Cascade downgraded once again

[suzysuzy]

so sportsbooks offer bailouts? u think cascade might do that? ive never heard of that.

[suzysuzy]

?

[SBR_John]

Suzy not in this case. Books offered this before and took it on the chin as a marketing expense. They are not spending on marketing now. Second, Cascade's database is not one any book would want or trust.

Lenny has to come through. Its highly unlikely anyone would buy cascade or bailout it out. The debt load is too high and the database is too sharp.

[Breaker]

As far as Lenny coming through, what are the options he has left?

[SBR_John]

Good question Breaker.

In my opinion not many. Or said more concise, none.

The only good thing is that Lenny doesn't run. If he does the show is over. If he does he knows he will never make it to the big time ever again. He doesn't want that.

The last option seems to be the only option. And that is that he hangs in there and works himself out of this hole. There are still sites taking ad money and pumping their posters to deposit at cascade. That helps. He still has his credit side that earns and keeps the doors open I'm guessing.

But this final option is full of bad possibilities. The players get hot and he could have to run. Also, its the dead season and a tough time for a book to work out of a hole.

[Breaker]

You think there's a decent chance he'll survive if he lasts until the NFL starts again?
That time of the year should offer at least SOME relief.

[SBR_John]

Under how you phrased the question I would say yes. Of course that will make the 1st 4 weeks of football critical. He needs the ball to bounce his way too which it usually does for bookmakers that time of year but not always.

[Breaker]

John, thanks for all your honest and insightful answers.

It still doesn't look good, but I feel that as long as they're trying we have a shot, and it does look like they are trying.

[Richard@Cascade]

Breaker,

You will be paid. Apologize for the delay, but you will be paid.

[Tofu_Boy]

Breaker,

You will be paid. Apologize for the delay, but you will be paid.

I really hope so.

[d2bets]

Breaker,

You will be paid. Apologize for the delay, but you will be paid.

Does that apply to only to "breaker", or will all other customers be paid as well?

[Breaker]

Thanks for replying, Richard!

Don't mind the wait, just hope you guys get back on track for the sake of everybody (including all the off shore books in general).

[suzysuzy]

Breaker,

You will be paid. Apologize for the delay, but you will be paid.

yeah, weird you singled out breaker. how come u never responded to my emails, richard?

[tacomax]

Breaker,

You will be paid. Apologize for the delay, but you will be paid.

Sorry, Richard, if you're going to barge into the thread then you've got to come up with something better than that.

You might believe people will be paid, you might even know that people will be paid but you've got to provide significantly better assurances than that.

[DrSlamm]

you will be paid.. and cash will fall from the sky..

i really hope everyone will be paid.. but where is it going to come from?

[Richard@Cascade]

cash fall from the sky...Why make light of this? I am just letting this gentleman know that he will get paid. We are working on this now. Also, not blaming two players for our problem, just looking to collect some large figures from their B2B situations. It is nothing more than that.

[DrSlamm]

I am not making light of it at all.

[pags11]

hope the people owed by cascade get paid...

[Breaker]

On another forum "Greivin" from Cascade explained how several times they gave customers timetables, and due to circumstances every time that "bit them in the rear".

That seems logical with all the stories I read about how Cascade has tried different ways to improve things, each time to no avail.

He also said they "expect to have everyone paid in full before august, if not sooner" and explained that due to the open nature of forums he could not explain the details of what was going on, but that customers were invited to call Cascade and talk to Lenny if they wanted to know details.

This all sounds very much like a book trying to get it back together rather than one getting ready to close shop and run off with everybodies money, and I'm starting to feel a lot more confident they can pull it off.

[magnavox]

This all sounds very much like a book trying to get it back together rather than one getting ready to close shop and run off with everybodies money, and I'm starting to feel a lot more confident they can pull it off.

Apparently you missed the BetOnStars & Bet4Aces debacles.

[Breaker]

I did, can you fill me in?

[jason]

I must say, this situation is not like the other crook books. To be honest, it sounds like it is not like any other situation at all. But it is about Lenny and his figuring out how to take care of his players, which he has givevn his word on. I for one, have hope that he will figure this out - hopefully over the next few weeks.

Important reputations are on the line here, and the fact is they have paid and paid pieces - confirming that this is not a guy who wants to take players' money.

I hope my faith is well placed, and will report back as updates become available.

[SBR_John]

Well said Jason.

[magnavox]

I did, can you fill me in?

Nothing special, but similarities are striking...

[them45ter]

Bad memories and it is for that reason I am not holding my breath. Bet4Aces dragged on and on until they dissapeared, however I do feel this has a slightly different feel about it, with Cascade being very upfront and they are answering the phones. More to the point Cascade was an A book, whereas Bet4Aces never got above a D (?), surely that must count for something.

Good luck to Cascade, we are all behind you and hope you sort your problems out.

[Breaker]

Couldn't have said it better

[Jasper11]

bill, when you gonna make them an F?

Making them an F will end all hope of ever collecting. No one will deposit and any potential investors will be scared off. I know that many of us want some satisfaction but I don't see how lowering the rating will help. Besides a D- rating seems pretty accurate until the web site is down and are officially dead

[philswin]

excerpt from interview I saw online with Lenny:



Lenny: The reason I would tell people that they need to have an account at Cascade is ….first of all because we’re going to pay them quickly if they win. No ones going to come to you and say Cascade didn’t pay me or anything like that. Everybody gets paid quickly when they win.

[Ganchrow]

Making them an F will end all hope of ever collecting. No one will deposit and any potential investors will be scared off. I know that many of us want some satisfaction but I don't see how lowering the rating will help. Besides a D- rating seems pretty accurate until the web site is down and are officially dead

Without speaking towards what Cascade should properly be rated (that's not my department), I will say that SBR isn't in the business of propping up books with artificially high ratings.

SBR's rating for any given book is supposed to fairly and accurately represent that book's current status and isn't put in place to perpetuate a Ponzi scheme.

[philswin]

Justn and others - see posts from Richard on this thread . In 2007 telling players they will be paid

[OmgUrMom]

did breaker and suzy ever get paid? this book is closed now or not?

[philswin]

To my knowedge nobody got paid inclusding myself. There was some sort of attempted lawsuit but do not think it ever got off the ground. Still think Cascade is stealing money from people as a deposit only book.

For the record I deposited there in March 2007 after being assured by Richard they were a top flight book. After requesting a payout several weeks later and not receiving it I was told by Richard numerous times that I would be paid and they were having temporary problems. He is now at Phoenix and I see a lot of complaints coming from that book.

My point when I originally commented is simply do not trust anything Richard tells you

[OmgUrMom]

whats the name of the site? would be insane if the site was still up and taking deposits, after not having paid for over 3 years......

[OmgUrMom]

i tried cascade.com, nothing came up for that domain

[grekos]

Thanks for heads up.