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Old 12-05-2005, 04:16
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The Soccer Exchange

A thought came to me the other day. In isolation, like they always do. The TV age is well and truly over. Now we have “The information age”, or as how I’d like to think of it - “The Internet age”.

Once the internet became dumbed down enough for people like me to use I welcomed it with open arms. An alladin’s cave of porn, music, and answers to annoying drunken questions like “what was the name of that bloke who hosted Trigger Happy TV?” was at my fingertips. One thing led to another and one of life’s addictions followed me into cyber-space - gambling. Unfortunately my embrace of the new medium turned into unwarranted sexual relations between an online bookmaker and my posteria.



“A punter’s worst nightmare” by Anothermugpunter.

In a forum, far, far from here at a time when people we’re backing Everton for relegation and Wycombe for Division 2, another mug punter was trying to make his way in the cyberworld of snakes and ladders. A young pretender by the name of “non-league”, swaggered into the cyber lounge full of brashness and contempt. He put his feet up on the coffee table and he didn’t take his shoes off.

His tips were very good and I subsequently chatted with him on MSN messenger. He shared with me how he got his information and the strengths and weaknesses of various leagues competing in the FA cup qualifying rounds. For this I was indebted. However, as I’m sure many people remember he didn’t play well with others and threw a tantrum when things didn’t go his way. He was promptly shown the door and for good reasons too.

Before he chose to sever contact with me he put me onto a website, then called “Fairoptions”. This site was new and a niche player. It was an exchange which priced up the earlier rounds of the FA cup and FA trophy. The more established bookmakers like Bet365 and Stan James waited until the Conf S / N teams entered the competition before offering prices. This meant that to my knowledge Fairoptions was the only book on the net. No guideline prices existed so with a bit of research you could get some good prices.

Looking at the other areas of the site I came across some good bets in the pro-leagues. Namely Wolves to finish above Coventry at 6.0. Now, I knew that FO was a deposit only site and I had some reservations. However, Nonleague said that he had received several cheques off of their director Clive Reams and that they were advertised on non-leaguedaiy.com. In subsequent weeks I saw a photo of a beaming punter on that site with a cheque from fair options. Also they had a special offer. They would double the odds of your first bet. So I was in and on Wolves.

The first time alarm bells started ringing was about three months later. The website moved without any warning to it’s members. All that was left was a link to a new site and a new company “TheSoccerExchange”. It took a couple of weeks for me to actually have access to my account and another two weeks before I saw my bets there. Que heart palpitations. Digging around the site I was looking for something to re-assure me. Straws to clutch. I found paragraphs such as:

“The Soccer Exchange website ensures that no bet can be placed that cannot be honoured as all bet stakes and liabilities are held in a separate clients account.”

Also they carried a link to the Independent Bookies Arbitration Service (IBAS). All of this calmed me for the time being.

As the season progressed I managed to take several commanding positions in a couple of leagues. I knew that I was due a big payout at the end of the season (over 2k). Due to laying a few bets off I had $100 in my account at the beginning of March. I decided to test the waters and make a withdrawl.

Two weeks later I hadn’t received the cheque so I called their office. I didn’t even get an answer machine, the phone just rang. So I decided to email Mr. Reams to find out what was going on. The official email address on the site had been returning mails all season so I was using his old Fair Options address. He replied that he’d been away and the emails had “disappeared into the ether”. He said he’d send the cheque that day. A month later and the cheque still hadn’t arrived. Fortunately I was in Thailand for an underserved break so the rare times that the situation came to mind I was able to numb the pain with cheap rum and other distractions.

So now it’s been some ten weeks since I iniaited the withdrawl and Mum’s the word. My bet’s also haven’t been settled in full yet.Using the medium which tempted me in the first place I posted looking for other customers / marks. A couple of very helpful guys have been in contact with me the last few days saying that there’s at least four of us in the same boat. One of them was told by Mr. Reams that a firewall stopped him from accessing the account and issuing the cheque! He also told me that the web host’s haven’t been paid also.

This story hasn’t reached a conclusion yet. My contact believes that we have a justifiable case for going to the police as the company has kept both sides of the bets. If anybody out there in cyberspace has any opinion on the validity of this assertion, please let me know.

So what have I learnt? Well certainly that oft overused maxim “if it’s too good to be true it probably is” springs to mind. At this point of time just getting my stake money back would improve my financial situation considerably. I think that punting’s a risky business as it is without worrying about the risk of actually being paid out. I’ll certainly be sticking with the “big boys” in the future. It’s less stressful.

AMP
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Old 12-05-2005, 06:00
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Re: The Soccer Exchange

Sorry to read that AMP. Hopefully someone here will be able to offer some assistance. This Mr Reams fella sounds a bit shady though. I've tried sending them an email to see if I get any reply.
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Old 12-05-2005, 07:17
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Re: The Soccer Exchange

Sorry to hear the trouble your having AMP. Have you tried contacting IBAS to see what they have to say, maybe they can offer some advice?

I'll have a look at the domain name information later on and see if I can dig up some more info. for you.
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Old 12-05-2005, 07:33
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Re: The Soccer Exchange

Sorry to hear about that AMP, doesn't sound good. However this

Quote:
They would double the odds of your first bet
would have had me running for the hills rather than sending any money their way.

How exactly do they double the odds of your first bet on an exchange? Take double the funds out of the punters account who you matched bets with? Not possible which means they are probably funding it. Which for a small operation (which they sound like) means they are just leaving themselves wide open to abuse from the professionals and arbers who will quite happily go in, lump a hefty sum on one team, lay them at Betfair/daq and guarantee a profit either way.

