WHERE HAVE ALL THE FLOWERS GONE?
OFFSHORE REPORT 2004
written May 24 by THE SHRINK
As we approach the summer months, one has to wonder what lies ahead for the offshore sports betting industry.
When I look back and reflect on what has happened to many books that have floundered, it never ceases to amaze me that gamblers don't learn from their mistakes.
Ironically, the same blunder that has caused the majority of sports books to fail is EXACTLY what causes impaired judgment on behalf of the players.
The reason that virtually ALL offshore sports books go belly up is GREED. It is not that they set out intentionally to screw you, but rather, they take more risks than they should. The biggest one that has caused them to spiral downward is giving away unrealistic bonuses and perks to attract new business.
This can be said of ACES GOLD, THE DUNES, CAMELOT, and PAN AM just to name a few.
Paradoxically, gamblers who get "stiffed" often complain about signing up with "XYZ" sports book because they were promised a 30% bonus, a free golf bag, four "calling birds," three "French hens," and a trip to the Super Bowl...
Well, maybe the perks aren't always as outrgageous as the ones I just listed, but surely, you get the point! It is GREED on behalf of the gambler that often gets them in trouble and I am not only taking about choosing sports books.
It is GREED that causes some gamblers to go "double or nothing" when they don't have the funds to cover the loss. It is GREED that causes some gamblers to put their needs ahead of family and friends. Unfortunately, the last example often gets overlooked because we pay so little attention to FAMILY VALUES as a whole when we gamble. I suspect it is not "macho" to share with others about your loved ones when gambling. In my opinion, the greater man is the "Momma's boy!"
Years ago, Sting had it so right when he wrote one of the best articles I have ever read about this industry called, "SNOOZE, BOOZE, & YOU LOSE!"
The divorce rate, drug use, alcohol abuse, insurance fraud, and suicides are far more prevalent amongst gamblers compared with other vocations.
When I travel to Costa Rica, Antigua, Curacao, and other offshore gambling Mecca's, I witness many self destructive tendencies on behalf of bookmakers that would send shivers down your spine. It is not surprising that many of them are out of business now.
Since 1995, I have personally been following this industry. Nine years later, the same problems that plagued it then, continue to do so now.
AVARICE is killing many of us on an indivual basis, and as a whole. Four decades ago, Pete Seeger introduced to us a song, of which some of the lyrics come to mind now:
Where have all the flowers gone?
Long time passing
Where have all the flowers gone?
Long time ago
Where have all the flowers gone?
Girls have picked them every one
When will they ever learn?
When will they ever learn?
THE SHRINK
OFFSHORE REPORT 2004
written May 24 by THE SHRINK
As we approach the summer months, one has to wonder what lies ahead for the offshore sports betting industry.
When I look back and reflect on what has happened to many books that have floundered, it never ceases to amaze me that gamblers don't learn from their mistakes.
Ironically, the same blunder that has caused the majority of sports books to fail is EXACTLY what causes impaired judgment on behalf of the players.
The reason that virtually ALL offshore sports books go belly up is GREED. It is not that they set out intentionally to screw you, but rather, they take more risks than they should. The biggest one that has caused them to spiral downward is giving away unrealistic bonuses and perks to attract new business.
This can be said of ACES GOLD, THE DUNES, CAMELOT, and PAN AM just to name a few.
Paradoxically, gamblers who get "stiffed" often complain about signing up with "XYZ" sports book because they were promised a 30% bonus, a free golf bag, four "calling birds," three "French hens," and a trip to the Super Bowl...
Well, maybe the perks aren't always as outrgageous as the ones I just listed, but surely, you get the point! It is GREED on behalf of the gambler that often gets them in trouble and I am not only taking about choosing sports books.
It is GREED that causes some gamblers to go "double or nothing" when they don't have the funds to cover the loss. It is GREED that causes some gamblers to put their needs ahead of family and friends. Unfortunately, the last example often gets overlooked because we pay so little attention to FAMILY VALUES as a whole when we gamble. I suspect it is not "macho" to share with others about your loved ones when gambling. In my opinion, the greater man is the "Momma's boy!"
Years ago, Sting had it so right when he wrote one of the best articles I have ever read about this industry called, "SNOOZE, BOOZE, & YOU LOSE!"
The divorce rate, drug use, alcohol abuse, insurance fraud, and suicides are far more prevalent amongst gamblers compared with other vocations.
When I travel to Costa Rica, Antigua, Curacao, and other offshore gambling Mecca's, I witness many self destructive tendencies on behalf of bookmakers that would send shivers down your spine. It is not surprising that many of them are out of business now.
Since 1995, I have personally been following this industry. Nine years later, the same problems that plagued it then, continue to do so now.
AVARICE is killing many of us on an indivual basis, and as a whole. Four decades ago, Pete Seeger introduced to us a song, of which some of the lyrics come to mind now:
Where have all the flowers gone?
Long time passing
Where have all the flowers gone?
Long time ago
Where have all the flowers gone?
Girls have picked them every one
When will they ever learn?
When will they ever learn?
THE SHRINK
