Roughing the Punter

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  #1  
Old 03-26-2017, 01:32 PM
Heimie Heimie is offline
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Default Sports Betting Fund Update....

Roller Coaster of Fleeting Love...
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  #2  
Old 03-26-2017, 07:17 PM
fubster fubster is offline
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I skimmed through the article and saw this header

Quote:
LARGEST BET $16,000
followed by

Quote:
Connelly doesn’t put more than 5.5 percent of total funds on any one bet. His largest bet since Contrarian Investments launched has been $16,000.
i'm not one of these people who gets into dick waving contests about bet size, but if you're going to call yourself a "fund"...
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Old 03-26-2017, 09:59 PM
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The Chaperone The Chaperone is offline
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5.5% of 500k is a lot more than 16k!

In other news, who would have ever guessed that this wouldn't work out!
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Old 03-26-2017, 11:21 PM
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Cutter Cutter is offline
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With 500k I would do well. But barring March madness and NFL playoffs I would probably never be able to invest more than 30k in a 24 hour period.

In this scheme I am sure bettors know what the fund is vested in before the event starts. That isn't possible if I were running it. Most good bets are not identifiable until game time or halftime.
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Old 03-27-2017, 09:31 AM
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The most ridiculous thing is that some people I know spent a couple minutes looking at their records and noticed their 5.5% play on Nebraska on 2/2 lost, but is in their records as a +4.92% win. How the heck does almost two months elapse with none of the investors noticing the error??? That of course calls the rest of the record keeping into question.

The most blatant error in the original article is the claim that "Legal sports betting is still a relatively illiquid market and, similar to the case with penny stocks, one big bet can move the spread. Thus, Connelly places his bets across various casinos via CG Technology’s mobile application."
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  #6  
Old 03-27-2017, 08:02 PM
gambleballs gambleballs is offline
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This shit is disgusting. Surprised nothing came from last years SEC prob into these guys. Extremely misleading to advertise a 19.5% return rate when you have made 6 total bets. And apparently theres no oversight or third party checking of grading and accounting?!?! Anyone investing in these things is in for certain disappointment. And pretty disappointing for Nevada Gaming to have paved the way for this type of scam to take place out in the open here. Its one thing to sell someone a coinflip for $20 on pregame.com, its another to sell someone a bunch of coinflips, advertise it as a legal, licensed and regulated "fund", and use questionable accounting methods and record keeping to attract investors. Taking a cut on the winning months and wiping the slate on losing ones. Pathetic.
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Old 03-28-2017, 06:18 AM
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A different one of these "funds" calling itself Sports Entity Wagering has as one of its team members "Jeffrey Keim Fund Advisor & LP KMSAG, LP." That's Oskeim Sports, one of the most obvious frauds out there.

Oskeim uses an "independent monitoring service" called Handicapper's Watchdog that also sells picks from the touts it "monitors," no conflict of interest there. That "monitoring service" doesn't display the tout picks until the next day so basically worthless, but it does show how many pending picks there are and what the units are of the plays, so you can at least check if the number of displayed picks the next morning and the units don't match the number of picks and units listed the night before. After checking for two weeks of baseball, I noticed a rather large number of discrepancies, winning picks showing up in the archive where there was no unit size matching that play the night before, obvious bad lines and similar, where no one pointed out the errors to them.

Finally I noticed one morning that two plays from the night before never showed up in his archive and had someone not blocked by him on Twitter to ask about the discrepancy. He claimed "while at dinner, my 3 year old son grabbed my phone and uploaded two plays." Even if we believe the absurdity that a 3 year old was able to grab his phone and upload two plays, why in the world didn't he tweet immediately "If you purchased my picks don't play X and Y, those picks were uploaded by mistake," why were those picks listed for sale the rest of the evening, and why were they still showing as pending until the next morning???

That's the kind of story RJ Bell would be proud to tell, and yet this Jeffrey Keim scammer is still deemed acceptable to be affiliated with one of these funds.
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Old 03-29-2017, 12:23 PM
Heimie Heimie is offline
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Old 04-19-2017, 02:47 PM
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Quote:
Originally Posted by GroovinMahoovinPartDeux View Post
The most ridiculous thing is that some people I know spent a couple minutes looking at their records and noticed their 5.5% play on Nebraska on 2/2 lost, but is in their records as a +4.92% win. How the heck does almost two months elapse with none of the investors noticing the error??? That of course calls the rest of the record keeping into question.

The most blatant error in the original article is the claim that "Legal sports betting is still a relatively illiquid market and, similar to the case with penny stocks, one big bet can move the spread. Thus, Connelly places his bets across various casinos via CG Technology’s mobile application."
This record still hasn't been corrected. The fund has only had 5 plays in April, nothing in 9 days, and is currently advertising a +8.27% overall profit when the actual return is a -2.15% loss.
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  #10  
Old 04-24-2017, 04:03 PM
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CaptainJack CaptainJack is offline
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Entity Wagering is another fine example of:

When you want to do something in a regulated environment, but don't actually want to be regulated, do it in Nevada.
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