I certainly know if I had seen that offer and I had confidence over the security of my money then I would have considered doing that.

Hope you get some good news but I wouldn't be holding my breath waiting on it.
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Old 12-05-2005, 09:07
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Re: The Soccer Exchange

You wouldn't need to be pro to take advantage of an offer like that, a couple of brain cells should suffice. :D

IBAS will be a waste of time. The Police will only be interested if they think a crime has been committed. Unfortunately, company law in this country means they can get away with just about anything in this respect. (see SportingOptions) We don't want to stifle new businesses with onerous obligations in case we discourage them from starting up is the dubious justification for this licence to effectively defraud.

They can basically walk away and start again.
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Old 14-05-2005, 08:08
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Re: The Soccer Exchange

Sorry to read this AMP. Looks dead and buried and an expensive lesson. Had a look for this site but can't find it. Where are they registered and are they still trading? If they've "gone bust" like luvbet 2 or 3 years ago and sportingoptions you've got no chance.

Re sticking with the big boys. There are plenty of other reliable firms now in addition to the big names in the High Street and also exchanges, betfair, betdaq and backandlay. I rarely bet with Hill or Ladbrokes as they're usually beaten on price elsewhere.

The only dodgy experience I had was with bet-at-home. I had to keep on at them for about 3 months before I got my cash (wasn't a lot) and I would never deposit another penny with them. One to avoid.

Just thinking here as I type - maybe the owners would consider publishing a list of bookies to avoid, rather than having to sift through a lot of posts. There aren't many just now but this will change. A list of those less well known firms where punters have had no problems withdrawing funds would also be very useful. I could certainly name a few.

Suggest a sticky would do the job.

Last edited by Parahandy : 14-05-2005 at 08:12.
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Old 14-05-2005, 13:46
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Re: The Soccer Exchange

Feel free to start a thread Para and I'll stick it for you. I don't actually use any obscure bookies as I'm too scared. Only one I can recall having probs with was Gamebookers after they sent me an email asking me to sign up. I did, without realising I had signed up with them before with the same card (don't think I'd ever used them). Caused me no end of grief, I have to tell you.
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Old 14-05-2005, 16:58
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Re: The Soccer Exchange

few quick points as I'm off to play poker.

Regards to laying off - wasn't as easy as that as a majority of bets were handicap and Wolves to finish about Cov.

Secondly the website can be found here :

https://www.tradingsports.net/soccerexchange/

Lastly, I'd stick Bet and Win on that list as I had some fun with them over a lot less money as well.

Have to go, thx for replies.

AMP
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Old 14-05-2005, 20:57
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Re: The Soccer Exchange

Cheers Mickey. I'll do that
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Old 18-05-2005, 13:29
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Re: The Soccer Exchange

AMP,

Small bit in the Racing Post today about Soccer Exchange. They have now closed their doors/went offline apparently. Owner (Reams) says its only temporary but R Post asks why they would do so in the run up to the biggest domestic game of the season.
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Old 18-05-2005, 17:35
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Re: The Soccer Exchange

Yeah, I knew about the suspended site, but I didn't know about the RP though.

I'm in contact with a really cool guy who's being pro-active (to put it politely) about this. He's spoken to the web hosters (Trading Sports) and they were really helpful. It appears Reams owes them money and they were appalled to hear that Reams could keep both sides of the bets. T.S are an AIM listed company so I'm sure that they're above board.

Prior to the site suspension my bets were settled on screen. I'm now waiting for the SPL to finish and to find out how the other guys get on before contacting Reams. His mobile phone number is in circulation and I've heard he is answering it.

Apparently 1 guy had a bit of joy with a personal visit. If that is the way forward I'll get in contact with my old fellah (being overseas myself). He's a 2nd Dan blackbelt in Karate and occasionally has a untolerant demeanour, shall we say. I'm sure if I offer him a cut he'll see Reams on my behalf.

I'm hoping it won't come to that but I'll know next week.

AMP
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Old 19-05-2005, 23:46
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Re: The Soccer Exchange

dunno if this is relevant... but the trading exchange seem to 'own' thesoccerexchange

this is posted on the site "The sale of The Trading Exchange (UK) Ltd
by The Trading Exchange plc to
Intuition Capital
was approved by shareholders on 17th May 2005.


A new web site will be launched soon"

maybe getting info from Companies House is in order to see who owns what and who is liable for what.

You could threaten to take them to the small claims court if they dont pay?

They dont have too know you are in Taiwan....
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Old 20-05-2005, 03:26
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Re: The Soccer Exchange

I sympathise, but this tale acts as a warning.

There will always be new independent online bookies, betting to unsustainably tight margins and offering loss-leading freebies, there may well too be more new exchanges, with ''too good to be true'' seeded bets.

Any idiot who operates like this can't run a betting business competently, and is likely to go bust and take your cash with it.

This sounds like a fly-by-night operation which didn't even have its own software (so rented it and evidently hasn't paid its bills).

There are no silver bullets in business - it's hard graft but there are all too many ventures out to make a quick buck, sadly.

And don't think that companies listed on stock markets are immune from corruption either.

You have to make every deposit to every betting site with your eyes open, aware that there is nothing to stop the betting operator from stealing your money.

Last edited by Ian Davies : 20-05-2005 at 14:16.
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Old 12-06-2005, 19:53
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Re: The Soccer Exchange

Clive Reams was said to have met disgruntled soccer exchange punters last week in a hotel near Newmarket.

Was anybody there who can update on the situation?

Cheers

Gazman
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