This is my first post on here. I wanted to sound a note of caution about Yobetit. There are a number of aspects to this 'business' that worry me.
Firstly, as has already been pointed out by others the business model is flawed. It is not clear that arbers would use this service as it would effectively reduce their profit from each arb - in order to provide a profit for Yobetit.
Also I am doubtful that many bookmakers will really want to cooperate with Yobetit as most of them dislike arbers (to put it mildly!). I fail to see how the punters, Yobetit and the bookmakers can all profit at the same time! Yobetit has yet to name any of the bookmakers that have agreed to work with it.
However I have a much more serious concern. The main aim of Yobetit appears to be to persuade people to sign up as members, the product seems to be hardly relevant. This is typical of a MLM, Ponzi type scheme, where the unsuspecting victims are encouraged to sign up for 'packages' which promise generous rewards for selling further packages to other victims.
In most cases the only people who profit from such schemes are the organisers and a few people who get in right at the beginning. The payments to these people come not from the business, but from the payments made by later 'members' - who end up losing their money.
If you want to invest in a business, research it properly and become a proper shareholder - otherwise it is best to leave well alone, at least until there is a product that you would feel happy about selling.
There are MLM schemes that work reasonably well - these all have a good product allowing even those at the bottom of the pyramid to profit by selling the product itself, rather than 'membership'.
I'm not at all clear what Yobetit's product is.
You might be interested to compare Yobetit with a much larger Ponzi scheme called Banners Broker. This scheme is currently in the process of imploding and is going to lose many people a lot of money. It had many of the same features as Yobetit - a vaguely plausible business plan good enough to fool the uninitiated - and a concentration of effort on selling membership rather than selling the product.
I hope I am wrong but I am 90% sure that Yobetit is a Ponzi scam.
Haha look what I have found - As soon as the packages are sold out and the bookmaker list is released people begin to offer memberships and invites or something: http://www.ebay.at/itm/ws/eBayISAPI.dll?ViewItem&item=230978226525
Some time has passed since my previous post on the subject of Yobetit. On a positive note, they have now published a list of the bookmakers with which they claim to be cooperating:
On a negative note, to my knowlege none of these has openly confirmed their involvement.
There is a lengthy thread about Yobetit on the arbusers forum, with several contributors who have actually bought 'packages'. They claim that they have already received 'Global Credits' (dividends) from the company. As the company has yet to make any profit, where did the money to pay those dividends come from? Oh yes, the contributions of later 'investors'. What do you call a scheme where the payments of later investors are used to fund payments to earlier investors - a Ponzi. I'm not saying for certain that Yobetit is a Ponzi, and I still hope very much that it is not, but the organisers couldn't have done much more to make it look like one!
According to Yobetit they will be starting trial running tomorrow, but the first 'real money' trades will be in a couple of weeks. As it appears that the only people with access to the system will be investors ( with a vested interest in getting more people to invest) I doubt that there will be many honest and objective accounts of how well it is working.
The problem with this type of scheme is that it is not subject to any type of independent scrutiny or evaluation. There will be those who claim to have made their fortune through Yobetit, but they will be founder members who need to sell further memberships in order to recoup their investments. One way of telling whether Yobebit works will be whether the discussion moves away from selling memberships and towards a discussion of the 'product'.
Yobetit has already ended the package selling so there are no longer any discussion about that anymore. I have never seen a ponzi scheme were they stop selling to other investors, so whether it is a ponzi scheme or not is no longer relevant. It will not be possible to get more people to invest. They will start a service that cost a monthly fee (like Rebelbetting, SBM etc) if it would not be any good people will not use it, simple as that. So yes it is already full focus on the "Product" you just dont know it
This thread has gone very quiet. I understand that the start of 'real money' trading is still pending, but can anyone here report on the 'Demo Trading' exercise? How close are those who have shelled out significant sums of money on Yobetit to seeing a return?