A few weeks ago BehindMLM published a BetPlay365 review.
Today BetPlay365’s website is unresponsive. Further research reveals the company has been rebooted as Daxio:
You can also confirm this in the FAQ section of Daxio’s website:
Are you a licensed casino?
Yes, all Daxio products and games are jointly operated by Global Game Arena LTD and Novus Solutions Curacao N.V registered address Heelsumstraat 51,E-Commerce Park Curaçao, a company licensed and regulated by the laws of Curacao under the Antillephone N.V. license number 8048/JAZ2014-053.
This marks the fourth reboot of the Global Game Arena Ponzi scheme.
This time around Frode Jorgensen is being more careful attaching his name to Daxio. He was behind BetPlay365 though and there’s no indication he’s handed the reins over to someone else.
Daxio themselves don’t provide ownership information. The company laughably asserts it is “owned by the crowd”.
Daxio seems to have been set up on or around May 20th, less than a week after we published our BetPlay365 review.
The compensation plan and business model is the same, meaning our BetPlay365 securities fraud criticisms are still applicable.
So too is our BetPlay365 review conclusion, provided you swap out company names:
Daxio might have an irrelevant gaming license in Curaçao, but with respect to the MLM opportunity it’s little more than a symbolic attempt at regulatory compliance.
Pyramid schemes and securities fraud are illegal the world over.
With two prior attempts at MLM gaming niche having already failed, its’ unlikely Daxio will be around for long.
We do live in strange times though so in the event it does gain traction, MLM Ponzi rules apply.
All MLM Ponzi schemes rely on recruitment of new affiliates to stay afloat. When recruitment inevitably dries up they collapse.
The math behind Ponzi schemes guarantees that when they collapse, the majority of participants lose money.
At this point you’ve got to wonder what the point is. We’re four reboots in now and the last one didn’t last a month.
Will Daxio disappear and come back with a new name next month? Guess we’ll have to wait and see…