(Old Topic, dated 08-16-2002) General Warning about the industry

At this time, I do not recommend any offshore exposure.

I have no detailed information about any specific books, but I believe that the industry is teetering BIGTIME. And YES, the Domino Theory applies.

I believe that the only thing that can possibly save (delay?) books is a GREAT (for books) first few weeks of the football season.

At the beginning of July, I closed all of my offshore accounts.

I strongly recommend that readers seriously think about what their exposure is (and reintroduce themselves to their local!).

There is no way anyone should have more than a week's worth of betting money in any book. And allow for the possibility that you may not see that.

Again, I have no specific information about any one book and while I am certain that there are books that could withstand an industry collapse, at this point, I am not certain enough to risk my money.

Good Luck,
Joe

 

[wantitall4moi]

I have been filtering my offshores a lot lately. With footbal here now I bet about 90% right in Vegas,so it limits me this time of the year anyways. I always have less than 5 figures at all my offshores come December anyways. But this year I will be filtering off even sooner.

I have even closed a couple outright. I generally am not too concerned until I get into hoops full swing. But if worse comes to worst, I can also call Vegas and have one of my buddies put the bets in. Which I know is illegal, but as it is now, might be the lesser of all the complexities facing this industry.

I TRUST Vegas. Lines might not be that good, and might not be as convenient. But I know I have a ticket in hand that I can take and get cash for when it wins. And to me that is THE MOST important factor.

 

if withdrawls were to be made on a mass scale though wouldn't the books go out of bussiness much sooner, not later or not at all?!?!?!?

 

<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>I TRUST Vegas <HR></BLOCKQUOTE>

I'm sure you know that a whole bunch of guys who book for you in Vegas(directly and indirectly) play offshore.

Joe:
That's a pretty BOLD statement. No strong arguments to back this one up? Anyway a lot of those locals, aren't they agents for offshore books?

 

That's Joe's opinion and he is entitled to it...

Kind of reminds me when people panic on Wall Street...

Personally, I have my money where my mouth is and where my livelihood is too, OFFSHORE...

There are still A LOT of SOLID sports books who do business the honest way and aren't going anywhere, period...

There is no need to predict total gloom, doom and despair when the industry is in a consolidation mode...

That's exactly how I see it...

THE SHRINK /infopop/emoticons/icon_wink.gif

 

[Payton]

Joe,

Who peed in your Wheaties??

/infopop/emoticons/icon_eek.gif

 

There are still A LOT of SOLID sports books who do business the honest way and aren't going anywhere, period... - shrink

no way to guarantee that. the us government is attempting to prove this theory wrong as we speak.

 

wrong general...

The US government cannot dictate to other governments, like Antigua, for example what should be legal over there and what should not be...

Furthermore, they cannot enforce it either...

THE SHRINK

 

maybe i am wrong from that aspect, but there is no way to ensure any book is going nowhere. any book can close shop any day and forget us. im not trying to dis you here shrink, but there is simply no guarantee in offshore gaming security.

 

General,

I understand where you are coming from, too.

But, if the US government can take away a Jay Cohen from WSEX, and that company has thrived even more since he has been gone, and they can take away a Ron Socco, and CRIS remains strong, too, then this tells me that the offshore industry cannot be stopped by Uncle Sam, period...

 

ok, i will not say that the us government can stop this because i totally agree that they cant. i made a haste statement there. i was wrong and i am against the us government for trying.

sorry, that was a dumb statement.

 

Do you sit at your computer waiting to question everything SHRINK says? What ever he says your their to play "generals advocate"!!!! No way the whole industry is in trouble, you really think the government is going to take the industry down? I`ve never seen so many paranoid people.....

 

maybe you should read my previous post in this thread where i admitted i was wrong.

 

and, i never have said once that this industry was going down. i only said and still stick to it, that there is no guarantee with any book.

 

[PanchoSanza]

a while back I list a bunch of books and Judge Wapner says they are all fine/solid etc.

Now Joe comes in with this.

Who is telling the truth?

I know sportingbet/bet365 are ok, I have $$ there.

But am I now supposed to be worried about CRIS/Olympic/WWTS/WSEX ?

Joe, are you out and out saying these books need a few good weeks of football or else they could go under?

I find that hard to believe....

 

[wannamakeabet]

How could the moderator of this board yell fire in a church with no substantial evidence? Joe, if you haven't been handed your walking papers already you should get them now. I've seen you say some assinine things before but this takes the cake.

 

[Seymour]

Joe, thanks for the heads up! However, you have just screamed fire in a crowded theater.

I am only asking for you opinion. This fall I plan on playing at Rio/Skybook, Pinnacle, Canbet, WWTS, WSEX, Olympic, Grande, and Heritage. I am in danger.

 

maybe you should read the list of mods at the top of the page before u let your alligator mouth get your hummingbird azz in a mess.

 

olympic & wwts is all you need.

 

Joe,

Guess your not on the rx payroll anymore /infopop/emoticons/icon_biggrin.gif /infopop/emoticons/icon_biggrin.gif /infopop/emoticons/icon_biggrin.gif You and your word is trash...........I really enjoyed not seeing your post for weeks... and you really have a nerve with this thread...... /infopop/emoticons/icon_mad.gif /infopop/emoticons/icon_mad.gif /infopop/emoticons/icon_mad.gif /infopop/emoticons/icon_mad.gif