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Sorry kids, didn't mean to get your hopes up, just something I'd propose.....
Given Royal's plan doesn't address most of Aces customers, here is a plan that would certainly work for more of them. Personally out approximately $3800 at Aces, sending Royal 4x that amount ($15,000) isn't exactly a solution in my eyes. Also, even if they extended the offer to all Aces account holders, I kinda doubt Brett is of the mind to send them $1.8 million on their "rescue plan".
So here's another way that would make sense, the books money, and go a long way towards restoring player confidence in the offshore industry.
The Proposal
1. A book, or coalition of books gains access to Aces database and/or players who can verify their balances at Aces do so.
2. The book offers the players the option of depositing up to 100% of their balance lost at Aces, and receiving a credit in their account for the amount of their deposit plus an equal "bonus" or "Aces credit".
3. The player agrees to roll over the deposit and "bonus" twenty times.
Here's why everyone would be better off.....
The Book
The book is essentially giving a 100% bonus with 20x rollover requirement. As a regular old 11/10 shop, their hold can be estimated at 4.5% for simplicity's sake. If a player lost $5,000 at Aces, he would have to deposit $5,000 at the book offering the deal and then have a balance of $10,000 available to him, which would need to be rolled over 20x.
The book would see $200,000 in action. On average, assuming a hold percentage of 4.5%, the book would hold $9,000 based on the action and the player's account balance would stand at $1,000. The book would have recouped 100% of the bonus and profitted 80% of the player's post up. As long as the hold percentage actually realised by the book exceeds 2.5%, they do not lose on the deal. If it does exceed 2.5% they profit.
The spinoff benefit from this and wildcard is the positive publicy and exposure the book would receive. If someone "rescued" the Aces clients (out of purely self interest on the book's part, trying to make a buck), they would earn the loyalty and respect of the players who had been "rescued".
The Players
This deal has a negative expectation for the players (based on any hold percentage exceeding 2.5%). So what? Every time a player (not a scalper or a middler) lays $11 to win $10, that bet has a theoretical negative expectation, and we still make those plays.
If you pick games and lose, c'est la vie. If someone steals money from you, that is different. Personally, and I know this sounds a little strange, I'd rather play them for it than just have my pocket picked. I believe I have an advantage head to head with the books in certain sports(NHL, CFL etc.), even factoring in the vig. We all do or did, that's why we laid $11 to win $10 the first time we placed a bet. If it doesn't pan out for me over a 20x rollover then that is the way it goes. I'd be appreciative for the shot. I'd rather lose, mano-a-mano 2x my balance at Aces to a book playing straight up, than have 1x my balance stolen from me (as I said it sounds strange but truth is stranger than fiction).
I personally believe most "players" would go for it. I believe also that the books would profit from it.
Issues
Obviously with any plan like this there would be issues:
1. Does a player like Brett want to send another $450K? Its his call.
2. What if you already have a balance at the book that offers this? Can you withdraw the money in your account prior to accepting the offer and then send the matching funds?
3. Scalpers, middlers and whores won't like it, and will point out that the book would make money on the deal. Fine don't go for it then.
Conclusion
I'm at a crossroads right now. I:
(a) enjoy the action and competition.
(b) believe the books can be beaten.
(c) won't deposit another nickle with an offshore book unless there is an acceptable resolution to this situation, as my trust in the industry, not just Aces specifically, has been violated.
Here is a reasonable plan that theoretically would add profit to the book(s)'s bottom line(s) and restore this player's faith in the industry.
Comments?
Given Royal's plan doesn't address most of Aces customers, here is a plan that would certainly work for more of them. Personally out approximately $3800 at Aces, sending Royal 4x that amount ($15,000) isn't exactly a solution in my eyes. Also, even if they extended the offer to all Aces account holders, I kinda doubt Brett is of the mind to send them $1.8 million on their "rescue plan".
So here's another way that would make sense, the books money, and go a long way towards restoring player confidence in the offshore industry.
The Proposal
1. A book, or coalition of books gains access to Aces database and/or players who can verify their balances at Aces do so.
2. The book offers the players the option of depositing up to 100% of their balance lost at Aces, and receiving a credit in their account for the amount of their deposit plus an equal "bonus" or "Aces credit".
3. The player agrees to roll over the deposit and "bonus" twenty times.
Here's why everyone would be better off.....
The Book
The book is essentially giving a 100% bonus with 20x rollover requirement. As a regular old 11/10 shop, their hold can be estimated at 4.5% for simplicity's sake. If a player lost $5,000 at Aces, he would have to deposit $5,000 at the book offering the deal and then have a balance of $10,000 available to him, which would need to be rolled over 20x.
The book would see $200,000 in action. On average, assuming a hold percentage of 4.5%, the book would hold $9,000 based on the action and the player's account balance would stand at $1,000. The book would have recouped 100% of the bonus and profitted 80% of the player's post up. As long as the hold percentage actually realised by the book exceeds 2.5%, they do not lose on the deal. If it does exceed 2.5% they profit.
The spinoff benefit from this and wildcard is the positive publicy and exposure the book would receive. If someone "rescued" the Aces clients (out of purely self interest on the book's part, trying to make a buck), they would earn the loyalty and respect of the players who had been "rescued".
The Players
This deal has a negative expectation for the players (based on any hold percentage exceeding 2.5%). So what? Every time a player (not a scalper or a middler) lays $11 to win $10, that bet has a theoretical negative expectation, and we still make those plays.
If you pick games and lose, c'est la vie. If someone steals money from you, that is different. Personally, and I know this sounds a little strange, I'd rather play them for it than just have my pocket picked. I believe I have an advantage head to head with the books in certain sports(NHL, CFL etc.), even factoring in the vig. We all do or did, that's why we laid $11 to win $10 the first time we placed a bet. If it doesn't pan out for me over a 20x rollover then that is the way it goes. I'd be appreciative for the shot. I'd rather lose, mano-a-mano 2x my balance at Aces to a book playing straight up, than have 1x my balance stolen from me (as I said it sounds strange but truth is stranger than fiction).
I personally believe most "players" would go for it. I believe also that the books would profit from it.
Issues
Obviously with any plan like this there would be issues:
1. Does a player like Brett want to send another $450K? Its his call.
2. What if you already have a balance at the book that offers this? Can you withdraw the money in your account prior to accepting the offer and then send the matching funds?
3. Scalpers, middlers and whores won't like it, and will point out that the book would make money on the deal. Fine don't go for it then.
Conclusion
I'm at a crossroads right now. I:
(a) enjoy the action and competition.
(b) believe the books can be beaten.
(c) won't deposit another nickle with an offshore book unless there is an acceptable resolution to this situation, as my trust in the industry, not just Aces specifically, has been violated.
Here is a reasonable plan that theoretically would add profit to the book(s)'s bottom line(s) and restore this player's faith in the industry.
Comments?
Comment