BetWWTS Discussion

[cfar1972]

THE FOLLOWING CONTRADICTS NUMEROUS REPORTS:

Please wait while we find an agent to assist you...
You have been connected to Sherry-Ann W.
Sherry-Ann W: Welcome to Live Chat Support, I am your Customer Service Representative, how may I assist you?
Craig Farmer: Hi, Does this sportsbook have the money to pay all accounts without any further stipulations? Will I be paid before any transfer to another company?
Sherry-Ann W: On October 20th Betcorp PLC entered an agreement for Bodog to acquire the Group’s Gaming Operations and Infrastructure. This agreement is subject only to the approval of shareholders of the PLC, and the Company will issue a Notice providing the requisite

21 days notice on Monday the 23rd of October. This will be completed on November the 15th. We will continue to accept deposits and wagers from non-US residents and process withdrawals as normal. The Company can however reassure all customers that their funds are safeguarded and that all their accounts will resume to normal upon approval of the shareholders.
Craig Farmer: Does this mean I can withdraw my money from Betwwts on Nov. 15?
Craig Farmer: I agreed to an account with betwwts not any other company.
Sherry-Ann W: You will be able to access your account and withdraw or continue with us if you wish to do so.
Craig Farmer: How would I be able to continue with you, since you've stopped doing business in the U.S. Is the "US" referring to Bodog or Betwws?
Sherry-Ann W: The decision to continue with us will be yours Craig.
Craig Farmer: I'm just trying to plan, and wondering if I will be able to log onto betwwts and request and get a withdrawal ; or will I have to deal with Bodog or someone else? Who is the "us" if the deal goes through?
Sherry-Ann W: Everything will remain the same except for the Betcorp PLC logos.
Craig Farmer: thanks, have a nice day
Sherry-Ann W: You're welcome.

 

[cfar1972]

Do you live your whole life this paranoid? Take a pill or something.

I'm just enjoying the deconstruction of a business with my money. As well as watching how others deal with it.

 

[cfar1972]

Here's what's in the company statement:


The Purchaser has stated that it intends to invest in developing its own brand into the European and Asian markets utilising the multi-currency shared purse operating platform developed by the Group. The Purchaser has also undertaken not to use any URL, trade mark, brand name or other intellectual property acquired from the Group to provide services to United States residents, following its purchase of the Gaming Operations.



The only way to square these two would be for Bodog to sell Betwwts back to the people running it now as individuals after Nov. 15th.


yet I was told:

Everything will remain the same except for the Betcorp PLC logos.

 

[xpanda]

The way I read that, the "Group" is Betcorp and no logos, URLs, trade marks, etc belonging to Betcorp are to be used by the 'new' BetWWTS. But beyond that BetWWTS is to continue as it was.

But it seems perhaps one of the main reasons Bodog made this purchase was for the software platform and not the brand. So I guess we'll have to wait and see what Bodog's intentions are in respect to BetWWTS and its continued operations. However, given all of this press and Bodog's history, there is no reason whatsoever to presume your funds will not be returned to you, if that is what you wish.

I am also trying to find out what Canadian players at BetWWTS can expect, since Bodog does not take Canadians.

 

[xpanda]

As a caveat to my previous post ... all that I write is speculative. Will do what we can to find out more and clarify the info in the release. We are expecting more information on Monday, and will let everyone know as soon as we hear.

Thanks.

 

[brianb]

Will the book be open Monday or do we have to wait until Nov 15? This situation is bullshit!

 

[bmconsultants]

WTF is it with companies always issuing press releases as worthles PDFs so we have to retype. Assholes.

http://www.betcorp.com.au/Content.asp?MenuID=16&ContentID=6&EntityID=177

Over the last 18 months, the [BetCorp] Group has made good progress in increasing the level of business from countries other than the United States, principally in Europe. This has been achieved by a number of initiatives including the introduction of European facing brands and the development of a proprietary multi-currency operating platform. Despite this progress, however, the US market still represented over 85% of the Group’s revenues in the period from 3 July 2006 to 13 October 2006.
...
The Purchaser [BoDog] has stated that it intends to invest in developing its own brand into the European and Asian markets utilising the multi-currency shared purse operating platform developed by the Group. The Purchaser has also undertaken not to use any URL, trade mark, brand name or other intellectual property acquired from the Group to provide services to United States residents, following its purchase of the Gaming Operations.

