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CanbetUSA - More Betting Advice from Down Under
An Interview with Simon Morris, General Manager
CanbetUSA is located in Canberra, Australia, one of the safest and most regulated areas for Internet gaming in the world. They've been around since 1996 and are strictly governed by the Australian government. In short, they follow the same rules as the Nevada Gaming Commission sets forth for the casinos in Las Vegas.
Mr. Simon Morris, General Manager of Canbet Sports Party Ltd., takes great pride in his operation and rightfully so. They offer five star customer service, software developed in-house that is liked by everyone, and a reputation that is only achieved the old fashioned way--by earning it.
BWorld has asked Mr. Morris a few of our interview questions to see what he has to say as the football season gets underway.
BWorld: There have been a lot of developments in the industry since the last football season. What preparations has CanbetUSA made for this football season?
SM: We have recently completed an overhaul of our network and have also upgraded our available bandwidth substantially. These changes were made to cope with the expected surge in Internet traffic, and will ensure that our customers are able to access our website quickly and problem free, especially during peak times.
BWorld: What kind of growth rate and increase in handle are you expecting this year?
CanbetUSA has maintained a consistent rate of growth from day one and we expect this to continue throughout the upcoming football season. Last year we experienced growth in turnover of around 40% and I believe that we are on track to exceed that figure this year.
BWorld: CanbetUSA has been in business since 1996, and is a very popular out with with a stellar reputation. How did you achieve this presence and can we have a hint to the secrets of your success?
SM: I don’t think that there are any secrets or magic formulas to reveal. The main keys in Canbet’s success have been thorough planning, patience and financial stability. Many businesses in this industry fail due to the belief that knowledge of bookmaking is the only requirement to establishing a successful sportsbook – this however is only one component. The nature of this industry has changed dramatically in the last few years and to be successful in this day and age requires expertise not only in bookmaking, but also expertise in many other areas such as marketing, technical and financial operations.
One of the main reasons that Canbet has developed a strong reputation is due to the safeguards that are required by the Government regulators of the Australian Capital Territory. Here at Canbet, all customers’ funds are required by the Government regulators to be held in trust and cannot be used as operating capital – we are required to keep our customers money separate from our own in a segregated trust account. We add winnings and take out losses, but always have the total of our customers’ funds in that segregated account.
I think our customers recognize the high level of security offered when betting with Canbet, and feel safe sending their funds to us, confident that they will be paid promptly.
BWorld: What do you think of the recent crackdowns by the credit card companies on Internet Gaming charges? Do you consider this fair considering that most card companies still accept charges for other questionable Internet services?
SM: Whilst I disagree with the stance recently taken by some US banks in not allowing credit card transactions for gaming, I understand the reasoning and feel this is due to the uncertainty regarding the legality of offshore gambling, which has been created in part by the numerous bills currently before Congress. This has led to the banks adopting these measures to protect them from any liability that may arise.
BWorld: What kind of impact has this had on your operation?
Whilst these new measures initially had a negative impact on our operations, we have placed an emphasis on educating our customers in the other payment methods available to them (NETeller, PrePaidATM, Bank Wires, Western Union etc) in the event they are unable to use a credit card. These alternatives have been well received by our customers and highly successful in filling the credit card void.
BWorld: With PayPal starting to phase out gambling payments, what is Canbet going to focus on to ensure the future of the post-up business? Do you feel NETeller is a solid funding source?
SM: PayPal has recently advised us that sportsbook transactions will no longer be allowed. We are obviously disappointed with this decision as PayPal was a popular method of funding for our customers, particularly for smaller transactions. However, I feel that NETeller, along with PrePaidATM will continue to provide an excellent service to enable transfer of funds electronically. In addition, we are looking at adding additional e-payment services in the near future.
As stated previously, we have been advising our customers of the alternatives available and I am of the belief that even with the difficulties that have recently arisen, whilst there is still a demand for our industries services, there will always be new technologies and methods developed for payment solutions that will enable funds to be transferred quickly and easily.
BWorld: What do you think are going to be major betting trends this upcoming season based on the last couple of seasons’ downturns?
SM: I am unsure of what downturns you may be referring to, here at Canbet the last couple of seasons have been extremely positive!
BWorld: The downturns we are referring to are the catastrophic events of September 11 last year (effectively shutting down most sportsbooks for about a week) and a general consensus amongst some bookmakers that the profit margin hadn't been as great as it was a few years ago. We're glad to hear Canbet has done well!
BWorld: Do you have any new wagering opportunities or contests to attract the football fan?
As far as new betting options, we have been developing a number of software changes primarily for parlays and teasers.
As always, our main attraction for football betting will continue to be our standard reduced vig. Canbet offers odds of –107 on ALL football sides and totals, 24 hours a day, 7 days a week. This will be our third football season offering this and it has proven to be a great incentive for attracting new customers.
BWorld: You set your own lines, in other words you don’t clone from other books or a lines feed. How do you feel about the growing concern that line cloning has been a cause for the financial woes of a few sportsbooks.
