Why did ACES GOLD go Bankrupt?

[Vikings2]

Huge bonuses?
No juice Friday's?
Bad lines?
No big money backing?
Terrible management practices?

 

yes
yes
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apparently not big enough
yes

 

[Camden]

Ditto.

Well-said.

 

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[Vikings2]

Great feedback.

I never played with them or ever heard much about them being a top 5 sportsbook.

All I heard about Aces Gold was that they gave out huge bonuses and had no juice friday's. They also had lines that were lower than any other sportsbook out there.

Don't know the history of Charlie. Somebody said on a another forum he had a bad repuation before he came to Aces Gold.

I'm sure somebody here will write a column about how they gotten themselves into bankruptcy.

 

[cash]

Many people want to blame the bonuses and Wiseguy/Scalpers but it appears to me that they were setting lines for one-way action(ie ne +14.5 SB). In other words they were gambling on the side they were heavy on and not bookmaking.

 

[GringoinCR]

Cash, don't fool yourself, the bonuses and no juice were the number 1 reason why they went out of business.

The bad lines are an SOS cry for help as the ship is already sinking. A last attempt to make money.

Bottomline is if you are not making money on services provided, you go broke. Gamblers are demanding all the bonuses and freebies in the world, then they are left holding the empty bag.

Solid and reasonable or even no bonus = your money and winnings are safe. That is the best and only bonus gamblers should be looking for.

 

[JGreen]

With such a large customer base you can only venture a guess when things got tight Management panicked and made some very bad decisions. It sounds like they started gambling to try and get even. Yeah that works!

 

Looks like they finally gave the shop, with all of thier great deals. Sometimes those great deals comes back to kick your ass, in this case it only kicked the players ass that still had maoney left there.

 

[Fishhead]

Bad management

 

[GreenDoberman]

A little history thread.

 

[aceduecetrey]

GD- Who is that in your avatar? SMOKIN!

 

[dimeplayersonly]

they didnt go bankrupt.......charlie took the money and ran.....he has been living it up, and laughing his ass off ever since....and is far from bankrupt

 

[RobFunk]

full track odds for horse racing

 

[azg04]

How could a big clientele sportsbook can go bankrupt when the majority of the players are squares and sometimes big whales? From where I see it a very poor management and bad investment of the profits.

 

[REDEYE]

If you even had a half a brain their was no way you couldn't make serious money having that shop as one of your outs. No vig friday created alot of nice plays combing that with your other shops. I basically set myself up for alot of "No Risk " games with nice middles. What a sad day it was when folded up

 

[kermit16]

Aces Gold went belly up because they were crooks ! Plain and simple... no other reason !

 

[WEEKENDALKI]

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yes

Sounds like a Rio Shill contest.:monsters-

 

[Journeyman]

Sounds like a Rio Shill contest.:monsters-

not if you're GI Joe

more like;

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yes

 

[beenaround101]

You had to be dead if you didnt see what they were doing.Aces during college bowls had the lines so far off industry that it was so obvious that they were taking a shot . The super bowl number was so high ,I heard old gambers that were dead ,rose from the grave to take 16 on New England.They also stopped the Friday night no juice which they let any player move thru the number 3 at ten cents.You could make a game that was 4 buying down to 2 - for (4nojuice, 3-10,3-20.2- -130 ) so a 4 line was now 2- minus 130 and 3s were plentiful for a few months before they went under.
I knew they were in trouble months before and took out all my money.Still I had to send them another 10 to get a bonus and play New England.Greed,I would do it again.