Without thread-surfing, where can I read about the current sportsbook crisis?

[Capybara]

Like I mean the whole overarching story... I want to educate myself about this... I haven't been playing lately (gearing up for football season) so this is all kind of news to me.

I'm sure some of you read a lot of coverage on the gambling industry, so where is this all covered in a comprehensive, well-written way?

Thanks, bruthas.

[WolfpackChuck]

You can start at your local library.

[Capybara]

You can start at your local library.

[4TH AND STUPID]

You can start at your local library.

this post deserves a "thumbs down" feature for 10/10 in uselessness

[4TH AND STUPID]

Like I mean the whole overarching story... I want to educate myself about this... I haven't been playing lately (gearing up for football season) so this is all kind of news to me.

I'm sure some of you read a lot of coverage on the gambling industry, so where is this all covered in a comprehensive, well-written way?

Thanks, bruthas.

id answer your question but i dont really know myself. i dont use betjam.. only use Bet365 and bodog so i havn't really paid attention to all this stuff but long story short it seems the u.s gov't is crackin down on gambling.

hope somebody answers your post cause i would like to know what (in detail) is going on as well.

[Capybara]

id answer your question but i dont really know myself. i dont use betjam.. only use Bet365 and bodog so i havn't really paid attention to all this stuff but long story short it seems the u.s gov't is crackin down on gambling.

hope somebody answers your post cause i would like to know what (in detail) is going on as well.

Thanks for chiming in, 4th. Yeah, I really would like to see an all-encompassing article somewhere so I'm not just trying to piece stuff together through 72 SBR threads.

SIA seems to still be working (I use it because my money gets there in like one second when I want to wager, and it's great for dogs of course)... and BetDSI seems to work but is now with an "eu" extension, must be diverting through Europe.

[topgame85]

Feds shut a few sites down and since several have pulled out of the US market. Greek/betjam closed and transferred accounts to heritage. Bad day for the industry buyer beware.

[Djstucky]

I haven't stumbled across a great read like you are asking for. I have been looking myself. Granted there are articles out there on web but nothing that covers all basis in depth. SBR posters offer a lot of knowledge but you have to read thread after thread and run into idiots like wolfpackchuck suggesting the library. It's probably safe to say an article that would provide our answers isn't going to surface due to the goverments involvement. They want to keep everyone in the dark until a move has been made. Sorry this doesn't help much but again I haven't found one factual based resource that covers this subject. Most everyone is just guessing.

[SportsMushroom]

what basically happened was the greek withdrew from the US market and transfered all US balances to heritage, and betjamaica closed down altogether and transfered all outstanding balances to Heritage

from what I understand, the greek and betjamaica had the same ownership, so most likely, since they were pulling out of the US market, they saw no use in keeping both books open

obviously talks must have been going on for a while between greek/betjam and heritage for the transfer of the balances and people are upset as to why the customers were not notified. the transfer happened overnight

greek/betjam made a conscious decision to withdraw from the US market, the move was probably preemptive, they dont want to deal with the US government down the road

[Capybara]

what basically happened was the greek withdrew from the US market and transfered all US balances to heritage, and betjamaica closed down altogether and transfered all outstanding balances to Heritage

from what I understand, the greek and betjamaica had the same ownership, so most likely, since they were pulling out of the US market, they saw no use in keeping both books open

obviously talks must have been going on for a while between greek/betjam and heritage for the transfer of the balances and people are upset as to why the customers were not notified. the transfer happened overnight

greek/betjam made a conscious decision to withdraw from the US market, the move was probably preemptive, they dont want to deal with the US government down the road

That's great, thanks for the update, but I even meant beyond the greek and betjam -- there's been many more books changing things or going down and I was hoping to get a comprehensive synopsis of the industry...

And thanks for your post as well, stucky. Yeah, it's going to be tough to find I guess.

[Djstucky]

Not a problem...I will update ya if I find anything going forward...

[Ra77er]

I'll try to help sum it all up for ya: DOJ is hoganating the gambling industry.

[rm18]

A bunch of books got domains seized boomaker, dsi, true poker, beted etc. Beted stiffed everyone the other are business as usual but with volume down a little because people are scared.

[Capybara]

Maybe this thread can become the comprehensive report that I'm looking for, if enough posters with knowledge of what's happening nationally and globally report in and tell us what they know! But what's coming down the road is really the nugget we're all looking for I suppose.