SM: I guess it depends on the situation. Opening a line at the market consensus is common sense, however copying every move and blindly adjusting your lines could certainly be dangerous.
BWorld: Laying off is another topical issue. Does CanbetUSA engage in this practice, and do you prefer to be as balanced as possible or do you side with the public? Is this policy the same across the board for all sports?
SM: Laying off is a common tool used by many bookmakers to manage risk. At Canbet we do not use this practice, but prefer to manage our risk through other methods such as line adjustment, establishing maximum bet amounts and numerous software tools available to our bookmakers.
BWorld: What do you think about baseball’s recent announcement about possible bankrupties, teams not being able to finish the season, narrowly averted player strikes, etc. Has the press about overblown salaries, steroid use, etc. hurt the game (from a betting standpoint and from a fan’s standpoint)? Would you still consider baseball America’s pastime?
SM: Being from Australia, I am probably not the most qualified person to judge whether baseball is still America’s pastime! However, from observing media coverage, I think that the game currently has a very negative public image due to the events you have described.
From Canbet's point of view, the most worrying issue is any pending strike. If one does indeed go ahead and leads to the cancellation of the season, this would have a negative impact on our operations due to the subsequent decreases in betting turnover and revenue.
BWorld: For a new player just signing up with you, what you recommend to help them become familiar with the site and wagering on the Internet in general? What should they look for when playing football (point spreads vs. moneylines, parlays and teasers, etc.).
SM: New customers should take the time to look through our site, particularly the ‘betting info’, ‘betting rules’ and ‘how to bet’ pages. These pages contain a lot of useful information such as how to use our software, the type of bets available, betting limits and our betting rules.
New customers, particularly football and basketball bettors, will find great value by being able to lay –107 on all sides and totals, rather than the standard –110. These savings offer a great benefit over the course of a season.
BWorld: Do you see Americans becoming more interested in soccer and other sports not customarily well-known in America or vice versa (persons from other countries becoming more interested in American sports)?
SM: I guess this depends on the level of media coverage – generally higher media coverage (particularly television) translates into greater betting interest. The four major US sports currently enjoy a massive global audience that generates interest in other countries. However, until sports such as soccer receive comparable coverage in the US, I cannot see a great surge in interest in them.
BWorld: What has Canbet done in the way of developing a strategic plan to remain at the forefront of the Internet gambling industry?
SM: Canbet has devoted a great deal of time and resources in developing a viable business plan – excellent customer service, highly advanced software and hardware, effective marketing and financial stability are the key components to ensuring our long term success.
CanbetUSA - More Betting Advice from Down Under
An Interview with Simon Morris, General Manager
CanbetUSA is located in Canberra, Australia, one of the safest and most regulated areas for Internet gaming in the world. They've been around since 1996 and are strictly governed by the Australian government. In short, they follow the same rules as the Nevada Gaming Commission sets forth for the casinos in Las Vegas.
Mr. Simon Morris, General Manager of Canbet Sports Party Ltd., takes great pride in his operation and rightfully so. They offer five star customer service, software developed in-house that is liked by everyone, and a reputation that is only achieved the old fashioned way--by earning it.
BWorld has asked Mr. Morris a few of our interview questions to see what he has to say as the football season gets underway.
BWorld: There have been a lot of developments in the industry since the last football season. What preparations has CanbetUSA made for this football season?
SM: We have recently completed an overhaul of our network and have also upgraded our available bandwidth substantially. These changes were made to cope with the expected surge in Internet traffic, and will ensure that our customers are able to access our website quickly and problem free, especially during peak times.
BWorld: What kind of growth rate and increase in handle are you expecting this year?
CanbetUSA has maintained a consistent rate of growth from day one and we expect this to continue throughout the upcoming football season. Last year we experienced growth in turnover of around 40% and I believe that we are on track to exceed that figure this year.
BWorld: CanbetUSA has been in business since 1996, and is a very popular out with with a stellar reputation. How did you achieve this presence and can we have a hint to the secrets of your success?
SM: I don’t think that there are any secrets or magic formulas to reveal. The main keys in Canbet’s success have been thorough planning, patience and financial stability. Many businesses in this industry fail due to the belief that knowledge of bookmaking is the only requirement to establishing a successful sportsbook – this however is only one component. The nature of this industry has changed dramatically in the last few years and to be successful in this day and age requires expertise not only in bookmaking, but also expertise in many other areas such as marketing, technical and financial operations.
One of the main reasons that Canbet has developed a strong reputation is due to the safeguards that are required by the Government regulators of the Australian Capital Territory. Here at Canbet, all customers’ funds are required by the Government regulators to be held in trust and cannot be used as operating capital – we are required to keep our customers money separate from our own in a segregated trust account. We add winnings and take out losses, but always have the total of our customers’ funds in that segregated account.
I think our customers recognize the high level of security offered when betting with Canbet, and feel safe sending their funds to us, confident that they will be paid promptly.
BWorld: What do you think of the recent crackdowns by the credit card companies on Internet Gaming charges? Do you consider this fair considering that most card companies still accept charges for other questionable Internet services?
