QUESTION FOR STIFFED PLAYERS???

[REALITY]

IF YOUR BOOK WENT BELLY UP AND A BOOK WITH AN UNBLEMISHED REPUTATION FOR PAYMENT MADE YOU THE FOLLOWING OFFER,WOULD YOU ACCEPT IT?

MAKE A CASH DEPOSIT EQUAL TO YOUR VERIFIED BALANCE AND AGREE TO PLAY THE VERIFIED BALANCE AND YOUR DEPOSIT 10 TIMES OVER BEFORE YOU MADE A WITHDRAWL.

EXAMPLE:

YOU HAVE A VERIFIED BALANCE OF $5,000 DOLLARS.

YOU SEND IN $5,000.

YOUR BALANCE IS NOW $10,000.

YOU MUST PUT 10 TIMES YOUR BALANCE OR A $100,000 INTO PLAY BEFORE YOU ARE ELIGIBLE FOR A PAYOUT.

IF YOU REQUEST A PAYOUT PRIOR TO THAT TEN TIME ROLLOVER YOU WILL RECEIVE HALF OF THE WIN FIGURE AND YOU WILL FORFEIT THIS ONE TIME OFFER.

WOULD YOU DO THIS TO SALVAGE YOUR BALANCE WITH A BOOK THAT HAS GONE BELLY UP?

THE REASON I ASK IS BECAUSE MANY BOOKS ARE RELUCTANT TO GO TO THE AID OF BOOKS THAT ARE GOING UNDER BECAUSE THE MAJORITY OF THE TIME THE CUSTOMERS WHO HAVE BEEN SLOW PAID OR NO PAID IMMEDIATELY WITHDRAW THEIR REINSTATED BALANCES AND THE BOOK THAT HAS SOUGHT TO SALVAGE THE PLAYERS ACCOUNTS IS LEFT HOLDING THE BAG.

IN A CASE LIKE THIS THE BOOK WHO IS ATTEMPTING TO SALVAGE THE CUSTOMER ACCOUNTS OF A BOOK THAT IS GOING UNDER HAS AN INCENTIVE TO TAKE A SHOT REINSTATING THE CUSTOMERS ACCOUNT BALANCES BECAUSE HE HAS THE OPPORTUNITY TO SHOW THE PLAYER THE LEVEL OF SERVICE HIS SHOP IS CAPABLE OF AS WELL AS HAVING THE OPPORTUNITY TO WIN THE SAME AMOUNT HE IS RISKING IN HIS ATTEMPT TO SALVAGE THE BOOK THAT IS GOING UNDER.

SOME RESPECTED SHOPS WILL BE WATCHING YOUR REPLIES TO THIS QUESTION SO IT IS IN THE PLAYERS INTEREST TO BE LOGICAL AND ARTICULATE IN YOUR REPLY.

REALITY

[sportshobby]

Very interesting subject. I'd go for it without hesitation, if only I could withdraw any winnings above the $10,000. This is the way most bonus programs work.

[ShiftySheik]

I'd take the offer. Sportshobby makes a valid point. The player's balance could get very high and he would want to take a partial payout without losing the bailout money.

[Jeff]

Similar things have been done before.....usually by the book taking over the book that goes belly up.

Players are more likely to send funds to a solid book taking over for a book that goes bust, and agreeing to this deal, than they are sending money to the book that went belly up.

[nolimit]

REALITY YOU POSE A GREAT OPTION AND EVERY CUSTOMER WOULD DO IT IN A HEARTBEAT BECAUSE THE MONEY IS ESSENTIALLY LOST ALREADY, BUT I WOULD LIKE TO GIVE YOU THIS SCENARIO. A REALATIVELY SMALL PLAYER SCRAPS SOME MONEY TOGETHER AND SENDS LETS SAY $1000 TO A BOOK. THIS PLAYER THAN GETS HOT AND HAS ROUGHLY $4000 IN HIS ACCT. WHERE IS THIS TYPE OF PLAYER SUPPOSED TO GET HIS HANDS ON ANOTHER $4000 TO POST UP W/ THE BOOK. HE HAD TO WORK AND SAVE JUST TO SEND THE ORIGINAL DIME, GOT A LITTLE LUCKY AND IT WOULD BE VIRTUALLY IMMPOSSIBLE FOR HIM TO COME UP W/ 4K TO TAKE ADVANTAGE OF YOUR OFFER.

