GUess it's time to get this thread back in action.
Apparently Betcoin has a new "poker room manager" who has also got themselves approved on
I've repeatedly requested details about this new 'poker room manager' on 2p2 and btctalk and can confirm that they are indeed working for Betcoin (confirmed by 2p2 mods), and not just a troll. However, they have claimed to be an 'experienced user on poker forums' yet refuse to respond to the question 'who are you!?'
Summary:
-Betcoin affiliate (xiaoxiao) got really good rakeback deal for his signups(way better than ant other affiliate)
-Eventually xiaoxiao lost all his players rakeback.
-Betcoin locks xiaoxiaos account for not paying players.
-Betcoin tells players they will pay them from what xiaoxiao would of normally be paid.
-Betcoin keeps all or most of the money for themselves.
-Betcoin banned/censored/ignored players who tried to get to the bottom of issue.==================
Here are some facts on the xiaoxiao rakeback issue:
For several years, xiaoxiao was able to offer a very good rakeback deal - with a decent VIP level, players were earning a little more than 100% rakeback with ~70% of it coming from xiaoxiao. Most regs who hadn't signed up under xiaoxiao created new accounts because normal affiliates were being paid less than half of what xiaoxiao was actually returning to players. Here is
one of xiaoxiaos original thread on Bitcointalk.
He also ran betcoinrakeback.com (now defunct)
Last spring ( april/may 2017) xiao degened everyones rakeback. After months of excuses and empty promises he admitted he was broke and came clean in
this post.
Betcoin responded on their own forum in
this thread. (cliffs below)
Betcoin posted saying that they had frozen xiaoxiaos account, and would be using the funds from his account to pay his players:
===========================
https://i.gyazo.com/93d4a3d96eae3c97746375aed83aaa1c.png===========================
A couple months late, they decided that the funds that xiaoxiao would of normally been paid would not go to xiaoxiao, or the players that signed up under xiaoxiao. They would simply be kept by Betcoin:
https://i.gyazo.com/05d5202a56664dd970c82f59a3e79249.pngThey have since refused to respond to requests for explanation, blaming xiaoxiao for stealing all that money. (which he did steal, until they locked his account and began to keep it all for themselves)
Also, they still offer affiliate program:
https://www.betcoin.ag/affiliates==========================
There were 3 ways Betcoin could of handled this situation.
1) Do nothing. The relationship between an affiliate and a player is just that. Let the players and the affiliate work things out.
2) Do something. Lock the affiliates account and pay the players what the affiliate had previously promised - including the cut that the affiliate was keeping for themself until all players were made whole.
3) Lock the affiliate account, and keep all of the funds that would of otherwise been paid to the affiliate (and then the players) for themselves.
Betcoin chose option 3.
