sportsbook liquidation sales

[neverteaseit]

I have been working nights and have very little time anymore to surf the web and read up on what is going on in this industry but about 6 months i had a strange feeling about books in general. at the time i had 6 outs and had various amounts of money with these books. I have since that time closed out 4 accounts, each having various amounts of money in them and low and behold within the last 2 months, 2 of these books have folded shop and it looks like another is on the way out also. I have since reduced my account balances to nearly half of what was in them, with the main book i use olympic with the most in it still. We as gamblers seem to be not only taking a risk at gambling but where we keep our monies. So now not only to we have to concentrate on gambling itself it seems more and more we have to also worry about if we will get paid. I mean lets say we get lucky and we hit a 15 team parlay and we have a huge payoff will we get our money. This is something we should never have to worry about. I mean hell I would have never done this 6 months ago what I did today. I won $423 last night so I had them western union me $350 of it today plus I paid $25 to do it. Paranoid? you bet. Should I feel this way? HELL NO!!

What has happened to this industry? Bad management? skimming? what the hell gives here?

I wish our so called politicians we elect to office would give the people what they want. Nationwide internet gambling. The time has come for this be legal. It just baffles me as to the state i live in has more riverboats then state parks it seems. And in thier eyes this is fine. Ok we can gamble on a boat but not from our computer, where the hells the difference.

I am beginning to wonder anymore if it is really worthe effort.

Just was curious if anyone else has been getting mixed feeling on the offshore gaming in general.

Even books with high recommendations our iffy and leave some doubt of whether they will be here tomorrow.

I know one thing when olympic closes it doors so do I.

Word of caution take back as much as you can when you can, it may not be there tomorrow.

Just curious to see how most are feeling.

 

[neverteaseit]

and this just baffles me even more

and this just baffles me even more

I just called a book who is in the midst of closing shop or being sold you believe who ever you can but this just astounds me. This book has not been taking bets since yesterday and is not taking payouts either, but oh will they take your money.

Here is basically how the conversation went.


Hello?

yes i am interrested in opening an account with you.

Ok sir that will be no problem, how would you like to do this?

Hold on i have a few questions first?

Ok i can answer them?

why is it that you are taking new accounts but have still refused to payout on existing accounts?

Well sir i can't really answer that, we should know more about this sometime this afternoon when management has its meeting.

so you mean to tell me that I can still open an account? but I may or may not get paid?

CLICK.


WTF? HELLO do I sound stupid?

what kind os shit is this?

this is not the way to practice business or is it?

tread lightly fellas, watch your back because no else can cover it like yourself.

this is a prime example of why you ask first and often before you make any moves.

 

[gecko]

Offshore gambling, and the very nature of gambling in general, is such a divisive issue. I don't forsee it being legalized across the board as long as the U.S. government has nothing to gain from it from a financial standpoint. Furthermore, some individual states have their own interpretation.

In reference to the book you called, I currently have a high-four figure balance in there. It's been very frustrating for me to wait for the past week ever since I made my FIRST payout request, just a simple NETeller withdrawal. I was given the options of bank wire or cashiers' check instead, but those have fallen through. My best hope is that another book will come to its rescue. I have corresponded with the manager several times and he says he will stick it out with us--the customers--and make sure we get paid. Only time will tell if he really means it. Suspending action is the right thing to do, but how can they in good conscience still open new accounts or take deposits, if that is true? I hope not, since they aren't even taking wagers at this point in time.

Finally, it is a fact that in ANY industry there are bound to be closings and consolidations. The ones that will remain with us have capable owners and management that adhere to established internal policies and industry standards, garnered a good-sized and loyal customer base through successful niche marketing, and most importantly it seems, have solid assets and available financing options. The latter because most successful big businesses borrow at some point in time, either to meet obligations or to make purchases.

Since we are not owners/shareholders and these aren't regulated or public companies (the vast majority, that is), we have no way of knowing how "rock solid" these joints really are. Like you said, just use good judgment and choose your outs wisely.

 

[gecko]

got an answer from Rick of All World regarding their status.
posted it in Sportsbooks & Casinos thread. I've also seen this discussed in the Rx.