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Interviews with SportArbs





1. Hello. We are happy to hear from you again and specifically with
long awaited clarification of the status of the project SportArbs.
Please introduce yourself to our website readers and tell us finally
what happened with the project and why payments were suspended.

Dear Ladies and Sirs, my name is Novikov Sergey and since June 2011 I
have been the Head of the Russian-speaking segment of the SportArbs.
Well, it is a long story, but to put it briefly: having solid business
and very competent staff, the SportArbs's management had come to
decision to create an online division in order to attract more
investments and to cut expenses related to transfers between betting

This was a reasoned and necessary decision; however its realization
was hasty and inaccurate. And the reason is the behavior of Christer
Klasson who was the head of the online division ("website") at the
moment. By the way, he is currently under investigation in Sweden. Due
to inaccuracy, or probably because nobody expected the website would
gain such momentum, a couple of major issues had not been addressed
- money withdrawal from the system; and
- partnership program.

At last, these issues, which are interrelated to very large extent,
had led to grave problems. The key problem we faced was that people
withdrew money and then deposited it back with the only aim to secure
partner reward. It was not barred by the rules at that time. As for
the entire system, this was a step into the abyss.

In order to withdraw the money we needed to request a betting company,
to wait some time and, when the money has come to the bank, to make
one more transfer - to Liberty Reserve. For the client it took nearly
10 business days to withdraw and receive money despite the declared
period was 12 hours! Eventually, we had a scheme where one part went
from the Liberty Reserve directly to cover payments, and the other
part - to the betting shops to maintain liquidity. The balance has
become more and more distorted. The most difficult problem was to keep
liquidity on the safe level in a situation of massive partner reward

There was a time to make several radical steps to normalize the work
and it was hardly feasible (even impossible) without a pause in
operations. So, we suspended the operations and that was the beginning
of something more interesting. Immense amounts were frozen by the
Perfect Money and GlobalDigitalPay. As for PM, everything is clear.
They just manipulated with information about our accounts' balances by
drawing 'zeroes'. Then they made the screenshot with this information
available for the entire internet. And by doing this trick they
apparently deemed our 'zero' balance proven. But pardon me, it is
their own system and they are able to replace any figure they want!
Generally speaking, Perfect Money scammed our company, using our break
and panic among clients. Now, unfortunately, nothing can be done in
this respect.

With respect to GDP the situation is rather slippery because Christer
Klasson allegedly had connections with GDP's CEO, or, to put simply, a
collusion. As for me, I cannot find another plausible explanation to
the rush when all clients were moved to GDP. Indeed, the GDP's
management had offered an attractive cooperation scheme, but it should
have been tested during a certain period of time. As a result, the
amounts concentrated in GDP were so enormous that I was shocked the
company did not go bankrupt and, instead, made a commitment to provide
debit cards.

Tedious process of recovery had started, and it faced serious
complications. Its difficulty was caused primarily by the unscrupulous
rivals who were afraid of the SportArbs's return to the scene. It
sounds strangely, but our rivals abetted the SportArbs's investors to
create problems for themselves. And before sorting out the situation,
our investors had begun to write complaints to whomever possible. They
tried to return their funds but did not realize that neither police
nor FBI or Interpol can do this. This is beyond their powers, but such
a case is a very good cause for these structures. Due to this mess the
company has been still struggling with serious problems.

2. In one of your previous posts, you wrote that referral scheme
abuses were one of the reasons to suspend the payments. Why you could
not block only abusers and then deal with them separately while the
fair clients' operations could be kept running?

As I have mentioned when I answered the previous question, abusers are
not the only problem we were struggling with. The problem was far more
complex. I can also add that even those who cannot fraud the system,
i.e. had no sponsor, withdrew the money and put it back immediately. I
am not criticizing the investors. Their behavior is correct and sound
because every investor must constantly be confident about liquidity
and safety of his money invested into the project.

Again, it was the website's management who made a mistake. They should
have designed clear rules. On the other hand, I do not think that the
SportArbs project would had become such a popular if there was
provided by the rules that to withdraw the money you have to wait
10-12 business days and to deposit - nearly 5-7 business days.

3. You wrote that payments are processed only to the investors
deposited money as from July 10, 2011. Why this date? And what about
investors made deposits earlier?

In June 2011 I became the Head of the Russian-speaking segment of the
SportArbs which accounts for nearly 30% of all investors. And day by
day I approached the company's management with proposals to restart
operations at least for new investors within new scheme. After a
month, my proposal had been considered and approved. And yes, now I am
proud that every investor who opened an account after July 10, 2011
receives payments without problems. Surely, this does not extend to
those who do not pay due attention to the partnership rules.

4. Many investors are willing to regain confidence in your project
only if and when their losses will be compensated. Are there any plans
to do this?

