1. #71
    dante1
    dante1's Avatar SBR PRO
    Join Date: 10-31-05
    Posts: 16,558
    Betpoints: 299

    Quote Originally Posted by panther11 View Post
    Wow, I signed up with Omega a couple of weeks ago and was about to pull the trigger this week and deposit about 10k wiht them to send to Jazz and 5dimes. Not anymore. Wow, is all I can say. WTF kind of business decision is this?

    Guys naturally I agree with you concerning Cascade, it is
    a real joke and Omega should be ashamed.

    However, I was thinking about doing Omega too. But, do I have this wrong. Don't they want about 10% fee for WD's? If so, that is absolutely crazy. If I am wrong, please
    correct me. No way I pay 10% to get my winnings.
    175 pts

    3-QUESTION
    SBR TRIVIA WINNER 06/11/2018

    SBR Founder Join Date: 10/31/2005


  2. #72
    bigboydan
    bigboydan's Avatar Become A Pro!
    Join Date: 08-10-05
    Posts: 55,430

    Quote Originally Posted by Omega Mike View Post

    Cascade has requested that they no longer be a merchant of Omega. So effective immediately Omega and Cascade have no further relationship.
    I'm not doubting this at all. However I sure would like to know why Lenny had such a change of heart, because it doesn't sound like Lenny at all when he's in total steal mode right now.

    SBR Founder Join Date: 8/10/2005


  3. #73
    Wassymac
    Wassymac's Avatar Become A Pro!
    Join Date: 02-21-06
    Posts: 1,090
    Betpoints: 12

    Great to see this come to a close. I'm reposting my question from the other thread so it gets better visibility.

    Omega Mike,

    I appreciate your responses as you've taken a bit of heat here but I'd
    like to sneak at least one more response on the following questions about your fee structure and the addition of more quality books besides 5Dimes & the JazzSports group if possible.

    For the masses I've posted my deposit experience before but will repeat that I had no trouble getting money into Jazz and the CS Rep "Thomas" was a big aid keeping me updated through the process.

    Originally Posted by increasedodds View Post
    Your idea of a new merchant is great.

    Your 8% fee for end users is crazy. You need end users. They are much harder to get than merchants.

    You are already netting 2% on transfers to merchants. Bump that up to 3% like Neteller and drop the 8% fee on your users. You'll have a hell of a lot more users.

    I hope this succeeds and that you revise your fee schedule. I'd love to use you guys, but can't see paying 8% of thousands of dollars when you can wire for $25... Maybe you could do 8% up to $25 or something, but no one is gonna pay $800 to move $10,000...

    -Sean
    It would be great if Omega Mike could comment on this. Explains a bit more why the 5% first time bonus is possible. I understand why the 8% is in the fine print as it would scare away users but I'm just curious why it has to be that extreme when books are already paying Omega 8% on deposits.

    I'd imagine your customer base would explode with a reasonable fee structure for the end user plus a little more flexibility of moving funds to other books.

    Also curious if there are anymore books in the works? A month or so back it seemed Omega was close to adding Bookmaker and in discussions with Matchbook. With those two added it would be huge...as of now the options are kind of limited. Seems with OIS that all withdrawals (even winnings above the initial deposit) must be withdrawn back to Omega.

    Thanks

  4. #74
    Omega Mike
    Omega Mike's Avatar Become A Pro!
    Join Date: 08-14-07
    Posts: 43

    Omega

    Wassy,

    The 8% on the cash out is needed because we give the merchant a 6% commission when they send the money to you via Omega. We are always evaluating the effectiveness of any particular pricing structure and this is no exception.

    We are still in talks with several other sites but Bookmaker has not started using Omega as of this date and I am not sure when that will occur. I will keep you posted on any new additions.

  5. #75
    RonPaul2008
    RonPaul2008's Avatar SBR PRO
    Join Date: 06-08-07
    Posts: 6,178
    Betpoints: 7332

    Quote Originally Posted by Omega Mike View Post
    Cascade has requested that they no longer be a merchant of Omega. So effective immediately Omega and Cascade have no further relationship.

    Heh,it appears cascade followed the thread and decided omega would forced to try and get cascade to do payouts before processing any deposits. Why am I not surprised?

  6. #76
    RonPaul2008
    RonPaul2008's Avatar SBR PRO
    Join Date: 06-08-07
    Posts: 6,178
    Betpoints: 7332

    I would take 90% of my cascade balance in a heartbeat.


    Quote Originally Posted by dante1 View Post
    No way I pay 10% to get my winnings.

  7. #77
    bookie
    bookie's Avatar Become A Pro!
    Join Date: 08-10-05
    Posts: 1,872
    Betpoints: 242

    In the marketing literature there's this new term called "the prosumer"--mixing together producer and consumer.

    The theory is that in a time of internet-enabled transparency where everybody knows everybody else's business to a much greater extent than ever before, producers have to be more sensitive than ever to what consumers want and why. Not only with regards to what they sell, but who they do business with and how they sell.

    This thred is a good example of that new dynamic.

    Good job Mike for listening to your base. Best of luck in your effort to get Omega off the ground as a viable transfer company.

