[touchback]

You know, I feel bad for all you guys that just got stiffed... but lets really take a look at this. Reminds me of the Savings and Loan crap in the early eighties. People wanted a few extra points return so put their savings in non FDIC backed banks and they all got burned too. This is similar, BI was high risk but offered big perks over and over. They were running 250k in the red last April which had been mentioned at one point and the poster was run off by guys that just donīt know... that aint exactly terrible except BI was really only a skin with no infrastructure. Just a brand with a few sales-csd employees. The platform, the network yadayada yada was not owned by them and everyone knew this. It was a good service, polite, fast payouts and big bonuses catering to almost all action. A completely unsustainable model... no assets to leverage if they got in trouble, free points, repeated 100% bonusīs, free payouts... this just goes on and on as well as add a focus group they marketed too that everyone knows has a high % of wise action.
I would say beyond a doubt there is no 1.5 mil bag of money anywhere... after a certain amount of time it just became a Peter paying Paul situation. Absolutely, no one involved could of said anything sooner for fear of a run on the service and it then being impossible to work a bailout. Even those not involved but in the know could not just come out and say anything for the same fears and of course a business respect.
Jon is a salesman first and foremost... I have seen and heard salesman in many areas and businesses claim to be the frickn queen of England to close a sale, so it is what it is. They sell... I have no idea if the guy has 20 bucks or 20k after this collapse but many should of seen this coming. It is questionable that they still took deposits as long as they did after they could not get new backing but the outcome would still be the same now or 45 days ago.
About SBR, well... I will comment on Justin 7. I believe this guy has done more good overall for players over the years and either way you see it he is in a tough spot. If he knew 30 days ago he would of known of the attempted bailout as well so would not say anything so not to screw it as well as having to respect the industry bigwigs that are basically his employers. On the other hand, Justin does not know everything but I have always respected his stance and or position in the business. I guess only Justin really knows what Justin knows, i would not jump to any conclusions about him just yet. I donīt believe in any collusion so implied that was from the beginning of the branding and marketing of BetIslands, they just got their back broken. No one is going to Costa Rica or do anything else highly questionable because they are pissed. This shit happens with unsustainable practices in unregulated markets.
People have posted some very accurate information that should have warned players not to make more deposits over the months but many chose to ignore them or they just did not understand the dynamics of this business. Again, I am sorry to see anyone get screwed but the writing was on the wall long ago. Hell, Jon even sent me an email this summer asking for a deposit... out of respect I ignored it instead of ramming all the sharp numbers I have access too up his ass. This has happened to other services, Bet911 just being one of many... with the same doomed business practices.
So I say this, use known services that have been branded out for 5 years or more and have infrastructure. Be wary, of what is clearly obvious to everyone now, services that are run in a manner that cannot be sustained. You want to send a dime or nickel then just send a dime or nickel and pull out the second you feel like it. I would also not keep a large balance at any service other than maybe what I could count on my ten fingers in the international market. You all know which ones I mean... I am not trying to pimp any of them. I hope some of you guys get helped out... peace.

[Triumph]

Bet 911 was always rated F, Betislands was pushed as a top book, thats the big difference

[Speedy88]

Is rather not read your multi paragraph write-up. Just going to assume your post is like everyone else's, BI and Jon are a bunch of thieves.

[austin]

Bet 911 was always rated F, Betislands was pushed as a top book, thats the big difference

bet911 was C. and both bi and b911 were profitable. trick is not to be last in line when it's time to exit

[touchback]

Right Austin... Bet911 had a higher rating and was downgraded to F when they got broken.

Speedy88, no problem... I understand, alot of people are pissed and venting.

Seen alot of numbers thrown around today so might as well add my 2 cents. If your carrying 1.5 mil on the the books and no reserve and 600k plus is sharp action with about 300 to 400 active customers then the amount of wiseguys accounting for the sharp action is between 10% and 30%. Considering the marketed focus group and the heavily documented amount of processed payouts I would say the sharp % would be on the higher end of the scale for the time of year... so out of the 300 to 400 it would be, and this is a broad window because I have not heard the exact number but it is between 50 and 100 active guys responsible for sharp action and the rest squares on the BI sheet. Some of you wonīt understand the math behind this and some will... I will let someone else break it down more if they want. Next... 300 to 400 customers is nothing when most people have these big A and B services in the thinking, but keep in mind the over 300 services operating out of CR and most of them are tiny with a 100 or less customers. They have strict exposure control and most of them you never heard of. The big boys are carrying upwards of 5k to 10k or even more for a few of them active customers at peek season but this does not mean they are all postup. Many big shops are just writing for alot of onshore guys and charging service fees. This is good because service fees are clear and just go to the bottom line and can easily be rerouted onshore to cover postup when there is a bad run of a few weeks or month or 2... there is easily dozens of other dynamics behind this. Processor fees and losses as well as internal and external fraud... lots of smoke and mirrors and it would be hard to figure what is what at any particular big shop without a forensic audit and even then a large percentage of revenue would be unaccounted for. Anyway, I am done for now.... some dislike my long winded posts.

[Stack-N-Chips]

http://www.sportsbookreview.com/forum/sportsbook...l-related.html

[gangeriver]

suprising... nobody remember betcascade, if I'm not wrong it was A- previously...

[wrongturn]

touchback, your posts are very useful. Keep posting.

[Scooter]

Paragraphs.

[Triumph]

I remember the most classic excuse from Bet911 to avoid paying me, the payout clerk said she couldn't go down stairs to cross the street because of a protest going on in the street.