For those of you like myself who had a lot of money at bi there is still hope for a bailout. Sbr holds the key to open this door for its players as they can partner with a book or several books to reduce their advertising rates and affiliate commission structures in exchange for a bailout to bi players. I know the next 4 post are going to be people telling me to give up hope and there is no chance but take a second to think about what sbr is telling its members if no bailout is reached. Beside the obvious fact that advertising a book, publicly guaranteeing player funds were safe and then not telling anyone the book was going under when they knew weeks in advance of its inability to pay and then asking for a 20% cut in any bailout deal, beside those facts if sbr wont do anything to help its players than they know their future business is in trouble and the entire offshore industry is going to collapse. I am already in the process of pulling all my money out which will take months with the restrictions most places have but no place is safe, sbr knows their is no future or why else make a short sighted business decision to not only lie, cheat, and steal, then kick off posters who have been with you for years, have your sharpest moderator and player advocate quit because of the lies and then just keep lying and hope it all goes away, all while putting a big bullseye on your back for any crazy, psycho bi customer who lost their funds because of sbr, makes no sense to me but we still have not gotten any explanation from sbr about bi, why justin7 quit and it continues to be a situation that could deteriorate even further very quickly when people find out 100% there money is gone.
-
-
well said, alot of good points that need answers.Comment -
As much as I would like to think there is a chance of something happening, I just don't see it. Do you think John and Dozier are going to wake up one morning, take a morality pill, and suddenly act like honest people would? Not only are they not offering to cut their affiliate take, they were looking to make money off this fiasco. That should tell you everything you need to know.Comment -
If there was a future for offshore, I'd say you have hope. But the industry is almost dead, and everyone is now on one last cash grab, including SBR. We are all screwed, my friend. SBR isn't going to help. No other book wants the liability. You need to accept that, and move on.Comment -
The opportunity seems present, but the appropriate people not so much
Correct me if im wrong just thinking off the top of my head.....
But all these dam SBR report videos and not one on Bet Islands? The communication between a so called "watchdog site" and keeping players informed in a timely honest matter is ridiculous. I understand some things may have been done behind the scenes that i have not been exposed to, but dam SBR be a watch dog and inform!
but what i hear from posters on here and from a solid source, Jon from BI and top people at SBR were good personel friends. I guess people will protect their friends even at the expense of others people money
.
Money talks.......and bull sh*t walks.......Comment -
+1
Exactly the situation today...the easy money is gone, the US government is intent on closing the US facing shops and in the process, leaving Americans with only scanners to take their bets.
Give up, move to known shops for bases and leave the bonus giving shops behind..your weeks away from the slowest 5 months in gambling, NO shop would be stupid enough to give free money bailouts to those effected with only bases on the board many days. Shops hate bases to start, and sure wont give you free money to beat them with nowComment -
Are bailouts liability? Or are they opportunity? I for one would put up 50% of my balance with a monster rollover and no withdrawels for 90 days if a solid book stepped forward. Myself, I am a net loser in sports for many years. If I am atypical of the average sports bettor, a bailout helps both the sportsbook as well as give the average joe like myself faith in this industry and a fighting chance.
I really have no idea how much a sportsbook makes off every $100 wagered, if they are charging 8% juice, after expenses, I would have to hazard a guess 3-4%. If a book offered a bailout now, assuming everyone took the offer, they would receive $750, 000 in cash reserves coming into a slow part of the season. What book wouldn't want that?
Assuming a 25x rollover, 4% roi for every dollar wagered and 750, 000 in cash and 1.5m in liability in a bailout, theoretically a sportsbook would receive $56, 250, 000 in action before a withdrawel is made. What sportsbook wouldn't want that? If i was a sportsbook, can I make money off 56m extra in action? I better hope so. If we assume a 4% roi on every dollar, guess what? The sportsbook makes 2.25m, enough to cover the 1.5m in liability and ensure 750k in profit.
Then we take the other benefits that come from a bailout. Any bailout will take a book that is lingering below the radar into the stratosphere. We have seen what a forum like SBR can do to generate and create business for a book. If I was a book, my imagination would just be going rampant on taking me from nowhere to getting an extra 56m in business plus all the extra publicity and customers I would get by bailing out BI.
Cons, I have kept abreast of the threads in here and it sounds from reading posts from people in the know, there must be legal implications as well from helping out US facing book. However, if you are already an existing book facing the US, I am sure they already have a handle on it and its just a cost of doing business.
Comment -
I share many of these same thoughts.
C'mon sbr! You guys need to dig deep here and try to make things right!
A few thoughts I have on a bailout are is one I dont think one is going to happen and I believe its because the way sbr has been acting in this whole situation. I do think one could have been obtained with some negotiation and leveraging by sbr to work out a deal for players but decided not to go that route for whatever reason.
