<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Originally posted by casinghand:
Mr. Shrink,
I am a new poster and have a question. I hope you don't think it is stupid.
How can new sportsbooks open and be highly supported by the premier watchdog site and then close thereafter taking all of the bettor's money? <HR></BLOCKQUOTE>
Most sports books don't start out with the intention of stealing from the players...
Unfortunately, lack of capitalization, poor management and greed are usually the factors contributing to a sports books demise...
Although we visit with the vast majority of them, there is no way of predicting with 100% certainty that a sports book will fail...
In the case of Pan Am, which I believe you may be referring to, I knew several of the main guys behind this place, and they had done a good job while woking elsewhere.
Since there is no real regulation in this industry, I suspect it can and will happen again...
The best way for gamblers to avoid becoming a victim is to read these forums carefully and hear what others are saying...
Although far from perfect, it's the best we have to offer...
Lastly, as a rule, one should always start out SLOW and tread very carefully with a new sports book...
I was very impressed with Pan Am, very enthused, and unfortunately, I was misled by them...
For that, I am sorry...
THE SHRINK