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Sweeps Coin Mail-in Sweeps Coin Mail-in

11-16-2022 , 06:54 PM
The next batch...next year. lol
11-16-2022 , 06:55 PM
If 11 weeks isn't noatble, then I'm not sure what is...especially when I keep seeing and hearing 2-3 weeks....4-6 weeks as the average batch processing time. I am lost at this point....
11-16-2022 , 08:00 PM
This is much longer than it has been in the past, but I don't know where you got the 2-3 weeks. In the past it was 2-3 weeks between batches, but that didn't mean 2-3 weeks from when you mailed them. It is now 5 weeks since the last time they credited accounts - on October 12 - so it is very possible that when they finally do credit them yours will be included. But there is no guarantee of that. I know you are getting impatient, and that is understandable (I am also a little impatient). But coming on here and continually complaining is not really going to help get them processed. All I know is that a bunch of envelopes get mailed to Global in New Hampshire - and after something happens, they eventually credit everyone's account that they deem deserves it. What they actually do there, and also where they might actually be processed, if not in New Hampshire, is a mystery.
11-17-2022 , 09:38 AM
I got 2-3 weeks from another 2+2 member...not from my own experience or knowledge...I've never been credited for one letter before...Also, I stated long ago that I would update my experience with this process until I get credit for the time and money that I invested into their legal format that allows for Sweeps Coins to be credited lawfully. I have money on Global and play there everyday regardless....this is just very poor business practice. I have zero reason to stay calm and bite my tongue...they have some of the highest rake on the internet and I've been more than a loyal and paying customer of theirs over the years...It's just very typical...I'm going on 12 weeks now...You can call it what it is, but at this point I don't really have any sympathy for them...they need to take care of their customer base...this is a vital part of their ability to conduct business per the law. Complaining is certainly an acceptable emotion and what better place to display it than an online poker forum...shouldn't be confusing or surprising....especially when it's clearly justified.
11-18-2022 , 10:02 AM
Quote:
Originally Posted by GamblingSavant
I got 2-3 weeks from another 2+2 member...not from my own experience or knowledge...I've never been credited for one letter before...Also, I stated long ago that I would update my experience with this process until I get credit for the time and money that I invested into their legal format that allows for Sweeps Coins to be credited lawfully. I have money on Global and play there everyday regardless....this is just very poor business practice. I have zero reason to stay calm and bite my tongue...they have some of the highest rake on the internet and I've been more than a loyal and paying customer of theirs over the years...It's just very typical...I'm going on 12 weeks now...You can call it what it is, but at this point I don't really have any sympathy for them...they need to take care of their customer base...this is a vital part of their ability to conduct business per the law. Complaining is certainly an acceptable emotion and what better place to display it than an online poker forum...shouldn't be confusing or surprising....especially when it's clearly justified.
Two to three weeks is how often they used to credit them but it always took a few months from when you mailed them to get credit. Recently though, they aren't crediting every two - three weeks like they used to. The two month wait from when you mailed is also taking longer than before.
11-21-2022 , 09:39 AM
Someone with some insider information shared within my group that VGW receives north of 2 million envelope requests per month. They are being bombarded with requests. As knowledge of free credits grow, expect longer wait times.

There are envelope groups on Facebook, Reddit, and Quora. There are people on YouTube and TikTok still putting out recent videos sharing how to get in on free money by writing envelopes. It's silly to do this, but the creators want the views. No matter how much money they make, any business is going to decide how much free stuff they are willing to give away.

It would have been a lot better if people had to discover this information naturally because they were genuinely interested in playing on these sites for fun and entertainment. Advertising this online to random people is not smart. Perhaps codes and longer wait times will discourage some people from writing. We'll see.

BTW, there are many of us that haven't received credits from envelopes sent in June and July. So, be patient.
11-21-2022 , 11:03 AM
Quote:
Originally Posted by RedStrip
Someone with some insider information shared within my group that VGW receives north of 2 million envelope requests per month. They are being bombarded with requests. As knowledge of free credits grow, expect longer wait times.

There are envelope groups on Facebook, Reddit, and Quora. There are people on YouTube and TikTok still putting out recent videos sharing how to get in on free money by writing envelopes. It's silly to do this, but the creators want the views. No matter how much money they make, any business is going to decide how much free stuff they are willing to give away.

It would have been a lot better if people had to discover this information naturally because they were genuinely interested in playing on these sites for fun and entertainment. Advertising this online to random people is not smart. Perhaps codes and longer wait times will discourage some people from writing. We'll see.

BTW, there are many of us that haven't received credits from envelopes sent in June and July. So, be patient.

