Alcore Betting Company Review: Bogus betting Ponzi
Alcore Betting Company provides no information on its website about who owns or runs the company.
Alcore Betting Company’s website domain (“alcore.club”) was privately registered on October 16th, 2019.
On YouTube Alcore Betting Company has this guy playing founder and CEO William Copper:
The man representing Copper has an eastern European accent, making him likely a Boris CEO actor.
Supporting this is Alcore Betting Company’s promo videos appearing to be shot in bare rented offices.
Also supporting this is the presence of Russian web assets used in Alcore Betting Company’s website source-code:
Behind the US, Alexa cites Russia as the second largest source of traffic to Alcore Betting Company’s website (9%).
As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.
Alcore Betting Company’s Products
Alcore Betting Company has no retailable products or services, with affiliates only able to market Alcore Betting Company affiliate membership itself.
Alcore Betting Company’s Compensation Plan
Alcore Betting Company affiliates invest funds on the promise of advertised returns.
- Basic – invest $50 to $499 and receive 1% to 1.5% a day for 10 days (110% to 115% ROI)
- Player – invest $500 to $4999 and receive 1.5% to 2% a day for 20 days (130% to 140% ROI)
- Master – invest $5000 to $49,999 and receive 2% to 2.5% a day for 30 days (160% to 175% ROI)
- Professional – invest $50,000 to $1,000,000 and receive 2.5% to 3% a day for 40 days (200% to 220% ROI)
- Expert – invest $50 to $1,000,000 and receive 3% to 4% a day for 180 days (640% to 820% ROI)
Residual Commissions
Alcore Betting Club pays residual commissions via a unilevel compensation structure.
A unilevel compensation structure places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them (level 1):
If any level 1 affiliates recruit new affiliates, they are placed on level 2 of the original affiliate’s unilevel team.
If any level 2 affiliates recruit new affiliates, they are placed on level 3 and so on and so forth down a theoretical infinite number of levels.
Alcore Betting Company caps payable unilevel team levels at eleven.
Residual commissions are paid out as a percentage of funds invested across these eleven levels based on rank:
- Level 1 (invest at least $50) – 5% on level 1 (personally recruited affiliates), 2% on levels 2 and 3 and 1% on level 4
- Level 2 (invest at least $1000 and convince others to invest $100,000) – 7% on level 1, 4% on level 2, 3% on level 3, 2% on level 4 and 1% on level 5
- Level 3 (invest at least $5000 and convince others to invest $500,000) – 8% on level 1, 4% on level 2, 3% on level 3, 2% on levels 4 and 5 and 1% on levels 6 and 7
- Level 4 (invest at least $10,000 and convince others to invest $3,000,000) – 9% on level 1, 6% on level 2, 5% on level 3, 2% on levels 4 to 7 and 1% on levels 8 and 9
- Level 5 (invest at least $20,000 and convince others to invest $10,000,000) – 12% on level 1, 9% on level 2, 7% on level 3, 4% on levels 3 to 6, 3% on level 7 and 1% on levels 8 to 11
Upon reaching Level 5, a one-time $100,000 bonus is paid out.
Joining Alcore Betting Company
Alcore Betting Company affiliate membership is tied to a minimum $50 investment.
Upon reaching a 200% maturity, reinvestment is required in order to continue earning.
Conclusion
By their own admission, Alcore Betting Company’s MLM opportunity offers passive income:
PASSIVE INCOME
Each “Alcore” customer can receive passive income from 1% to 4% per day.
MLM and passive income constitutes a securities offering, requiring Alcore Betting Company to register with financial regulators.
In the US, Alcore Betting Company’s primary source of investor revenue, that would be the SEC.
A search of the SEC’s Edgar database reveals Alcore Betting Company is not registered to offer securities in the US.
This means, despite anything else, Alcore Betting Company is operating illegally in its largest investor market. Promotion of unregistered securities in the US is also illegal.
Elsewhere in the world Alcore Betting Company is just as illegal, however securities regulation tends to lag behind the US.
