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  • FIRST POST
    • Shakin Steve
    • By Shakin Steve 9th May 17, 8:55 PM
    • 1,502Posts
    • 1,245Thanks
    Shakin Steve
    Evolution sports trading
    • #1
    • 9th May 17, 8:55 PM
    Evolution sports trading 9th May 17 at 8:55 PM
    This is not a credit card post, but nearest forum I could find. I'm asking you knowledgeable people to cast you eyes over this. A member on another forum posted that someone was coming round to see his wife and was bringing a Visa card and was going to give her 50 in cash. Yeah, right.
    Here is his last post on the subject:
    Right so the guy turned up and explained what was going on , it is all to do with online betting basically you sign up ( on Facebook ) no bank details are given and it does not cost any money to join !
    They load the pre paid card with some money use this to bet with his example was to load the card with 20 of his money they place the bet and we get back 15 and he keeps 5 not sure how this works to be honest .
    But swmbo got another 50 cash in her hand , if she refers anyone else she gets 40 , so maybe it is not as dodgy as it seems and it really is money for nothing ?


    So, I look up this lot here:
    https://www.facebook.com/streetwisedirect/

    Now, I can't make head nor tail of it. Any ideas.
    I came into this world with nothing and I've got most of it left.
Page 1
    • bengalknights
    • By bengalknights 9th May 17, 9:03 PM
    • 4,401 Posts
    • 1,620 Thanks
    bengalknights
    • #2
    • 9th May 17, 9:03 PM
    • #2
    • 9th May 17, 9:03 PM
    Its called a ponzi scheme
    • Shakin Steve
    • By Shakin Steve 9th May 17, 9:05 PM
    • 1,502 Posts
    • 1,245 Thanks
    Shakin Steve
    • #3
    • 9th May 17, 9:05 PM
    • #3
    • 9th May 17, 9:05 PM
    Its called a ponzi scheme
    Originally posted by bengalknights
    I thought that, but couldn't quite work out how it works exactly.
    I came into this world with nothing and I've got most of it left.
    • cjv
    • By cjv 9th May 17, 9:09 PM
    • 248 Posts
    • 127 Thanks
    cjv
    • #4
    • 9th May 17, 9:09 PM
    • #4
    • 9th May 17, 9:09 PM
    Maybe they are taking advantage of a promotional offer for new customers on a betting site, or being paid a commission for referring new customers (who place a bet) to a betting site.
    • LLouise91
    • By LLouise91 29th Sep 17, 3:17 PM
    • 1 Posts
    • 0 Thanks
    LLouise91
    • #5
    • 29th Sep 17, 3:17 PM
    • #5
    • 29th Sep 17, 3:17 PM
    The scheme works by match betting which is all legal if you look on Google it will explain how it all works. I have personally signed up to this scheme myself and received 200 and for every member i referred i got more money.

    No bank details were given.
    • camelot1971
    • By camelot1971 29th Sep 17, 5:19 PM
    • 865 Posts
    • 1,294 Thanks
    camelot1971
    • #6
    • 29th Sep 17, 5:19 PM
    • #6
    • 29th Sep 17, 5:19 PM
    Scam or money laundering. Nobody gives random people money for free. No one.
    • Browntoa
    • By Browntoa 29th Sep 17, 6:18 PM
    • 33,402 Posts
    • 39,457 Thanks
    Browntoa
    • #7
    • 29th Sep 17, 6:18 PM
    • #7
    • 29th Sep 17, 6:18 PM
    Probably cards loaded with money from stolen bank accounts or credit cards
    I'm the Board Guide of the Referrers ,Telephones, Pensions , Shop Don't drop ,over 50's and Discount Code boards which means I volunteer to help get your forum questions answered and keep the forum runnning smoothly .However, please remember, board guides don't read every post. If you spot an inappropriate or illegal post please report it to forumteam@moneysavingexpert.com Any views are mine and not the official line of MoneySavingExpert.
    • forgotmyname
    • By forgotmyname 30th Sep 17, 12:47 AM
    • 27,427 Posts
    • 11,077 Thanks
    forgotmyname
    • #8
    • 30th Sep 17, 12:47 AM
    • #8
    • 30th Sep 17, 12:47 AM
    Guessing there maybe something missing from what actually happened.

    Someone turns up and gives you a prepaid card and 50 in cash? Dont cards need to be registered these days to prevent fraud and money laundering? I had to supply ID to get a revolut card.

    You load the card and spend it on a betting site?

    Do you need to load more than 50? I wonder if they report the card stolen and keep all your money?

    Did they part with any money? Or part with their identity?
    Punctuation, Spelling and Grammar will be used sparingly. Due to rising costs of inflation.

    My contribution to MSE. Other contributions will only be used if they cost me nothing.

    Due to me being a tight git.
    • benjth11
    • By benjth11 12th Aug 18, 4:15 PM
    • 1 Posts
    • 0 Thanks
    benjth11
    • #9
    • 12th Aug 18, 4:15 PM
    Late to the party, but hope this helps
    • #9
    • 12th Aug 18, 4:15 PM
    So I used to work in an office downstairs from this company. Basically, they sign up to betting accounts with the card details you provide in order to take dvantage of the free bet bonuses for new members. They then play spread betting using the bonuses to their advantage. They pay back your initial 50 with interest becasue after a few hours they've made that back in profit on bets places, and then they incentivise you to sign up more people by giving another 50 for each person you sign up, plus a bonus or whatever.

    They're just making money from various loopholes in online betting services, but in order to do this, they need prepaid cards to sign up as a new user.

    So yeah, it's kinda an MLM scheme, and definitely sits in a legal grey area, although anyone with an excel spreadsheet can do spread betting with a bit of research, it's just time-consuming and you'll need some cash to get you going.

    For what it's worth they're nice blokes running it, even if it does smell a bit fishy.
    • jonesMUFCforever
    • By jonesMUFCforever 12th Aug 18, 6:06 PM
    • 25,065 Posts
    • 12,314 Thanks
    jonesMUFCforever
    So I used to work in an office downstairs from this company. Basically, they sign up to betting accounts with the card details you provide in order to take dvantage of the free bet bonuses for new members. They then play spread betting using the bonuses to their advantage. They pay back your initial 50 with interest becasue after a few hours they've made that back in profit on bets places, and then they incentivise you to sign up more people by giving another 50 for each person you sign up, plus a bonus or whatever.

    They're just making money from various loopholes in online betting services, but in order to do this, they need prepaid cards to sign up as a new user.

    So yeah, it's kinda an MLM scheme, and definitely sits in a legal grey area, although anyone with an excel spreadsheet can do spread betting with a bit of research, it's just time-consuming and you'll need some cash to get you going.

    For what it's worth they're nice blokes running it, even if it does smell a bit fishy.
    Originally posted by benjth11
    Are you sure that you worked in a different office - I might be wrong but it smells fishy alright?
    Why did you resurrect a year old thread?
    Have you run out of mugs to carry on with this?
    What goes around - comes around
    give lots and you will always receive lots
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