It seems Bodog's obvious rapidly rising influence on the industry is now too obvious to ignore by anyone.
Here is a bit of fact to counter the memes out their floating around that are just plain factually incorrect and are being propagated by guys who don't even know them.
Peep is the funniest one betting Bodog is going to be out of business in April, and this from a self proclaimed industry authority.
eBanx.....I don't believe Bodog actually has a position on this vis a vis ownership, they only maintain that its a separate company, which it is and has to be for legal reasons, than the gaming company. This is mandated by the credit card processing rules, even how its explained on the site is mandated by them. Bodog even has referred to its eBanx DBT product as proprietary in their marketing, not something that they would do if they had some big plan to deceive everyone on their involvement.
Cole Turner was the one that conceived this payment method and this is well known. In my opinion, this is an entirely fabricated issue to try to take a shot at one of the industry's leading payment system since no one has been able to replicate it yet.
Mayan....simple one, Bodog has a contract that shows it never did anything wrong there and they are still in business and still using the logo Bodog designed for them.
http://sportsbook.mayancasino.com/servlet/sportsbook.user?Page=Index
sports911....Bodog is not an owner, nor even the biggest advertiser. They are the industries most prolific content generators and they get along well with Chris, who is smart enough to know that the people behind Bodog are winners and that he is going to be seen to have good judgement as Bodog becomes more commonly known as the powerhouse it is destined to be. (Russ even agrees with him on this one now).
Swiss Account...$7 plus Million and climbing, player balances $4.8 M as of today. They also have another $3 plus million in operating cash in other international accounts ($10.6 M in total cash as of last week) and have 0 debt and are very profitable.
Bodog paid out its advertising for the year in this past months profits and are one of only a couple of books that do have player balances in a segregated account. Nobody is making the money they are this year! On a related note Bodog is also very large, they have done over half a billion in combined sports and casino handle since the start of Aug this year...Bodog is significantly over a $billion handle company on and annualized basis, and still growing at triple digit rates, this puts them in an elite group in our industry.
Stock Fraud....that is a criminal offense, Cole Turner has no criminal record. He was found guilty of a number of mostly dry violations of the BC Securities Act from a project he got involved with in his first year out of University back in the late 1980's. Cole Turner settled this in the mid 1990's and this is when they are trying to say the actual violations took place. The main one that they are relying on in their characterization of this is the one of Cole not filing some reports on some stock trades that were deemed to be his (He still maintains those were not even his shares since they were the box account for making the market, and he was only relaying the trades for the guys in Europe, but we can leave this for another day since this stuff is very complicated).
This is what is called administrative law and is not in the criminal system (if it was he would not have been able to get residency in CR like he currently enjoys) and no where in this was there anything to do with other peoples money or market manipulation of any sort (which is necessary for fraud).
Cole agreed to this settlement to get this out of his way, it was not the right decision and he regrets taking it since he can not now go back and contest it so he is stuck with it the way it is (It appears he got bad legal advice in hindsight since he unfortunately just followed a lawyers advice), but it is clearly not Fraud or criminal.
General point is that he somehow has stolen something somewhere in his Career. I wish I could say Cole was as much of a saint as all these guys pointing fingers at him but I will have to admit he might have stolen something at some point, who of us could say they have never done something that you regret, however I can say that not one of the issues they raise would be called theft under any law I know. This was contrived to sound bite the complicated facts related to his problems with the BC Securities Commission, and to also explain why many lose when they fight with him...Cole could not possibly be smarter than them.
--
I would say that in the big world of venture capital deals, the Cyberoad one is more of a drip than the tidal wave these guys are trying to make it and I still maintain that Cole never had the full control over the deal since the guys who financed it made the critical decisions against Cole's advice that he maintains was the main reason the deal died...the SEC in the US would not approve a sports betting deal....so they essentially lost their own money. Also, Cole has an actual judgement in the Supreme court of BC Canada that sanctions everything he did after Cyberoad died, for he was the plaintiff.
Reading the stuff that some of these so-called watchdog's post, they have it entirely the other way around. Other than a few trade disputes, Cole has not even ever been sued let alone had anyone get a judgment against him, and as I outline above he has no criminal record so hard to see how this can be perpetrated by anyone serious.
Bottom line is Cole has documentary evidence of everything I say here if anyone is actually really interested (Iike Lakerfan calling for a site to expose all BiGMo's conspiracy theories for instance
Name Change...Simply to make it safer for Cole to commute through the US between their two offices, yet still have the industries highest level of corporate transparency (kind of getting defeated when its all over the forums). The name change thing has in fact been a huge winner for them in my opinion, so I consider it to have been a good strategy.
Besides this is a common thing in our industry, I am surprised anyone would even post on this one. I bet he would like to be treated the same as everyone else in the industry in the forums, I don't see why his legal name is allowed to be posted?? I know you guys do respect names being removed from the site.
Funny thing is that the one image ringing loud and clear in many threads about Bodog is that being their friends is beneficial and that Bodog is now a force that can not be ignored.
Maybe one day, others besides your truly will get it, period!
