04/09/2011. SportEarn Review and Daily News from the Industry

Beware! SportEarn is paying selectively! Do not invest there!

Hello everyone! Hope you’re all having a good weekend so far. You might have noticed I didn’t have a news update yesterday but to be honest there wasn’t really all that much to report on. I’ll catch up with everything for you today but looking around there doesn’t seem to be much more today either. Unfortunately not all of what I have for you is good news. Anyway, before we get to that there was a new short term program called SportEarn added to MNO over the weekend so first of all I want to take a closer look at that.

Of course when I say that SportEarn is a new program what I really mean is that it’s a new addition to my monitoring page. The program itself isn’t all that new, especially in relation to very short term HYIPs which is what SportEarn is. They’ve been online well over a week now, though actually it hasn’t really caught on before now. Maybe that’s about to change in the coming week, we’ll see. But first check out the plans, which I reckon long time fans of HYIPs like this one will almost be able to recite by heart now they’re so common.

In all SportEarn offer six investment plans that all make one single interest payment to the investor on expiry. Returns will based on the size of your deposit with higher rates going to the bigger spenders. As usual though there can be a very fine line between a good gamble and something that’s not going to be possible for the admin to meet so like I always advise try to stay within a sensible level.

Getting on with the plans however, SportEarn‘s first one runs for just 1 single day, meaning if you join today you get paid tomorrow. You can join for a minimum spend of $10 and for all deposits up to a value of $100 you can earn 104% on expiry. That figure includes your principal so it’s a net profit of 4% for yourself. Not a bad return for just a day. Otherwise if you’d care to risk a larger amount then SportEarn are paying 105% on deposits from $100 to $500, and 106% on deposits from $500 to $2,500, which is the largest sum that is accepted by the program. And though I’m not sure why you’d want to, if you did want to spend more than that I guess you could always make a separate individual deposit.

The second plan runs for 3 calendar days and unlike a lot of similar offerings one can find in the industry, this one is actually an improvement on the previous one when we break it down to a profit per day basis. Not a massive improvement mind you, but as good as might be expected for a three day investment term. SportEarn‘s minimum deposit remains at $10 and for anything up to $100 you can expect a payout of 115%, principal included. For a more substantial investment SportEarn offer you 117% on expiry for anything between $100 and $500, and 120% on anything above that to the maximum allowed $2,500.

SportEarn‘s third plan runs for 5 calendar days and works just like the others. Payment is made once on expiry and the rate will be determined by how much you spent in the first place. A $10 minimum is required to join and for anything up to $100 the offer is 122%, principal included. Other rates include 127% on deposits from $100 to $500 and 135% on anything above $500 to the maximum investment of $2,500.

The next plan pays on expiry after a 10 calendar day investment term and can also be joined for the same $10 minimum. Like its counterparts payouts are made on expiry with SportEarn including your principal with the payment. Returns being offered this time include 150% for investments between $10 and $100, 160% for $100 to $500, and 175% for $500 to $2,500.

As you can imagine things begin to take on a lot more risk as we get into the longer term plans but as ever the choice is yours at all times whether to play or not. SportEarn‘s fifth investment plan offers you a payment of 180% interest, principal included, on expiry of a 15 day term on deposits between a $10 minimum and $100. For larger sums the offer grows to 195% for amounts between $100 and $500, and 220% on anything over $500 to the maximum $2,500.

And finally SportEarn‘s longest and riskiest plan runs for a term of 30 calendar days. It too pays once on expiry, includes your principal with the payment, and can be joined for a $10 minimum. Assuming the program lives that long rates being offered here include 370% for deposits between $10 and $100, 420% on anything from $100 to $500, and 500% on anything above that to a $2,500 maximum. Not quite the astronomical and frankly ridiculous numbers one often sees in short term HYIPs to exploit the gullible, but an enormously difficult figure for the admin to pay nonetheless. Certainly on a consistent basis anyway, so you’d be better off I would say sticking to SportEarn‘s shorter term plans, that’s if you’re joining the program at all that is.

