What books will accept a cashier's check that is payable to me and then endorsed to the sports book? Most of the books I have talked to do not like this idea.
Announcement
Collapse
No announcement yet.
Cashier's checks endorsed to the book
Collapse
X
-
Sometimes I get a check from a book in Antigua (payable to me)and want to send it to a book in Costa Rica or vice versa. It's more convenient to endorse the check and send it to the other book. If it's a large check it's better for me to keep the money offshore without ever going through my bank.
Comment
-
ya, this is a no-brainer as far as why you
want to do it this way. I think books
are always trying to dissuade from anything
but sending them cash, the faster the better.
(western union) I hate having to deposit a
check and then wait almost a whole work week
until the funds are available before withdrawling the cash, and then sending by
cash or another check to another sportsbook.
Your money is sitting on the sideline for
close to a week. (or more)
Besides the delay of not sending money
western union I can't think of any good reason why a sportsbook wouldn't accept endorsed checks?
Comment
-
ATTENTION ALL SPORTS BOOKS
While I was at Action Sports we had a problem that I am sure a few other books have come across. Some customers sent us cashiers checks that looked as real as any cashiers check we have ever gotten. The problem in the Caribbean is the week to two week clearing time for US cashiers checks. Well what happened is customers sent cashiers checks that looked real and they won and requested and got payouts before we found out the checks were no good. When we got these checks back from the bank they looked as good as any legitimate check from any bank that we had received over the years. This was a small isolated incident with two customers. This presents a problem as customers think you are trying to scam them and not pay them if you want them to wait until the check clears before they can receive any payouts, which can be as long as two weeks when dealing with Caribbean Banks. The amounts of money that can possibly lost is unimagineable if the customer goes on a winning streak and requests his payouts. I guess this is up to the individule Sports Book to decide how they are going to deal with this problem. You almost hate to lose a legitimate customer who wants to sign up with you but does not want to be told he has to wait at least two weeks before he can take his first payout, but there is a risk involved as these new laser printers can print out checks that look even better than the ones coming from the bank with the amount stamped on them and two "corporate" signatures.
Leo Walters
Comment
-
To MLS:
That is a very simple and obvious answer and the reason I never did this is that we were in our 3rd year of operation and never had this problem come up once with hundreds of cashiers checks that had been run through our bank. This was an isolated incident that occured with 2 customers that were friends of each other and I would imagine they had pulled this scam on a few sports books at the time, I believe it was in May of this year, but like I said this was the first time anything like this had ever happened. I think that is a very good idea to make a phone call to check the validity of a cshiers check in this type of situation.
Comment
Comment