RED FLAGS: SIGNS THAT A SPORTS BOOK MAY BE IN TROUBLE!!!!

[THE SHRINK]

I think there were some red flags that were ignored regarding BET PAN AM...

I'd like for everyone who can add to the title of this thread to particate...

1- IF A SPORTS BOOK STARTS OFFERING RIDICULOUS NEW PERKS OR BONUSES THAN THE NORM, IT MAY BE IN TROUBLE...

2- IF A SPORTS BOOK STALLS FOR TIME WHEN GAMBLERS ARE REQUESTING PAYOUTS, IT MAY BE IN TROUBLE...

3- IF A SPORTS BOOK HANGS OUT DIFFERENT NUMBERS THAN THE MAJORITY OF SPORTS BOOKS, IT MAY BE IN TROUBLE....

4- IF A SPORTS BOOK HAS MORE THAN ONE GAMBLER COMPLAIN OF A SLOW PAY, IT MAY BE IN TROUBLE...

5- IF A SPORTS BOOK HASN'T BEEN IN BUSINESS FOR THREE YEARS, IT MAY BE IN TROUBLE...

6- IF A SPORTS BOOK IS REFUSED TRANSFERS BY OTHER OPERATORS, IT MAY BE IN TROUBLE...

7- IF A SPORTS BOOK REQUIRES YOU TO LEAVE YOUR MONEY WITH THEM LONGER THAN THE NORM BEFORE YOU CAN WITHDRAW IT, IT MAY BE IN TROUBLE...

8- IF A SPORTS BOOK SUDDENLY PULLS ITS ADVERTISING FROM WATCHDOG SITES, IT MAY BE IN TROUBLE...

9- IF A SPORTS BOOK USES "SHILLS" SHAMELESSLY ON FORUMS, IT MAY BE IN TROUBLE...

10- IF A SPORTS BOOK MAKES CLAIMS IT CANNOT BACK UP, IT MAY BE IN TROUBLE...

THE SHRINK

 

i would add that if a sportbook has empty neteller funds often(like bet pan am did)it could be a red flag

 

[Jazz]

Fair enough - btw, was there a topic here before the fact and in plenty of time, initiated by this site, which pointed these signs out before panam started their descent into the fiery bowels? In other words, did you notice these signs and advise people here to be wary or pull their money out? You may have, I'm just asking.

 

[lander]

11. If a sportsbook has a close & personal relationship with Major, it may be in trouble.

 

[Dante]

<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>5- IF A SPORTS BOOK HASN'T BEEN IN BUSINESS FOR THREE YEARS, IT MAY BE IN TROUBLE... <HR></BLOCKQUOTE>


GREAT list ken I like the above quote the best

 

[Jazz]

10- IF A SPORTS BOOK MAKES CLAIMS IT CANNOT BACK UP, IT MAY BE IN TROUBLE...

That covers about 99% of the books out there.

 

[Fishhead]

I think THREE years is a little high.

But I get your drift.

Obviously, the longer length of time a sportsbook is open, the more credible it becomes IF it has proven to be a sportsbook with NO major issues.

But I guess looking at ALL the books I play at, the top 15 for SAFETY ONLY have been around for 3+ years or more, so maybe your right.

BETAUSTRALIA may be the only possible exception. Not sure if they have been around over 3 years. I do not believe so, but they make my top 15 for safety of books I play at.

 

[TheGeneral+]

We are and have been in a rogue environment. As long as people continue to breed and as long as offshore gaming is unregulated, there will continue to be stiff jobs.

 

[miamiman]

8- IF A SPORTS BOOK SUDDENLY PULLS ITS ADVERTISING FROM WATCHDOG SITES, IT MAY BE IN TROUBLE...

not naming names one or two left last week - are you refering to them...

 

I still have funds at BetPanAM. Should I try to withdraw my money. I have enjoyed using them for the low vig but have yet tried to collect. Thanks for any input

 

[D2bets]

Jazz, I don't think so. I think this is being filed under the category of "lessons learned". Live and learn.

Then again, unless I'm missing something, I don't recall Blue Marlin showing any of these warning signs.