THE SHRINK
[This message was edited by Angelle on December 03, 2003 at 02:17 PM.]
Here is a bit of fact to counter the memes out their floating around that are just plain factually incorrect and are being propagated by guys who don't even know them.
Peep is the funniest one betting Bodog is going to be out of business in April, and this from a self proclaimed industry authority.
eBanx.....I don't believe Bodog actually has a position on this vis a vis ownership, they only maintain that its a separate company, which it is and has to be for legal reasons, than the gaming company. This is mandated by the credit card processing rules, even how its explained on the site is mandated by them. Bodog even has referred to its eBanx DBT product as proprietary in their marketing, not something that they would do if they had some big plan to deceive everyone on their involvement.
Cole Turner was the one that conceived this payment method and this is well known. In my opinion, this is an entirely fabricated issue to try to take a shot at one of the industry's leading payment system since no one has been able to replicate it yet.
Mayan....simple one, Bodog has a contract that shows it never did anything wrong there and they are still in business and still using the logo Bodog designed for them.
http://sportsbook.mayancasino.com/servlet/sportsbook.user?Page=Index
sports911....Bodog is not an owner, nor even the biggest advertiser. They are the industries most prolific content generators and they get along well with Chris, who is smart enough to know that the people behind Bodog are winners and that he is going to be seen to have good judgement as Bodog becomes more commonly known as the powerhouse it is destined to be. (Russ even agrees with him on this one now).
Swiss Account...$7 plus Million and climbing, player balances $4.8 M as of today. They also have another $3 plus million in operating cash in other international accounts ($10.6 M in total cash as of last week) and have 0 debt and are very profitable.
Bodog paid out its advertising for the year in this past months profits and are one of only a couple of books that do have player balances in a segregated account. Nobody is making the money they are this year! On a related note Bodog is also very large, they have done over half a billion in combined sports and casino handle since the start of Aug this year...Bodog is significantly over a $billion handle company on and annualized basis, and still growing at triple digit rates, this puts them in an elite group in our industry.
Stock Fraud....that is a criminal offense, Cole Turner has no criminal record. He was found guilty of a number of mostly dry violations of the BC Securities Act from a project he got involved with in his first year out of University back in the late 1980's. Cole Turner settled this in the mid 1990's and this is when they are trying to say the actual violations took place. The main one that they are relying on in their characterization of this is the one of Cole not filing some reports on some stock trades that were deemed to be his (He still maintains those were not even his shares since they were the box account for making the market, and he was only relaying the trades for the guys in Europe, but we can leave this for another day since this stuff is very complicated).
This is what is called administrative law and is not in the criminal system (if it was he would not have been able to get residency in CR like he currently enjoys) and no where in this was there anything to do with other peoples money or market manipulation of any sort (which is necessary for fraud).
Cole agreed to this settlement to get this out of his way, it was not the right decision and he regrets taking it since he can not now go back and contest it so he is stuck with it the way it is (It appears he got bad legal advice in hindsight since he unfortunately just followed a lawyers advice), but it is clearly not Fraud or criminal.
General point is that he somehow has stolen something somewhere in his Career. I wish I could say Cole was as much of a saint as all these guys pointing fingers at him but I will have to admit he might have stolen something at some point, who of us could say they have never done something that you regret, however I can say that not one of the issues they raise would be called theft under any law I know. This was contrived to sound bite the complicated facts related to his problems with the BC Securities Commission, and to also explain why many lose when they fight with him...Cole could not possibly be smarter than them.
--
I would say that in the big world of venture capital deals, the Cyberoad one is more of a drip than the tidal wave these guys are trying to make it and I still maintain that Cole never had the full control over the deal since the guys who financed it made the critical decisions against Cole's advice that he maintains was the main reason the deal died...the SEC in the US would not approve a sports betting deal....so they essentially lost their own money. Also, Cole has an actual judgement in the Supreme court of BC Canada that sanctions everything he did after Cyberoad died, for he was the plaintiff.
Reading the stuff that some of these so-called watchdog's post, they have it entirely the other way around. Other than a few trade disputes, Cole has not even ever been sued let alone had anyone get a judgment against him, and as I outline above he has no criminal record so hard to see how this can be perpetrated by anyone serious.
Bottom line is Cole has documentary evidence of everything I say here if anyone is actually really interested (Iike Lakerfan calling for a site to expose all BiGMo's conspiracy theories for instance
Name Change...Simply to make it safer for Cole to commute through the US between their two offices, yet still have the industries highest level of corporate transparency (kind of getting defeated when its all over the forums). The name change thing has in fact been a huge winner for them in my opinion, so I consider it to have been a good strategy.
Besides this is a common thing in our industry, I am surprised anyone would even post on this one. I bet he would like to be treated the same as everyone else in the industry in the forums, I don't see why his legal name is allowed to be posted?? I know you guys do respect names being removed from the site.
Funny thing is that the one image ringing loud and clear in many threads about Bodog is that being their friends is beneficial and that Bodog is now a force that can not be ignored.
Maybe one day, others besides your truly will get it, period!
THE SHRINK
[This message was edited by Angelle on December 03, 2003 at 02:17 PM.]
