Requesting a WWTS Update

Newguyintown · 10-15-06, 10:08 PM

So what the hell does this mean? Are we going to get stiffed? This is such unreal bullshit. I was doing my best to stay with ONLY top-level books. Got out of everywhere except the A books, and Betwwts had been an A book and had been just downgraded to B+ but I still felt safe (and Mansion). And with no warning whatsoever, it drops to C- WITH my money. What use are ratings if they're good until they're no longer good. I have a lot of money at WWTS, gonna be devastating to lose it.

N G T

Dark Horse · 10-15-06, 10:16 PM

It's ugly. They say they follow the advice of lawyers. Maybe it's time to fight lawyers with lawyers because this is totally unacceptable. People should always have access to their money.

There already is a thread about this (started by SBR John).

tacomax · 10-15-06, 10:43 PM

Originally posted by Newguyintown

What use are ratings if they're good until they're no longer good. I have a lot of money at WWTS, gonna be devastating to lose it.

Unfortunately that's how ratings work. Ratings can only go on past performanace and how you perceive future performance to be. If SBR had a crystal ball then their ratings would be spot on 100% of the time and no-one would ever get caught in an incident like this. However, if SBR had a crystal ball then they'd no doubt use it for the purposes of betting on games rather than being a watchdog site.

moses millsap · 10-15-06, 10:47 PM

Originally posted by Dark Horse

There already is a thread about this (started by SBR John).

Yeah, that one surprisingly turned into a poltical rant.

Dark Horse · 10-15-06, 10:52 PM

That one was recently updated with the text of Betcorps strategy.

Bill Dozer · 10-15-06, 10:53 PM

The latest 'update' in the public release is that they are acknowledging slow-paying but still pushing for a sale because it is the best scenario for owners. They are putting themselves above their players who trusted them not to deny them their funds. We should have an update that is not from their shareholder statement in the morning.

Bill Dozer · 10-15-06, 10:54 PM

Originally posted by Newguyintown

So what the hell does this mean? Are we going to get stiffed? This is such unreal bullshit. I was doing my best to stay with ONLY top-level books. Got out of everywhere except the A books, and Betwwts had been an A book and had been just downgraded to B+ but I still felt safe (and Mansion). And with no warning whatsoever, it drops to C- WITH my money. What use are ratings if they're good until they're no longer good. I have a lot of money at WWTS, gonna be devastating to lose it.

N G T

You are not going to be stiffed but WWTS owes you interest now.

Newguyintown · 10-15-06, 11:52 PM

Originally posted by Bill Dozer

You are not going to be stiffed but WWTS owes you interest now.

I wish I knew why you were so confident. But it does make me feel a whole lot better that you are.

N G T

pags11 · 10-16-06, 03:51 AM

I don't think WWTS will stiff people either...

moses millsap · 10-16-06, 12:55 PM

NGT,

Sucks you relied so heavily on the A+ rating, I think most here would've told you that the rating was much too high to begin with, especially in the last few years. I had a one time experience with them and when they gave me the "D" book runaround on getting a cashout, I quickly got out and never looked back, and that was 3-4 years ago. Hope you get your money out of there, but it's looking bad at this point. I'd stick with Pinnacle, WSEX, Cascade, and Greek at this point if you decide to continue wagering offshore.

pags11 · 10-17-06, 03:47 AM

the A+ rating was definitely too high, especially the last 12 months...they had some financial problems dating back to at least a couple of years ago...I never remembered them slowpaying people, but just with their balance sheet...