I think it is too early to talk about compensation. Our main goal is
to return the money initially invested. The decision on whether to
compensate and to what extent depends on the company's success which
will be fully determined by the level of investors' confidence.

5. Your project started in June 2009. This means that you had properly
operated over 11 months - up to May 2010 when first problems emerged.
But now, almost 2 years later, you have decided to restore operations.
What have happened to make you reopen the project?

Personally, I cannot fully explain this fact since I have seen 2009-11
financial statements. Trust me, those financial results usually should
lead to bankruptcy. However, some reserves apparently have been
engaged. From my view, the company's management is willing to stick to
the principle and to prove for everyone that the SportArbs is a real
business and have nothing in common with Ponzi schemes.

6. As it appears from the statistics published on your website, there
are 25,810 accounts in the project. It needs a lot of efforts to
process such a large number of accounts, to calculate compensations
accurately, to sort out deposits which are without reinvestment, etc.
How much time do you expect to spend doing this and how are you going
to do this?

More than 70% of accounts are clone accounts exploited by investors
mostly to increase partner reward and also inactive accounts. We have
been working over nearly a year. Huge number of investors has been
moved to Liberty Reserve. I expect that we will complete the task by
December 2012 and in a manner satisfying to all.

7. Please tell us about payment systems used in the project and,
particularly, about the debit cards. Are debit cards already operable?
And who have been able to obtain them? Do you cooperate with GDP and
LR systems?

At the moment we cooperate only with Liberty Reserve payment
processor. However, this cooperation accounts for less than 1% of the
average achieved during 11 months you have mentioned before. That is
why we cannot claim that that scheme would have been effective if had
been implemented. As for now, the project is doing well and nothing
predicts troubles.

The debit cards are operable already. But the entire scheme is very
complex and a certain amount of time will pass before the large-scale
rollout of debit cards starts. Prospects are not so shiny but nothing
can be done. Out of 70 debit cards sent to investors last year, only 5
are actively involved in testing. The rest were used by investors only
to withdraw the money and forget our project. And that is their own
choice. Anyway, the cards expiry year is 2016, and when we restore the
confidence in our project the majority of the investors will probably
come back.

In regards to the documents, it is highly desirable that the documents
are sent directly to the bank. It is cumbersome for us to do since we
had to create new department within our company to process client-bank
correspondence, though the bank had already had appropriate personal
operations internal unit. The problem is that we currently cannot
reveal our partner bank since it issues cards for another company
having a name similar sounding to the SportArbs's. We have authorized
them to use the SportArbs's trademark (to put a logo on the cards). We
are afraid of possible repercussions if some investors, who have not
understood that we are trying to resolve the problem, begin to send
numerous abuse complaints to the bank. This scenario will definitely
lead our initiatives to the end.

8. Have your Perfect Money account been suspended, haven't it? What
funds did you lose there? And the most important question - will you
restore the money deposited via Perfect Money?

I have already written about Perfect Money. In regards to the money
invested via Perfect Money, I can certainly tell that we will not act
as Perfect Money which simply drew 'zeroes' on the users' accounts.
Beyond doubt we will return at least the money initially invested,
and, possibly, will compensate two years of suspension.

9. Since the beginning of that problem period, has the money on your
accounts been working, or has it just been kept on the accounts? Are
these funds still working?

As it has been said, huge amount of money were lost in Perfect Money
and GDP. The rest part of the money has of course been working, and
still is working. I am talking about thousand of accounts at the
betting companies where the money is. There are always some problems
with some accounts, but the money deposited there is less than 1-2% of
total volume and all issues are resolved expediently. Thus, even if
there is an idle period for the money it is very short. Many investors
ask us to prove that we have huge amounts of money on accounts. But it
would be recklessly to hold millions of dollars on one account. The
money is dispersed among many accounts not only due to safety reasons
(to prevent accounts from being zeroed out as Perfect Money did) but
also because of maximum bet and other limits which are set by every
betting company.

10. There are many accounts with large amounts of accrued interest
because of 100% reinvestment. What amounts will be paid to these

Initially invested amounts plus compensation.

11. There are statistical data on the website's main page. To what
extent does this statistics reflect real figures? Will it be updated?

The statistics on the main page has very large margin of error. Soon,
when the large-scale rollout of debit cards starts, we will certainly
fix this issue.

12. You had had the stabilization fund. What did happened to it and
will it be used to make payments to the investors?

It is the stabilization fund that let our company to avoid bankruptcy
and to prove its effectiveness

13. Are you going to change your investment plans? Or, everything
remains as it was? Will you still offer reinvestment option?

We will change investment plans to make them more readable. We will
lower the rate announced on the main page. It will be, on average,
less than 2% but at last we will not receive hundreds of complaints
every day from people who did not set their accounts to reinvest and
now ask why they have not got the initially invested money. They do
not read rules, and then blame us for the consequences. We are not
going to tolerate this situation any more. Again, I would like to
stress the fact that previous website's management aimed to boost the
project by any means. Accordingly, they declared such features like
12-hours withdrawal period and designed too complicated investment
plans. They were interested in beautiful words and figures. There is
no need to use this strategy any more.

