Canbet adds new options

[KeithRichard]

Haven't been to their site or played there for quite a while. One reason is the lack of deposit and withdrawal options recently.I see they have added a bunch of new options including Firepay, PPATM,and Moneybookers.Also cheaper deposit and withdrawal fees I think.I've always done fairly well here but have heard some negatives about their lines lately.Anyway nice to see new options.Canbet...you can send my shilling fee by any method you choose.

 

[Fishhead]

CANBET has long been one of my favotites.

 

[CoachLT]

Been with Canbet for 3 years. The only complaint that I have is that they will not let you play their limits on college football until late tuesday or wednesday. Fish, do you have any influence on that situation? Thanks, LT

 

[Buzzsaw]

The wheels kind of came off middle of last year when their head guy left. They reported a rather large loss last quarter of $3.5 million.

They have never fully recovered from the move to England which according to them cost $7 million.

They are due to report some new results any day. I think they are back on track.

 

[WildBill]

Lets hope someday they will allow more than $100 on overnight totals! Other than that I don't have many complaints. Football numbers are usually not in lockstep with the Don Best screen which is great, but much of the year their numbers are nothing special, but the -107 is helpful to getting in a few plays. Way I see the change over the last few years is that I used to put a lot of plays through them, they were getting almost as much action as Pinnacle from me and now they are near the bottom in terms of where I end up playing due to the numbers. Still a good book and I wouldn't want to be without them as an option.

 

[HerzvanRentle]

<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Originally posted by Buzzsaw:
I think they are back on track.<HR></BLOCKQUOTE>

LOL, it'll take more than one good quarter (supposing it arrives) to get this company back on track. Their scrap value is about $9.6M USD.

 

[WEEKENDALKI]

<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Originally posted by Buzzsaw:
The wheels kind of came off middle of last year when their head guy left. They reported a rather large loss last quarter of $3.5 million.

They have never fully recovered from the move to England which according to them cost $7 million.
7 mil.? How is the possible?

They are due to report some new results any day. I think they are back on track.<HR></BLOCKQUOTE>

 

[Buzzsaw]

Not everyone was happy with their accounting when it came to the move. I saw it explained in their yearly report. They have a large casino group as the major shareholder and providing funding. Still a good B book.

 

[HerzvanRentle]

<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Originally posted by Buzzsaw:
They have a large casino group as the major shareholder and providing funding. Still a good B book.<HR></BLOCKQUOTE>

Are you in some way hinting that Skycity are guarantors of Canbet's solvency? Show me the proof. Their entire holding in Canbet is currently worth $2.02M USD. You think they wouldn't write that piffling amount down if the worst came to the worst. Actually, Canbet are a buy today. Their shares stand at an all time company low of 1.9 US cents. They are valued by the market (US$8.8M) at less than my scrap valuation of US$9.6M. They may give a tenner signup plus 25% on losses to affliates but they are not a 'B' book IMO on their financials.

[This message was edited by Herz van Rentle on April 26, 2004 at 12:34 AM.]

 

[WildBill]

What is the "scrap" value of a book? I am guessing just the book value of their equipment, but business equipment is generally not worth much these days. I would question a scrap value of any business whose value is all in their customer relationships.

 

[daringly]

Sadly, Canbet has gone downhill (from a player's perspective).

I play mainly NFL and Arena. Their arena totals have limits of $200 (I've not found another book with AFL totals, that is this low). Canbet is also bringing its lines out later (or at the last minute for AFL).

If a serious book is going to offer lines, it needs enough confidence to post its OWN line, and with decent limits. Kudos to Olympic for doing this in Arena.

 

[sven]

Funny that, I bet Canbets AFL lines on Monday of last week, lines are up no later than most!!!

 

[Buzzsaw]

Herz,
Sure they could write it off, anyone can walk away at ant time. I'm just saying I don't think they will.

They still have all of the players money which is more than you can say for probably 60% of the books in the Caribbean or Costa Rica. Their customer service is still pretty good so yea I would say they are a B. They need to prove that last quater's loss was an aberration, obviously they can't go on for long losing a million dollars a month.