Just received the following email
IMPORTANT NOTICE TO ALL CAMELOT CUSTOMERS
As many of you know, Camelot Sportsbook has been experiencing severe financial problems in recent weeks. Unfortunately, we are now in a position where Camelot Sportsbook is completely insolvent and will have to close its doors by Friday March 8th. But we can inform you of a possible solution later in this correspondence.
As the Manager of Camelot, I would like to express my sincere sorrow at having to report this news to you, but we find ourselves in this position for several key reasons. First and foremost, we entered into this business undercapitalized and too reliant on a single investor who later pulled out of the deal when news hit the industry of the collapse of Aces Gold.
In addition to being somewhat undercapitalized, we were also too generous with our bonus promotions and reduced juice plans. We spent too much money on advertising, and overall, we made a huge number of mistakes, not the least of which was our inability to properly manage the LARGE volume of betting syndicate and other wiseguy play. Despite the other mistakes made here, Camelot would still be viable if it were not for a group of about 50 players who came from various betting syndicates. These 50 or so players beat Camelot for well over $1 million (USD).
So in summary, Camelot will be closing and all players would be losing their remaining balances. However, those players who are interested do have an option of recovering all or part of their Camelot balance thanks to the intervention of the Number One Sportsbook in the business.
Thanks to an extremely generous offer from Olympic Sportsbook, all Camelot customers will have the following option:
1. You can have an account at Olympic in an amount equal to your current balance at Camelot, provided your account balance at Camelot is less than $2,000 (USD).
2. If you have a balance greater than $2,000 (USD), Olympic will honor your Camelot balance up to the first $2,000 only.
3. If you accept this offer, you agree to roll over your entire balance at least 10 times before taking any payouts.
4. You can sign up for this offer at www.thegreek.com/camelot.asp immediately.
5. Please refrain from calling Olympic Sportsbook about this offer until AFTER 5 P.M. Eastern Time Thursday January 7, 2002. After that, a Customer Service Rep will be able to help you by phone as well, but any calls prior to that could jeopardize your ability to secure your balance, so please wait until AFTER 5 P.M. Eastern Time.
Olympic has received all of our account balances and can verify them, so please be honest when you contact them as they do have the correct information. This provides 80% of our customer base with their entire balance. This incredible offer from Olympic provides a new start at 100% of your balance for nearly all of our customers, and you will not be dealing with a second rate sportsbook. Olympic is the most trusted and most respected name in the business, run by a man whose name has become a symbol for what is right with the offshore industry. At these times where so many sportsbooks are experiencing financial problems, a player could not ask for a better situation than to have their account transferred over to Olympic. We also ask that all players keep in mind the great service that Olympic has provided to the industry and we strongly urge that players maintain their account at Olympic over the long haul.
Olympic can be contacted at 1-888-327-8238 and their website address is www.thegreek.com
Thank you for your time and best of luck with your account at Olympic Sportsbook.
Mark Del, Manager
Camelot Sportsbook
IMPORTANT NOTICE TO ALL CAMELOT CUSTOMERS
As many of you know, Camelot Sportsbook has been experiencing severe financial problems in recent weeks. Unfortunately, we are now in a position where Camelot Sportsbook is completely insolvent and will have to close its doors by Friday March 8th. But we can inform you of a possible solution later in this correspondence.
As the Manager of Camelot, I would like to express my sincere sorrow at having to report this news to you, but we find ourselves in this position for several key reasons. First and foremost, we entered into this business undercapitalized and too reliant on a single investor who later pulled out of the deal when news hit the industry of the collapse of Aces Gold.
In addition to being somewhat undercapitalized, we were also too generous with our bonus promotions and reduced juice plans. We spent too much money on advertising, and overall, we made a huge number of mistakes, not the least of which was our inability to properly manage the LARGE volume of betting syndicate and other wiseguy play. Despite the other mistakes made here, Camelot would still be viable if it were not for a group of about 50 players who came from various betting syndicates. These 50 or so players beat Camelot for well over $1 million (USD).
So in summary, Camelot will be closing and all players would be losing their remaining balances. However, those players who are interested do have an option of recovering all or part of their Camelot balance thanks to the intervention of the Number One Sportsbook in the business.
Thanks to an extremely generous offer from Olympic Sportsbook, all Camelot customers will have the following option:
1. You can have an account at Olympic in an amount equal to your current balance at Camelot, provided your account balance at Camelot is less than $2,000 (USD).
2. If you have a balance greater than $2,000 (USD), Olympic will honor your Camelot balance up to the first $2,000 only.
3. If you accept this offer, you agree to roll over your entire balance at least 10 times before taking any payouts.
4. You can sign up for this offer at www.thegreek.com/camelot.asp immediately.
5. Please refrain from calling Olympic Sportsbook about this offer until AFTER 5 P.M. Eastern Time Thursday January 7, 2002. After that, a Customer Service Rep will be able to help you by phone as well, but any calls prior to that could jeopardize your ability to secure your balance, so please wait until AFTER 5 P.M. Eastern Time.
Olympic has received all of our account balances and can verify them, so please be honest when you contact them as they do have the correct information. This provides 80% of our customer base with their entire balance. This incredible offer from Olympic provides a new start at 100% of your balance for nearly all of our customers, and you will not be dealing with a second rate sportsbook. Olympic is the most trusted and most respected name in the business, run by a man whose name has become a symbol for what is right with the offshore industry. At these times where so many sportsbooks are experiencing financial problems, a player could not ask for a better situation than to have their account transferred over to Olympic. We also ask that all players keep in mind the great service that Olympic has provided to the industry and we strongly urge that players maintain their account at Olympic over the long haul.
Olympic can be contacted at 1-888-327-8238 and their website address is www.thegreek.com
Thank you for your time and best of luck with your account at Olympic Sportsbook.
Mark Del, Manager
Camelot Sportsbook
