NEW POLICY FOR RX SPORTS BOOKS!!!

[Sodium Pentethol V]

Since the information can never be accurately verified.

And the next best would be a real govt oversight board to insure funds on deposit, not going to happen any time soon in places like CR.

lets go to the third best plan,

a limited fund to those stiffed by sportsbooks,

how to make such a fund?

well leading candidates would be sites that collect revenue from the sportsbooks and are yet supposed to be acting in the players best interests.

I won't be holding my breath.

 

[raiders72001]

I think that Joey makes the most sense. Great idea by the Shrink but it's not practical. If you want a book regulated then play at a book in countries where regulations exist.

 

[buddyboy]

.

 

[Boston1]

Royal After all that you have done in recent months you have gained no respect from this site. You have bent over backwards to do everything that you could to help others. Even now after all the abuse that you have taken recently you are willing to disclose weekly results. You people are incredible. A+

 

[DarrylParsons]

First reaction: great idea!

Second reaction: lousy idea

for reasons mentioned already several times...

- it creates a "big brother" effect with advertisers

- it creates suspicion among posters like me who know you won't bite the hand that feeds you so maybe you'll just SAY you're doing that but not do it in reality for one or more books

- it adds nothing to our security b/c a troubled book would surely fudge (nothing to lose, right?) and so we will hear about slow pays long before the numbers start looking cockeyed and by then what use is it!? It will only tell us what we already know.

 

[RPM]

seems like a good idea if it can be made to work. it will definetly be tough to pull off...

 

[THE SHRINK]

Thanks for bringing this to the top...

RPM was right about it being too difficult to pull off...

Oh well, maybe someone can add a more realistic way top check sports books out financially...

THE SHRINK

 

[Skyweasel]

are privately held, there is not much you can do, there are no financials to look at, no public accountability. All you have is the old, "their word is their bond" deal, and in this business, that is not much.

 

[Samurai]

<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Oh well, maybe someone can add a more realistic way to check sports books out financially.<HR></BLOCKQUOTE>
Someone already did...earlier in this thread.

 

[Java]

Shrink and others-

The idea has merit, but with all the pitfalls, it probably wouldn't provide real security, only the illusion of security by way of a few warnings.

Let me knock away some of the false arguments against this, before I get to the real ones:
First of all, the idea that this is an undue burden on the books is incorrect. All the computer systems have online reports for weekly totals and the like. All the books have to do is create an account for Shrink to read the specific reports on weekly figures and total balances. Since this data changes everytime a game is graded, it would be tough for a book to fake the live results, as Shrink can monitor anytime during the week.

While finding a book with heavy losses is a warning sign, if a book is just going to close shop and steal the money anyway, this isn't going to stop anyone.

Misuses of the data:
As third parties go, Shrink's integrity is pretty high. However, Shrink has been invested in various books over the years. This could be a major conflict of interest if Shrink has data on rival books. The third party looking at the data would have to have no financial interest in any book (including ones not advertising).

If a book does have a bad run, what is the threshold for Shrink to warn players? If Shrink jumps the gun, a massive player withdrawal could damage a book that might otherwise recover.

That said, some form of monitoring could be useful, but there are a lot of issues to resolve to make monitoring safe and effective.

 

[justonce]

Not only do these books have to trust the RX,they also have to trust Marty the new owner of this site.Also the owner/partner of Rio!?

 

[tomslic]

<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Originally posted by Sodium Pentethol V:
Since the information can never be accurately verified.

And the next best would be a real govt oversight board to insure funds on deposit, not going to happen any time soon in places like CR.

lets go to the third best plan,

a limited fund to those stiffed by sportsbooks,

how to make such a fund?

well leading candidates would be sites that collect revenue from the sportsbooks and are yet supposed to be acting in the players best interests.

I won't be holding my breath.<HR></BLOCKQUOTE>

 

[kookoo]

<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Originally posted by THE SHRINK:
Due to the unfortunate climate that has developed following the recent failures of some sports books, we are going to require ALL of our sponsors to disclose their weekly results with us beginning next week.

This information will not be disclosed to any third parties. Rather, it will be used for



this site to protect gamblers from sports books who may not have enough money to back bets...

If a sports book doesn't want to participate with this new policy, we will be glad to refund your money on a prorated basis...

THE SHRINK<HR></BLOCKQUOTE>


THis sounds good when will it go into effect ? right away