There has been a lot of argument from both sides on if a bailout makes biz sense or not and i dont think its as so cut and dry as people on both sides think. Yes it would be risky to take that much debt so ya you would need to have players deposit for one and I think that in itself would weed out quite a bit of the 1.5 debt. Not everyone will step up and claim everything if they have to deposit. I myself have kind of had enough with everything and not so sure I would jump full force to deposit 25% to claim everything just because Im getting tired of all the b.s. And maybe they get lucky on some of the bigger balances as they might not be thrilled about depositing either.
The other thing I find real interesting is all the guys on here who keep defending the industry keep saying the same things over and over again about certain books "stick with bookmaker, 5dimes and heritage and you'll be just fine" i cant count how many times i've seen that line posted over the last few weeks but I tell you what if I was management at Legends, bovada and maybe even justbet i would be a little put off by those constant remarks and think okay ya maybe we have been vanilla here for quite sometime and maybe we need to make a big splash and grab some attention as a industry leader and pick up the pieces left from a scam book and BOO YA it happens...... boom that book is now listed in that same sentence for many years...... tell me that is not a good payoff?Comment -
What I find interesting is that despite these allegations SBR isn't even attempting to defend themselves. Usually guilty people don't speak because they are afraid to incriminate themselves. Any lawyer will tell you to shut your mouth if you are guilty. If you are innocent it's easy to speak, because you aren't going to get caught in a lie, because it's the truth. The silence is deafening. First JJGOLD, then Justin7 leaving. I am personally afraid that SBR has all of my info and what they will do with it. They are not to be trusted. It's getting a little suspicious. This isn't the first SBR sponsor to go bust. I would venture a guess that D rated books in their ratings guide have a better payout record then their A books.
I don't think you are getting your money back. My gut tells me that SBR is highly "involved" in most of these books that go bust. Especially the ones located up the road from them. The industry has figured this out, and is not interested in bailing out BetIslands/SBR. Just my gut. Good luck getting your money, but I have a feeling Dozer is doing a line of Coke with Jon with your money right now.Comment -
Not a opportunity at all. Assuming this debt with the potential to be shut down in months or a couple of years means you would risk everything you would put into it, plus more. It just isn't a good time to take it on. No book is going to risk it, that plans to be legit and cater to US customers. It just isn't good business sense.Comment -
-
If it made any sense for a decent book to offer a bailout they wouldve done it in the past month...BetIslands was a small dump scambook with nothing but customers that already play at all the top books since they were all SBR referrals.
Top books dont just decide to give away a million+ to "help out" their customers...the books are in business to separate you from your money not give away millions to customers they already have. If 95% of the customers didnt already have accounts they might have done something to get new customers but who the penetrate wants to just give away a fortune to customers they already have....it would be beyond stupid
For penetrates sakes 10 of these guys were owed a million of the 1.5 million...these are the 2% of gamblers that the books are showing the door not giving them a free million to bust them...GET REALLast edited by bettilimbroke999; 01-15-13, 09:05 PM.Comment -
I don't think it's as cut and dry as saying people who played at BI already have accounts at major books. Most people who were playing at BI, with -108 and free half points, were placing the majority of their action there. At least I was. The question is where to go next. I have accounts at every A rated book. But I ain't going to start playing at all of them. I'm going to start playing at the one who helps out.
And if nobody helps out, I am sure as hell am not going to be playing at ANY book that flies a banner on this site. NO FUGGIN WAY EVER.Comment -
No book youve already got an account at is interested in just giving you free money to play with them again, you tried them out and apparently didnt like what they offered. If they wanted to then Bookmaker and books that I dont play at anymore could put some cash in my account anytime and I would be more than happy to play there again....unfortunately hell will freeze over firstComment -
Wow, horrible to hear you guys didnt end up getting any resolution. I see this issue is quickly losing momentum in the forum. Does anyone know these bastards real names ? Real personal info? Real contact info? The more I read the more I see how scummy this industry is. I see so many people making threats on this forum, really dumb thing to do despite your frustrations. No one believes any threats to go to costa rica anyway. I am sure most guys are just so so frustrated about being robbed, some for life altering money. I WISH those guys that robbed you would be hurt, I just hope it happens naturally.
Why not attempt LEGAL ways of doing these people harm? I can assure you some if not all of their family friends and neighbors and colleagues do not know what scummy thieves they are. It is perfectly legal to tell these people, and it will cause these people harm in many ways.
Will it get your money back ? No more then likely not.
Will it have a more damaging affect to these lowlifes then random internet threats? YES 100%
Is it legal? Yes as long as what you say is true.
The question is who has the names and info of these vermin and is willing to give it up?Comment -
I still have some faith in the industry and by posts by touchback that something will get done. You guys are so negative, sound like my gf.Comment -
Agree 100%. Just do anything to make their life as miserable as they have made the people they screwed. If we cannot be made whole with the money stolen from us, find justice in a way that brings you some peace. But DO NOT just let it go. Find some justice, some how. Even if it is only calling every sportsbook you ever signed up with through this site and ending your affiliation, or never depositing there again. Even if you can't strangle that little tatooted punk, make sure that everyone who had a role in this feels it.
