Any problems cashing payout checks at US banks?

[stillmitch]

I've been betting for a few weeks now through Bodog and I'm planning on requesting a payout check soon. Is there anything I should know about cashing one of these checks at my bank (Chase)? I'm a bit apprehensive as I've seen that some banks make it difficult to deposit funds into the online books; didn't know if it worked the other way around as well. Any input from an experienced bettor would be greatly appreciated

[Quagmire27]

I've no problems with bodog checks deposited to BofA, don't sweat it. My advice is find a better book. I started with bodog figuring they'd be most likely to pay out when that time came. They pay out fine, no trouble, but have for the most part moved on. Other books are reliable too, and offer much cheaper lines... bodog is good for the occasional dog play, sometimes their favorites are a half point higher than the consensus.

[SBR Lou]

stillmitch,

No sportsbook that sends checks will be able to bat 1.000, it's unfortunately the nature of processing. Bill posted a good explanation on why checks bounce recently (which I've quoted below).

I wouldn't sweat it, a very small % of checks have problems. You should be just fine.

Unfortunately just about every book that has check processing has had to reissue at least one batch of checks within the last year. It's not related to the amount or NSF. It happens when the third party check processor decides it doesn't want/choose to continue processing for the gaming company and has live checks linked to a checking account that is now closed.

Best case scenario is they break off the relationship and give the funds to the sportsbook who reissues the check through a different processor. Everyone apologizes and players are compensated when necessary. The worst case scenario is the processor claims to have their funds frozen or just stiffs the sportsbook. It's kind of ironic that the sportsbook also has to post-up funds.

That's why being established in the industry and resourceful is valuable to players. Bodogs and the Bookmaker.coms get stiffed by a processor and it's considered overhead vs. an excuse for why they folded with your money. Checks bouncing in today's environment won't usually affect a rating but the ability to absorb processor issues, handle the impending influx of CS inquiries, and have the resources to correct it quickly will.

[stillmitch]

Excellent, thanks guys!

[ok now what]

Appreciate the info about processing. Explains a lot.