Bill, do you have any indication that funds might become available for Cascade down the line?
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Unfortunately nothing has materialized this week and bettors likley won't be paid any time soon. Players are left to hope that other business ventures can be profitable so they have a chance to be paid in the future.Originally posted by BreakerComment -
are they still not F?Comment -
Sorry Breaker. There is nothing taking place right now that suggests BetCascade will be able to pay you.Originally posted by BreakerComment -
Thanks, Bill, keep us posted.
Are any other books going through this?Comment -
There is no Cascade, and anything other than an F for them is a joke at this point. Is there a non-zero chance that they come up with the cash? Anything is possible. But let's not kid ourselves.Comment -
There isn't anything like the Cascade situation that we are aware of. We will keep our eyes on the situation and hope that there may be a plan for the long term.Originally posted by Breaker
Yes, if Cascade keeps saying yes to deposits and no to withdrawals they will be downgraded further.Comment -
Maybe it's my english, but I don't understand your post...Originally posted by Bill Dozer
The intention of my post was to say that SBR John was stupid to give people false hope, when he had absolutely no reliable info to back it up.Comment -
Slash, I for one don't mind hearing any morsel of info regarding this situation, and by now I know better than to get my hopes up too much no matter what.
But any indication that Cascade is still trying to do anything to improve the situation there means I still have a shot at maybe getting my money someday.Comment -
Breaker, I think that the owner telling John that he will pay the players is completely useless info. You rarely see an owner of a sportsbook tell a watchdog site that they won't pay.Comment -
these guys went from the outhouse, to the penthouse and are now back in the outhouse...Comment -
Well said paqs. Slash, hmm, you are certainly entitled to your opinion. I dont think I did anything more than report the latest conversation but its rather trivial in any case.Comment -
but you did say youd give it a 50/50 chance, which was absurd given their history.Comment -
Lenny is a complete thief to be taking post-up money and not paying anyone.Comment -
TOW calling them dead:
Once respected BetCascade sportsbook is virtually bankrupt; the operation owes hundreds of players, agents and vendors well in excess of $2 Million according to Costa Rican sources.
The fast demise of BetCascade (betcascade.com, cascadesportsbook.com) began at the end of football season when the book's former financial backer withdrew his support and one of the original partners in the venture retired.
The sportsbook entered slow pay mode at the very beginning of February and has been formally in no pay mode since mid April. Costa Rican sources report that the book's owner personal assets account for approximately 30% of the debt.
Several attempts to seek new financing partners have failed and the total loss of goodwill nullified chances of a last minute deal. BetCascade primarily catered to professional player who currently represent over 65% of all owed debtors.
Players are urged to avoid BetCascade by all means; the operation is still advertising on some Web sites despite its demise. Players depositing with BetCascade must be aware that they have zero chances to get paid.
Players are reminded to verify sports books rating prior to funding their accounts. Click here to view TheOnlinewire.com sportsbook rating guide.
TOW Industry Newswire - Published April 29 2007 - 5 am EST - TheOnlinewire.comComment -
What does that mean?Originally posted by DougComment -
maybe Lenny owes 2 million, but only has 600,000 ?Comment -
bill, when you gonna make them an F?Comment -
I love when people completely make up facts!!!
Where did TOW get their 65% professional number? Did they read Cascade's prospectus?
How does TOW have a clue what is owed or what Lenny is worth?
Bullshit reporting at it finest!
SeanComment -
increasedodds,
As you probably know, TOW always just make up numbers.Comment -
lenny's stilll saying "this week for sure". he said the money's frozen but theyre gonna get it this week. he says i have NOTHING to worry about LOL.Comment -
Did he explain how it was frozen?Comment -
Check out the thread at EOG. Lenny claims that Pokerking and another poster has stiffed him for 6 figures, and that's the reason for the slow pays
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Originally posted by suzysuzy
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no. does it matter? like you can believe a word that comes out of his mouth...Originally posted by BreakerComment -
so sad that I don't even bother to call Monica anymore. Keep checkin back here to see anyone get paid but none happen for 2 weeks now.Comment -
From what I understand, every time he made promises it was because he actualy had something he was working on. You can see several examples of this earlier in this tread.
The fact that all those things fell through so far doesn't take away from the fact that he is still trying.
And as long as he is, you and I both have a shot at getting our money in the future.
Which might be a long shot at the moment, but better than no shot at all.
Watching Tony Soprano lose all those bets last night reminded me a little of this situation.
Because he lost the bets he couldn't pay the money he owed to that Jewish guy and help out Vito's widow.
Was his way of trying to get the money good (chasing lost bets)? No, but he also could've let them both hanging completely.
Instead he kept looking for a way out, and I'm hoping Cascade will do the same.Comment -
Here's the difference between this situation and others. It is clear that Cascade is trying to pay players. It is not like a place that is trying to get whatever money they can and run.
While it is true that they have not been able to close the deal on the most recent funding options that Lenny has been talking about, I have to say that I really think this book is trying to do something. The next few weeks will obviously confirm or undercut this, but I believe that this book is not yet done, at this juncture.Comment -
why anyone would play anywhere besides greek/betjam and wsex/matchbook is beyond me. the risk is just too high.Comment -
Jason, I'm glad I'm not alone in believing that.
I also think I'm due to have something go my way.
The NBA season has been good to me but my money is all tied up with Cascade since Pinny went down and they were rated A-
First the last minute session of the "Do Nothing Congress" that pushed the bill through (at 10 pm on a Saturday night of all things)
Then Pinny and Neteller closing, now right when the NBA season is over this Cascade thing...
As I said, I'm dueComment -
I hope you are right Breaker! This is the third time I have been caught up in problem books (must be more careful which books I play with), so I really hope for a resolution. At least they havent shut up shop yet.Comment -
Is Lenny still claiming that they have funds tied up in Neteller?Comment -
Them45ter, what happened the other two times?Comment -
Yeah I want to know also.Originally posted by Breaker
About Cascade I also think there's still chance they are trying to pay us.
#1 cs still there everytime I call.
#2 I spoke mainly with Monica and she seem to be honest... tell me the true that nothing she can do at this moment to help me and keep ask me to call back and get up date from her.Comment -
Both times I accepted a bailout offer from BetRoyal, I cannot remember the exact terms, but it worked out in my favour and I recovered a large portion of what I had in both books.
In both cases the books shut up shop and stop answering phones, so I am a bit more hopeful this time around. I really dont want to have to go through the bailout process again, but if it is the last resort I would very much welcome such a chance.
Fingers crossed.Comment