This is the problem, yet 2M / month is way north of what I was thinking. Just wow. Hopefully they are busy taking out the trash during this hiatus. Anyone sending many hundreds or thousands a month should be auto-banned. Cue the forum lawyers to cry about that.
11-21-2022 , 12:44 PM
Several months ago, the number of envelopes received was estimated to be around 700K per month. So that number (if accurate) has tripled.
11-21-2022 , 04:10 PM
Two million a month is insane. I was worried they would ban me if I sent 10 a week!
11-21-2022 , 07:53 PM
Free money never works in any capacity without leaches taking advantage. Unemployment, food stamps, and disability is all taken advantage of. For every good honest person there are 10 more losers who want a free ride. I hope they limit it to a few per month and put 100x play through. It doesn’t help traffic anyway other than maybe one or two days every few months. If it makes the site legal I want them to do the bare minimum
11-21-2022 , 08:50 PM
According to an article from September, VGW is buying back stock, paying a big dividend, and has an annual operating profit of about $550 million. I think that might be Australian dollars, but this still translates to the fact that they are doing very well with their business model. The company is valued at over $5 billion, and heading toward a public listing in the US (in which case all the financials will be publicly available). Perhaps for every request sent in, they will give you a share of stock

I see ads for Global (and Chumba) constantly, and the primary message of their ads is that it is free to play, and they brag about how many sweeps coins they have given away. If you don't want to send in requests, don't. And if you do want to, go ahead and write as many as you feel like writing. They have stated on this forum that nobody has ever been banned for sending in too many requests.

I personally can't figure out how the math works for them, because there doesn't seem to be that large of a player base. I don't know how they can be giving out millions of sweeps coins a month and somehow making that back in rake, but the evidence seems to suggest they are doing just fine.
11-21-2022 , 10:38 PM
Quote:
Originally Posted by VBAces
According to an article from September, VGW is buying back stock, paying a big dividend, and has an annual operating profit of about $550 million. I think that might be Australian dollars, but this still translates to the fact that they are doing very well with their business model. The company is valued at over $5 billion, and heading toward a public listing in the US (in which case all the financials will be publicly available). Perhaps for every request sent in, they will give you a share of stock

I see ads for Global (and Chumba) constantly, and the primary message of their ads is that it is free to play, and they brag about how many sweeps coins they have given away. If you don't want to send in requests, don't. And if you do want to, go ahead and write as many as you feel like writing. They have stated on this forum that nobody has ever been banned for sending in too many requests.

I personally can't figure out how the math works for them, because there doesn't seem to be that large of a player base. I don't know how they can be giving out millions of sweeps coins a month and somehow making that back in rake, but the evidence seems to suggest they are doing just fine.
My guess is the slots arms of the corp. are taking in the profits. I hope they keep poker going but I don't see it being too profitable for them.
11-21-2022 , 10:51 PM
I agree the player base is laughable and the slots bring in the real money. Companies go bankrupt all the time no matter the revenue. Nothing is safe from human error. FTX and Full Tilt are perfect examples. I can’t even imagine how much money they are giving away. It doesn’t seem to be sustainable but I have no facts on the matter. All I know is it doesn’t help traffic on the poker side. Even the small daily bonus of 3 bucks a week to who knows how many people would add up
11-22-2022 , 02:04 AM
Common sense says if free sweeps requests continue to grow especially with it being promoted on YouTube, TikTok and other sites to random people, that more and more, the free sweeps will cut into the profits.

This should have been the best kept secret.
11-22-2022 , 06:42 AM
(RANT) When I read this thread and others, I get the impression that that a significant percentage of posters think that Sweeps Coins are real money. Like when Global Poker gives me $5 Sweeps Coins, they actually withdraw $5 from their bank account and I have a $5 increase in my cash balance. I do not have a cash balance, I have sweepstakes entries. Sweeps Coins are sweepstakes entries not cash. It costs Global much less than $5 to process my envelope and have someone, probably a computer, credit me with more sweepstakes entries. That cost should easily be overcome by rake. That is why I truly believe they do not care how many you mail in.

It is estimated that about 95% of all poker players are losers over the long term so a lot of the sweeps coins get raked several times before being cashed out by a winning player. Unfortunately some of us "Envelope Stuffers" don't play very well and those of us that abuse the system or violate their Terms and Conditions get banned. Sweeps Coins are not real money until they approve my Prize Redemption. IIRC, their Terms and Conditions specifically state that I do not have a cash balance, I do not make deposits or withdrawals.

