Why do books transfer with CRIS ?

**HedgeHog** · 11-10-07, 05:32 PM

Couldn't agree more. Cris/Bookmaker charges way too much for transfers.

**Doug** · 11-10-07, 05:38 PM

They should all band together and stop transfers to CRIS, some used to refuse to transfer to Pinny years ago, because it was all outbound... but nothing to do with fees, just better lines overall.

Then maybe CRIS will drop the fees.

**Arilou** · 11-12-07, 01:32 PM

Ironic, because I transfer out of CRIS to SAVE money. You think their transfer fees are bad? Try withdrawing!

**Scorpion** · 11-12-07, 01:38 PM

how much they charge for transferring to Olympic and other books?

**Halifax** · 11-12-07, 02:45 PM

Originally posted by Scorpion

how much they charge for transferring to Olympic and other books?

Last time I checked, it was $100 for a $5K transfer, and $200 for a $10K transfer. I didn't ask for the fees on higher amounts, as I was already sick to my stomach from hearing the above-mentioned fees.

I have no problem with a book passing on the ACTUAL COSTS THAT THEY INCUR for processing a withdrawal, but it really pisses me off when a book (particularly a top-rated book) charges exorbitant fees simply as a tactic to prevent people from withdrawing money (keep in mind that the actual costs incurred by CRIS on a book-to-book transfer are negligible ... maybe 5 minutes of a clerk's time, that's about it).

**Bill Dozer** · 11-12-07, 03:21 PM

Originally posted by Halifax

Last time I checked, it was $100 for a $5K transfer, and $200 for a $10K transfer. I didn't ask for the fees on higher amounts, as I was already sick to my stomach from hearing the above-mentioned fees.

I have no problem with a book passing on the ACTUAL COSTS THAT THEY INCUR for processing a withdrawal, but it really pisses me off when a book (particularly a top-rated book) charges exorbitant fees simply as a tactic to prevent people from withdrawing money (keep in mind that the actual costs incurred by CRIS on a book-to-book transfer are negligible ... maybe 5 minutes of a clerk's time, that's about it).

It's more work than 5 minutes on the phone. One small book like Las Palmas has to settle up with just CRIS while CRIS has to go settle up with every Las Palmas, IAS, etc.

Most players feel good about leaving their money at CRIS and many try to treat them like an eWallet. CRIS has become somewhat of a clearinghouse, helping the money come in to CR books. They do a lot of what Pinnacle used to do between bookmakers/players. If you recall Pinnacle used to charge players on deposits if they used the transfer feature. Players would frequently transfer money in and out for reduced juice promos and things like that. I think CRIS feels they have more to offer and more to lose in the processing department and don't want to be the bank of CR. CRIS probably estimates that in order to get the same miles out of each deposit the fees are needed.

**Halifax** · 11-12-07, 03:33 PM

Originally posted by Bill Dozer

It's more work than 5 minutes on the phone.

Not much ... the majority of time, my b-to-b transfers take 5 minutes or less, once the book actually initiates the process.

Originally posted by Bill Dozer

Most players feel good about leaving their money at CRIS and many try to treat them like an eWallet. CRIS has become somewhat of a clearinghouse, helping the money come in to CR books. They do a lot of what Pinnacle used to do between account holders. Players would frequently transfer money in and out for reduced juice promos and things like that. I think CRIS feels they have the more to offer and more to lose in the processing department and don't want to be the bank of CR

LOL ... maybe if you go back in a time machine a year. No one in their right mind has been using them as a clearinghouse in the last 9 months, unless their main objective is "clearing" out their account balance by being nickel-and-dimed to death in transfer fees.

All in all, it sounds like the type of spin that CRIS would pay a PR firm to pump out in an attempt to paint a pretty picture ... but it's tough to convince people of that, when they're being raped $100/$200/whatever on a non-existent "cost" involved in doing a book-to-book transfer.

And you shouldn't be playing the "processor issues and problems" card here .... we're talking about transfers between sportsbooks, not processing a payment by cheque or bank wire or ** ... big, big difference.

.

**Halifax** · 11-12-07, 03:43 PM

Originally posted by Bill Dozer

It's more work than 5 minutes on the phone. One small book like Las Palmas has to settle up with just CRIS while CRIS has to go settle up with every Las Palmas, IAS, etc.

