Who can talk to me about bailouts?

Doug · 07-02-06, 11:26 AM

Originally posted by Mudcat

With the current situation where a number of books appear to be teetering on the brink of collapse, I expect some of our members might like to talk about this. Unfortunately this is something I have never been a part of so I don't know a lot.

I'd call that fortunate
I'm not even sure what questions to ask.

How does it come about that accounts are absorbed by another book? Who makes it happen? When does it happen?

Bailout book agrees to take it on, I guess hopefully to get a customer or good publicity. BBD got me one from Pan-am done by Stars.I got one from Blue Marlin done by Royal a long time ago, I think that was done by Chris C ( Gambling 911 ? ).

A watchdog like SBR or TOW, etc. usually does it. It can take years.

I'm just generally hoping we can discuss all the angles.

Roberto has certainly arranged a few

Ganchrow · 07-02-06, 11:57 AM

Originally posted by Doug

Bailout book agrees to take it on, I guess hopefully to get a customer or good publicity.

I think that that's exactly it. When you consider that books will pay agents and affiliates 20% or more of a customer's losses, a one time payment with a preset rollover requirement could be a good deal. This is especially true when a book has identified a particular player as a likely highly profitable client.

Add to this to goodwill accrued by making so seemingly selfless a gesture, and it becomes apparent why some books might even want to pay for the right to bail out certain customers of failed books.

Doug · 07-02-06, 12:11 PM

Mansion should do some. They'd probably keep the customers at a rate near 100%, while guys will leave a Royal.

bigboydan · 07-02-06, 12:23 PM

first off mudcat, there are two different types of bailouts.

theres total bailouts and theres bonus bailouts.

1. the total bailouts.

these types of bailouts are not easy to come by at all. usually, when people get these types of bailouts. the rollovers are very high (usually anywhere from 10-30x's rollover) along with a few other restrictions books may or may not put in the agreement.

2. the bonus bailouts.

this type of bonus is a little bit more common my experiences over the years.

these types of bailouts will make you post up, and the book will match your post up funds....again though, the rollover and restriction rules will apply on these types of bailouts as well.

In order to qualify for bailouts. one has to prove they are in need of one, as well as needs to be confirmed from the proper sources.

Doug · 07-02-06, 12:55 PM

[QUOTE=bigboydan]first off mudcat, there are two different types of bailouts.

theres total bailouts and theres bonus bailouts.

1. the total bailouts.

these types of bailouts are not easy to come by at all. usually, when people get these types of bailouts. the rollovers are very high (usually anywhere from 10-30x's rollover) along with a few other restrictions books may or may not put in the agreement.

This is the kind I've received. I got a 10X one from Royal, and forgot how many X on the one done BY Stars.

2. the bonus bailouts.

this type of bonus is a little bit more common my experiences over the years.

these types of bailouts will make you post up, and the book will match your post up funds....again though, the rollover and restriction rules will apply on these types of bailouts as well.

This is much worse. Usually done by -110 places, the full vig eats your bailout. If it's 30X it's not worth that much, you have to try to get out early with both sides, IMO. I've seen books offer a 100% bonus with 30X roll, it's great if you can withdraw winnings, not very good if you can't.

JoshW · 07-02-06, 01:06 PM

Baiouts I have been involved in as a player:

BetKO bailed out by Gamblers Avenue (50% bonus on deposit)
Gamblers Avenue bailed out by Royal (full coverage 5x rollover)
Rich Coast baild out by CRIS (No rollover)

freebie · 07-02-06, 05:09 PM

Originally posted by Doug

Roberto has certainly arranged a few

roberto is the master at it. Most of the failed books are recommended by him and his site.

He should have plenty of experiences with these situations.

Doug · 07-02-06, 05:51 PM

He did good with Pan-am, and I don't think he was responsible for steering players there, but he has to take some heat for more recent ones.

bigboydan · 07-02-06, 06:26 PM

yes, roberto has done very well helping recoupe funds from that whole panam mess where others have failed Doug. you do have to give the man his props for that one.

i know he was not successful securing everyones money, but if it wasn't for him confirming your account info with me as per your request. i could have never arranged your bailout offer with stars for you.

aquiring bailouts for people is not an easy job at all in the first place, but especially when your doing it on your own it sure does take alot of time and pateints but more importantly alot of effort.

oh ya... BTW baus, i'm still working on trying to find one for you. so don't give up just yet bud

Doug · 07-02-06, 10:07 PM

I'd suggest anybody owed accept any bailout offered that doesn't require a match. 15X is quite fair.

Mudcat · 07-03-06, 10:44 AM

Originally posted by bigboydan

In order to qualify for bailouts. one has to prove they are in need of one.

Can you clarify what this means?

Another question: in a case like RCS being bailed out by CRIS, would people who already have active accounts at CRIS get their RCS funds added to their existing CRIS balances?

Cheezy · 07-03-06, 11:00 AM

I copied and pasted the following off the 2 books in question. Is this what I need for proof?

No Juice

History for Player:
From 6/26/2006 To 7/2/2006
Beginningof Week Mon Tue Wed Thu Fri Sat Sun Total
Won/Lost 0
Cash In/Out 0 0 0 0 0 0 0 0
Balance 11,446.7 11,446.7 11,446.7 11,446.7 11,446.7 11,446.7 11,446.7 11,446.7 11,446.7

and Bet4Aces

Player-ID
Posted Balance $5,395.00
At Risk on Open Wagers $0.00
Available Balance $5,395.00

Amount Available for Wagering $5,395.00
Last Deposit 05/16/2006
Last Withdrawal 06/16/2006

WOW - this sucks

Cheezy

Doug · 07-03-06, 11:29 AM

Originally posted by Mudcat

Can you clarify what this means?

Another question: in a case like RCS being bailed out by CRIS, would people who already have active accounts at CRIS get their RCS funds added to their existing CRIS balances?

I believe that's exactly what happened in that case.

Doug · 07-03-06, 11:34 AM

Cheezy: It's not a great idea to post your account numbers on the net, I did mine but the acct is dead.

That copy and paste may not be enough. I'm not sure how to do a screen shot properly, someone will instruct you better.

Best luck,

Bill Dozer · 07-03-06, 01:24 PM

Yes, everyone should take screenshots. Usually it's CNTRL + PRNT SCRN but on a Dell laptop it might be the blue Fn key with the blue PRNT SCRN. Once you have that, open up MS Paint or MS Word and hit CNTRL + V or right click and choose "paste".

chano · 07-03-06, 02:39 PM

Thank You. I will try that. I was having trouble figuring this out.

aggie · 07-03-06, 03:07 PM

Originally posted by Mudcat

Another question: in a case like RCS being bailed out by CRIS, would people who already have active accounts at CRIS get their RCS funds added to their existing CRIS balances?

no, only at players request. RCS accounts remained unchanged and people had two in the system.

SBR_John · 07-03-06, 03:36 PM

Here's some trivia: The first industry was arranged by SBR and the OSGA and involved the failed GoldenBets Sportsbook back in late 2000.

SBR/OSGA bought the database from an ex-employee of the book and convinced VIP to be the bailout book. The terms were players had to match their balance with a deposit and there was a 4x rollover imposed.

jm765 · 07-03-06, 09:57 PM

i would take any bailout from bet 4 aces except match play really don't have 3200 extra dollars, boy this is the most i have posted in one forum in a day, time to get some rest