what is the deal with spreads.com?

[buddyboy]

from spreads website:
Spreads Sportsbook & Casino is an independent brand that is part of a family of sportsbooks which have been operating online for more than five years. These companies receive financial support and servicing from Casablanca Sportsbook (BetCBS) and Offshore Wagering International, a contracted service provider to the sports betting industry.

From SBR:
-04/09 SBR Bill Dozer reports on Spreads.com (SBR Rating D): CS Manager Dan states that all the payouts requested so far this week are pending transactions, they will hopefully start processing them today. SBR Bill Dozer has been told on the phone that "BetCBS manages them but will not pay their players until they receive money from Spreads. It's speculated that maybe Spreads.com expected CBS to pay but this will not be the case"
-04/08 SBR Bill Dozer reports: player files a slow-pay complaint against Spreads.com, an operation based out of the BetCBS premises. Bill Dozer to mediate for the player and report back.



Be careful

 

[marc]

Incredibly stupid of betcbs. Players who got paid by spreads were often paid out of betcbs's neteller, giving the impression that betcbs was backing them. One player who asked Dave Johnson at betcbs about spreads was told that although owned by different people, betcbs would only spreads to use their services if they maintained a proper level of capital.

The fact that betcbs continues to allow spreads to operate knowing full well that no one can make a withdrawal is further proof of the lack of integrity of betcbs

I would like to commend Cecil who said back in February, that when spreads goes under, betcbs is going to sit idly back and watch everyone get stiffed, and take zero responsibility

 

[WAGERWEB]

Marc

Your right. We did say we would only service them if they mantained the proper level of capital.

They made a deposit this morning and all pending payouts were processed.

We have numerous outfits operating from our establishment. They have all lived up to the guidelines we have laid down. We would not jeopardize our own reputation just to earn service fees off an up and coming book.

Sportsbook review contacted us last evening. They said they received an email from a player. The player was never given the run around. When he requested his payout we sent him an email from betcbsports explaining we were waiting for their deposit which was late. Spreads did provide confirmation but we were unable to verufy until this morning.

It was verified all pendings were processed.

All books that operate from our establishment and do PostUp are required to to have all posted funds on deposit all the time. Spreads is now fully up to date.

Dave Johnson
betCBsports.com

 

[TheGeneral+]

Thanks for the post Dave.

Much appreciated.

 

[RobertoCastiglioni]

Seems to me sbr made a mess out of a non story. I like John a lot and seriously hope sbr doesn't turn into 911, the known king of trash.

Roberto

 

[WalkofLife]

Roberto;

That wasn't John's story, it was Bill Dozer's and I backed him up. SBR Bill Dozer will report facts and he will be given the means to contact as many people as he needs to, just to get the facts straight.

SBR posted:

<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>-04/08 SBR Bill Dozer reports: player files a slow-pay complaint against Spreads.com, an operation based out of the BetCBS premises. Bill Dozer to mediate for the player and report back. <HR></BLOCKQUOTE>

Spreads.com operates out of the BetCBS premises. That's a fact.

Bill Dozer reported back the facts.

Where's the mess?

One last thing Roberto, since this is my decision to air, I must address this very issue. I'm not looking for news and I come up with my own stuff, based upon our OWN research. You can disagree, but won't you become Sting yourself... insuinitaing without stating. Take a stand and be firm about it. If you have anything to tell me, please do so.

Will

 

[WalkofLife]

Dave Johnson;

SBR contacted BetCBS, we got as far with the dialogue as your screening process allowed us.

I hope you understand the factual nature of our reports.

Will

 

[WAGERWEB]

Will

I understand.

You reported the facts from the player as well as from us accurately.

I do understand and I appreciate the factual nature of your report.

All the best.

Dave

 

[Halifax]

<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Originally posted by WAGERWEB:
Marc

Your right. We did say we would only service them if they mantained the proper level of capital.

They made a deposit this morning and all pending payouts were processed.

We have numerous outfits operating from our establishment. They have all lived up to the guidelines we have laid down. We would not jeopardize our own reputation just to earn service fees off an up and coming book.

Sportsbook review contacted us last evening. They said they received an email from a player. The player was never given the run around. When he requested his payout we sent him an email from betcbsports explaining we were waiting for their deposit which was late. Spreads did provide confirmation but we were unable to verufy until this morning.

It was verified all pendings were processed.

All books that operate from our establishment and do PostUp are required to to have all posted funds on deposit all the time. Spreads is now fully up to date.
Dave Johnson
betCBsports.com<HR></BLOCKQUOTE>

Dave@CBS:

Since you're here ... I'm currently a happy customer of CBS, but I have to say that a lot of your post looks like double-speak.
-----------------------------------------

After the SportsBettingArena fiasco, I was under the impression that you didn't want to have another stiff book operating out of your facility.