 

[MangoMan+]

Shrink- Let's take the list you just proposed that should be followed and also take one of your favorite books, Bodog and look at the situation. These things go against what you feel is a top flight sportsbook.
3) Bodog hangs different numbers than most other books.
5) Seems to me Bodog has been in business for less than 3 years but I'm not 100% certain on this. Can someone confirm how long they have been open.
9) Shills like Rich Stiles are always saying how great Bodog is. Books like Pinnacle and Olympic don't seem to have shills. Everyone agrees that they are top shelf and don't kick out people if they win.
10) Bodog claims to have a bond but no one has ever confirmed this.
On top of all that they take very small limits and the owner is known to have had serious problems in the past and is using a fake name.
Does my case for Bodog being a C sportsbook or less hold water? I'd like to hear the masses thoughts?

 

[lakerfan]

1. Maybe, but their bonuses weren't that out of line.
2. Yes there was a slow pay period, but for me it was when they where under DDOS and Canbet had the same Neteller excuse as BetPanAm. For others I guess there were more frequent slow playing.
3. BetPanAm numbers were fairly middle of the road when I was betting into them. I had trouble meeting my rollover as the limits where low and the lines not that appealing.
4. Yeah slowpays are never good. Was some warning in this area.
5. LOL. Yeah if you just stick with plus 3 year books you can be a lot safer. I had really never thought of this one.

And at the time a certain forum owner and certain bettor where telling everyone PanAm was unique.
6. Maybe when things got bad after it was too late they stopped doing transfers, but they were doing transfers even into January with Olympic.
7. Don't remember PanAm having any 30 day rule or midstream rollover or rule changes.
8. I THINK THIS IS A JOKE. I don't worry when a book pulls its advertising, I worry when it starts advertising or when it goes to another forum and does ads there as well. Think BetPanAm (joined MW and OGD), GA (joined MW late, huge forum pressence), NewAgeBetting (joins RX, starts contests).
9. Right on, on this point. Book reps always pushing their sites in a huge warning sign. Contest as well.
10. True. SEE BODOG THREAD.

 

[THE SHRINK]

lakerfan,

Number 8 is a two-edged sword. Your point is also well taken, but mark my words that mine is also not to be taken lightly...

THE SHRINK

 

[SportSavant]

<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>8- IF A SPORTS BOOK SUDDENLY PULLS ITS ADVERTISING FROM WATCHDOG SITES, IT MAY BE IN TROUBLE... <HR></BLOCKQUOTE>

Is this not a double negative...I mean how can a true "watchdog site" accept advertising in the first place?

 

[packer2012]

If you have battery operated talking fish on at least four walls in your house....

YOU MIGHT BE A REDNECK!


PS...

My opinion... No matter how new or how inexperienced, if a book has a reasonably wide group of clients and any decent bankroll... there is no way they can get in trouble besides...

1) Gambling heavily in addition to booking

2) Being out and out crooks who took the deposits with the likely outcome being to stiff people!

Right or wrong?

 

[buddyboy]

GOLDEN RULE: IF A SPORTSBOOK IS IN BUSINESS... IT MAY BE IN TROUBLE.

 

[TheGeneral+]

<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Originally posted by buddyboy:
GOLDEN RULE: IF A SPORTSBOOK IS IN BUSINESS... IT MAY BE IN TROUBLE.<HR></BLOCKQUOTE>

As long as there is no recourse for thievery, then the players are in trouble. I have no doubt there are very nice books available that are in no trouble. They may choose to steal, but they are in great financial shape.

The posters that have been around here get alot of good info.

There are many new sign-ups daily offshore that will result in theft that we will never hear about.

 

[nets2k2]

8- IF A SPORTS BOOK SUDDENLY PULLS ITS ADVERTISING FROM WATCHDOG SITES, IT MAY BE IN TROUBLE...


That one is rather funny. What if they are being extorted by the watchdog site owner? Bluegrass comes to mind. Hrmmmmmmmmmmmmmmmmmm.


One to add is When a book offers you a bonus not to withdraw your funds like Panam did before their crap hit the forums.

 

[neilm]

#8 is the opposite of what it should be. It should read...

"If a sportsbook expands its forum advertising, run like the wind....."

Blue Marlin, NAB, Camelot, PanAm all increased their forum advertising in the months preceeding their problems/demise.

In hindsight we can see that this increase in advertising was a sign that they were desperate for cash and a last ditch effort to breath some life into their cash inflows.