[sportshobby]

I think I missed one important point on the first read-through. Are you saying that the rescuing book would only give players half of the money they have coming (from the old book)if they don't make this deposit?

[Insider]

Yes! I am one of the Caribi guys!

[REALITY]

Originally posted by sportshobby:

I think I missed one important point on the first read-through. Are you saying that the rescuing book would only give players half of the money they have coming (from the old book)if they don't make this deposit?

THEY WOULD GIVE THEM NO MONEY IF THEY DIDN'T MAKE THE MATCHING DEPOSIT.

IF THEY MADE THE MATCHING DEPOSIT AND THEY SOUGHT TO MAKE A WITHDRAWL BEFORE ROLLING OVER THE ENTIRE BALANCE TEN TIMES THEY WOULD ONLY BE PAID HALF OF WHAT THEY WON AND THIS ONE TIME OFFER WOULD BE RESCINDED.

EXAMPLE:

YOUR VERIFIED BALANCE IS 5,000.

YOU SEND IN 5,OOO.

YOUR NEW BALANCE IS 10,000.

YOU WIN 20,000.

IF YOU REQUEST A PAYOUT BEFORE YOU ROLL OVER THE ENTIRE 10,000 TEN TIMES OR PUT A 100,000 INTO PLAY YOUR 5,000 MATCHING DEPOSIT AND HALF OF THE 20,000 WIN OR 10,000 WOULD BE RETURNED TO YOU AND THAT WOULD BE THE END OF THIS ONE TIME OFFER.

YOU WOULD RECEIVE A 15,000 PAYOUT.

REALITY

[REALITY]

Originally posted by nolimit:


REALITY YOU POSE A GREAT OPTION AND EVERY CUSTOMER WOULD DO IT IN A HEARTBEAT BECAUSE THE MONEY IS ESSENTIALLY LOST ALREADY, BUT I WOULD LIKE TO GIVE YOU THIS SCENARIO. A REALATIVELY SMALL PLAYER SCRAPS SOME MONEY TOGETHER AND SENDS LETS SAY $1000 TO A BOOK. THIS PLAYER THAN GETS HOT AND HAS ROUGHLY $4000 IN HIS ACCT. WHERE IS THIS TYPE OF PLAYER SUPPOSED TO GET HIS HANDS ON ANOTHER $4000 TO POST UP W/ THE BOOK. HE HAD TO WORK AND SAVE JUST TO SEND THE ORIGINAL DIME, GOT A LITTLE LUCKY AND IT WOULD BE VIRTUALLY IMMPOSSIBLE FOR HIM TO COME UP W/ 4K TO TAKE ADVANTAGE OF YOUR OFFER.

TO TAKE ADVANTAGE OF THIS OFFER A PLAYER WOULD HAVE TO MATCH ANY OR ALL OF HIS VERIFIED BALANCE AND ROLL THIS TOTAL OVER TEN TIMES.

REALITY

[nolimit]

WHERE IS A GUY WHO HAD TROUBLE POSTING UP A DIME GONNA GET 4K FROM, THE ONLY REASON HE EVEN HAS 4K IN ACCT IS B/C OF WINNING WAGERS. IT DOESNT HAVE TO BE THE #'S I AM TALKING ABOUT. WHAT ABOUT A GUY WHO SENDS $500 NOW HAS $2500 IN HIS ACCT. HOW IN THE WORLD DO THESE LITTLE GUYS COME UP WITH THAT CASH.

[ 06-22-2001: Message edited by: nolimit ]

[Jeff]

I misread the post....I thought he was suggesting the player send the funds to the book that went belly up :o

This is EXACTLY what Rich's Superbook did a few years ago when Dial a Bet went under.