The other threads that reinforce my belief that some confuse Sweeps Coins with cash are the threads where people state "Global Poker Stole my Money". Sorry but they did not steal your money. You purchased and received Gold Coins, you did not make a deposit into a cash account.(/RANT)

I believe it is really important to remember Sweeps Coins are not cash.
11-22-2022 , 09:12 AM
It sure gets deposited into my bank as real cash dollar for dollar lol
11-22-2022 , 12:24 PM
Quote:
Originally Posted by tiger24
It sure gets deposited into my bank as real cash dollar for dollar lol
Yes, after your redemption request is approved, your sweepstake prize(s) is/are real money.
11-22-2022 , 06:52 PM
The point is inflation went nuts and a new generation of envelope grifters has found a way to get massive amounts of "Sweeps Cash" and discovered the loopholes that allowed them to turn thousands of envelopes ($10k +++ in some cases, per month) into CASH. That is not sustainable. That is why the Bawstens of the GP world went bye bye a couple years ago, and why the postal request code was added, and hopefully why many of the new scammers are being rejected and banned. I would imagine that is a difficult process, and hence people have been waiting months for credits to arrive. I have every reason to believe GP will take care of its rake-producing envelope stuffers in due time, but I wouldn't blame them for making it even more difficult.

I will also add that they shut down Fendoff, a sports betting site based on the sweepstakes model, last year. Don't think they won't give poker the axe if they can't figure this out. Which would suck for all of us.
11-22-2022 , 09:31 PM
12 weeks today...still waiting.
11-23-2022 , 12:55 PM
They should definitely have a limit on how much someone could do this, or just cut this mail in for sweeps crap altogether. Honestly it's just weird. Find another easier way.
11-23-2022 , 03:59 PM
15 weeks here.
11-23-2022 , 05:55 PM
They have chosen to not have a limit on how many you can send in. The amount doesn't make any difference if you have to meet the criteria in order to cash out...meaning play through, etc. With a 5% rake, they are doing just find and also having a $50.00 minimum cashout amount, most players never cash out and provide 10x the rake or play through that was required. With the profits that are publicly shown...all of our hands would fall off before we'd make a difference in the bottom line from envelopes...hahahaha
11-24-2022 , 11:59 PM
Quote:
Originally Posted by GamblingSavant
They have chosen to not have a limit on how many you can send in. The amount doesn't make any difference if you have to meet the criteria in order to cash out...meaning play through, etc. With a 5% rake, they are doing just find and also having a $50.00 minimum cashout amount, most players never cash out and provide 10x the rake or play through that was required. With the profits that are publicly shown...all of our hands would fall off before we'd make a difference in the bottom line from envelopes...hahahaha
If that is true, then why do they make changes? There was a guy on reddit bragging that he was the reason that VGW created the request card. This guy spent many thousands on postage sending in as many envelopes as he could. Now with the request card, people are still sending in high amounts. There was one lady in my group who said for 30 days straight she wrote 200 envelopes and cards for a total of 6000 requests. People were awe struck. She lost me when she said that each day it only took her 8 hours, which I know has to be a lie. Now we have the code that can only be generated every 5 minutes. So, if someone generated codes for 10 hours per day, they can only get 100-120 codes during that time. So, it's not quite unlimited like before.

If they were truly receiving 2M requests per month prior to the code, imagine how many they would have been getting with just the envelope without the request card. If they were to get 10M requests per month, that is $50M/month and $600M per year. There is a limitation on giving away free stuff. Some people refuse to believe this. I hope they add to their terms that you can't promote the envelopes for profit. Even if you cash out, it supposed to be for entertainment and fun.

Last edited by RedStrip; 11-25-2022 at 12:06 AM.
11-25-2022 , 02:09 AM
Quote:
Originally Posted by RedStrip
If that is true, then why do they make changes? There was a guy on reddit bragging that he was the reason that VGW created the request card. This guy spent many thousands on postage sending in as many envelopes as he could. Now with the request card, people are still sending in high amounts. There was one lady in my group who said for 30 days straight she wrote 200 envelopes and cards for a total of 6000 requests. People were awe struck. She lost me when she said that each day it only took her 8 hours, which I know has to be a lie. Now we have the code that can only be generated every 5 minutes. So, if someone generated codes for 10 hours per day, they can only get 100-120 codes during that time. So, it's not quite unlimited like before.

If they were truly receiving 2M requests per month prior to the code, imagine how many they would have been getting with just the envelope without the request card. If they were to get 10M requests per month, that is $50M/month and $600M per year. There is a limitation on giving away free stuff. Some people refuse to believe this. I hope they add to their terms that you can't promote the envelopes for profit. Even if you cash out, it supposed to be for entertainment and fun.
Bingo! There isn’t some bottomless pit of money. Imagine the amount of employees they need just to go through these envelopes. What a nightmare they’ve created for themselves
11-25-2022 , 04:25 AM
yea such a nightmare to profit 100s of millions lol. If they didnt have the free sweeps model their sites wouldnt have had nearly the amount of traffic and grown nearly as fast so it is helping them in the long run. Obviously theres a breaking point to where if everyone sends in tons of envelopes it starts to be unideal for them which is why theyve made it a bit harder to send in ridiculous amounts. But lets not act like envelopes is overall a horrible thing for them, it drastically helps site traffic and the long term health of the site.

Anyways, looks like the next batch is finally in. time to party!

      
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