Payment methods at this point are fairly standard and more or less what you might expect from a HYIP like this. That may well be changing very soon however so keep an eye on MNO for news on that when or if it happens. Right now SportEarn are using LibertyReserve and PerfectMoney. Payments will need to be requested from within your member’s area, and while the admin specifies in the FAQ that you must allow up to 12 hours for payments to be completed my own one was done instantly. That’s not guaranteed though so even if you do get an instant payout don’t expect or demand that you get it every time. It’s planned to introduce AlertPay pretty soon too however that’s just being delayed by the fact that it takes time to integrate the proper AP module with SportEarn‘s unique script.

That script incidentally does borrow heavily from GoldCoders in terms of appearance so you could be forgiven for thinking that it comes from them, but it doesn’t. It’s SportEarn‘s own unique one though it will at least have a very familiar feel to it for most investors. The website is SSL encrypted for more secure transactions and is hosted on a dedicated server with support and protection from DDoS attacks by Koddos. For any further questions or account related issues you can contact the admin by filling in your details on the online support form and submitting it.

As you can probably guess from the name SportEarn‘s stated business and source of income is betting on sports events. Hardly the first time we’ve heard that one in the HYIP industry and I suspect not the last either. Texts appear original at least but when it comes to supporting the claims all you’re presented with is a list of results from mostly tennis matches that the admin freely admits are taken from the website of a well known international bookmaker. But I think we all know telling us the score after the game has ended doesn’t exactly qualify as proof of anything, and remember when the SportEarn text says that “betting on sports can bring considerable profit” the other thing it can bring is considerable losses. So even if it were true (and I have my doubts) then it would still be important to acknowledge the high risk nature of the online HYIP industry and check your spending level accordingly. And of course for a little extra protection from heavy losses try to keep any investments you might be thinking of in SportEarn as a smaller part of a more diverse portfolio.

DAILY NEWS FROM THE INDUSTRY.

First off sorry about not having an update yesterday for anyone who was waiting for it. There wasn’t much news anyway but I’ll try to catch up with everything today as there has been a few important developments.

The most serious of these is obviously GorgonProjectInvest. Well, it’s hard to call it news exactly as there’s actually nothing new to report here which in itself is not good. I’m still waiting for an update from Paul who didn’t process the payouts to LR at all for the last two days. The last update on Twitter still states that Paul had to go MNO Chat to communicate with the members of the program, but apart from Friday when he was there for an hour or so I haven’t seen him there. Also I’m currently facing an avalanche of complaints from investors who were not paid to LR by GorgonProjectInvest for over a week now. Providing there is still no update from the admin I find it impossible to keep the program on Paying status at the moment, even if it’s apparently paying to other payment processors apart from LibertyReserve. GorgonProjectInvest has therefore been moved to Problem status on MNO, and in the interests of fairness will stay there until all LibertyReserve withdrawals catch up. I don’t know about you, guys, but I still have hope that it might actually happen. Anyway, I will keep you all updated on MNO as usual, but at the moment it’s not recommended to make any additional deposits in GorgonProjectInvest, at least until the payouts to LR resume.

RockwellFunds was another program that I had to move to Problem status on MNO due to a complaint from a reader received yesterday. As you might remember from my review of the program RockwellFunds used to pay on expiry and since it doesn’t have a regular member’s area the withdrawals must be processed automatically. However, in this case his withdrawal was not processed for over 24 hours after the expiry date. My request to the admin to explain the situation didn’t bring any result and he failed to respond. I have no other choice but to move RockwellFunds to Problem status on MNO today and advise you not to deposit there again until further notice.