What player wouldn't take the deal? It's his only shot at getting his money.

[ajax50]

Reality,would do what you propose in a second.Basically, the new book is giving a 100% bonus in exchange for lots of action.The fact that book 1 went belly up is really irrelevant as book 2 is saying.."play here,roll over your postup 10x and we will match your initial deposit." Sounds like a lot for the house to give away or a great marketing tool,I'm just not sure of which.But yes,my debt is for sale to a solid book.Does the amount stiffed matter?

[REALITY]

Originally posted by nolimit:

WHERE IS A GUY WHO HAD TROUBLE POSTING UP A DIME GONNA GET 4K FROM, THE ONLY REASON HE EVEN HAS 4K IN ACCT IS B/C OF WINNING WAGERS. IT DOESNT HAVE TO BE THE #'S I AM TALKING ABOUT. WHAT ABOUT A GUY WHO SENDS $500 NOW HAS $2500 IN HIS ACCT. HOW IN THE WORLD DO THESE LITTLE GUYS COME UP WITH THAT CASH.

[ 06-22-2001: Message edited by: nolimit ]

THEY CAN COME UP WITH ANY PART OF THEIR VERIFIED BALANCE TO TAKE ADVANTAGE OF THIS OFFER.

THE MATCHING DEPOSIT AND 10 TIME ROLLOVER IS THE BOOKMAKER'S INCENTIVE TO REPLENISH YOUR ACCOUNT.

HE NOW HAS A CHANCE TO WIN AS MUCH AS HE IS RISKING.

WHAT IS THE UPSIDE FOR A B.M.TO REPLENISH AN ACCOUNT AND EITHER HAVE THE FUNDS IMMEDIATELY WITHDRAWN OR EVEN IF THEY ARE ROLLED OVER 1O TIMES HE HAS NO OPPORTUNITY TO EARN HERE.

THE MATCHING DEPOSIT IS THE CARROT TO DANGLE IN FRONT OF THE B.M.'S FACE TO GET HIM TO THE TABLE IN THIS SITUATION...

REALITY

[ 06-22-2001: Message edited by: REALITY ]

[Yakov Jerkov]

Let me see, a bettor GAMBLES by "trusting" his money with one bookie who it turns out can't pay. For that privilege, he gets to send an equal amount of "lost" money to another "reputable" shop whom he now has to "trust" again, and in return for that "trust" the bettor has to GIVE 10x sports action in order to have even a chance to find out if his or her newfound "trust" was worth the risk?

This is Bait and Switch at its very best.

If someone perpetrated this over the phones in the U.S. - the Feds would be after them.

But in the year 2001, we can call this, "creative offshore financing.

The 10x action has nothing to do with the "new" book having an opportunity to show excellent customer service. It has everything to do with the "old" book having no capital to invest in other than a list of active players, who could generate income if they actually stayed and played - otherwise the "new" book has no vested interest in assuming the player's accounts. The "new" book would have to gamble that some of the players would stay so that it has an opportunity to recover the money for the buyout.

Instead, let's come up with this stupid scheme - so that the player's GAMBLE - AGAIN!!!

Are there really enough bettors who are desperate enough to go for this scheme??

Please don't chase good money after bad.

[REALITY]

Originally posted by ajax50:

Does the amount stiffed matter?

IT IS MY SUGGESTION FOR ANY SHOP CONSIDERING THIS TO MAKE A CAP ACCORDING TO THEIR AVERAGE BET SIZE.

I WOULDN'T SUGGEST DOING THIS FOR ANYMORE THAN 10 DIMES UNDER ANY CIRCUMSTANCES.

THE OBJECT HERE IS TO RESCUE SMALL PLAYERS WHO WERE REALLY HURT IN THIS SITUATION NOT BE AN INSURANCE UNDERWRITER FOR WISEGUY PLAYERS WHO CAN OVERCOME THIS...

REALITY