And in fact, in the first part of your post, that's basically what you're saying (I think): "We did say we would only service them if they mantained the proper level of capital. We have numerous outfits operating from our establishment. They have all lived up to the guidelines we have laid down. We would not jeopardize our own reputation just to earn service fees off an up and coming book.
"
------------------------------

But then further down, you seem to contradict this: "They made a deposit this morning and all pending payouts were processed. When he requested his payout we sent him an email from betcbsports explaining we were waiting for their deposit which was late.

As I read this, it means that if Spreads NEVER sent you a payment, you would not have made the payouts to the customers. So is this the case - if Spreads never sent you the funds, would the players have been S.O.L. ?

----------------------------------------

One more thing:

"All books that operate from our establishment and do PostUp are required to to have all posted funds on deposit all the time. Spreads is now fully up to date.

Although you state that all books are required to have all post up funds on deposit all the time, this obviously wasn't the case, or else you would not have had to delay payments to the clients.

Not only that, if you couldn't make the payments until Spreads sent you some coin, that means that either (1) Spreads funds on deposit were way, way, way below 100% of post-ups, and/or (2) their customer base is miniscule.

------------------------------

Maybe you could explain your policy in a bit more detail, regarding the books that operate out of your facility.

 

[lakerfan]

Good post Halifax. Dave has always treated well, but I have to agree that there seem to be two different stories competing in his post.

 

[TheGeneral+]

<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>It's speculated that maybe Spreads.com expected CBS to pay but this will not be the case"
<HR></BLOCKQUOTE>

Who did the speculating and maybe here?

Thanks

 

[marc]

Dave,

This is what concerns me. You were paying players out of casablanca's netellers account, giving players the added sense of security that you were backing them. When you stopped payouts to spreads customers, did you also stop taking deposits, I doubt it?

Dave, it is entirely up to you, how you want to run you business. But you should know that many of the players at spreads are there because they think that you will einsure that they get paid. And they will hold it against you if they get stiffed.SO you may want to seriously reconsider your funding requirements, to make surethat none of the books that you help manage, ever get to a point where players aren't being paid on time.

 

[WalkofLife]

<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Who did the speculating and maybe here? <HR></BLOCKQUOTE>

General,

A customer representative of CBS stated the following:

"BetCBS manages them but will not pay their players until they receive money from Spreads. It's speculated that maybe Spreads.com expected CBS to pay but this will not be the case"

SBR Bill Dozer just reported back.



Dave:

Halifax, lakerfan and marc have made some very valid points here.

My recommendation would be to not endorse or vouch for any operation, over which you don't have resource management access. And cretae a healthy distance between these operation and your own.

It might affect your role as a service broker, but in the long run the benefits will be sound.

Please let me ask you one last question, Dave:

As far as I understand Spreads.com has NO financial bounds with BetCBS. Spreads.com is an independant and self-sufficient operation that simply leases services from you. Am I correct?

Thanks in advance for taking some of your time to answer, I appreciate it.

Will

 

[SBRBillDozer]

Spreads was 5 days late on Neteller payments. They were also late on WU; stating it was due to their WU account being dry. When players called they were given names of employees to contact who were either on vacation or in long meetings. CBS had a timeframe they were comfortable with, while the players were worried. Payments were processed the next morning as CBS assured.

General,
When players contacted Spreads they were told to speak with managers of CBS. When I asked why that was, I was told "maybe they expected us to pay".


Roberto,
The more resources for the player the better but maybe it would be beneficial for you if SBR went downhill since you copied the site inch for inch and painted it yellow.

 

[TheGeneral+]

Ol' Buzzsaw hired some public defenders huh?

You guys got a job to do. Do it well and good luck. We will assist in any way we can.

 

[WalkofLife]

General;

How is Buzzsaw involved in any of the matters discussed above?

I'm standing by my deeds. If you have any question, please ask.

 

[TheGeneral+]

Walk,

This means razz. Like a joke.

<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR> You guys got a job to do. Do it well and good luck. We will assist in any way we can. <HR></BLOCKQUOTE>

This means, well, like it states. Sorry to ruffle feathers buddy. I assumed of all people, you could have fun with it and respect the offer of assistance.

I'm not here to fight. Figured I had made that clear over time.

 

[WalkofLife]

Gotcha...

Be well, my man. I can see you too have mastered the fine art of nuttcracking...

Peace out

 

[TheGeneral+]

It feels good occasionally