So Calvin gets all the US players and also the software to go after Asians and the 5 Europeans not already taken by WillHill and Ladbrokes.

Use of Proceeds and Post Disposal Strategy
The Group will have exited its gaming interests in their entirety, immediately following the Disposal. As a result, the net assets of Betcorp will comprise cash, the deferred consideration payable by the Purchaser and creditors. The Board believes that shareholders’ best interests will be served by the return of funds to them and the Board’s plans for this will be announced as soon as possible. Shares traded on AIM and currently listed on ASX will rank pari passu in any future dividend or distribution, both before and after the de-listing of the Company’s shares from ASX.

Total blood in the streets for the listed companies! The value here for BoDog must be the US customers.

I feel for you guys with money held up there. Can't trust listed companies anymore. Private all the way from now on. Reverse of what it should be...

 

[DarkHorse]

WWTS freezing accounts is in violation of Antigua gaming commision rules. As a respected book they have done greater damage to the industry by this example than any sleaze book ever could.

Honorable places, such as SBR and Covers, have removed WWTS banners. The fact that this forum has not sends a very clear message that it is more interested in advertising monies than in players safety. Thumbs way down.

 

[bulldog77]

Dark Horse. Great post. Could not add a thing!

 

[rrocket]

WTF is it with companies always issuing press releases as worthles PDFs so we have to retype. Assholes.

bm - get a full version of acrobat so you can copy/paste, the reader doesn't allow you to do that but the full version will.

 

[VegasWinner]

CHAT WITH WWTS CS:


ME: good day, I just read all the press releases regarding the sale. My acct is suspended or frozen until Nov 15th then?
Anthony H: that is correct sir
ME: Any chance i could earn some interest at least, say 2-3 percent per month?
Anthony H: unfortunately not
ME: thought so...this is a tough situation no doubt, any ideas on how it will transition to bodog? In other words will i have to take my funds out and open another acct at bodog or will i be able to operate through this site?
Anthony H: we will send you the funds in this account, then you can open a bodog account
ME:: ok...i will be loggin in from time to time to check the acct unti lthen. thank you.

 

[xpanda]

I'm not so sure your WWTS account won't just be rolled into a Bodog account.

At any rate, our account manager at Bodog has been asked to send along instructions for WWTS players ASAP. We will pass along any information as soon as we have it.

Thanks.

 

[bulldog77]

Thnks, Xpanda. But, please change your avitar. That is disgusting and I love animals!

 

[cfar1972]

This "deal" doesn't make any sense if the WWTS cs are telling the truth. They told me also that I would have access to my funds from wwts (in earlier post). As far as I can tell then, Bodog would have paid only for the right to solicit players before a refund from wwts. Or maybe this really isn't a 9 million deal, but a sham enron type deal. If they don't hold our money hostage, what is the deal worth to Bodog?

 

[xpanda]

Proprietary rights to white label software, gaming licenses, and a customer database from multiple sportsbooks.

 

[kahlmyishmael]

Is Ready2bet.com being bought by Bodog? Are they and WWTS the same company?

 

[BostonBettor]

From what I've read ready2bet is/was owned by BetCorp and it is being bought out by BoDog.

 

[xpanda]

Yes.

 

[cfar1972]

Xpanda, I disagree.

From the Betcorp statement, Bodog agreed not to use anything from the sale to offer gambling services to U.S. residents. I'm sure this includes a customer database (intellectual property).

So you're telling me a white label sofware platform is worth paying debt to customers, employees, in addition to millions in cash?

Sounds like an Enron deal.

I hope I get my money out first though.

 

[brianb]

This whole situation sounds as if they want customers to forget about ever getting their $ back. Betwwts could of thought of a better way to handle this! They had enough time to pay back all their customers but instead they froze all accts. Sounds like a stiff job unless you have an acct with bodog!
:finger: