Cascade (Lenny) blaming 2 Agents for Cascade's Troubles

[Sam Odom]

2 Agents are "stiffing" Cascade so $$ flow is a problem right now.

[jjgold]

Could be right if the numbers are high

[Sam Odom]

Could be right if the numbers are high

Cascade's message boy is The Shrink, he said both owe 6 figures each to Lenny

[chano]

I call bullshit.

[SBR_John]

We had heard this on the streets in CR last week.

Seperate issues however. The post up players are paid on demand. Nothing to do with the credit side.

Agents lay down sometimes and they really lay down if they think the BM is history. I hope Lenny collects every penny he is owed. But as I mentioned, that's a seperate deal. The post up players sent their money to Lenny to hold. Those that won should have their money returned... end of story.

[Helmut]

That jackass needs to change the webpage because payouts are not being made in 7-10 day time frames. If he can't collect from his agents that's his problem not mine. Also if 200K is causing him this big of a problem that must be one hell of a shitty book.

[WWTSblows]

We should feel bad or let that be a valid excuse?

If he couldn't handle that money not being paid right away, then he should have never extended that much credit to them.

This just seems like even more reason to avoid them moving forward.

[chano]

Why are they still rated D- ? ? ? ?

[SBR_John]

Why are they still rated D- ? ? ? ?

Good question. There is really no reason this book shouldn't be an F. And if there is one, I'd love to hear it.

[JELLYBEAN]

Did shrink think before he posted that idiotic statement. Agents/players go bad all the time. The well always goes dry. Greed by cascade for giving ridiculous credit lines is there own fault.

[jjgold]

Anything comingf from Shrink means it is not true

I thought this was a credible source?

[pokerking]

As usual Lenny's claims are complete lies. He owes a number of agents money.

[Justin7]

I look at Cascade, and wonder: what the hell happened?

Is this the highest rated book to ever belly flop? What was their top rating?

Where did they go wrong? Did they get mauled by sharps when dealing -105? Their bonuses were not too aggressive.

Stiffs or not, it looks like Cascade was undercapitalized. If two credit players not paying up cause payout issues, Cascade needed a lot more capital than they had.

[DrSlamm]

mauled by sharps at -105 is my guess

[pags11]

I just think the books without true financial backing have been exposed...

[acw]

Greed by cascade for giving ridiculous credit lines is there own fault.

I think this is the real problem that many bookmakers have.
Their greed goes so far that they will take the responsibility of some clients that their agents call trouble. Then obviously one client starts winning, wants to get paid, another client starts losing, refuses to pay and it all becomes messy.