14. Unsatisfied investors have already written the complaints to the
police. And recently they started to send complaints to Interpol. How
will you tackle this issue?

In previous answers I have addressed this topic. I have nothing to add
but again to stress that investors put spokes in their own wheels.
Once more I want to emphasize that the police and Interpol will never
return the money to the investors. Only we are able to do this, and if
we are convicted and the SportArbs go bankrupt the only winners will
be the betting shops. All the money will remain on their accounts
since nobody will ask to withdraw these funds.

15. There is an announcement on the website that telephone support
line will be soon established. When will it happen? And will this
service deal with all issues?

This announcement was made before the crisis and now it is nothing but
website design element. We are not going to launch telephone support
service till the problems are resolved.

16. On some forums information has appeared that several investors
received email coupons promising $400 bonus if $1100 are invested. Is
that correct information? What is the goal of this mailing?

I have no information with regard to these given amounts since mailing
is automated and I have not checked the logs. Nevertheless, we of
course use coupons. Usually coupons are sent to those investors who
did not set reinvestment and were dissatisfied with their accounts
gone minus. For example, investor deposited $1000 and in a deposit
period gets $860 instead of expected $1441 which he would earned if
set 100% reinvestment. Thus, we propose to the investor the bonus
which is actually equated to the money he short-received. These
coupons are provisional instrument. It is likely that we will stop
this practice when the investment plans will change. Or, possibly, we
will keep some symbolic coupons like $5 coupon for holiday to make
something pleasant for our investors, even though it will not be very

17. Does your website continue to function? Last
news is from 03/01/2010 and it seems that the project is stopped.

Yes, we have a little problem with the news. The website is working
and the arbitration situations are constantly being updated. If you
visit regularly you will see that the number of
arbs is changing. For instance, now we have 4819 arbs. Upon request we
will provide free access to for anyone interested.
It is my own initiative, but I do not think that the company's
management will be against because there are so many arbs that if I
were they I would even abolish paid subscription.

18. There is no any unfavorable users' feedback on your website!

Firstly, all comments are subject to moderation. Secondly, a number of
negative comments is very small. We would remain them if there were no
insults. Negative feedback comes mostly from the clients who did not
set reinvestment.

19. When will the website support service be fully launched and
provide answers to the investors' questions? I am asking because there
is reportedly a lot of users requesting support and receiving no

Support service may ignore enquiries from those investors who have
already received an answer but nevertheless keep asking the same
questions or proposing their own solutions to the problem. Support
service cannot make decisions and, moreover, cannot help investors to
obtain the debit cards sooner, etc. Messages with obscene language are
automatically deleted. We also use powerful anti-spam filters which
sometimes tag the normal letter as spam. We are permanently enhancing
our system of communication with clients, but unfortunately we are not
magicians who just need to wave a magic wand to make an ideal support
service in a day. We are on the way and we try our best to create it
as soon as possible

20. What is your strategy to promote the SportArbs project given such
a serious situation? What are your marketing plans? Are you preparing
any interesting enhancements in the near future?

We do not plan the large-scale promotion as it was in 2009 until we
have fully resolved the problems. Otherwise, it would be like to waste
the money. Marketing spending does not bring benefit at the moment. Of
course, this does not imply that we are going to refuse all tools. It
is our obligation to ensure that the number of website visitors is
higher than minimum level. Because no one wants to be fired when the
company's management will understand that we do not work. I think that
we will also offer to your monitor to place our banner. It is up to
you whether to accept our offer or deny but I do not think that denial
would be the right decision. Your web resource needs funds, even to
distribute this interview. I guess that majority of the reasonable
investors will admit this initiative

21. Finally, do you have anything else to tell here? Maybe you wish to
say something to those who are in doubt whether to invest in your
project or not?

Key information provided in this interview hopefully will clarify the
situation to certain point. I would like to persuade all investors who
are nervous about their money, that the SportArbs is a reliable
company. If it were not, those 11 months would be the last and there
would be neither website nor money. And, as used to be said, nobody
will be any the wiser. There are a number of examples. I think that as
an administrator you clearly understand what I am talking about. There
fraudsters which gather the money, close the project and immediately
start another one, and so on. The SportArbs is completely different;
it is a real business, though it has some problems. And it is
necessary to emphasize that the business is risk free. The grave
situation we have got in was caused by negligence, hurry and other
reasons but not stemmed from the systemic problems in the business
core. On the contrary, it is the business core that did not let the
project disappear. Should it be another business core, everything has
been already collapsed. The SportArbs is the future of the online
investments! Best wishes!





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