BitSports operates within the cryptocurrency MLM area of interest.
The corporate operates from the web site area (“bitsports.ai”), privately registered on March sixteenth, 2023.
BitSports is headed up by Colombian nationwide Hugo Rodriguez Salgado.
Each Rodriguez’s and Sarmiento’s BitSports company bios cite “expertise in community advertising and marketing”. I wasn’t capable of finding something MLM associated on both.
Hugo Rodriguez seems to be a crypto bro who hasn’t achieved a lot of something over the previous decade. He’s been shilling dodgy sounding funding schemes for years.
Unsure if it is a language-barrier on my finish or if Rodriguez and Sarmiento are fall guys. Supporting the latter are BitSports’ advertising and marketing movies being narrated by a robovoice dub.
What I do know is Colombia has emerged as a hotbed of MLM associated crypto fraud over the previous yr.
Though it’s not linked from BitSports’ web site, an “official” FaceBook web page gives a BitSports company handle in Lithuania.
This web page was created two days after BitSports’ area was registered however I’m not 100% positive it’s “official”.
BitSports additionally might need ties to Dubai.
BehindMLM’s tips for Dubai are:
- If somebody lives in Dubai and approaches you about an MLM alternative, they’re making an attempt to rip-off you.
- If an MLM firm is predicated out of or represents it has ties to Dubai, it’s a rip-off.
If you wish to know particularly how this is applicable to BitSports, learn on for a full evaluate.
BitSports’ Merchandise
BitSports has no retailable services or products.
Associates are solely capable of market BitSports affiliate membership itself.
BitSports’ Compensation Plan
BitSports associates make investments USD equivalents in cryptocurrency on the promise of marketed returns.
- Elite – make investments $10 to $999 and obtain 0.7% to 1.2% a day
- Professional – make investments $1000 to $9999 and obtain 1.3% to 1.8% a day
- Max – make investments $10,000 to $100,000 and obtain 1.9% to 2.4% a day
BitSports pays out returns day by day apart from Mondays.
BitSports caps returns at 300%, which incorporates MLM commissions. After this cover is reached, reinvestment is required to proceed incomes.
Word that BitSports associates are required to log in day by day and click on a button. In the event that they don’t do that, the ROI charge drops to 0.3% for the next week.
The MLM aspect of BitSports pays on recruitment of affiliate traders.
BitSports Affiliate Ranks
There are eight affiliate ranks inside BitSports’ compensation plan.
Together with their respective qualification standards, they’re as follows:
- Bronze – generate $10,000 in downline funding
- Silver – generate $20,000 in downline funding
- Gold – have one Bronze ranked affiliate on either side of your binary group and generate $50,000 in downline funding quantity
- Sapphire – have one Silver ranked affiliate on either side of your binary group and generate $150,000 in downline funding quantity
- Ruby – have one Gold ranked affiliate on either side of your binary group and generate $300,000 in downline funding quantity
- Emerald – have one Sapphire ranked affiliate on either side of your binary group and generate $1,000,000 in downline funding quantity
- Diamond – have one Emerald on either side of your binary group and generate $3,000,000 in downline funding quantity
- Ambassador – personally recruit a Diamond ranked affiliate and generate $5,000,000 in downline funding quantity
Word that for required ranked downline associates, at the least one have to be personally recruited.
Referral Commissions
BitSports pays a referral fee on cryptocurrency invested by personally recruited associates.
Referral fee charges are decided by how a lot a recruited affiliate invests:
- recruit an Elite tier affiliate and obtain 8% of what they make investments
- recruit a Professional tier affiliate and obtain 9% of what they make investments
- recruit a Max tier affiliate and obtain 10% of what they make investments
Residual Commissions
BitSports pays residual commissions through a binary compensation construction.
A binary compensation construction locations an affiliate on the prime of a binary group, break up into two sides (left and proper):
The primary stage of the binary group homes two positions. The second stage of the binary group is generated by splitting these first two positions into one other two positions every (4 positions).
Subsequent ranges of the binary group are generated as required, with every new stage housing twice as many positions because the earlier stage.
Positions within the binary group are crammed through direct and oblique recruitment of associates. Word there isn’t any restrict to how deep a binary group can develop.
On the finish of every day BitSports tallies up new funding quantity on either side of the binary group.
Associates are paid a proportion of recent funding quantity generated on their weaker binary group aspect.
The proportion paid out is set by how a lot a BitSports affiliate has invested:
- Elite tier associates earn an 8% residual fee charge
- Professional tier associates earn a 9% residual fee charge
- Max tier associates earn a ten% residual fee charge
As soon as paid out on, funding quantity is matched in opposition to the stronger binary group aspect and flushed.
Leftover quantity on the stronger binary group aspect carries over.
Rank Achievement Bonus
BitSports rewards associates for qualifying at Bronze and better with the next one-time Rank Achievement Bonuses:
- qualify at Bronze and obtain $200
- qualify at Silver and obtain $300
- qualify at Gold and obtain $1000
- qualify at Sapphire and obtain $3000
- qualify at Ruby and obtain $7000
- qualify at Emerald and obtain $30,000
- qualify at Diamond and obtain $75,000
- qualify at Ambassador and obtain $150,000
Becoming a member of BitSports
BitSports affiliate membership is free.
Full participation within the hooked up revenue alternative requires a minimal $10 funding.
BitSports solicits funding in numerous cryptocurrencies.
BitSports Conclusion
BitSports represents it has an AI bot that makes sports activities bets.
BitSports is the primary AI-driven arbitrage platform that identifies real-time alternatives.
Historic efficiency, participant statistics, climate situations, volumes, places, variety of contributors, and even the probability of the identical entry being repeated to take a position essentially the most acceptable quantity is simply among the knowledge we analyze.
No proof of BitSports having or producing income with such a bot is supplied.
BitSports’ enterprise mannequin additionally fails the Ponzi logic check.
If BitSports had a bot able to producing as much as 2.4% a day, they’d run it for themselves. What do they want your cash for?
It makes zero sense for BitSports to supply their bot to the general public and for as little as $10.
The truth is BitSports is one more MLM crypto Ponzi scheme. “AI” is just a part of BitSports enterprise mannequin such to the extent it hopes to capitalize on the present AI pattern.
On the regulatory entrance BitSports fails to offer proof it has registered with monetary regulators in any jurisdiction.
Because of this, at a minimal, BitSports is committing securities fraud. MLM and securities fraud lends itself to operation of a Ponzi scheme.
As with all MLM Ponzi schemes, as soon as affiliate recruitment dries up so too will new funding.
It will starve BitSports of ROI income, finally prompting a collapse.
The maths behind Ponzi schemes ensures that once they collapse, nearly all of contributors lose cash.