SM: Whilst I disagree with the stance recently taken by some US banks in not allowing credit card transactions for gaming, I understand the reasoning and feel this is due to the uncertainty regarding the legality of offshore gambling, which has been created in part by the numerous bills currently before Congress. This has led to the banks adopting these measures to protect them from any liability that may arise.
BWorld: What kind of impact has this had on your operation?
Whilst these new measures initially had a negative impact on our operations, we have placed an emphasis on educating our customers in the other payment methods available to them (NETeller, PrePaidATM, Bank Wires, Western Union etc) in the event they are unable to use a credit card. These alternatives have been well received by our customers and highly successful in filling the credit card void.
BWorld: With PayPal starting to phase out gambling payments, what is Canbet going to focus on to ensure the future of the post-up business? Do you feel NETeller is a solid funding source?
SM: PayPal has recently advised us that sportsbook transactions will no longer be allowed. We are obviously disappointed with this decision as PayPal was a popular method of funding for our customers, particularly for smaller transactions. However, I feel that NETeller, along with PrePaidATM will continue to provide an excellent service to enable transfer of funds electronically. In addition, we are looking at adding additional e-payment services in the near future.
As stated previously, we have been advising our customers of the alternatives available and I am of the belief that even with the difficulties that have recently arisen, whilst there is still a demand for our industries services, there will always be new technologies and methods developed for payment solutions that will enable funds to be transferred quickly and easily.
BWorld: What do you think are going to be major betting trends this upcoming season based on the last couple of seasons’ downturns?
SM: I am unsure of what downturns you may be referring to, here at Canbet the last couple of seasons have been extremely positive!
BWorld: The downturns we are referring to are the catastrophic events of September 11 last year (effectively shutting down most sportsbooks for about a week) and a general consensus amongst some bookmakers that the profit margin hadn't been as great as it was a few years ago. We're glad to hear Canbet has done well!
BWorld: Do you have any new wagering opportunities or contests to attract the football fan?
As far as new betting options, we have been developing a number of software changes primarily for parlays and teasers.
As always, our main attraction for football betting will continue to be our standard reduced vig. Canbet offers odds of –107 on ALL football sides and totals, 24 hours a day, 7 days a week. This will be our third football season offering this and it has proven to be a great incentive for attracting new customers.
BWorld: You set your own lines, in other words you don’t clone from other books or a lines feed. How do you feel about the growing concern that line cloning has been a cause for the financial woes of a few sportsbooks.
SM: I guess it depends on the situation. Opening a line at the market consensus is common sense, however copying every move and blindly adjusting your lines could certainly be dangerous.
BWorld: Laying off is another topical issue. Does CanbetUSA engage in this practice, and do you prefer to be as balanced as possible or do you side with the public? Is this policy the same across the board for all sports?
SM: Laying off is a common tool used by many bookmakers to manage risk. At Canbet we do not use this practice, but prefer to manage our risk through other methods such as line adjustment, establishing maximum bet amounts and numerous software tools available to our bookmakers.
BWorld: What do you think about baseball’s recent announcement about possible bankrupties, teams not being able to finish the season, narrowly averted player strikes, etc. Has the press about overblown salaries, steroid use, etc. hurt the game (from a betting standpoint and from a fan’s standpoint)? Would you still consider baseball America’s pastime?
SM: Being from Australia, I am probably not the most qualified person to judge whether baseball is still America’s pastime! However, from observing media coverage, I think that the game currently has a very negative public image due to the events you have described.
From Canbet's point of view, the most worrying issue is any pending strike. If one does indeed go ahead and leads to the cancellation of the season, this would have a negative impact on our operations due to the subsequent decreases in betting turnover and revenue.
BWorld: For a new player just signing up with you, what you recommend to help them become familiar with the site and wagering on the Internet in general? What should they look for when playing football (point spreads vs. moneylines, parlays and teasers, etc.).
SM: New customers should take the time to look through our site, particularly the ‘betting info’, ‘betting rules’ and ‘how to bet’ pages. These pages contain a lot of useful information such as how to use our software, the type of bets available, betting limits and our betting rules.
New customers, particularly football and basketball bettors, will find great value by being able to lay –107 on all sides and totals, rather than the standard –110. These savings offer a great benefit over the course of a season.
BWorld: Do you see Americans becoming more interested in soccer and other sports not customarily well-known in America or vice versa (persons from other countries becoming more interested in American sports)?
SM: I guess this depends on the level of media coverage – generally higher media coverage (particularly television) translates into greater betting interest. The four major US sports currently enjoy a massive global audience that generates interest in other countries. However, until sports such as soccer receive comparable coverage in the US, I cannot see a great surge in interest in them.
BWorld: What has Canbet done in the way of developing a strategic plan to remain at the forefront of the Internet gambling industry?
SM: Canbet has devoted a great deal of time and resources in developing a viable business plan – excellent customer service, highly advanced software and hardware, effective marketing and financial stability are the key components to ensuring our long term success.
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