Books paying interest on balances...

postaldoug · Jun 23, 2004

I've heard Canbet used to do this ! Even if they paid 2-3 % annually, it might be one hell of an incentive to keep your money there, as long as you are comfortable with the book !

Sort of a Sportsbook/ Bank combo ?

It might be a clever way for a book to discourage withdrawals, while retaining the funds, which you hopefully eventually lose entirely ( from the book's viewpoint ).

It would theoretically reduce expenses on money transfers, right ?

Think of what we could have , by combining books and banks into one entity:

How about :

Pinnacle Sports + Trust

Bowman's Book and Bank

Grande Gambling + Loan

etc.

Fishhead · Jun 23, 2004

Doug- I used to know a couple books that did this but dont remember.

SportSavant · Jun 23, 2004

I remember.... What is that house that has lay -104? again?

I thought they had this interest program, I remember specifically seeing it...

peteep · Jun 23, 2004

<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Originally posted by SportSavant:
I remember.... What is that house that has lay -104? again?

I thought they had this interest program, I remember specifically seeing it...<HR></BLOCKQUOTE>

www.megasb.com

SportSavant · Jun 23, 2004

yup, that is it...3% interest & lay -104...

How come we dont talk about this shope more?

I cant even get 3% at the bank!!!!!!!

thanks petpeep...

are you the same peep from peeps place?

Phaedrus · Jun 23, 2004

I use MegaSB and have always enjoyed that little extra bit of loss recovery, er interest on my winnings.

Phaedrus

postaldoug · Jun 23, 2004

Let's see "c" rating from SBR, not too bad, not enough to make me leap !

I think it's a decent idea, anyway !

Doug

JJF · Jun 23, 2004

I remember seeing a few promotions from different books a while ago on this sort of thing, but there were always requirements needed for this. Usually a high minimum balance in your account was required and they would have some sort of wagering activity requirement over a certain amount of time, etc.

postaldoug · Jun 23, 2004

"high Balance" is vaque, some activity is reasonable.

JimFiestSux · Jun 23, 2004

Doug I've dealt with over 10 locals in Connecticut in the past 30 years! Ask any FED on here they'll give you a list of locals there!!

Redneckman · Jun 23, 2004

WSEX used to pay interest, but quit a couple years ago.

Phaedrus · Jun 23, 2004

DougJ

I don't know how you can take a rating from SBR, good or bad, seriously. five months ago they waffled on an inexplicable "D" rating for Gamebookers, a solid and well-established out, and said that Euro books were "being updated" ... yet five months later it's still at D+.

Without wishing to offend Buzzsaw (and probably succeeding anyway) SBR's rating standards seem based more around popular buzz than actual fundamentals on books.

Phaedrus

Halifax · Jun 23, 2004

Guardian Guaranty (GGC)

RDC · Jun 23, 2004

Yes >>Guardian gives me 10% annualy! theyve been doing it for years.

D2bets · Jun 23, 2004

I can't find where Guardian advertises this. I've been using them for nearly a year. Do you need to request it to get it? Is it based on your average balance?

Halifax · Jun 23, 2004

<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Originally posted by D2bets:
I can't find where Guardian advertises this. I've been using them for nearly a year. Do you need to request it to get it? Is it based on your average balance?<HR></BLOCKQUOTE>

Platinum Club (if you're on the -105 plan, I don't think you get it):

"With a minimum deposit of $1,000
Receive a 30% Bonus*
*on initial bonus

15% CASH and
15% Bonus Bet

Additional Membership Benefits:

10% ANNUAL interest on your daily balance paid monthly. (Minimum average daily balance of $1,000.)
10% BONUS when you refer a friend. (10% of your friend’s initial deposit)
10% CASH BACK Twice a year for the previous six months, receive a bonus into your betting account equal to 10% of your cash losses. You must have played at least 20 of the 26 weeks during the six month period to qualify. Cash back money is treated as promotional funds and must be bet through five times before it can be withdrawn in cash.
FREE CONTESTS: Weekly NFL , annual bowl contest, and Final Four. Total prize giveaways last year exceeded $100,000
BONUS TERMS:

You must leave your initial deposit plus the bonus money in your account for a minimum of 90 days and play through the initial account balance at least five times."

Platinum Club

MegaSB · Jun 26, 2004

Just to clarify a bit:

at MegaSB.com we do not require any wagering activities at all in order to get interest bonus, as soon as your average balance is higher than $1000 you will get 0.25% monthly
(Interest is credited for daily account balances which are greater than $1000. Average balance is calculated daily.)

--

At our sister book OnsideBet.com (which is designed more towards recreational bettors - more juice and slightly more bonuses)

as soon as your average balance is higher than $100 you will get 0.5% monthly.

lander · Jun 26, 2004

MegaSB sounds very enticing.

Does anyone other that Phaedrus have experience with them?

oilman · Jun 26, 2004

Excellent point about SBR Phaedrus. I'm also guessing MegaSB's rating at SBR has something to do with low affiliate pct. or lack of one altogether.

By the way, I have played at MegaSB and I think their software is one of the worst out there. It gives Gameday a run for it's money.