Bet Traders Review: Stealth BeWiseTrader Ponzi reboot?
There is no information on the Bet Traders website indicating who owns or runs the business.
The Bet Traders website domain (“bettraders.win”) was registered on the 13th of September 2015, however the domain registration is set to private.
Further research reveals the Bet Traders website hosts the logo of BidCash (right).
BidCash launched in late 2014 and under the guise of running a separate penny auction site, offered affiliates participation in a chain-recruitment scheme.
BidCash affiliates paid $90 to $11,350 for membership, with how much paid dictating how much of a residual commission they earned on recruitment.
The last post on the BidCash official Facebook page was July 2015, suggesting the scheme has since collapsed.
There is no information on the BidCash website indicating who owns or runs the business, but the BidCash domain is registered to “Juan Marcillio”.
Possibly due to language barriers I was unable to find any further information on Marcillio.
Either way, it would appear Marcillio is also behind Bet Traders.
Read on for a full review of the Bet Traders MLM business opportunity.
The Bet Traders Product Line
Bet Traders has no retailable products or services, with affiliates only able to market Bet Traders affiliate membership itself.
The Bet Traders Compensation Plan
The Bet Traders compensation plan sees affiliates pay a $360 to $7850 fee, with passive ROI and recruitment commissions on offer.
Direct Recruitment Commissions
Bet Traders affiliates are directly paid to recruit new affiliates.
How much of a recruitment commission is paid out is determined by how much a newly recruited affiliate spends on their membership:
- Basic ($310) – $31
- Bronze ($570) – $57
- Silver ($780) – $78
- Gold ($1300) – $130
- Expert ($3900) – $390
- Enterprise ($7800) – $780
Residual Recruitment Commissions
Residual recruitment commissions in Bet Traders are paid out via a binary compensation structure.
A binary compensation structure places an affiliate at the top of a binary team, split into two sides (left and right):
Positions in the binary team are filled via direct or indirect recruitment, with commissions paid based on volume generated on both sides.
Volume is generated based on how much newly recruited affiliates spend on their Bet Traders membership:
- Basic – 50 points
- Bronze – 100 points
- Silver – 150
- Gold – 250
- Expert – 750
- Enterprise – 1500
At the end of each day, volume generated on both sides of the binary is calculated, with a 50% commission paid on volume generated on the weaker side.
Note that binary commissions are capped at $1250 per day.
Generation Bonus
The Generation Bonus is a secondary recruitment commission, paid out 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 go on to 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.
Bet Traders cap payable unilevel levels at ten, with a 5% commission paid on the affiliate packages purchased by affiliates within the unilevel team.
Monthly Activation Bonus
Another secondary recruitment commission, the Monthly Activation Bonus is paid out of monthly fees all Bet Traders affiliates must pay.
How much of a monthly fee is charged depends on which affiliate package is purchased:
- Basic – $10 a month
- Bronze – $16 a month
- Silver – $22 a month
- Gold – $45 a month
- Expert – $120 a month
- Enterprise – $150 a month
The bonus itself is paid out via a reverse unilevel, distributing recruited affiliate’s monthly fees at a rate of 20% up five levels.
20% is paid to the affiliate who recruited the affiliate paying the fee, 20% to their upline (the affiliate who recruited them), 20% to their upline and so on and so forth for two more levels.
Passive Monthly ROI
Each Bet Traders affiliate package comes with a 26% a month ROI payout.
Based on the cost of each affiliate package, this works out as follows:
- Basic ($310) – $80.60 ($20.15 a week)
- Bronze ($570) – $148.20 ($37 a week)
- Silver ($780) – $202.80 ($50.70 a week)
- Gold ($1300) – $338 ($84.50 a week)
- Expert ($3900) – $1014 ($253.50 a week)
- Enterprise ($7800) – $2028 ($507 a week)
ROIs in Bet Traders are paid out weekly for 12 months.
Career Rewards
Career Rewards are based on the accumulation of points in a Bet Traders affiliate’s weaker binary side.
As the following point milestones are reached, Bet Traders affiliates are rewarded with the following incentives:
- 16,000 points = “tablet”
- 32,000 points = “ultra book”
- 160,000 points = Rolex watch
- 550,000 points = “dream trip”
- 1,000,000 points = Audi A7 car
- 2,000,000 points = Porsche 911 car
Joining Bet Traders
Affiliate membership with Bet Traders is $50.
Affiliates must also then purchase one of the following packages:
- Basic – $310
- Bronze – $570
- Silver – $780
- Gold – $1300
- Expert – $3900
- Enterprise – $7800
Monthly fees are charged as follows, based on which of the above packages is purchased:
- Basic – $10 a month
- Bronze – $16 a month
- Silver – $22 a month
- Gold – $45 a month
- Expert – $120 a month
- Enterprise – $150 a month
Conclusion
BetTraders is a leader in understanding and leveraging the power of sports data.
We occupy a unique position of the sports trading. This creates an exciting and fast-moving working environment that rewards creative thinking and hard work.
We are operating in the sports trading prediction market in Japan USA China with the central base in London. This is a global company…
One of the first things that struck me about Bet Traders were the inherent similarities between it and BeWise Trader.
Curious as to the status of BeWise Trader, I headed over to their website only to find it had been taken down. Launched back in May, the BeWise Trader Ponzi scheme had already collapsed.
And now I was looking at what appeared to be a pretty similar clone.
- both BeWise Traders prominently feature Portuguese as a native language in marketing material
- both BeWise Traders claim to have offices in London (Regus virtual mailbox addresses)
- both BeWise Traders claim to share profits on secretive sports betting
- both BeWise Traders see affiliates invest, earn a passive ROI and get paid to recruit new investors
Even the presentation of the affiliate investment packages between the two companies are similar.
Here’s BeWise Trader:
And Bet Traders:
Whether BeWise Trader management are involved in Bet Traders is unclear, but I wouldn’t at all be surprised to learn they were. If not, then at the very least Bet Traders is closely modeled on Bet Trader before it.
When coupled with the lack of information about Juan Marcillio and who is running Bet Traders on their website, things look pretty suspicious.
And let us not forget that BeWise Trader itself was a reboot of the failed GooBets scheme, which again used a sports betting front-end to facilitate Ponzi fraud.
Bet Traders itself is quite obviously a Ponzi scheme, with the 26% a month ROIs offered for a year resulting in a nearly 300% ROI liability.
When coupled with recruitment payouts, the funds entering Bet Traders is quickly exhausted.
Supposedly betting tips are provided to Bet Traders affiliates, but like in GooBets and BetWise Trader before it, have nothing to do with the MLM opportunity.
You do not need to refer to earn with Bettraders, but you will earn faster if you do.
Recruitment commissions add an additional pyramid scheme layer to Bet Traders, making it a Ponzi pyramid hybrid.
As with all such schemes, once recruitment of new investors dies down the scheme collapses.
This will first manifest itself by way of binary commissions slowing down, with affiliates then finding out the monthly ROIs they’ve been promised in their backoffices as non-withdrawable.
Timeline wise GooBets launched in mid 2014 and had collapsed roughly six to nine months later.
BeWise Trader popped up in May 2015 and collapsed 2 to 3 months later.
With investors wisening up to the sports betting Ponzi business model, and reboot schemes collapsing faster than their predecessors, expect Bet Traders to be done within a few months.
And if the collapse of GooBets and BeWise Trader taught us anything, when the collapse hits the admins are quick to do a runner and make off with invested funds.
