RichCoast Bailout?

[bigboydan]

12.27.2005 (12:29 PM CST)
SBR Bill Dozer reports: BookTheBet(SBR rating D-) owner, Tony Block, tells SBR he is "bailing out" RichCoastSports(SBR rating D). Mr. Block states that RichCoast is currently migrating to his office in Escazu and players will be informed of new wagering requirements on their balances today via email.

[isetcap]

What are the primary reasons for the blacklisting of BookTheBet? Searching SBR yields few results...

[tacomax]

Real shitty post-xmas news. Commiserations for anyone with a balance there.

But, as ever, lessons can be learnt - even to people without RCS accounts.

1) Start-ups in ANY industry are risky. Deposit with caution.

2) Forum shills like AK and raiders who pump up a new book should be ignored - they've both been shilling for RCS.

[pier0]

2) Forum shills like AK and raiders who pump up a new book should be ignored - they've both been shilling for RCS.

Raiders72002 (number of books failed).

[AK]

I cannot comment on this issue if its true or false but promise I will have a conference regarding richcoastsports within an hour or so.

[RPM]

gentlemen,

here is the info i have so far. The majority owner of richcoast sports had a heart attack and regretably has to end his involvement with the sportsbook. new owners have stepped in and taken equity positions from Mercedes.

At this time, it appears that richcoast has moved locations and will be sharing some office space with bookthebet. the ip changeovers are the reason that some people are seeing bookthebet info on the richcoast website.

at this time, there is no definite deal that tony from bookthebet will have any ownership of richcoast. However, it is a possibility, but it will be as a minority owner if it does happen.

I should have more information within the hour so stay tuned...

[jay88]

AK, tell the owners of Richcoast to get in touch with me please. We might work out a deal to take them over.

[pier0]

here is the info i have so far. The majority owner of richcoast sports had a heart attack and regretably has to end his involvement with the sportsbook.

This is exactly what I was talking about in the other 3d on external backers.

This is not the correct way to do business...

[JoshW]

Unreal, these books going down (or best case, changing ownership overnight) like this. Now you know Jay why players live in fear of new books.

[AK]

AK, tell the owners of Richcoast to get in touch with me please. We might work out a deal to take them over.

edited you got mail

[RPM]

please keep in mind here that every player has been paid without a single problem.

i have reports from players who were paid this morning....

[tacomax]

Both raiders and AK have RCS links on their site. Shows how much they value their players.

[jay88]

AK, nothing in my email yet..

[RPM]

Jay,

two gentlemen from mercedes have already taken the majority ownership of rich coast.

[jay88]

Did they sign?!

[AK]

RPM give me a buzz real quick.

[pier0]

Both raiders and AK have RCS links on their site. Shows how much they value their players.

OT on

AK's website flash intro says "endorsed by SBR", I'm curious to hear Bill or John...

OT off

[AK]

OT on

AK's website flash intro says "endorsed by SBR", I'm curious to hear Bill or John...

OT off

It should mention "SBR Top Rated Books" as my tech was from sunsetsports so I have not been able to update this info.

[yokspot]

They seem to have a new phone number up, which is currently manned. Nothing is coming out of it beyond the "upgrade" story, but this doesn't look to me like an up-stakes-and-run job and I'm prepared to give them the benefit of the doubt. But then, having a reasonably sized vested interest I have little choice in the matter.

Hopefully Bill and RPM an keep this thing in check for us.

[pier0]

It should mention "SBR Top Rated Books" as my tech was from sunsetsports so I have not been able to update this info.

Even better...ahahahahahahahahah

Top rated...ahahahahahahahahah

[AK]

They seem to have a new phone number up, which is currently manned. Nothing is coming out of it beyond the "upgrade" story, but this doesn't look to me like an up-stakes-and-run job and I'm prepared to give them the benefit of the doubt. But then, having a reasonably sized vested interest I have little choice in the matter.

Hopefully Bill and RPM an keep this thing in check for us.

I woudnt lean you the wrong way yokspot. They are solid and are not going anywhere.

