What happens to ur sportsbook money if you die?

[BuddyBear]

Anyone know what happens to the money in your sportsbook accout if you suddenly pass away. I mean not like it matters, but let's say you have a family...and some of us have thousands of dollars tied up in offshore accounts. Is there any policy on this? Just curious.

[SBR_John]

Good question.

One thing you should do is have a master list of ID's n PW's on disk that is kept with your will or in a safe/safety deposit box that you update a couple of times a year. Then if you bite the big one someone in your family will figure out how to get the money although I'm sure it will take some effort.

[onlooker]

Good question.

One thing you should do is have a master list of ID's n PW's on disk that is kept with your will or in a safe/safety deposit box that you update a couple of times a year. Then if you bite the big one someone in your family will figure out how to get the money although I'm sure it will take some effort.

Good idea. Maybe leave a note with it so they know how to get to it.

[jjgold]

I am sure it has happened already and I guess just sits there nothig different than bank if you do not have a wil

[Mudcat]

Every Monday, I e-mail all my main files to 2 other places (my sister and a trusted friend). That includes accounts, PINs and passwords (including Neteller and bank). This is designed to be disaster insurance.

Some things are coded but it has all been explained to them. If I died suddenly, it would be a bit of a scramble for them to remember everything but all the pieces are in the files and I know they would eventually get it all worked out and be able to pull in all the dollars.

[marc]

If the heirs know of the accounts, but don't neccesarily know the user id, and/or password, I beleive any honest operation would release the funds if presented with a seath certificate.

The bigger problem arises when the heirs aren't aware of the accounts. Some books have policies that they can seize funds from dormant accounts. The more honest ones, after a year or two of inactivity will call or write, to remind the owner of the account that there are still funds available

[SBR_John]

The bigger problem arises when the heirs aren't aware of the accounts. Some books have policies that they can seize funds from dormant accounts.

We get a lot of these complaints. Even my buddy Roberto used this trick to prop up the books a little during tough times at Royal. They will reinstate your account if you come back and say Hey, wheres my fvcking money? But if your a stiff that could be a little tricky.

[d2bets]

I am sure it has happened already and I guess just sits there nothig different than bank if you do not have a wil

Coach, it's a lot different. Decedent's bank accounts can get to heirs without a will through intestate estate proceedings identifying their legal heirs of the decedent under state law.


Mudcat, sounds like you have a good plan, but why do you need to re-email everything every week? Sounds like a big ordeal.

[why]

I leave all id and passes with wife.

[Mudcat]

Mudcat, sounds like you have a good plan, but why do you need to re-email everything every week? Sounds like a big ordeal.

It's just a routine I've gotten into. I have set up my Outlook calendar to give me a pop-up reminder every Monday morning. It's not a big deal at all. It's just an e-mail with 2 recipients and three files attached (2 Word and 1 Excel).

Typing this response has been more work than sending the e-mails this morning. The files are being constantly updated so once a week seems about right.

Actually it's only the one file that directly relates to this question of what happens if I die ?. The other stuff with my bets and banking and research is more something I like to have in more than one place in case my computer here got stolen or destroyed.

I think of it as disaster insurance. There is a lot of stuff that would hurt a lot to lose - so I make sure that the worst thing that can happen is I lose one week's worth of updates.

[Mudcat]

Here's something I happened to notice at WWTS that relates to this topic.



Inactive Accounts

4.19 We reserve the right to charge a management fee on any customer account that remains open, with a balance that has had no activity for 12 months prior. The fee thereafter will be $10 USD per month, or 1/12th of the existing customer balance, whichever is the greater.

4.20 Any returning customer who wishes to place a wager, may contact our Accounting Department at 1-800-580-5558 to request that any such management fees applied to the account are reimbursed.

[moses millsap]

Bumping this for some of the posters on this board who will soon meet their demise.

[biggamer3]

Here's something I happened to notice at WWTS that relates to this topic.



Inactive Accounts

4.19 We reserve the right to charge a management fee on any customer account that remains open, with a balance that has had no activity for 12 months prior. The fee thereafter will be $10 USD per month, or 1/12th of the existing customer balance, whichever is the greater.

4.20 Any returning customer who wishes to place a wager, may contact our Accounting Department at 1-800-580-5558 to request that any such management fees applied to the account are reimbursed.

Kind of odd that i am replying to a 2 year old post!

But that is bullshit if a book charges for a "management fee", just call it what it is "a bullshit charge"

[MoneySportsGuy]

It's just a routine I've gotten into. I have set up my Outlook calendar to give me a pop-up reminder every Monday morning. It's not a big deal at all. It's just an e-mail with 2 recipients and three files attached (2 Word and 1 Excel).

Typing this response has been more work than sending the e-mails this morning. The files are being constantly updated so once a week seems about right.

Actually it's only the one file that directly relates to this question of what happens if I die ?. The other stuff with my bets and banking and research is more something I like to have in more than one place in case my computer here got stolen or destroyed.

I think of it as disaster insurance. There is a lot of stuff that would hurt a lot to lose - so I make sure that the worst thing that can happen is I lose one week's worth of updates.

Man o man I wish I was that organized already to do something like that right now. And that is kinda sad because I thought I was pretty organized but don't have anything like this set in place, so thanks for the reminder to get on that!

[mad]

Bumping this for some of the posters on this board who will soon meet their demise.

?

[Panic]

Just so long as whoever got the check didn't try to take me with them to get it cashed,...pushing me along on an office chair.

[Bullajami]

I keep all my account info in a notebook. I have an instruction sheet stapled to my will in a fireproof safe in our home. The instructions list the contact info for two of my sports betting buddies (that I trust). My wife is to get one of them to come over, give them the account info notebook, and have them figure out where my bankroll was when I kicked.

[jolub]

This is something I need to do. My problem is that the old lady wants nothing to do with my computer.

[JBC77]

Add me as a primary beneficiary guys.

[Wrigley]

Something I never thought about, time to ad it to my secret envelope to be open in case of death

[THE HITMAN]

See, now, this is a great topic and thread. I am going to get all my info together and put in my safe box this week. Thanks for the reminder.

[20Four7]

I keep track of all my bets using excel beside each sportsbook is my account number. I guess I should put a pass word in a separate file just incase. The only would who could possibly get the money out is my brother, the rest of my family is sportsbook/computer impaired

[ChampDog]

Also........

I believe some Books have it also in there Lawerez that if the account has been Inactive for a certain amount of time, THEY Keep it ALL !!!

Here's something I happened to notice at WWTS that relates to this topic.



Inactive Accounts

4.19 We reserve the right to charge a management fee on any customer account that remains open, with a balance that has had no activity for 12 months prior. The fee thereafter will be $10 USD per month, or 1/12th of the existing customer balance, whichever is the greater.

4.20 Any returning customer who wishes to place a wager, may contact our Accounting Department at 1-800-580-5558 to request that any such management fees applied to the account are reimbursed.

[playersonly69]

Good thread here!

I would think that the book get to keep the money.


I know that my wife doesnt know ANY OF MY accounts. Hell even when I win $5000.00 in a weekend, I sure as HELL dont tell here about it! She never knows about the big scores

[VLADYMYR]

Good thread here!

I would think that the book get to keep the money.


I know that my wife doesnt know ANY OF MY accounts. Hell even when I win $5000.00 in a weekend, I sure as HELL dont tell here about it! She never knows about the big scores

Yeap same to me no one knows about my big winnings and I think most of bookies will keep the money except major one as pinnacle etc.
great topic