADINGS – CONNED WITH GRADE TWO ODDS
In 2014 when we used PremiumTradings, we soon noticed that the odds offered in our Pinnacle, IBC, ISN, and SBO were shorter than betting direct!
When I confronted Adam Woods, he said, oh I did not know you requested grade one odds! Suffice to say they were looking to pocket the difference!
That was the end of that, and from our accounts alone it must have cost them 200 million in turnover!
One final thought, if you are losing a load of money, any bookmaker will pay winnings!