First Cascade cold calls and now slow pay complaints

[bigboydan]

I figured it was going to happen at some point after the cold calling started a few weeks ago.

Cascade (SBR rating C) player reports five figure slow-pay and multiple failed payout promises. Cascade states that payouts will resume next week when a new processor is obtained. A player who submitted a withdrawal complaint Tuesday received his full $10,000 balance yesterday via Neteller, which is no longer being offered.

[Richard@Cascade]

BBD,

All items will be addressed promptly. Bill, please give Lenny a call when you get a moment.

The calling is unrelated, as it is an effective marketing tool used by most companies similar to ours.

Regards,

Richard

[statguy]

Just a thought Richard, when you don't pay your bills on time, don't go asking for more money.

[pags11]

Richard,

I've got to be honest...I'm pretty dissapointed with all of the complaints of cascade lately...I just can't consider playing with them at this point...hopefully you guys will get it together before the start of football...

[pokerking]

Cascade should be rated lower than a C. Dealing with Lenny is like playing Russian roulette. Lenny confirmed with me that he processed the payout to my friend for about $28,000. It was all a complete lie and Lenny just stole his money. I have the conversation history to prove it if Lenny tries to deny it. Lenny is a compulsive lier.

[jason]

I must say that I have defended Cascade and Lenny a couple of times over the last few months regarding payouts.
They paid me, a large balance holder, just about weekly, although they have now missed a payment. I continued to play with them, and have gotten Lenny's assurance that I would get my next withdrawal Tuesday.

While I am concerned that SBR downgraded this book, I still must say that so far he has been honest. I told Lenny I could wait until Tuesday since he had a problem to sort out. I will let the forum know the results Tuesday.

[pags11]

jason,

it appears that cascade is really on shaky ground at this point...am monitoring the situation as well...

[Doug]

That B straight to C is a huge drop for SBR

I remember only Panam dropping like that, then it was too late to get out in time.

[pags11]

yep doug...

[Stumpage]

I have no active account at Cascade, and only can go off what I read here on the Forum, but in the 3 years I've been following SBR I can't recall such a sudden collapse of a book with regards to the ratings system. Unless I'm mistaken, I'm fairly certain they were considered an "A" book just a few months ago, for what that's worth.....Scary. Was absolutely going to redeposit there, but "wait and see" seems to be the best course of action currently.

[Helmut]

I have been waiting for my money for more than 10 days now.

[Doug]

try a transfer to Greek.

[pokerking]

That B straight to C is a huge drop for SBR

I remember only Panam dropping like that, then it was too late to get out in time.

People should get their money out of Cascade asap. When it turns into a Betpanam or Ace's Gold situation it'll be too late to get your money out. The writing is on the wall.

[knicknut]

I never got my cashouts that I requested multiple times in early February.

Only because Bill facilitated (encouraged) some B2B transfers to Matchbook was I able to get most of it out (and I busted the rest, fortunately on a 0c scalp). Never actually got a payout from them even when I had a balance up to 5 weeks after requesting a payout.

[bigboydan]

I recall your problems with them Knicknut way back in February. That took you a while to complete that transfer partial transfer too. I think most of us here knew that there were about on bust way back then, because they wouldn't transfer all your funds to Matchbook as per your request.

[TLD]

After Floyd Patterson had been knocked down by several tomato can challengers in title defenses but gone on to win those fights, he implied that that’s somehow all the more impressive, to keep coming back like that.

That’s about all Cascade has left. For years they’ve gone in and out of slow pay mode, had more complaints and rumors in the forums than just about any “name” book, but have never gone under. They’ve always found a way to survive, generally by affiliating with another book. Given their track record, there’s a good chance they’ll do so again now.

But if it were me, I’d get my money out of there as soon as possible. Stick with the books that don’t spend so much time on the canvas, regardless of whether in the past they’ve always gotten back up.

[knicknut]

I recall your problems with them Knicknut way back in February. That took you a while to complete that transfer partial transfer too. I think most of us here knew that there were about on bust way back then, because they wouldn't transfer all your funds to Matchbook as per your request.

Exactly. I'm just happy my balance there is 0.

[bigboydan]

I knew right then and there that there was a big problem with Cascade, because Lenny would never do that to a player in the past.

[Ballpark]

I've just been told that things are not looking good for Cascade.

[JELLYBEAN]

Duh

[mjc257]

People have been talking about this for months now, I don't know why this is news to people. Cascade to Matchbook Transfers is EASILY the best option for "payout".

Lenny did pay a friend of mine a five-figure balance over about three weeks in February.

[Bill Dozer]

Transfers not an option as of late. We are told they will be back tomorrow.

[pokerking]

Transfers not an option as of late. We are told they will be back tomorrow.

No sportsbooks want to give Cascade credit. That's why you can't do transfers.

[Newguyintown]

"Transfers not an option as of late. We are told they will be back tomorrow (WHICH IS TODAY)."

I just called and spoke with Monica who reported that Lenny said that not yet still.

I'm having serious issues there though....sent you a PM Bill.


NG

[Computer]

I just ring and ask when my $4600 Neteller payout that i requested on Monday will be processed ... she ( i assume was Monica ) told me by next Monday. I told her if they can make a book to book transfer and she told me that still not available yet and that it is likely i will have the money in to my Neteller account by Monday so she suggested me to wait for Neteller.

[Doug]

No sportsbooks want to give Cascade credit. That's why you can't do transfers.

bad sign

TOW downgrade to 2 as well.

[BigBollocks]

I'm really afraid the writing is on the wall here gentleman...

[Helmut]

They said I would have my money by Wednesday and my account balance renains the same.

[PitBoss]

Waiting for my ** withdrawal since the 27th of March. Looks like cascade is a no pay book.

[Newguyintown]

Well there will be no transfers today, and Lenny said he honestly has no idea when they will start up again.

Well I went through this before, although it was not accompanied by an SBR downgrade and a TheOnlinewire downgrade and Lenny, after not following through for a while did finally deliver with 4 payouts to me (over the span of months).

So just have to trust when he says we will be paid and hope he delivers again.


NG

[PitBoss]

I've just spoken with Monica. She says that ** is not an option anymore. Same with book to book transfers.

[Newguyintown]

Called and confirmed this as well.

This is bad.


NG

[pokerking]

Here's the latest article on Cascade. This place is finished.


4/4/2007
Cascade (betcascade) downgraded from 4 to 2


Cascade (betcascade) new downgrade from 4 to 2 as new adverse information reaches our desk. The sports book is actively seeking a financing partner to find the $2 million needed to refinance the operation.

Without financial backers, reportedly without processing facilities, having discontinued to offer Neteller to its international customers Cascade appears to be on the verge of collapse.

Players are strongly advised to lower their balances at this time, although it might be already too late.

Some of Theonlinewire.com international readers reportedly managed to recover their balances via Neteller hours before the operation discontinued offering that option.

[bigboydan]

"Transfers not an option as of late. We are told they will be back tomorrow (WHICH IS TODAY)."

I just called and spoke with Monica who reported that Lenny said that not yet still.

I'm having serious issues there though....sent you a PM Bill.


NG

I'm corresponding with a gentlemen right now that is getting the same B.S. as you are sir. Lenny said to check back with him tomorrow. Personally, I feel thats yet another stall tactic on Lenny's part, but we shall see.

[MOST]

I just don't get it. These guys were top notch just a short while ago. Wouldn't a financial backer want to get a piece of its action?
I mean I know serious players who chose to play there - even over Pinny?
Someone has got to step in here.

Does the fact that they're still a C on SBR mean anything?