Originally Posted by
Bill Dozer
Like most books, I don't think it's meant to be a scam out of the gate. I spoke to one of the owners today. They have a detailed plan, flawed as it may be. I think this is like any of the "rookie" books. Different novelty, likely same result. Players who get in fast for the bonus will be able to cashout. I wouldn't play there and even with their booking model aside, it's a place where players should be cautious.
They are operating anonymously in all areas right now and they don't have any references. You can't really blame a book for going the anonymous route these days if they can get players regardless. But, like the other new no-name books, there is nothing for them to lose if they call it a day.
The Pros are that no one should lose their post up. They have small limits and require players to settle weekly so they should be tested regularly if they managed to get some more forum users. The down side of that is if they run into a processing problem and can't pay, everyone who is in the hole says "hey, you weren't going to pay me if I won so I'm not paying you." So, they are out their money and losing all the players who they owe.
They have a $1000 max win for the week. This means that if you win a +1100 bet you are out $100. Doesn't carry over.
The problem with CW and a Blackdog is they don't realize the cost of a stiff. They may expect a modest 25% default rate but if all those players win 50% of the time before they stiff there will be guys that get them for $5500. I think they estimate the cost/stiff to be much lower than they will find out it is. If these books managed to be popular the fraudsters would come out in droves. Each stiff knows 20 others who will say, "oh, I lost my ID."
There is a reason why a good book cancels winnings when a EFT fails or a credit card transaction gets pulled back. They have to assume the money wasn't going to reach them if the player lost.
On paper it's less dangerous than any other no-name place that you have to send money to for a bonus.
My prediction is they have a big chunk of their customers on payment plans and another chunk of players accounts in the stiffed box. They either disappear like most of the others or have to give up the credit-to-all-users deal and will try to take post-up. Maybe they require initial $1 credit card deposits to cut into ID scams and ditch the casino. How many players are going to say, The casino is rigged, I'm not paying.?