There's only one solution

[Jeff]

There's only one shot at a bail out with the Aces fiasco.

That would be for not one, but several books to get together and take on portions of the Aces customer list. Make the players deposit xxx, and then make them roll it over a gazillion times before they could touch it.

This would restore some faith in the industry and the books and who knows.

The good news is that it has already been discussed by more than a few books. So the thought is there.

Is it likely to happen?

I hope I'm wrong, but I doubt it.

Why?

This was tried years ago when dial a bet went under. Rich's superbook tried to do just that. Make players deposit funds, roll it over, and possibly recoup some of the losses. Players screamed and yelled because they didn't like the conditions! Here was guy guy trying to bail them out while at the same time help his own business, and people found something wrong with it.

Legal book/fair deal is another example.

CRIS did something similar with Option and people yelled and screamed that there was a conspiracy.

Would it be great if some books stepped up? Sure it would! Hey, I wouldn't mind the chance to recoup my 20% of my bankroll left on deposit with Aces.

Will it happen?

I seriously doubt it.

There's way too many whining cry babies out there that would find some fault or dream up some conspiracy as to why the books were doing it.

It's nice to think it could happen though...

[The Guesser]

Jeff, great points. I don't share your pessamism though. Aces going under has caused a new reality. They are the first "Industry Giant" to fold, IMO. I don't think any stiffed player will squawk about any Book(s) offerring a way to recoup some losses, and a wise player who got stiffed will realize something is better than nothing, no matter how much rollover is required, or whether some pro in Norway is stiffed but 99% of the players do have the ability to be made whole.

[stardust]

I can tell you somebody better do something, or the offshore industry is becoming just what Uncle Sam told you it would be - an place where there is no security for the player.

Let me ask you - what the hell does the phrase:
"Fully licensed by the Central Government of the Netherlands Antilles," mean exactly?

Well if the government doesn't step in and do something, it's like they licensed a snow-ball stand. The phrase will just become a marketing slogan rather than mean anything of value. It don't mean spit. Royal notes on their site that this is "an industry that is currently self-regulated."

As a small player that didn't lose anything, I'd appreciate Royal's offer were I in that category. Does it fit everyone's needs - no it doesn't.

I don't know the details of Rich's superbook, but I do know the details of the Fair Deal solution.

Jeff - you call it an "example." I say it is good for a bad example. They stiffed one guy for what, 80 dimes and paid every other player.


Guesser
If they paid off 80% of the debts on the books, it should have been accross the board - every player should have gotten the 80% of what their account balance was when they folded.

They picked out one guy and screwed him - period. I don't care if he was a pro from Norway or the bag man from skid row - they took the bets, they shoudn't exclude one player from the settlement.

This was just another way for a book to screw a winner; something that is becoming more common than it should be. It isn't possible to screw the losers; they, by definition, have nothing to screw them out of.

So if you happened to be up big, they just tell you to get lost too. Sure that sounds fair to me as long as I get paid.

If that makes me a "whining cry baby," then we have widely divergent opinions as to what constitutes a "stand up" act by a sports book.

As far as I'm concerned, offshore is now "for entertainment only," and if I were large player, I'd go back to the local outs.

If every player in this fiasco isn't made whole, the effect will be felt by every sportsbook on the planet.

I'm sure the US Congress will point to this episode as evidence that US comsumers are getting ripped off and to tell you the truth, I couldn't disagree with them. Can you?

As Always - Good Luck,

Sonny

[ 02-17-2002: Message edited by: stardust ]