» » Intervest Live Horse Racing Software - I bought the program for $19750 and then lost $23000 over 18 months. Beware!! QLD | #485

Complaint / review / scam report
Intervest Live Horse Racing Software
I bought the program for $19750 and then lost $23000 over 18 months. Beware!! QLD

My name is Leanne Blyth and I am embarrassed to admit that I did buy a horse racing software program and no surprises - got ripped off

I PAID $19 750 for the software, that has never worked.
I LOST $23 000 in my first 18 months.
If you have also bought Intervest Global or Intervest Live Horse Racing Software, please contact me.
leanne.blyth@bigpond.com

I was seriously mislead when I was sold the program, the company Intervest Global were not upfront in providing information about the technical aspects of the program. I also did not receive any documentation, license or contract agreements.
Simply an invoice and a how to load instruction sheet.
I have been burnt, and now simply wish to share my story with others so as they too, don't get ripped off.
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HERE IS MY STORY

My intention was never to be rich, I was simply looking for a work from home business, something that I could do a few hours a day, around my kids school hours.
I have a fairly solid computer back ground and being able to work on my PC at home whilst the kids were at school was very appealing.

I had no horse racing experience, I had never even been inside a TAB and the salesman assured me that I was the perfect customer as I was not a gambler!

Don't be fooled, it is absolutely gambling.

Aside from that, here are a few facts:
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The company I bought the software from was: INTERVEST GLOBAL or Intervest Global Live.


**FACT**

YOU DON'T HAVE A LICENCE

* The program you buy, is actually software that skims the data from the TAB website.

You, do not have any license agreement with the TAB to do this.

In fact Intervest Global don't have a licence, or any written agreement to use this data either, and if you call the TAB, they will tell you that they do not approve any Third Party companies skimming their data.

That is in fact what you have bought, a third party horse racing software that skims the data from the TAB and puts in on a data page, without any permission or contract to do so.
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**FACT**

INTERVEST GLOBAL DO NO HAVE PERMISSION, A CONTRACT, OR A LICENCE!
To skim the data from the TAB website and put it into another format.

This was the biggest shock to me. It would not have occured to me that a company that claims integrity, and considers themselves to be the best in the business, actually has no licence to take the data and transform it from the TAB. Intervest claim to have great working relationship with the TAB but in fact, the TAB owe them nothing and don't ever consult with Intervest Global regarding their horse racing software.


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**FACT**

THE RESULTS SHOWN ON THE INTERVEST GLOBAL WEBSITE
SHOW DECISIONS or BETS MADE AFTER THE RACE WAS WON!

* Intervest put stats up on the website stating the results of horse races and how much money they made.
The better these results, the more Intervest Global Horse Racing software licences they sell!!
So you bet they want them to look good.

These results are not actual trading results, they actually collect the data and make their selections at the end of the day, or at the end of the week, -
AFTER THE RACE WAS WON AND THEY KNEW THE RESULTS.

YES, they actually trade in hindsight, knowing who won! They have only recently placed the statement on the site saying that the results are not actually live, but they don't specifically state that they play in hindsight. They say the results are indicative of someone with a lot of experience using the data to make decisions.

So how much do you think someone who has no experience, in there first year would make?

Think how much they would lose!!

LAST YEAR, INTERVEST GLOBAL LIVE ONLY Traded or "WON" $40 389 for the year.
THE YEAR BEFORE THEY DID $66 934.
THE YEAR BEFORE IT WAS IN THE $70 000 ..ish.
Can't tell as they have taken the results down.

So, the experts, making decisions knowing who won the race, only made $40 389 for the year!!
The results have gone down for the last 3 years.
Can you imagine how hard the trading was when you were actually playing live????
ALARM BELLS SHOULD BE RINGING.

I lost $18 000 in my first year. I should have stopped but only kept going as they assured me all I needed was more training, the tide would turn etc.
There was always an excuse for the poor trade.
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**FACT**

PROBLEMS WITH THE SOURCE DATA - FROM THE TAB

* Over the last 18 months, the TAB has had problems with its website and the data flow.
Their website was over 6 years old and could not cope with all the new traffic from internet betting etc.
The Intervest Global Live horse racing software was also 6 years old and had gone through many, many add ons.

Hence, Intervest skimming the data also had problems and there were many days or parts of days when the TAB site went down, and therefore, so did the ability to run the Intervest Global horse racing software. These are recorded as Data Corruptions.

I bought the horse racing software in August 2005 and there were fairly major data corruptions then. In fact the TAB site crashed most Saturdays, which is the major trading ((or betting) day).

When the TAB made some fixes, Intervest Global, then had to scurry around and fix their software to match the changes from the TAB. This happened continually over the year and then one day, the Intervest Global Live software which used to work on my PC actually stopped working and became unusable. Once again the blame was put on my 1 year old computer, they were adamant that it was not the software. I then had to go and buy another laptop to try and get the software to work. I know of another lady in Canberra who also had this problem and was not able to use the software for months.

No explanation or compensation from Intervest Global Live.

There were so many problems with the TAB website, that they completely rebuilt their site in 2006.
They did so without any prior notice to Intervest Global.
Why should they notify Intervest Global - Intervest Global have absolutely NO CONTRACT or agreement with the TAB.

Intervest Global had to completely re write their whole software program to try and get around the new restrictions and securities in the new TAB data flow.

In November 2006, Intervest Global was unusable for WEEKS!

The launch of the new software called Trilogics, still has timing issues and the upgrades continue to come.
I was continually questioning race decisions and there were absolute discrepancies at the 1 minute mark of data flow. As races are evaluated at the 1 min mark, this was crucial as to whether you went in a race or not.
Intervest were not so bothered about this problem as they don't make live decisions at the 1 minute mark, in fact they weren't bothered by the data flow problems as they don't actually trade themselves, they just collect the data.

THE WAY THAT INTERVEST GLOBAL SOFTWARE WAS FEEDING THE DATA TO US ( the end users) FROM THE TAB WAS NOT RELIABLE!

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**FACT**

LOW/DECREASING PROFITABILILTY!

So our problems were not being experienced by Intervest Global Live as they actually don't trade live.

There main concern was the profitability of races and many of the end users were expressing concerns about this.

The fact is that Intervest Global Live continue to sell more licences for the programs. So if there are 500 users, playing on a Saturday, and we all go in the same race, the $prize pool is divided amongst the 500 who are trading.

As Intervest continue to sell more programs, then there are say 800 people trading on the same day on the same race. So the $prize pool is now divided among the 800.
Over the past 6 years, Intervest are now cannibalising themselves!

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**FACT**

LONG TERM USERS ARE BAILING!

A long time user of the software and the guy who showed me the program originally, is no longer using or recommending the service as he has no faith in the data.
He was one of the original guys and is now saying NO WAY!

I spoke with another long term user in SA, only to find that he hadn't really used the software for months, he was busy doing other things.
So, the long term users are drifting away.

If you wish to chat to me further about Intervest Global Horse Racing software,
feel free to email me.
leanne.blyth@bigpond.com

Leanne
kingscliff
Australia



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