[SportsMushroom]

well capy, no one knows whats going on, only the people behind the scenes (sportsbooks, probably sbr) know

the proof is what happened with the greek/betjam, no one even had a clue until after the deal went through, it is in their best interest to keep assuring people that they are not planning to leave the US market, if they let people know otherwise, they will lose a lot of money from people withdrawing their funds and people not depositing anymore

[xstud]

To be honest right now you have to look at the whole picture. The DOJ has the laws in place to go after payment processors because certain books/individuals did business with an undercover processor operated by the MD DOJ (I believe MD was the state), they operated for over 1.5 years and processed millions in transactions for various books/poker sites... fast forward to the present time. Investigation is over.. money seized.. processors dropping like flies and books starting to weigh their options "Risk vs Reward". The U.S. is a lucrative market but is it worth being on the run for the rest of your life? Having to change processors every few weeks/months? It is entirely possible that some of the upper management/owners for these books just had enough of the cat and mouse game.

If you want true factual reading... search "Black Friday internet poker" on google and also just do a search about "BetEd Domain Seizures" and you will receive more information related to this nonsense.

Where the market is now is quite simple... if you send a nickel or a dime overseas.. you have to realize there is a greater chance than ever of not seeing that money again. Books will always be around and there will always be a way to send and receive money... it may just get to the point where the $55.00 fee for checks may turn into $110.00 fee's and the best line you are able to get is -115... it's the nature of this industry.

[Capybara]

To be honest right now you have to look at the whole picture. The DOJ has the laws in place to go after payment processors because certain books/individuals did business with an undercover processor operated by the MD DOJ (I believe MD was the state), they operated for over 1.5 years and processed millions in transactions for various books/poker sites... fast forward to the present time. Investigation is over.. money seized.. processors dropping like flies and books starting to weigh their options "Risk vs Reward". The U.S. is a lucrative market but is it worth being on the run for the rest of your life? Having to change processors every few weeks/months? It is entirely possible that some of the upper management/owners for these books just had enough of the cat and mouse game.

If you want true factual reading... search "Black Friday internet poker" on google and also just do a search about "BetEd Domain Seizures" and you will receive more information related to this nonsense.

Where the market is now is quite simple... if you send a nickel or a dime overseas.. you have to realize there is a greater chance than ever of not seeing that money again. Books will always be around and there will always be a way to send and receive money... it may just get to the point where the $55.00 fee for checks may turn into $110.00 fee's and the best line you are able to get is -115... it's the nature of this industry.

Great post, xstud, thanks.

Which do you think are the safest/securest/least likely to get fukked at any moment 'books at present for U.S. residents?

[donkdown]

therx were else??

[Capybara]

Anyone see any articles or good blog posts yet?

[gregm]

I am not sure where you are wanting to start at but you certainly arent going to learn much from players talk. Here are some good articles and I am going back in the chronology of events.

The most important articles are on the legislation in Washington but few people read these, mainly players talk is about the stuff about books pulling out of the US.

Bodog leaving us market, basically a name change from bodog and MMGG taking over

http://calvinayre.com/2011/07/26/business/bodog-brand-to-leave-us-market/

The barton Bill in congress

http://www.egrmagazine.com/news/1680982/news-in-brief-six-new-cosponsors-for-barton-bill-french-sports-betting-down-one-third.thtml

Good article on online gaming legislation

http://www.compatiblepoker.com/poker-rumors/opposing-us-politicians-seek-online-gambling-clarification/4971

Great article this month about Jay Rockefeller on online gaming legalization and reducing deficit

http://techdailydose.nationaljournal.com/2011/07/rockefeller-betting-online-gam.php

Online gambling in DC

http://www.osga.com/artman/publish/article_9287.shtml

Betjam and the greek

http://www.sportsbookreview.com/NewsWire/4990/betjamaica-close-today-thegreek-no-longer-booking-us-players.aspx

Heritage letter to new clients

http://www.sportsbookreview.com/NewsWire/4991/heritage-sportsbook-letter-new-betjamaica-thegreek-players.aspx

Vip closing

http://www.osga.com/artman/publish/article_9315.shtml

egr thoughts on black friday

http://www.egrmagazine.com/blog/1664962/four-thoughts-on-black-friday.thtml

[Capybara]

Wow, thanks Greg, I will go through these as soon as I have a chance. Nice one, bro!

[gregm]

No problem Capy, read the political ones too. Alot of people on the boards are very negative about these pullouts of books but don't really have any idea of whats happening in the legislative world to legalize online gambling in the US