Binom Review: European betting experts = 4.6% daily ROI?
Binom provides no information on its website about who owns or runs the company.
The Binom website domain (“binom-corp.com”) was privately registered on March 22nd, 2018.
Despite not existing until around eight months ago, Binom claims it was founded in 2015.
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.
Binom Products
Binom has no retailable products or services, with affiliates only able to market Binom affiliate membership itself.
The Binom Compensation Plan
Binom affiliates invest funds on the promise of an advertised daily ROI.
- Liverpool – invest $25 to $249 and receive a 1.7% daily ROI for 12 days (120.4%)
- Chelsea – invest $250 to $4999 and receive a 2.4% daily ROI for 18 days (143.2%)
- Real – invest $5000 to $49,999 and receive a 3% daily ROI for 30 days (190%)
- Barcelona – invest $50,000 to $99,999 and receive a 4.1% daily ROI for 35 days (243.5%)
- Bayern – invest $100,000 to $10,000,000 and receive a 4.6% daily ROI for 40 days (284%)
Binom pays referral 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.
Binom caps payable unilevel team levels at twenty.
Referral commissions are paid out as a percentage of funds invested across these twenty unilevel team levels.
How many levels a Binom affiliate qualifies to earn referral commissions is determined by how much they convince others to invest:
- Status 1 (sign up and invest) – 5% on level 1 (personally recruited affiliates), 2% on level 2 and 1% on levels 3 and 4
- Status 2 (convince others to invest $25,000 or more) – 6% on level 1, 4% on level 2, 2% on level 3 and 1% on levels 4 to 7
- Status 3 (convince others to invest $250,000 ore more) – 8% on level 1, 5% on level 2, 3% on level 3, 2% on level 4 and 1% on levels 5 to 8
- Status 4 (convince others to invest $2,000,000 or more) – 9% on level 1, 6% on level 2, 5% on level 3, 3% on level 4, 2% on levels 5 and 6 and 1% on levels 7 to 12
- Status 5 (convince others to invest $10,000,000 or more) – 11% on level 1, 7% on level 2, 6% on level 3, 4% on level 4, 3% on level 5, 2% on levels 6 to 9 and 1% on levels 10 to 15
- Status 6 (convince others to invest $30,000,000 or more) – 13% on level 1, 8% on level 2, 7% on level 3, 4% on level 4, 3% on level 5, 2% on levels 6 to 10, 1% on level 11 to 17 and 0.5% on levels 18 to 20
Bonuses
Binom rewards affiliates for qualifying for Status 4 and higher with the following one-time bonuses:
- Status 4 – $80,000
- Status 5 – $250,000
- Status 6 – $500,000
Joining Binom
Binom affiliate membership is free, however affiliates need to invest at least $25 to participate in the attached MLM opportunity.
Ongoing commission qualification requires an active investment.
Conclusion
Binom claims to generate external ROI revenue through “a long-term partnership with independent European betting experts”.
No evidence on any such partnership exists. And it should go without saying that in any case, betting in any capacity can’t be relied on to provide a fixed daily percentage ROI.
That aside, Binom doesn’t provide evidence of any other source of external ROI revenue being generated.
Not withstanding Binom’s business model also fails the Ponzi logic test.
If Binom’s anonymous owners were able to legitimately generate a daily 4.6% ROI, they wouldn’t be soliciting investment from randoms over the internet.
And why on Earth would “European betting experts” capable of generating Binom’s advertised ROIs be partnered with a company that doesn’t exist outside of a website?
As it stands the only verifiable source of revenue entering Binom is new affiliate investment.
The use of newly invested funds to pay existing affiliates a daily ROI makes Binom a Ponzi scheme.
As with all MLM Ponzi schemes, once affiliate recruitment slows down to will new investment.
This will starve Binom of ROI revenue, eventually prompting a collapse.
The math behind Ponzi schemes guarantees that when they collapse, the majority of investors lose money.
For the record, as of 2 weeks ago, they have stopped paying all daily ROIs and other commissions, and demanded a 4% fee of the balance deposited in order for an investor to get back their seed capital, e.g. if an investor deposited $5,000, they needed to pay 4% ($200) to release their $5,000.
To make matters worst, all investors that paid the 4% 2 weeks ago were asked again to send another 4% fee last week, because the first 4% fee was allegedly stolen lol!
I warned a few friends of mine about this obvious scam about 3 weeks ago. Around the same time, the company offered a promo (called a “Tariff”), where they would pay out a flat 8% per day until November 4th. There were email circulating about how $5,000 would turn into $10,600 in 14 days lol!
Everyone was sending me screen shots of all this phony money accumulating in their back office (that could not be withdrawn until November 4th).
Yeah right! A fool and his money are soon parted!!