Sportarbs in a real pickle…

September 5th, 2010 | Posted in sport arbs

The Sportarbs platform is a great concept as ordinary investors can profit from the world of sports arbitrage trading. And when I joined everything worked pretty smoothly. There were a few ups and downs with regard to payment processors but all in all the process seemed to work.

That was then…this is now. For whatever reason Sportarbs seem to have got themselves into all sorts of difficulties and payments seem to have dried up completely. Way back in March they announced that members would be able to purchase a Mastercard and that would allow payments to be made. I’ve not seen any reports of the cards being issued or anyone using them.

Their Perfect Money account seems to be frozen and they have funds locked in their. In an effort to attract more funds they have added Liberty Reserve as a payment processor (after previously removing them). It all seems very bizarre and as ever communication is sparse and not that easy to understand.

Having said all that they still seem to be trading as those, like me presumably, who have funds locked inside Sportarbs are still re-investing and returns still seem to be being made.

The fact that we can’t actually enjoy the returns is frustrating to say the least. If we had some knowledge of what the likely options might be it could help to reduce the negative feelings that abound.

I don’t believe anyone should make an investment at the moment until the company front up and tell investors what the options are likely to be. I removed their affiliate banner some considerable time ago and will not be re-instating it in the forseeable future.