On one hand you have the bedrock of the offshore industry, Olympic, Grande, CRIS (and I'm sure many others) that are accepting transfers from RIO. That says their money is good. These businesses are speaking with their bank books, actions speak louder than words.
I keep hearing this same proclamation. But it is essentially meaningless without facts. If book-to-book transfers are an indication of financial strength, then please tell us all, Olympic, Grande, CRIS, Hollywood: 1) How much money has been transferred to your respective books from RIO in the last week/month? 2) What are the terms of the transfers? 3) How long will you hold a transfer balance on the books without receiving the subsequent cash payment from RIO? 4) Do you credit 100% of the transfer amount immediately for the underlying account?
On top of that, Ken has put up 6 figures in a Pinacle account to secure the RIO post up money. Again that can be verified by calling Piny. Ken already said that information, the account balance will be public.
This is certainly a very admirable gesture but: 1) Why do I have to call Pinnacle to verify this? Why don't they just post here or elsewhere that they are in receipt of collateral funds supporting RIO accounts? 2) How do I know that Mr. Weitzman has in fact funded this account and not RIO themselves? 3) How much post-up exactly does this $100,000 support? $500K?--$ 1MM--$2.5MM?
On the other hand you have a bunch of internet posters hiding behind their monitors and keyboards posting rumors. They are not will to put their money where their mouth is.
This statement is the truest here yet pretty ridiculous as well since the author is an anonymous internet poster himself, despite the self-proclaimed "insider" designation. Yes, Gringo, I know you and your statement certainly carries more weight with me personally, but 90% of other forum participants have no clue who you are and honestly shouldn't give a rats ass about your comments. There are quite a few posters here and elsewhere whose opinions and knowledge should be heeded; unfortunately they have agendas too nor do too many here and elsewhere know who they are.
I have no idea about RIO other than what I read around here and elsewhere; picking up little facts along the way. I have no desire to play with them as I am a relatively modest non-scalping player with no need for more than three or four books; hence I stick with the overwhelming consensus of the "strong" books: Olympic, Pinnacle, Grande, (with smaller balances at Hollywood, Bowmans, and Bet365).
Ultimately, since these non-public, unregulated books share NO information pertaining to their fiscal condition with their clients, here are the only facts we know about RIO, I think:
1) They have been around for quite some time with a relatively strong reputation,
2) They have had a change of ownership recently and seen some management turnover,
3) They have some appealing programs (free 1/2 point) that are good for players but that can only have a negative impact on their gross profit/win percentage,
4) They receive support within the bookmaking community with tacit approval from other well-regarded books through the "transfer" proclamations,
5) Their previous Owner/General Manager once carried a bag full of cash (hopefully not players postup)over to a freinds house and loaned it to him,
6) One of their current owners/operators personally gambles very large amounts.
This is all I really know about this shop, all of it gleaned from these and other pages. And unfortunately, it is more than I know about most books, including those that hold my hard earned money.
God Help Us.