[Bill Dozer]

gentlemen,

here is the info i have so far. The majority owner of richcoast sports had a heart attack and regretably has to end his involvement with the sportsbook. new owners have stepped in and taken equity positions from Mercedes.

At this time, it appears that richcoast has moved locations and will be sharing some office space with bookthebet. the ip changeovers are the reason that some people are seeing bookthebet info on the richcoast website.

at this time, there is no definite deal that tony from bookthebet will have any ownership of richcoast. However, it is a possibility, but it will be as a minority owner if it does happen.

I should have more information within the hour so stay tuned...

RPM,

Did your computer come with a shovel?

[tacomax]

RPM,

Did your computer come with a shovel?

You're a funny man, Bill Dozer.

[jay88]

What do you guys consider the worst case scenario?! The company is going to be taken over one way or the other!

[RPM]

RPM,

Did your computer come with a shovel?

bill,

this is the info i have come across so far.

one of us is right, the other is wrong. time will tell.

[jay88]

Bill at the place of criticizing why don't you come up with a solution to help out the players!! Have you called RCS offices yet to see what is going on?
RPM is working on finding the best solution for the players.

[SBR_John]

What do you guys consider the worst case scenario?! The company is going to be taken over one way or the other!

Its been a tough season. Let's hope the bailout is real for starters and fair if its real.

[AK]

bill,

this is the info i have come across so far.

one of us is right, the other is wrong. time will tell.

Im willing to gamble my website we are in the right RPM.

Lets see if Bill wants to put $25k on the side.

[BAUS]

AK, your track record speaks for itself. Don't make bets you can't afford to lose.

BAUS

[tacomax]

AK, your track record speaks for itself. Don't make bets you can't afford to lose.

BAUS

Come on, BAUS - since his website is worth jack shit, those are good odds from his point of view.

I cannot comment on this issue if its true or false but promise I will have a conference regarding richcoastsports within an hour or so.

What's the outcome concerning your "conference", AK?

[BAUS]

You're right, he could always pay that same 8 year old to make him a new site.

BAUS

[Bill Dozer]

A heart attack does not cost the sportsbook its customer's money. The bottom line is if players are forced to bet their own funds it is theft by RCS.

Tony and BookTheBet have made some notable mistakes in the past such as using the staff and Mgrs from scam books. The good news is that we have no reason to believe BookTheBet is a reincarnation of one of these scam books and is not partners with scammer Marty Kidd, as reported elsewhere. We have not received any payout complaints.

Tony has contacted SBR on a regular basis to inquire about proving himself and his book. As I told him today, this is the opportunity he was looking for. He will undoubtedly be surprised by the amount of players heading for the door but the book can flex its muscles by paying each player in record time with a smile.

Tony and Phil are currently sorting out the wagering requirements. Tony is not going to be a minority owner.

[jay88]

Just posted in TOW... Nothing to worry about...

To all Rich Coast clients,
As RPM stated our majority shareholder did have a major heartattack earlier this week. He has sold his equity position and new owners have stepped in. With this change we decided in the interest of lowering expenses to relocate our call center and servers to the bookthebet location in Escazu. Where we can share staff and resources. We anticipated that this move would take appoximately 4 hours. Due to unforseen issues this have taken much longer than anticipated. Nothing in Costa Rica seems to ever happen as quickly as it should. We are currently exporting our database right now and expect to bet able to process wagers within the hour. We did anticipate having it up early as indicated by RPM but we ran into a few addtional snags.
Sincerly,
Rich Coast Sports

[raiders72001]

I've been running a free contest at my site sponsered by RCS. Many players have cashed out. Idiots like Taco, who can't tell the difference between 30 minutes and 9 hours, have no idea what they are talking about. No one has been stiffed.

[tacomax]

I've been running a free contest at my site sponsered by RCS. Many players have cashed out. Idiots like Taco have no idea what they are talking about. No one has been stiffed.

1) It looks like the book has sunk.

2) Just because no-one has been stiffed (since this is very new news) doesn't mean to say that no-one will get stiffed. Remember the PTS shambles where a number of people have still not been paid?

3) Raiders still has the RCS banner on his s(h)ite. Nice.