Yeah, the reporting feature works, as far as I know.
I've reported several over the last week or two, and they do get deleted.
Or is that coincidence?
Maybe a Mod should let us know whether our reports are getting through to them.
You can't report a post more than once, so the system sees it as reported at least.
As for this method of advertising, are there really still people who would click links in posts like that?
The Internet has been around long enough now for people to know better.