After being a spectator for a few days of this situation I wanted to add some input to this mess I am one of the managers at one of the sportsbooks that Betislands was approached by for a bailout and after reading some of the posts here I wanted to add my 2 cents as someone who saw their books and understood the situation.
Despite of the some of the comments that you read on here Betislands in fact did have actual financial backing " old school credit guy " this is why players for 2 years got paid with any sort of problems. If this would have been a " scam " they would have closed shop long ago fact is this book was running on a negative balance sheet for a while now and payouts were being made out of the bankers pocket.
Betislands would have continued dishing out payments if the financial backer would not have been arrested.
There was no money to steal because Betislands had paid more out then what they took in deposits.
Sharp players had their way with this brand and most of them came from this very website , syndicate groups , bonus whoring this is why my boss turned down the book. And that is why most sportsbook owners hate SBR.
SBR had a nice piece of the losses when they came though up to 25% If I am not mistaken , granted this website is a business just like any other but denying the fact that SBR profited from this would be a lie.
No BAILOUT is coming , this book was brouight to the door of most of the larger companies and actually almost begged for someone to pick it up just to get a NO.
In a nutshell Betislands was never intended to be a stiff job they paid people for 2 seasons and I would on ocassion read that some players thought an A rating would be more suitable for this book after getting paid .... fact is the main owner / bank got busted and the funding stopped since he was the only one with any sort of bank behind him it is not the first time this happens nor will it be the last. Uncle Sam is getting his way the last few years.
SBR..
Betonline an A ?? Cmon save face SBR these rating need to improve there are much better and safer C shops than some of the B sportsbooks.
Dont send players to another rabbit hole.
This may be my last post here if I am not allowed to post again my post has no other intention but to inform players that were affected by this situation on what really happend and to wish them the best of luck.
Any and all of this info can be confirmed by most people in the know and in the sportsbook industry.
If I have anymore info I will share it with this forum community.
Despite of the some of the comments that you read on here Betislands in fact did have actual financial backing " old school credit guy " this is why players for 2 years got paid with any sort of problems. If this would have been a " scam " they would have closed shop long ago fact is this book was running on a negative balance sheet for a while now and payouts were being made out of the bankers pocket.
Betislands would have continued dishing out payments if the financial backer would not have been arrested.
There was no money to steal because Betislands had paid more out then what they took in deposits.
Sharp players had their way with this brand and most of them came from this very website , syndicate groups , bonus whoring this is why my boss turned down the book. And that is why most sportsbook owners hate SBR.
SBR had a nice piece of the losses when they came though up to 25% If I am not mistaken , granted this website is a business just like any other but denying the fact that SBR profited from this would be a lie.
No BAILOUT is coming , this book was brouight to the door of most of the larger companies and actually almost begged for someone to pick it up just to get a NO.
In a nutshell Betislands was never intended to be a stiff job they paid people for 2 seasons and I would on ocassion read that some players thought an A rating would be more suitable for this book after getting paid .... fact is the main owner / bank got busted and the funding stopped since he was the only one with any sort of bank behind him it is not the first time this happens nor will it be the last. Uncle Sam is getting his way the last few years.
SBR..
Betonline an A ?? Cmon save face SBR these rating need to improve there are much better and safer C shops than some of the B sportsbooks.
Dont send players to another rabbit hole.
This may be my last post here if I am not allowed to post again my post has no other intention but to inform players that were affected by this situation on what really happend and to wish them the best of luck.
Any and all of this info can be confirmed by most people in the know and in the sportsbook industry.
If I have anymore info I will share it with this forum community.
.........I had heard they had some affiliation but never gave two shits until now but a few months I was able to login to BI with my Playcr.. so its making me think.
good movie this would make
