Sportsbook Insurance

[NavsPicks]

With all these books going down all the time with millions of dollars .. Why doesn't someone capitalize on this business idea? Just like car insurance we have assets in these books.. Third party that provides us safety incase some site ever goes under? The prices would obviously be different per month depending on your bet size BUT people that put $200k into books should have no problem buying a monthly insurance. Insurance company will profit in the end because 95% of books don't go down and they can deny whomever they feel like and the consumer will never have to worry about losing his assets .

[Playon]

I'm sure there are insurance companies that would take that deal, if someone just asked for it. But obviously they would offer an insurance to cover Pinnacle and Betfair type of books and were not interested to play with crappy books and Georges at all.

[superhans]

Doubt the US govt would allow it, and it would be unregulated as is the current betting industry

In Europe it would get complicated as each country as differing laws...

Would be good if possible though

[TheGuesser]

I believe that's been tried, or something similar by some of the Sports Forums(Major Wager, TOW?). Problem is, when Books actually fold, and Forum has to actually pay, there were lots of discrepancies, fraud, etc.

[combination lock]

This is a very interesting topic

The industry needs this

Another interesting aspect of this that I'm surprised doesn't get discussed ( cuz i guess we're all just losers anyways ) is what if you build up a nice roll after a few years... say 50k total in 4-5 different books and you go out and get hit by a car?

Wouldn't you want your family to retrieve that money? The way things seem to be now, I dont see how anyone in your family could get it. Books would be claiming account fraud or something I would imagine. So i guess it all just gets zeroed out by people named Jose Manuel Rivera Cruz after a few years of inactivity huh?

There should be a process to claim such funds. I think a 3rd party could help with that....

[Hareeba!]

Just no way it could be done.

[Hareeba!]

Another interesting aspect of this that I'm surprised doesn't get discussed ( cuz i guess we're all just losers anyways ) is what if you build up a nice roll after a few years... say 50k total in 4-5 different books and you go out and get hit by a car?

Wouldn't you want your family to retrieve that money? The way things seem to be now, I dont see how anyone in your family could get it. Books would be claiming account fraud or something I would imagine. So i guess it all just gets zeroed out by people named Jose Manuel Rivera Cruz after a few years of inactivity huh?

There should be a process to claim such funds. I think a 3rd party could help with that....

My family have access to a file containing all my account details and would be able to log in and request withdrawals.