Please note: This is an opinion piece, meaning that it is just our opinion about the merits of Ozplatinum. Please use your own judgement in deciding whether to invest or not.
Ozplatinum , Ozplatinum.com.au
Their stated aim is to make for you a passive, residual income from multiple investment platforms. Currently they are only offering a horse racing, lay betting, managed service.
Being a company that operates from the Gold Coast and is involved in horse race betting, both areas of wide-spread scam abuse in the last several years, I think it is in the public interest that they be reviewed. This is not to say they are a scam, or even dodgy. This company may well set new standards in this industry if they stay true to their mission of being open and transparent and succeed in creating redisual income for their clients. We wil have to see how their lay trading program performs.
Already they have shown that they behave differently to the known scam companies. They are where they say they are. Their Directors as listed with ASIC are actually there in the business and not some front-men. They are making a whole hearted effort to be transparent and have already shown that they are willing to address issues with their program and client’s satisfaction.
Now to their lay betting product:
Ozplatinum have been offering the program with entry level starting at $3,000 ( + GST) with about the same in your trading bank ) and going up to a $24,000 licence, again with about the same in your trading bank. The target profit from whichever licence you have is 10% of your licence price plus bank, per month. Eg: if you buy the $3,000 licence you should make $600 per month. They also take 50% of the monthly profits. It is unclear to me whether that is gross profit..for instance if you lose ground one month and then hit a new high the next month, do they take 50% of all that month’s profit
They offer a free trial, if you put in $200 to a Betfair account. The goal of the trial is to make you $50 profit.
So how does OzPlatinum stack up?
There are results puiblished on their website as well as their Facebook page for all to see. February, on the website, looks to have been a good month. There is a mixture of lay bets as well as back bets. I am not sure why the back bets are included and it is unclear whether they are part of their strategy or not. I was told by management that they don’t do any back bets any more.
I have heard from some triallists that there has been some back-betting at times. Not that there is anything wrong with that, it is just unclear what the strategy is.
I have had mixed reports on the trials. Some reach their $50 profit in less than ten bets. Someone else took around 100 bets to get there. Some people lost.
They say they will return any lost funds. I would hope that they put that in writing before any trial commences. If you qualify for Betfair’s $200 bonus, note that they do not guarantee the safety of that $200 as well. So they could lose $150 of your bonus and though the trial didn’t make a profit, they could say that they don’t owe you anything because you still have more than you started with (as has happened with one trialist). except that you would have actually lost $150 of your bonus money. (there are conditions to the bonus with Betfair however, and that means you can’t just withdraw it..you do have to bet it through).
The trial is fairly agressive, targeting risks of around 30% of the bank for each bet so the bank could be wiped just as easily as make $50 profit. I think it would be better to target lower risk to show the fluctuations you might expect realistically in your account. I think the aim of a trial should be to show you how well their system works over a reasonable period, rather than just try to make you some quick cash.
I would prefer to see them offer a substantially long trial, say at least a hundred bets. The odds seem to vary from as little as 1.50 to over 300 in one case. They lay to a liability, meaning that risk is limited which is a good way to lay the longer priced selections. Still, with many longer priced selections (say roughly 20.00 average) a long trial is necessary to get a guage on winning and losing sequences.
Of course there will be ups and downs, winning and losing months. Even the best services can slump for months at a time. Long term statistics and results is all you can really go by.
I don’t like the idea of outlaying a large upfront fee for the service. They don’t mention refunds..you’d have to check the contract before you sign. I think a much better and fairer option would be to offer monthly fees rather than the large upfront fee, given that they don’t have a long track record, yet. At least you would be able to dip your toes in and see how it pans out. Management have said they are considering that but I have seen no change on their website yet. Also, the 50% take of profits seems rather large. It’s hard enough as it is to win in this game without losing half of your profits. I would like to see them take smaller commissions.
They do use a sales team to call prospective clients, which I suppose many businesses do. Just beware that sales people, in any business, do not necessarily always have your best interests at heart (some do, some don’t, depending on the quality of the product) since they usually work on commission. You really need to take care and make sure you don’t get pressured into anything. Take you time, do due diligence and think carefully before investing large amounts of money. Only invest what you are comfortable risking.
If it interests you, I’d advise getting as long a trial as you can. At LEAST a hundred bets. After that, if you’re satisfied, then you need to consider whether you should go ahead. It may well be profitable, but you won’t know until months down the track. It is a bit of a gamble to outlay the upfront membership fee which will represent more than your bank. A better arrangement might be profit share or monthly fees rather than an upfront fee which is not refundable (?). I would try to negotiate something like this if they are not offering it. Also, try to get guarantees for any licence fees paid.
Please read comments below for other opinions about Ozplatinum. The comments do not necessarily represent the views of Aussie Scam Alert, and some, but not all are verified.
If you’ve had experience with Ozplatinum please contact us. We’d love to hear how you got on.
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