As for Russia, I couldn’t even tell you offhand who regulates securities there. For all intents and purposes Russia is a wild west haven for scammers.
The ruse behind Alcore Betting Company’s offered returns is that they’re
a legal bookmaker with an official license, which gives the right to accept online sports betting for Europe, Asia, Latin America.
This is of course bollocks. Trying to appear legit, Alcore Betting Company laughably attempts to pass off basic UK incorporation as a betting license:
In addition to having nothing to with betting, UK incorporation is dirt cheap and effectively unregulated.
It is a favored jurisdiction for scammers looking to incorporate dodgy companies.
With the betting ruse out of the way, what we’re left with is a typical Ponzi scheme.
New Alcore Betting Company affiliates invest and existing affiliates steal their money through ROI withdrawals.
When withdrawals exceed the rate of new investment, Alcore Betting Company collapses and that’s that.
The math behind Ponzi schemes guarantees that when they collapse, the majority of participants lose money.
Update 4th August 2020 – Alcore Betting Club appears to have collapsed.
As of August 2nd Alcore’s website has been pulled offline. The company’s official YouTube channel has also been deleted.
The office address used for their UK incorporation, the Kennedy Centre in Belfast, is a shopping mall. Just what you’d expect from a company with a capital of £730 million.
Their website is also interesting.
The News section content is entirely stolen from the BBC, a straightforward copy & paste job.
At the top, there are four rotating stolen pictures of sports stars. I’m sure those people, and their teams, are very happy to see themselves used by a Russian betting scam. Or rather, a Ponzi scam only pretending to be a betting scam.
With one of these, who the interwebs tells me is NBA player Lebron James of the Cleveland Cavaliers, they’ve crudely photoshopped their name onto his shirt, as if they’re the team sponsor. That is such a dumb thing to do – wouldn’t anyone with an interest in sports notice that NBA jerseys don’t have a sponsor’s name there, but the name of the team?
(And when did Rafael Nadal start playing righthanded?)
Not that there was any doubt about them being Russian, but I thought that, just for fun, I’d also take a look at their fake office video. (As we know, all such scams are required by law to put one on Youtube.)
Generally, I was a bit disappointed. They do have a desk flag, but only one can be seen at any one time. So although it appears in different spots, it looks like they just had the one made and moved it around.
And no company mugs at all! They’re definitely cheapskates, unwilling to invest even in such basic props.
Also, they didn’t bother to hire any non-white extras. We know from plenty of other videos that they’re easily available in Moscow.
Everybody on that office set is not just hopelessly white, but hopelessly Slavic-looking as well. So very low marks for the video overall.
Right at the beginning, there was an unexpected little treat: they give their location as “Northen Ireland”. Misspelling your own country’s (as the British like to refer to the regions of the UK) name always inspires confidence.
But I was actually on the lookout for two other, specific things.
I found the first one at 0:58, and a second instance at 1:03: electricity sockets. UK ones are very distinctive, three-pin affairs. They have round, two-pin sockets on the walls. As used in Russia, but also the rest of Europe, so that in itself just conclusively proves this rented office isn’t anywhere in the UK.
The second thing I looked for makes it appearance at 2:46, and again at 2:39: cyrillic lettering. In this case, keyboards, on two different computers. They have a cyrillic layout, the QWERTY one with a Latin letter at the top left of the key, and a cyrillic letter bottom right.
As an unexpected bonus dead giveaway, at 3:22 a printer appears. That has a sticker saying “originalam.net” on it. That turns out to be a Moscow-based supplier of office equipment.
They clearly expect their clients to be mostly in Moscow, too, that’s the default location their website assigns to visitors.
Great detective work PassingBy. It may not matter because the scam is obvious without it, but it’s still impressive, like watching an elite player on the observation round of The Krypton Factor.
And Northern Ireland is a country. Has its own legal system and everything. East Anglia is a region (of England).
Remind me never to try to pull one on PassingBy, whose investigation and observation skills are second to none. Once again, PassingBy, we are not worthy!
I wonder if they chose the name “William Copper” on purpose, or misspelled “Cooper,” a far more common Anglo name. Oh, well, who cares?
