this will be one very sticky situation, but why would any book credit funds before recieving? the credit funds are what is bringing books down...makes no sense to take credit cards and 'credit' period ...
I can understang Gameday 'freezing' money until its recieved ...for instance Firepay deposits must clear and then transfer, that is understandable..
it should be an all cash deal no exeptioms, chargebacks are a bigger problem than bonuses...
I can understang Gameday 'freezing' money until its recieved ...for instance Firepay deposits must clear and then transfer, that is understandable..
it should be an all cash deal no exeptioms, chargebacks are a bigger problem than bonuses...
jman i think we may be on the same page. if they freeze newly funded accounts until they receive money from securebuxx then that is fine. with that said, any accounts they "credited" or allowed to wager with funds previously sent by securebuxx, the book must honor those funds. it is not the players fault that the book chose to select securebuxx as a funding option. as a result, the book MUST take the good with the bad.
I'm thinking this is probably gonna end badly for a lot of people. We shall see, but if something happened to cause them to cease online operations I can't imagine they could possibly have all the funds to pay all the books, players and their own employees for that matter.
Still a lot that needs to be discovered about what is exactly going on with them. But I suspect that if the books do not get paid then your monies with these books will be virtually worthless.
I know it sucks for the player but the check bouncing analogy is a good one. Unless Securebuxx makes good then the player will be the one holding the short end of the stick. Virtually no book IMO that is owed a significant amount by Securebuxx could sustain the hit of getting stiffed by them AND making good on customer deposits that came in via Securebuxx.
I heard a rumor that someone is owed 600k by Securebuxx. If that is really the case then if they have to take that hit, paying the players would result in more then a million dollar swing. Even the nicest owners offshore wouldn't/couldn't honor the player deposits if that really is the case with this certain organization.
Unless Securebuxx makes it right then you might as well kiss your money good-bye and find a lawyer. Talking to some people this morning some books are aleady in the process of freezing Securebuxx funded accounts. More will probably be on the way.
MC
Still a lot that needs to be discovered about what is exactly going on with them. But I suspect that if the books do not get paid then your monies with these books will be virtually worthless.
I know it sucks for the player but the check bouncing analogy is a good one. Unless Securebuxx makes good then the player will be the one holding the short end of the stick. Virtually no book IMO that is owed a significant amount by Securebuxx could sustain the hit of getting stiffed by them AND making good on customer deposits that came in via Securebuxx.
I heard a rumor that someone is owed 600k by Securebuxx. If that is really the case then if they have to take that hit, paying the players would result in more then a million dollar swing. Even the nicest owners offshore wouldn't/couldn't honor the player deposits if that really is the case with this certain organization.
Unless Securebuxx makes it right then you might as well kiss your money good-bye and find a lawyer. Talking to some people this morning some books are aleady in the process of freezing Securebuxx funded accounts. More will probably be on the way.
MC
I don't hear people complaining to banks when they take money out of your account after the check bounces. Why should a sportsbook be any different? The book is doing YOU a favor when they allow you to make bets on money that has not arrived to their book. If the money never arrives, how can you tell the book to make good on it?
For those who say the book who accepted the money is not responsible, you would also have to agree that the opposite will hold true. If they paid out 5k to SecureBuxx last week to a player, they would now have to pay the player some other method that same 5k since the player never got the money?
The situation with SecureBuxx is a tricky one for us all - books and players alike. I will post the communication we received on Thursday from SecureBuxx now - which suggests that as books we will receive the funds they owe us within a short timeframe. As soon as that happens, we will of course process alternate withdrawal methods as quickly as we can. Until then, there is not much we can do unfortunately, except keep in close contact and wait for SecureBuxx to clear our funds.
We regret this act, particularly as it occurred with no prior notice, and apologize for inconvenience caused to any players - it is, as I think you can see, beyond our control at this time.
Thanks for your questions,
Alistair
We regret this act, particularly as it occurred with no prior notice, and apologize for inconvenience caused to any players - it is, as I think you can see, beyond our control at this time.
Thanks for your questions,
Alistair
Email received on Thursday August 7th:
"
Dear Valued SecureBuxx Merchants,
The management of SecureBuxx has taken the decision to immediately suspend all transfers to and from merchant sites for North American customers. This decision was made on the advice of our legal counsel because of the nature and jurisdiction of our business. Due to recent events, it is the strong belief of our legal counsel that SecureBuxx is currently operating in an area that places SecureBuxx and its customer’s at risk.