Do not lay down and take this shit. And do not let this cause die.Comment -
If I understand you correctly, that's my point. Bonus shopping and reduced juice is nice, but if the book doesn't have proper risk management, they'll end up right alongside BI. None of the big name books came through with bailouts because they didn't see it as being financially responsible. And if Cris, 5dimes, legends, and heritage are all unwilling, it probably means that any book that does take on the debt is making a mistake (from a financial perspective), and is a riskier bet then one of the big names.Comment -
As to the question are bailouts an oppurtunity, yes...but only for the players...solid books gain nothing from this.
5d-heritage, ect. Already have your info, and probably already have had your money before...this isn't 1995 and there aren't 200+ US facing books chasing business. If they give you a free shot at their money, will you suddenly become loyal and gamble more...no, you'll play with them for the same damn reason people used AT&T for their home phone for years...they were the only choice! It was them or no phone...of course you want to bet on sports and be paid, so you must seek them out.
A no name shop could gain goodwill doing this, but the volume would crush them...like I said, its the slow season gentleman...and they could easily get crushed by 50 bailouts with only half cashing out.Comment -
-
you guys are wrong, ofcourse books have something to lose/gain here, and its faith
as it stands many people including myself are avoiding depositing in costa rican books, some because they dont trust costa rican books anymore(which they shouldnt) some out of spite/anger over BI and sbrs handling of the case and some just to prove a point, that they cannot steal from them and expect to keep their business
if books want to improve the climate of mistrust that was created by BI and SBR they need to step up and prove that the industry is not wrotten and out to make a quick buck, with a bailout they will make a statement that a)they care about the players and b) that the players money are safe
obviously this is not true, they dont care about the players and the players money are not safe but this is how business works, they need to make a gesture of goodwill towards disgruntled playersComment -
Mushroom, if you are avoiding depositing in Costa Rica books, would you deposit 50% of your BI balance in one as part of a bailout, just curious if you think a gesture of goodwill means you think the book will last, or if you'd be worried about getting scammed again?Comment -
Exactly posts about how "negative" we're being are retarded...everyone here would like it if a decent book (theres not many left but lets say a heritage or bookmaker or 5dimes) were to step up and bail the players out but they've all had a look at the books and said hell no....I mean its not negativity its just reality.
There is absolutely zero chance of a decent book offering a bailout at this point. What the penetrate do you expect to happen 5dimes just suddenly change their mind and put 1.5 million in players accounts that they already have? Youll have a better chance finding 1.5 mil buried in your backyardComment -
Im not tryiin to be a jackass but BetIslands was about as much of a real sportsbook (like Bookmaker or 5Dimes) as I am the CEO of Walmart
You were scammed by a tattooed freak wannabe bookie with lint in his pockets. Ppl deposited bc they offered everything under the sun and didnt limit anybody and of course sharp bettors ran it up BetIslands ass with no mercy. That tattooed freak couldnt cover a 100 a game bettor going on a hot run and he was letting sharps bet thousands a game with free half points on both sides and 110% bonuses
Its a miracle that dump was able to keep the doors open for a year....I guess SBRs constant reassurance and shilling kept enough new deposits coming in for awhileComment -
I agree, the bailout should be without restrictions or conditions
a group of books should get together and share the cost of giving players their money back
if you get the top books, 5dimes, bookmaker, bovada, dsi, heritage, legends, thats 250,000 each in player funds, they put a rollover on it which will guarantee that many will not cash out, and with minimal funds they can restore credibitily
ofcourse people will deposit after that, if they know that their funds are guaranteed by the books, that in the case of a collapse the rest will step in, in my opinion trust will be restored
and yes just like people now are not depositing because they are angry over BI, with a good bailout they will give more business to the books out of gratitude, if people trust that their money is safe they will not hesitate sending money offshoreComment -
Where are the real gamblers...so betislands stole your money...get back in and make some money....a guy in Ohio won 36,000 playing blackjack one night....he go home and get robbed at gunpoint....instead of him crying and bitching, he goes back to casino and get it back. Where the real gamblers at?Comment -
dude I didnt have money in BI, Im not the brightest bulb in the box but Im smart enough to recognize a scambook
yes people should have been weiry in this day and age were their's two scams and a sucker born every minute, offering both high bonuses and low juice is not sustainable for a sportsbook
you think there arent signs about the other costa rican books?
every other day there is a new thread about 5dimes free rolling a player!!! red flag, its obvious they need to resort to alternative tactics to stay afloat
heritage taking down poker? if that is not a sign then what is? and what about declining customer service, may I remind you that one of the issues leading up to BIs closing was their increasingly horrible CS. It could be a sign they cannot afford to hire enough people to cover their needsComment