It's CRIS's prerogative who they do transfers with, so the fact that they do transfers with multiple books shouldn't be a valid defense for exorbitant fees.

Besides, the money flows both ways ... the more books CRIS has transfer agreements with, the more money they have the potential of bringing in. Also, they protect against being used as a so-called clearinghouse by (1) not offering bonuses on incoming transfers, and more importantly (2) applying a rollover to the transfers that come in.

If they're really worried about being used as a clearinghouse, then they should apply a 2x or 3x rollover on incoming transfers, rather than try and gouge successful players on outgoing transfer fees.

**durito** · 11-12-07, 04:05 PM

Originally posted by Bill Dozer

It's more work than 5 minutes on the phone. One small book like Las Palmas has to settle up with just CRIS while CRIS has to go settle up with every Las Palmas, IAS, etc.

Most players feel good about leaving their money at CRIS and many try to treat them like an eWallet. CRIS has become somewhat of a clearinghouse, helping the money come in to CR books. They do a lot of what Pinnacle used to do between bookmakers/players. If you recall Pinnacle used to charge players on deposits if they used the transfer feature. Players would frequently transfer money in and out for reduced juice promos and things like that. I think CRIS feels they have more to offer and more to lose in the processing department and don't want to be the bank of CR. CRIS probably estimates that in order to get the same miles out of each deposit the fees are needed.

How come WSEX/Matchbook and Greek can process unlimited transfers between the two for free in 10 minutes.

**Bill Dozer** · 11-12-07, 05:11 PM

To answer the original question, the other books need CRIS more than CRIS needs them. They do complain that money is only going one way but when you are a Jazz and don't have any processing options you suck it up and say thank you CRIS for helping me pay my player.

Originally posted by Halifax

Not much ... the majority of time, my b-to-b transfers take 5 minutes or less, once the book actually initiates the process.

And the money magically goes through the phone lines? People have to actually settle these amounts.

LOL ... maybe if you go back in a time machine a year. No one in their right mind has been using them as a clearinghouse in the last 9 months, unless their main objective is "clearing" out their account balance by being nickel-and-dimed to death in transfer fees.

Books are settling with CRIS regularly. CRIS doesn’t want to trade money with 20 books who only have to work with one.

All in all, it sounds like the type of spin that CRIS would pay a PR firm to pump out in an attempt to paint a pretty picture ... but it's tough to convince people of that, when they're being raped $100/$200/whatever on a non-existent "cost" involved in doing a book-to-book transfer.

And you shouldn't be playing the "processor issues and problems" card here .... we're talking about transfers between sportsbooks, not processing a payment by cheque or bank wire or ** ... big, big difference.

My apologies if you think my two cents is going to hurt the movement for feeless transfers. I thought we could discuss something from both angles without the BS. I will let you preach next time and just clap and pump my fist.

Actually, I would love for CRIS to say, hey we can make more money by charging less in this area. I think it leaves a bad taste in the consumers mouth when they get an itemized charge that is much more than the perceived seller cost. I don't think a bigger rollover (one already exists) is the answer.

I don't think telling them to not offer it at all because "getting raped" for $100 is just too darn tempting.

Durito,
I could only continue to speculate. Maybe they have similar money coming in and out and they like offering that benefit for players. Maybe they use the same processors/banks. Maybe there is little involved because of a long-standing working relationship.

**Aces** · 11-12-07, 05:24 PM

I'm not happy with CRIS/Bookmaker as well. They get slower and slower with wager grading.

The book to book transfer fee is a $100 fee minimum. Even they can't explain the 7 day hold on your funds all they can say is "Its the Rules".

Try getting through to a CS Manager.

In addition they reserve the right to take up to 7 days to get a moneygram / Western Union payout to you after they've held your funds for 7 days.

CRIS Can do better than this. They are using the US Legislation as a crutch to institute some rules that benefit the house in a big way.

**durito** · 11-12-07, 05:37 PM

Why is it that a big book like Cris has more access to processors than say Jazz?

Isn't the whole issue trying to not get noticed? Everyone knows who BetCris is.

I'm not having any issues here, I'm just wondering.