Unless there’s a bunch of spoofing going on, begs the question why are dumbasses in the US falling for this then.
Great work PassingBy. As for the racial diversity of the office employees, people in Russia have a very strange understanding of the concept.
In an international context they believe that everyone who’s black and in a suit is African-American,
So in order to appear “international” these Russian scammers hire poor African exchange students (of which there’s a ton in Moscow) to appear “American” because their idea of “American” is based on Hollywood movies mostly.
Also on the topic of racial diversity and scammers, there was a non-MLM scam ran by Russians on Kickstarter/IndieGoGo, where they expanded on the concept of fake foreign employees by trying to pass a clearly Uzbek (Uzbekistani?) man as a “Japanese Designer”.
Japan isn’t the most multicultural place in the world but there’s nothing stopping an Uzbeki designer from moving to Japan and becoming Japanese.
Clearly the Russian scammers are just one step ahead of the rest of the world. Like the original Star Trek.
ALCORE company will give you return money till your luck, one fine day they all will disappear. So my dear friend you can play and win as a gambler.
Hello everyone! You did a great job. But it gets even better!
In the company presentation:
youtube.com/watch?v=JnPcuXzltq4&list=PLeJ1SBqpY1FVN9OlSIxO7ijDLiMZYCSlI&index=10
a roof with snow can be seen at 1:18 minutes behind the window.
The snow slides down at 1:20 minutes! I don’t know when was the last time it snowed on the “uk-island”?
Definitely well before 2018 :))!
Team, great research. Here in India its like a race to invest money in such scheme OR scam. I am unsure. Today I have been refer to this particular one and I was going through articles and blogs to gain some knowledge.
I appreciate views that this might a be a SCAM and anyone day they will be gone. But it’s certainly RISK as they are betting company. And as per my understanding I believe BETTING=RISK.
I am still unsure to take a call as of now. But thanks for sharing your views.
Cheers,
Jack
Alcore has nothing to do with betting or risk. It’s a Ponzi scheme in which the majority of participants will lose money.
They scam you it’s fake do not invest single $ on it.
they already left with all the money. a new scam.
Yeah I’m getting dumbasses sending emails asking me why they can’t log in to their Alcore account anymore.
Sorry for your loss etc.
20 June:
3 August:
That didn’t take long. Apparently “Copper” has come a cropper.
Why we are unable to login alcore club app and website. What’s the problem please explain.
When it will start again, when we will login again.
@Divya
The problem is you invested in a Ponzi scheme and now your money is gone. Sorry for your loss.
Haa haa haa haa haa haa
@Alcore Is it still not responding. Please let me if anyone know about this. Thank you
Alcore is a Ponzi scheme and your money is gone. Sorry for your loss.
My brother invested and gathered a team he lost everything.
I told homies alcove was trouble he lost over 500k USD.
Fun fact. If you go onto the scam’s facebook page and use the chat function, you can speak to whoever was behind this. He doesn’t seem to care that some people lost money. The good news is that he has some new projects coming soon. Look out for “Wiseling” and “Alioth”
FULLY BOGUS COMPANY. PLEASE PUT DONT YOUR HARD EARN MONEY. BECAUSE I LOST MY 255 DOLLAR.
I was looking for offices to rent in Moscow with brick walls and couldn’t find this one but I could find a renovated office with similar arched brick walls. So it’s probably offices in the same or similar building:
interiorzine.com/2015/11/23/moscow-office-space-renovated-by-4a-architekten/
@Passingby @BabuFrik
Further to my last comment, I think I might have found the office location; it looks like it’s possible to see the sloped roof from the building next door which is where the snow was seen in their promo video:
(55.7571087, 37.5955538)
William Copper is Vachtang Tevdorashvili apparently.
By the way I’m not 100% sure on the building location I mentioned above but I think it’s around that area.
I want my money Lost on August 2020. I Lost 580$ BTC AUGUST 2020.
Your money was stolen by scammers. This is how Ponzi schemes play out.
Sorry for your loss.