FROM THIS DAY FORWARD WHY YOU SHOULD NEVER PLAY AT A NEW OFFSHORE BOOK.....

[dimeplayersonly]

here is my take on the offshore gambling industry...

its a billion dollar a year industry, investors and entreprenuers see this......so they get together and start up xyz book..sure they do there homework as far as market, advertising,
profit margins...ect......but that isnt enough

i have come to the conclusion that they are treating bookmaking like any other businss....

if you open up a clothing store and everthing is fine for a few months, making a little money everthing is roses...........but somewhere down the line, something goes wrong and your business starts to lose money........before you know it your in debt up to your ears......cant pay the bills you owe numerous creditors the banks everybody......so what do you do??

you get out......either by selling the business or using bankruptcy guidelines to solve the debt problem..........

books dont have options like other business's.....if you owe people in this business....IT BECOMES A MORAL, ETHICAL, HONOR, SITUATION......THERE IS NO LAW THAT SAYS YOU HAVE TO PAY YOUR PLAYERS....you cant go to bankruptcy court, the courts dont work out payment plans for the players, like creditors.........

it seems every new start-up book is using the "clothing business analogy"...we lose money oops........we really dont have to pay these people we owe do we???.........

the bookmaking business is LIKE NO OTHER BUSINESS.......BECAUSE ITS BASED ON.....TRUST...or at least its supposed to be.........as a player you trust them, thats why you send your money to them.....phuking total strangers.....right??? as a player you are putting trust in the book that if you win you will be paid............

 

[RPM]

if nobody ever played at new books, there wouldnt be any books to play at.

 

[dimeplayersonly]

RPM.....ok

i guess i wasnt able to get my point ac****.........

imo........"new" books dont feel they have the moral obligation to pay players these days.....

 

[jerseymike111]

DIMEPLAYERSONLY

You got your point ac r o ss to me!
I agree with you 100%

 

[Fishhead]

One must weigh the risk with the reward.

 

[dimeplayersonly]

look at it this way......

do you feel that if your book faced financial hardships that they would put the player first????

 

[WalkofLife]

<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>the bookmaking business is LIKE NO OTHER BUSINESS.......BECAUSE ITS BASED ON.....TRUST...or at least its supposed to be.........as a player you trust them, thats why you send your money to them.....phuking total strangers.....right??? as a player you are putting trust in the book that if you win you will be paid............<HR></BLOCKQUOTE>

I agree 100% with DPO here. Bookmaking is basically a business form based on honorabilty amongst gentlemen. Guys that understand this are REAL bookies.

And that's why DPO is so right, nowadays many "cyber-bookies" want a piece of the pie, but they don't have the teeth to eat it, to say in a way.

Now, as far as PanAm goes; if the guys pay up and strive through this crisis, they'll show their real character. The guys behind PanAm are good guys, good guys that chose the wrong investor. If the average American has no idea of this code of honor in this industry, can we expect a Panamenian politician to fully understand the acquired compromise? I hope for the sake of this industry, these Panamenian guys get to understand the importance of doing the right thing. Whoever told them they were gonna get filthy rich in 6 months?...

 

[hanover00]

Customer funds should be segregated from operating funds. If the book wins a bet, they move the winnings from the customer funds account over to the operating account. If the book loses a bet, they move funds from the operating account over to the customer funds account. All book operating expenses should be paid out of the operating account only. The operating account was originally funded by investor money. If that account runs dry and inveators don't want to sink more money in, then the doors should be closed and customer funds returned to the customers.

If legitimate accounting practices were followed, customers would never lose their segregated monies. Dipping into customer funds and paying operating expenses, including advertising, or paying back investors is a crime.

 

[Moon88]

i'm 120% in agreement with DPO.

 

[dimeplayersonly]

moon88......having forgot about your question.....will answer in the same thread with skyweasal ac**** the street when i get time...

 

[Seymour]

I don't trust any of these books for one second - 99.99%, if not 100%, are scumbags - I have heard more bs - he'd starve before he stiffed someone - they have deep pockets - they are all sumbags looking for a quick buck.

 

[WalkofLife]

Damn, Seymour... how do you really feel?

 

[dimeplayersonly]

SEYMOUR...........its sad to say but your thoughts are pretty accurate with todays books..(alot, not all)

 

[dogball]

Good post DPO
Lets see, DPO, WALk
v
RPM prophecy of
<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR> if nobody ever played at new books, there wouldnt be any books to play at. <HR></BLOCKQUOTE>

 

[Dante]

I am not going to trust new books that is for sure ...its very hard to

 

[SportSavant]

what about betting exchanges like tradesports, betfair? they cant lost money as they only match bets for commission...can anything go wrong with these?

 

[natick48]

All sportsbooks start as new sportsbooks. As players, it's best to let others sign-up and bet. If thebook can make it through one year with no payout problems then it may prudent to play with them.

 

[DarrylParsons]

I've had about $25,000 stolen from me in the last 5 years but I've also taken about $50,000 from various books in bonuses and bad lines (not blatant errors, just slow line adjustments) in the same time. The way I see it it's a cat and mouse game. They don't go into the business with the intention of stealing but their stupidity gets the best of them and they go broke. Then, caught between a rock and a hard place they take the easy way out -- they run and hide. With no authority to punish them it's no wonder. In my own neighborhood I know a lot of people who would steal my stuff (or anyone's stuff) if they could get away with it. I have never met a woman who had an upper limit on the amount of cash she would accept from me (or anyone else). There's a lot of unethical shlt out there, it's not just these bookies. Sad, but true. I wish they brought back the justice system from the medieval days when they chopped off the hand of anyone who stole a chicken.

 

[TheGeneral+]

I do not think all are scumbags. I feel that most books are worth a chance. Just don't send the family inheritance to them.

 

[Fishhead]

As with any investment, weigh the risk for the rewards and act accordingly.