Profit Race: Straight-line Ponzi investment
There is no information on the Profit Race website indicating who owns or runs the business.
The Profit Race website domain (“profit-race.com”) was privately registered on November 1st, 2016.
Up until November 18th, the Profit Race website was presented in Russian. The Profit Race website references “Moscow Time”:
What happens to the queue at night?
At night, (at 1 am GMT+4:00 (Moscow time)), the purchasing a place in the queue is unavailable, it becomes available again at 10 am GMT+4:00 (Moscow time).
Alexa currently estimates Russia is the largest source of traffic to the Profit Race website domain (33.3%). Part of the Profit Race website is also coded in Russian.
Quite obviously whoever is running Profit Race is likely based out of Russia itself.
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.
The Profit Race Product Line
Profit Race has no retailable products or services, with affiliates only able to market Profit Race affiliate membership itself.
The Profit Race Compensation Plan
The Profit Race compensation plan sees affiliates invest funds on the promise of an advertised 120% ROI.
A Profit Race invests a minimum of $1, which is placed in a position at the bottom of a company-wide queue.
Funds deposited into the queue are paid to the position at the top of the queue, until the balance in the position reaches 120%.
At that point the affiliate who owns the position is paid out. Each position in the queue is moved up a place and the process repeats itself.
A 10% referral commission is paid out on funds invested by personally recruited affiliates.
Profit Race affiliates are also able to jump positions in the queue by paying a fee based on 1% to 4% of funds invested (the more paid the higher the queue jump).
Joining Profit Race
Profit Race affiliate membership is tied to a minimum $1 queue position investment.
Conclusion
Profit Race is about as raw of a Ponzi scheme as you can get.
Affiliates sign up, invest funds into Profit Race and are then paid an advertised 120% ROI. The ROI is funded by subsequently invested funds, making Profit Race a Ponzi scheme.
In addition to pre-loaded positions at the top of the company-wide queue, Profit Race admins also make off with 10% of all funds withdrawn from the scheme.
As with all Ponzi schemes, once new affiliate recruitment dies down so to will funds entering the scheme. At that point Profit Race collapses, leaving the majority of affiliates with a loss.
The Profit Race website currently claims that $23,441 has been invested into the scheme.
That represents an existing ROI liability of $28,129.
The number of Profit Race affiliates is purportedly 620. This represents an estimated 620 positions (excluding ghost admin positions) in the Profit Race queue.
The logical conclusion is that Profit Race affiliate recruitment will die down before the majority of these positions have been paid out on.
