Apex sportsbook

Mr.Smith · Jun 29, 2004

wow, read the blurb on Apex at sportsbookreview from June 23. I have never read anything like that in my life. If I had a decent balance their I would buy a plane ticket down to Costa Rica and pay that fukk a visit.

I did play there once last year, I sent a dime and got 40% matchplay bonus, but I lost my whole balance. I never re-upped, thank God, because their was no reason to. They had the same lines as anyone and no props or interesting bet options. Why bother with some book that is new if they don't offer any reason to put money at risk? Stick with pinnacle and get reduced juice. I'm not surprisised they went under, but what a scumbag that guy Robbie is.

Can somebody cut and paste that blurb from SBR in this thread? Its unreal.

Fishhead · Jun 29, 2004

WOW!!

Your right, disgusting if true.

APEX Sportsbook (SBR rating F-) closing its doors. Robbie, the owner, is moving “square" players to PlatinumSB.com where he has a commission loss sheet. He is also applying a rollover to their funds. Robbie also states that he has access to player funds but is using it for other sportsbook marketing endeavors. Larger players will likely not see their funds past any bailout possibilities. Robbie calls this "a career choice" and admits he would not be doing this if players could physically reach him.

TOW · Jun 29, 2004

Fish,

My guess is that Mr. Smith is referring to this interview :

<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Robbie:
"some of the players are going there which I will earn off of." [platinumSB]

BD:What happened to the 60k you claimed was reserved to continue to run your operation?

Robbie:
"Part of that will be used to market, I do a lot of marketing for other sportsbooks of which I earn a sheet on"

BD:Why not just pay the people you owe.

Robbie:
"I will have nothing to make money"

BD:I think a better answer is to say you are broke. You can't negotiate the fact that you are stealing funds.

Robbie
"4 out of 5 businsses fail..."

BD: Investors put their money at risk. These are consumers.
Robbie: I guess your right

Robbie:
"My abiltities will be better used elsewhere."
"I had to make a decision as to what I want to do. Do I want to be a sportsbook or do I want to do what I am best at which is marketing.

BD:This isn't a career choice!

Robbie:"This is a career choice for me"

BD:Then you shouldn't have booked bets you couldn't pay on. Thats when you started stealing funds.

Rob:"That is correct"

BD:You would never make these decisions if you had to tell them face to face. Its because you have their money in a different country.

Rob:"That is correct. You are probably right about that."

<HR></BLOCKQUOTE>

Fishhead · Jun 29, 2004

Thats some crazy *hit right there!

newbie666 · Jun 29, 2004

i think it's time to open a mobster collection agency

AK · Jun 29, 2004

Mr. Smith,

What made you go there in the first place? Who sent you there? Just curious.

Robbie had the nerve to blame Dino and Stretch for his debt. "They owe me 150k" tear tear tear

Dino offered a "sitdown" with him but APEX declined.

Mr.Smith · Jun 29, 2004

I think I got an e-mail offering me a 40% match play bonus. I met someone at the RX bash last year who was playing there and said it was OK. so I gave it a shot.

there was no reason to re-up after I went broke. They did use to e-mail me offers a lot for a 20% re-up bonus, but I could not see any reason to take a chance with them when I could get better football lines at pinnacle.

SportSavant · Jun 29, 2004

what country is robbie in? is there no police or laws there...how can he gat away with this?

I guess I am very naive

BRIAR · Jun 29, 2004

Robbie and Paul Apexsportsbook they live in
Sanjose Costa Rica why the government don't take the license form them let they open Platinumsb.com
any help please !!!!!!

AK · Jun 29, 2004

Briar, I believe SGA is bailing out offers as well.

AK

Buzzsaw · Jun 29, 2004

<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR> 6.29.2004 (5:08 PM CST)
SBR Bill Dozer reports: PlatinumSB (SBR rating D-) employs former owners of now defunct Apex Sportsbook to run internet marketing department. PlatinumSB.com is planning to open to all post up players in mid July dealing -105 lines. They vow to pay all players who were granted an Apex bailout but only after 30 day hold and 3x roll over. SBR expresses concern over post up inexperience and the employment of Apex stiffs. <HR></BLOCKQUOTE>

I just saw this. I would stay as far away from PlatinumSB as humanly possible.

Mr.Smith · Jun 29, 2004

D- seems really generous, although I guess for the time being they have money for payouts from the stiff job at Apex.

I would not play there if every line was +110

Buzzsaw · Jun 29, 2004

I agree Mr Smith. These guys look like they are working together to fleece everyone. Bill, who the hell are these guys at PlatinumSB? Does anyone know them? I'd be willing to lay even money if we(you) dig hard enough we(you) can tie them to past dubious activety.

SBRBillDozer · Jun 29, 2004

Buzzsaw,

The best case scenario is not good. The best case being that everything I was told was factual.

The owner of PlatinumSB, Frank ("Lefty") says he has a large credit business and is from Toronto. He moved into the Apex building to try his hand at post up. Robbie and Paul came to him "broke with no jobs" and are now doing internet marketing only. They are "not to speak with any players and if their names hurt the business they will be gone".

Speaking with Frank at length, I do believe that this is not a complete remake of Apex. I also believe Frank has very little knowledge of the post up biz if any. The lack of knowledge extends to how reputation can negatively affect an online book. He allowed his Apex web guys to visually morph the book to look and function like Apex and switch to ASI software. He didn't realize that the players Robbie sent to him would be a volatile group that wants out.

When he goes live, he plans on dealing -105 with standard limits being anywhere from 2 to 5 dimes. Everything will be at reduced juice. I told him that the odds of making money doing that are slim to none. His answer was; "Pinnacle does it".

(Mr. Smith, Pointing this out in the wire was not intended to be taken as a positive.)

As far as dubious activity...
If I could get some real names or a domain reg'ed by a person we might be able to see a prior record. We do know that, at the very least, they are employing stiffs. That is enough to keep them from building any kind of decent reputation even if Pinnacle linesmen were working their board.

Why the D-?
Frank adamantly states that he will be paying all players when they have met the 3x roll over and the 30 days is up. He is not taking any post up players before this. To my knowledge there is no way to post up with this book yet and therefore no immediate risk to new depositors.

I did not want to fail a site that possibly is picking up any kind of tab while promising to pay out. Maybe we will have to reassess what these ties to Apex should mean to players. We could consider it a merger at the least and rate them a F- I suppose. A lower rating was considered but I voted against it. If everything I am told is true I would hate to see the ties cut to the point where 18k is added back to Apex’s debt.

As far as Apex, Paul tells me they now owe well over $200k in player debt. Paul mentions payment plans but was oblivious to previous failed plans that Robbie set up. I don't see any potential to pay this debt if this number is in fact accurate.

AK · Jun 29, 2004

I have several friends that are owed apx 25k.. I don't see this working either Bill.

Mr.Smith · Jun 29, 2004

some players getting paid out is better than none. but no one should send this book any post up money. they are going to fail. its just a matter of when.

Halifax · Jun 29, 2004

$200K. Quite a bit for a small book with petite limits. I think the $200K is cookie dust at this point.

Good info, Dozer.

LarryWiley · Jun 29, 2004

PlatinumSB sounds like another NAB with -105 and will end like NAB.

SBRBillDozer · Jun 29, 2004

I should add that as of right now they are dealing 20 cent lines.

lurkerforages · Jun 29, 2004

When he goes live, he plans on dealing -105 with standard limits being anywhere from 2 to 5 dimes. Everything will be at reduced juice. I told him that the odds of making money doing that are slim to none. His answer was; "Pinnacle does it".

I needed a good laugh tonight