And one program which I have just moved to Problem status on MNO today is MInvestment. For the last 24 hours I have received a verified complaint from one of my readers who was not paid from the program for the last 48 hours and of course, the admin of the program didn’t bother to reply to him. Finally the last straw that made me move them was the very suspicious email about the addition of a 200% after 1 day plan to MInvestment. Experienced investors must know that this usually means the end of any program with such high returns like MInvestment had for the last three weeks online. So please do not waste your time on this scam. Just look what the admin wrote and draw your own conclusion:
“MInvestment VIP Plan – “200% After 1 Day” Added!
Hello, we would like to announce that our program has been online for three weeks now! We’re just getting started to get recognized by hundreds and thousands of new visitors and investors daily.
We have added an VIP Plan that will be available for an limited time only. It will double your initial investment within just 24 hours. Minimum to invest in this plan is set to $250.00
Other investment plans are not affected and has the same minimum of $10.00
Thank you for staying with us. We’re looking forward for a new week ahead. Have a good one!
MInvestment Team“.

As for the situation with MGFunds, I’ve taken the decision to leave it on Paying status as the admin paid what was due to one of the complaints submitted to me. As to two others, Mark (the admin) explained to me that those withdrawals had to be processed by AlertPay with whom the program has some ongoing issues with at the moment. Mark is still waiting for a response from AlertPay and if nothing happens by this Monday the decision to drop them as a payment option will be unavoidable, making it necessary for those who made deposits in MGFunds via AlertPay to file disputes and wait for a resolution. Well, when dealing with AlertPay one should be prepared for such consequences due to an ever tightening policy against some HYI programs. Unfortunately, it looks like MGFunds might become another victim of AP and collapse unless they drop them and (who knows) may survive then. Anyway, I will keep you updated regarding this situation on MNO, so stay tuned for more information as soon as I get it.

The admin of SushiProfit issued his first newsletter where he made three main points – the recent review on MNO (click here to read it), fixing the issue with Pin codes which will allow the members to successfully make changes in their profile, and reminded about the time frame for withdrawals which is 24 hours. This is how long you should wait at most to be paid to your LibertyReserve and PerfectMoney accounts to the following plans offered by the program – 105%-129% after 1 day, 116%-217% after 3 days, 137%-588% after 7 days, 180%-993% after 15 days, 270%-2245% after 30 days, 7670% after 60 days. Well, SushiProfit has just started and I believe that with proper support and a good admin it can have a good run and provide profits for the investors. Here is the latest from them:
“SushiProfit Review On MNO!
Dear Investors,
1) Paul, the owner of the most popular and successful blog Money-News-Online, has published the review of SushiProfit on his blog. Here is the link: http://money-news-online.com/blog/2011/09/02/02092011-sushiprofit-review-and-daily-news-from-the-industry
2) PIN code issue fixed – those of you who changed security settings in your account and previously didn’t receive your PIN code for verification into your email, will always receive it from now.
3) I want to remind everyone that all withdrawals are processed within 24 hours (or less) from the moment you requested them. If I am online, I usually process withdrawals very fast but you must always allow up to 24 hours for your withdrawal request to be processed.
Wish you all a prosperous and pleasant stay with SushiProfit!
Blessings, Admin”.

And finally just before I finish I just want to list off the programs from my monitoring page that paid me during the last 48 hours. The list includes:
PowerfulStrategy, AudivaTraders, PerfectLottery, HyperCompound, CommoditiesCapital, StockBiz, GainRace, HitNRunMasters, FIPO, After60Days, GlobalFxTrades, BaseBucks, BruyetteInvestment, ViscoCorp, TopsFund, NeoProgress, SafeDepositary, EarnGroups, UnitrustDirect, PrimFix,  BrantonsGroup, PermanentProfit, EurexTrade, InvestNetGroup, SportEarn (the first payments processed) and SushiProfit (the first payments received).

That’s all for today, guys. Enjoy what’s left of the weekend and I’ll catch up with you again tomorrow when the new working week starts with all the important news stories from the industry and the programs covered on MNO. See you all then!