A Bail Out for BetEd Customers is in the Works.. and So far BetEd has Refused the Offer ??

[buddyboy]

I would think the only reason Covers would hold up any bailout offer would be to insure that any deal they had going with beted would remain intact.

an example would be if covers was getting a % of the losses of any player they referred, Covers would want to still get that % from the bailout book.

This is just a theory.

So the bailout book would have to pay:

• upfront money to beted
• % of losses to Covers
• balances to players after rollover

just a theory...

 

[Betallsports]

I would think the only reason Covers would hold up any bailout offer would be to insure that any deal they had going with beted would remain intact.

an example would be if covers was getting a % of the losses of any player they referred, Covers would want to still get that % from the bailout book.

This is just a theory.

So the bailout book would have to pay:

• upfront money to beted
• % of losses to Covers
• balances to players after rollover

just a theory...

IMHO your Theory is Good. It has been said and posted at other sites.

I could tell you that the first two that you have listed is Not in Betonline's Offer.

let's just hope that BetEd will rethink their Options and take a bailout from Betonline or Any other Book that is Looking out for the Players.

 

[douglas]

Although I don't have a dog in this fight ......Wanted to commend you on your efforts on this.
Your one of the reasons people / I continue to log on to the RX ..........

D.

 

[Betallsports]

Although I don't have a dog in this fight ......Wanted to commend you on your efforts on this.
Your one of the reasons people / I continue to log on to the RX ..........

D.

Thanks Douglas for the Kind words (<)<

I just want to try my best to report in with any news I hear or find out for the Players.

I know sometimes you can't make everyone happy and people feel like some of us Mods are the bad guys.
But in reality, we can Only Try our best. Nobody is Perfect.

 

[Boston1]

Does the RX bail out members of this forum if all else fails? Seems there was a program here in the past that helped members. If so how does that work? After all they did sponsor that Sportsbook in their advertising?

 

[Betallsports]

Does the RX bail out members of this forum if all else fails? Seems there was a program here in the past that helped members. If so how does that work? After all they did sponsor that Sportsbook in their advertising?

There has been in the past with betonsports, where i Believe that some did get bailout in some why by the RX ( before My time )
but I know of No Bailout from the RX for any Current Sponsors.

What we Are here to do for posters that use the above Sponsors, is to Help with any Deputes or Problems that come up.

This happens to be the case, so I have been in talks about a possible bailout from Betonline. Reporting what I hear or Know as Facts about Betonline looking to bailout the BetEd Players.

I can Only do so much, and because I have a Very close relationship with Betonline I will post any News that comes up.

I will remind everyone again that Betonline was the first ( maybe the only ) Book that came out with a Bailout Plan. ( now more than 3 Weeks ago )
it Really was/is a "no brainer" for BetEd to accept this offer.

Only Time will tell (<)<

 

[Boston1]

You have done an admirable job in trying to help and the members here should be appreciative of that. Have you or anyone you know ever considered starting an insurance whereby players are payed if a Book does close down? Seems like there could be a lot of interest in such an idea and perhaps the rates paid would depend on the Books rating say $20 per thousand for a reputable book to a much higher rate say $40 per thousand for a Bet Royal type of book who has been around forever but are more risky now. It would take a lot of number tweaking to implemnt this notion but Players would have the comfort of sleeping at night if someone left town the next morning. In the meantime I am confident something will be worked out in the near future with your diligent work on this issue. Players go into this game with no guarantees and need to be reminded of that now and then.

 

[Betallsports]

You have done an admirable job in trying to help and the members here should be appreciative of that. Have you or anyone you know ever considered starting an insurance whereby players are payed if a Book does close down? Seems like there could be a lot of interest in such an idea and perhaps the rates paid would depend on the Books rating say $20 per thousand for a reputable book to a much higher rate say $40 per thousand for a Bet Royal type of book who has been around forever but are more risky now. It would take a lot of number tweaking to implemnt this notion but Players would have the comfort of sleeping at night if someone left town the next morning. In the meantime I am confident something will be worked out in the near future with your diligent work on this issue. Players go into this game with no guarantees and need to be reminded of that now and then.

I think your Idea is Great.
very Interesting...................would need someone with good Solid Backing. Might have to look into this

Also agree something should be worked out. Even if it's not betonline, I would think it's a Win Win for any Book.
Just hope that BetEd will play Fair with that database.

at this point, All they need to do is Pick up the Phone and call Betonline
Help out their Players get their money Back. :toast:

 

[Santo]

Such a scheme is risky in the current climate, one raid/clampdown and a few books of varying levels could go..