You will be receiving over the next couple of days, a statement of account from SecureBuxx to your registered address via Fed-ex. Simply sign the statement of account and return it in the enclosed envelope. Once returned, a check will be issued to the name on account for the full balance of the account. Permanent reserve amounts will be returned within 30 days of account balances being paid. Rolling reserves will be returned after 90 days instead of the stipulated 180 days.
Again, we regret for discontinuing the service but we consider this to be the most prudent course of action under the current circumstances. "
We expect to receive our statements on Monday therefore, and will act then - on behalf of VIP and Gameday. If anything changes, we will advise the affected players immediately.
Thanks
Alistair
"
Dear Valued SecureBuxx Merchants,
The management of SecureBuxx has taken the decision to immediately suspend all transfers to and from merchant sites for North American customers. This decision was made on the advice of our legal counsel because of the nature and jurisdiction of our business. Due to recent events, it is the strong belief of our legal counsel that SecureBuxx is currently operating in an area that places SecureBuxx and its customer’s at risk.
You will be receiving over the next couple of days, a statement of account from SecureBuxx to your registered address via Fed-ex. Simply sign the statement of account and return it in the enclosed envelope. Once returned, a check will be issued to the name on account for the full balance of the account. Permanent reserve amounts will be returned within 30 days of account balances being paid. Rolling reserves will be returned after 90 days instead of the stipulated 180 days.
Again, we regret for discontinuing the service but we consider this to be the most prudent course of action under the current circumstances. "
We expect to receive our statements on Monday therefore, and will act then - on behalf of VIP and Gameday. If anything changes, we will advise the affected players immediately.
Thanks
Alistair
To add some clarity and reassurance to the matter, all deposits via SecureBuxx made prior to August 1 are fine and cleared. Only deposits made on or after August 1 are subject to review, and receipt of the funds ourselves from SecureBuxx
I hope that clears up any concerns about older transactions for our players.
Thanks,
Alistair
I hope that clears up any concerns about older transactions for our players.
Thanks,
Alistair
Alistair-
Not trying to rock the boat here but, don't you give the players immediate access to deposits made by Securebuxx? If so, why should the players be on the hook if Securebuxx decides not to pay you. Your book decided to do business with Securebuxx and presumably you gave credit to the players for their Securebuxx deposits after August 1. IMHO, Securebuxx is YOUR money transfer agent NOT the players' therefore you are responsible for the transactions that YOUR book did with YOUR vendor.
Not trying to rock the boat here but, don't you give the players immediate access to deposits made by Securebuxx? If so, why should the players be on the hook if Securebuxx decides not to pay you. Your book decided to do business with Securebuxx and presumably you gave credit to the players for their Securebuxx deposits after August 1. IMHO, Securebuxx is YOUR money transfer agent NOT the players' therefore you are responsible for the transactions that YOUR book did with YOUR vendor.
I sure hope Gameday and VIP decide to do the right thing here. I made a deposit with them Securebuxx before Securebuxx announced there were ending transfers. I was given instant access and bet for days before having my account disabled. I then called and was given the 411 by the manager at Gameday. I tryed to explain my side by they were not very flexible. From my point of view (a player) when the book accepted those funds it became their responsibilty.
If a book sends me money Neteller, then they go bust I doubt the book will pay me again Western Union.
This is not a situation where credit was involved on my part, it was all cash transactions.
It is a bad situation with all involved and hopefully will work itself out but what VIP is doing is somewhat unethical in my opinion. They accepted the funds, they shouldn't be able to reverse back whenever they feel like, esepcially when they know the company is no longer transferring money. They sure as hell accepted the money when things were normal then when the shit hit the fan they changed their mind unilaterally, no right IMO.
If a book sends me money Neteller, then they go bust I doubt the book will pay me again Western Union.
This is not a situation where credit was involved on my part, it was all cash transactions.
It is a bad situation with all involved and hopefully will work itself out but what VIP is doing is somewhat unethical in my opinion. They accepted the funds, they shouldn't be able to reverse back whenever they feel like, esepcially when they know the company is no longer transferring money. They sure as hell accepted the money when things were normal then when the shit hit the fan they changed their mind unilaterally, no right IMO.
