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)
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.
By their own admission, Alcore Betting Company’s MLM opportunity offers 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.