Originally Posted by
TheRivers
So according to KD last night (and he showed proof of this) Chrissy’s “live” gambling will be via BetOnline. In all likelihood he has one of those affiliation accounts that we’ve seen other streamers use. It’s all fake money and BetOnline uses this as a way to promote themselves via streamers The difference is that Chrissy will use it to make things look like he’s winning. Granted, you still have to play the actual games and show yourself winning. But he can create any kind of fake money amount he wants in his account and claim it used to be a lot lower (he already claimed he ran the account up to 3500 from 500 in one day). He also will push his inner circle folks to join BetOnline so that he gets a kickback (just like he promoted joining Coinbase using his link so that he gets free Bitcoin with each joiner).
The scam has definitely evolved and I would imagine we may have seen nearly the last of Chrissy in actual casinos (though I’m sure if he has good cash flow he will still film himself eating at Sadelle’s and Mayfair).
I definitely think this is one of the ways he will either branch the scam off into or take it completely in that direction. From what I understand with these affiliate accounts, they go through some type of middle man that works with BetOnline and other online bookies as a means to promoter their site. The middle man handles all of the affiliate accounts. Depending on the streamers "clout", this determines the amount of "fake money" that they are entitled to each month. They have to contact their middle man to "reload" their account. They do limit the amount of "fake money" they will deposit into each streamers account, to keep the affiliate streamers from getting carried away with it and betting insane amounts of money (fake) on each hand. These sites are very secretive about doing this. Their reputation would be greatly tarnished if real money players knew there were "fake money" players at the same table. I'm not sure how much of a referral bonus the streamer receives for signing up a customer, but any referral bonus pales in comparison to the kick back they receive on the back end of customers losses. I remember during Morgensterns last run, he made good money with this "affiliate percentage of losses" kickback scam. So every customer he brought to the site through a specific link he got a kickback of losses. If customers knew he was getting a cut of their actual losses, they would be furious.
Chrissy has always preached against online casinos. Now he realizes there are scam dollars to be made, so he has changed his position. Many months back when he started getting heat for running his scam in the larger casinos, I mentioned in this thread that this is the route he would probably take. My guess is he will do something similar to what Brunson FX did and record many sessions privately, then use the best winning one for the livestream. Brunson would then record his voice live over the prerecorded "winning" sessions. Brunson played on Fake money sites, so there were no time stamps. So it worked. If Chrissy does this, most online players will know he is not actually playing live. The largest part of Chrissy's followers are braindead, so they may not know.
This entire thing got me thinking about an advantage play (Way over Chrissy's head, but I think its interesting, so I will share it). So its reported that streamers get anywhere from 10%-40% of customers losses. This can actually create a huge advantage play. Don Johnson was able to win millions of dollars over a short period of time from casinos. One of the ways he did this was with "loss rebates". Without going into the entire deal, he would get a percentage of his losses back after he lost a certain amount of money from the casino. This was enough to turn a -EV game, to a massively positive one. I'm going to dig deeper into the exact structure of the kickback by BetOnline. With Blackjack they can afford to pay out a little more on the back end due to the greater house edge, and players varying from basic strategy increasing the house edge, but a game like baccarat where both sides can be wagered on and the house edge is minimal, it has definitely sparked my curiosity. With collusion between the streamer and "customer", the game could be crushed. My best guess is it would have to be accumulative losses per month by all customers, and baccarat streamers will get much less. My guess is Chrissy will be told this and begins to push his blackjack online.