1. 01-08-13 01:35 PM #1
    VegasInsider
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    Can Someone Explain To Me What A Processor Is??

    I hear the term tossed around a lot with sportsbook, but I don't know exactly what one is.

    I know it has to do with financials and such....but what exactly is it?

    Why does it fail?

    I requested a payout from Heritage and he tossed around the term. No problems with the payout, just curious.

    Thanks for the info
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  2. 01-08-13 01:50 PM #2
    pavyracer
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    Your book is located in CR. You are located in US. They can't send you money directly. So your book hires a payment processor in the US to issue you the funds. So if your book is A and the payment processor is B and you are C the money needs to go from A to B and then from B to C. It can't go from A to C.

    However books who don't have a positive cash flow use this as an excuse many times to slow pay players claiming the money is delayed at the payment processor. Obviously if the payment processor doesn't receive money from the book it will not issue money to the player.
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  3. 01-08-13 01:56 PM #3
    Deuce
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    Good write up, PAVER
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  4. 01-08-13 02:08 PM #4
    VegasInsider
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    Thank you, Pavy. In in my mind, I thought it was a physical machine or software. Great write up, makes perfect sense
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  5. 01-08-13 02:17 PM #5
    pokernut9999
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    They also cost the books a lot of money coming and going.
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  6. 01-08-13 02:17 PM #6
    darkhat
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    Processor is a term used by sports books which is easily translated to "we aren't going to pay you today"
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  7. 01-08-13 02:35 PM #7
    wtt0315
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    And with union western and gram of money basically the Books in costa Rica Sign contracts with companies And get them fake passports with many different names. This way they are able to go pick up Money without a problem. So one person will have 20 different passports And he is able to pick up money for 20 different names. That is a reason you have to spell it correctly. That would be considered a processor. Usually the book has to sign in a contract that they will not use a different group of people And they usually will give hundreds of thousands of dollars to this processor for withdrawals deposits. Sometimes the processor quits or goes out And keeps the money. They are pretty shady in costa rica And these processors are everywhere. It is usually up to the owner or the general manager of the book to obtain fake passports for these people
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  8. 01-08-13 02:41 PM #8
    VegasInsider
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    Interesting..

    Sounds super shady.
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  9. 01-08-13 02:44 PM #9
    HeeeHAWWWW
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    proc·es·sor

    (prssr, prss-)n. : An excuse a sportsbook uses not to pay when they are short on cash.
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  10. 01-08-13 03:43 PM #10
    seaborneq
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    Quote Originally Posted by pavyracer View Post
    Your book is located in CR. You are located in US. They can't send you money directly. So your book hires a payment processor in the US to issue you the funds. So if your book is A and the payment processor is B and you are C the money needs to go from A to B and then from B to C. It can't go from A to C.

    However books who don't have a positive cash flow use this as an excuse many times to slow pay players claiming the money is delayed at the payment processor. Obviously if the payment processor doesn't receive money from the book it will not issue money to the player.
    Awesome definition pavy. I could not have said it better.
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  11. 01-08-13 03:49 PM #11
    5mike5
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    its something shit books use as a excuse when they are low on funds...if this word is used u will be outside stated payout timeframe
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  12. 01-08-13 03:56 PM #12
    Iwinyourmoney
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    Processors are 25 Costa Rica people making 3$ a hour running back and forth to W U to send and receive
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  13. 01-08-13 04:16 PM #13
    frizzelli
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    Thank god I only play @ Pinny and use Moneybookers to withdraw no head aches
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  14. 01-08-13 04:22 PM #14
    ChalkyDog
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    You got served?

    Terrible assholes. Tricky too.
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