    SBR Founder Join Date: 8/10/2005


  8. #78
    atakdog
    atakdog's Avatar Become A Pro!
    Join Date: 09-04-07
    Posts: 139
    Betpoints: 12

    I wonder whether perhaps Cascade asked not to be working with Omega, after Omega mentioned, perhaps as a result of this thread, that Cascade would have to pay out something...

    I don't know this industry all that well, but my knowledge of human nature says there's something more to this story. And I wouldn’t be surprised if it would make Omega Mike look good.

    Curiouser and curiouser.

  9. #79
    JoshW
    JoshW's Avatar Become A Pro!
    Join Date: 08-10-05
    Posts: 3,431

    If Cascade has time to look for new ewallets, would think they would have the time to find some funds if they exist.

    SBR Founder Join Date: 8/10/2005


  10. #80
    Bill Dozer
    @BillDozer110
    Bill Dozer's Avatar Become A Pro!
    Join Date: 07-12-05
    Posts: 10,896
    Betpoints: 10990

    Quote Originally Posted by atakdog View Post
    I wonder whether perhaps Cascade asked not to be working with Omega, after Omega mentioned, perhaps as a result of this thread, that Cascade would have to pay out something...

    I don't know this industry all that well, but my knowledge of human nature says there's something more to this story. And I wouldn’t be surprised if it would make Omega Mike look good.

    Curiouser and curiouser.
    Omega would be riddled with requests when they go live next week and Cascade has already said that payouts to owed players won't begin at that time. It would just highlight the one-way street for both parties.

    SBR Bash
    Punta Cana
    Attendee 1/31/2015

    SBR Founder Join Date: 7/12/2005


  11. #81
    Omega Mike
    Omega Mike's Avatar Become A Pro!
    Join Date: 08-14-07
    Posts: 43

    Thanks

    Thanks to everyone in this thread for the comments and input.

  12. #82
    increasedodds
    increasedodds's Avatar Become A Pro!
    Join Date: 01-20-06
    Posts: 815

    No Omega Mike, you do not need to charge consumers 8%.

    You already charge the book 8% when the consumer deposits..

    Consumer deposits - you charge book 8%.
    Book payouts - you give book 6%.

    You have netted 2%.

    Deposits are far greater than payouts so you actually do better than that.

    Taking 8% from the bettor simply ensures what could be a very profitable business (Neteller was doing $200,000/day in revenue at the end) goes under before it gets off the ground...

    You should revisit this.

    Sean

  13. #83
    SKiLLsSoLoN
    Glad to have baseball back!
    SKiLLsSoLoN's Avatar Become A Pro!
    Join Date: 07-22-09
    Posts: 905

    Wrong Thread!
    Last edited by SKiLLsSoLoN; 09-19-10 at 01:16 AM.

  14. #84
    SKiLLsSoLoN
    Glad to have baseball back!
    SKiLLsSoLoN's Avatar Become A Pro!
    Join Date: 07-22-09
    Posts: 905

    Sorry for double post!
    Last edited by SKiLLsSoLoN; 09-19-10 at 01:16 AM.

  15. #85
    RonPaul2008
    RonPaul2008's Avatar SBR PRO
    Join Date: 06-08-07
    Posts: 6,178
    Betpoints: 7332

    Solution? Do you really think they are able to (or want to) pay for the last 3 years but have not done so because they have no method? Don't be so naive. Many people are owed lots of money and have not seen a dime in over 3 years. You should not allow them to take deposits with your platform until they pay their debts. Cascade is nothing but a fraud webpage that they call a sportsbook.

    Quote Originally Posted by Omega Mike View Post
    I appreciate the comment. I have actually closely followed the thread on Cascade payment issues. From our discussions with Cascade this might be an area where Omega can be of some assistance. Time will tell how this plays out and I hope that Omega can be part of the solution for Cascade and anyone that has had difficulty with payments.

  16. #86
    LVHerbie
    LVHerbie's Avatar SBR PRO
    Join Date: 09-15-05
    Posts: 6,222
    Betpoints: 2839

    RP, this a thread from 2007... The person who bumped it above you said he did it by mistake... Regardless your statements are true...

    SBR Bash
    Punta Cana
    Attendee 1/31/2015

    SBR Founder Join Date: 9/15/2005


  17. #87
    RonPaul2008
    RonPaul2008's Avatar SBR PRO
    Join Date: 06-08-07
    Posts: 6,178
    Betpoints: 7332

    Quote Originally Posted by Omega Mike View Post
    Hopefully, that will bring an end to this thread.
    Fail

  18. #88
    VegasGuy
    VegasGuy's Avatar Become A Pro!
    Join Date: 09-02-10
    Posts: 15

    book the bet book the bet book the bet.com if you dont want to get paid you will book the bet .com


    any info on tony block , i want to see him and say hello to him real bad

  19. #89
    Scorpion
    Update your status
    Scorpion's Avatar Become A Pro!
    Join Date: 09-04-05
    Posts: 7,800
    Betpoints: 7870

    Quote Originally Posted by aggie View Post
    this is absolutely fu%$#ng outrageous! anyone with half a brain will avoid omega from now on. unless of course, Mike will pay me my cascade balance. how about it mike? just a simple answer, as you followed specific thread closely!

    SBR Founder Join Date: 9/4/2005


First 123
Top