Open Discussion: Will Bank Wires And Cashier's Checks Become Unusable?

[SportSavant]

If you buy a Money Order at the post office, you are the one that fills out the information as to whom the sender is.

 

[X-Files]

stef:

If you are asking my opinion on bank wires and cashier's checks, I believe they will disappear as a method to fund and I also believe more and more books will drop out of the U.S. market as Pinnacle did and the one's that remain will be marginal and not very secure.

Ted, i assume you are not referring to the British books, and any others
that have never dealt with the US market, that i suppose have done
very well for years, with a bright future ahead, e.g. BetFair, W Hill.

Although bet365/Bowmans has recently dropped their USA residing
customers like a hot potato, they have been around for decades &
IMO are rock solid.

I can see many smaller offshores going under in the next year, or
joining together to survive, especially those that have been 90%
dependent on US customers. However, on what basis would you say
that books like Olympic, Pinnacle, and others "A" rated "will be
marginal and not very secure"?

The addition of casinos and poker to sportsbooks are elements that
make them more financially stable than in the past. Like Vegas they
are not dependent upon sports betting to survive, and it may not
even be their primary source of income.

Then there are the Exchanges {e.g. Mansion, Matchbook} which may
be the wave of the future as gambling online becomes more & more
popular in the rest of the free world.

 

[BadCo]

Do what you can to get a land agent.

I know it;s easier said than done but get-r-done.

Part of Pinnacles problem was thier land agents and they got caught becuase
they were a great source for N.Y. bookies for laying off action.

 

[slapshot]

Fed-ex cash and we will have to pay to insure it I guess.

there would be another Lufthansa heist or D.B. Cooper skyjack

10,000 x 500 = 5,000,000

reup before football that plane (or planes) would be loaded

 

[X-Files]

Yes it is, but I keep reiterating, since October 13, 2006, the world of offshore gambling will forever be different then we have been accustomed to in the past. The reason. "It's The Law". Financial institutions are not going to place themselves at risk of being closed down by the Federal Government for not actively following the law.

I wonder if Uncle Sam has not already accomplished his main goal,
& if that goal was to scare the crap out of the vast majority of
offshore sports bettors, so that they quit and keep the USD in the
states where it belongs. And now that that is done, it's not worth
his effort to clamp down on the few hardcore pros and addicts
left whos motto is "where there's a will, there's a way". Does he
really want to house 1000's of otherwise law abiding Americans in
expensive institutions?

 

[oldmanTED]

Ted, i assume you are not referring to the British books, and any others
that have never dealt with the US market, that i suppose have done
very well for years, with a bright future ahead, e.g. BetFair, W Hill.

Although bet365/Bowmans has recently dropped their USA residing
customers like a hot potato, they have been around for decades &
IMO are rock solid.

I can see many smaller offshores going under in the next year, or
joining together to survive, especially those that have been 90%
dependent on US customers. However, on what basis would you say
that books like Olympic, Pinnacle, and others "A" rated "will be
marginal and not very secure"?

The addition of casinos and poker to sportsbooks are elements that
make them more financially stable than in the past. Like Vegas they
are not dependent upon sports betting to survive, and it may not
even be their primary source of income.

Then there are the Exchanges {e.g. Mansion, Matchbook} which may
be the wave of the future as gambling online becomes more & more
popular in the rest of the free world.

Correct, I was not referring to British Books like Betfair and William Hill. I was referring only to those books that cater to U.S. citizens. I wasn't implying that "A" rated books would be marginal. In most instances, those books can survive very nicely without the U.S. and may close their doors to that market due to the funding problems and still do well and be secure. That would then leave less secure books remaining open to this market. While I agree that the casinos and exchanges bolster the industry, if funding continues to become more increasingly more difficult from the U.S., I fully expect those books that can survive without the U.S. market will do so even with the casinos and exchanges.

 

[oldmanTED]

I wonder if Uncle Sam has not already accomplished his main goal,
& if that goal was to scare the crap out of the vast majority of
offshore sports bettors, so that they quit and keep the USD in the
states where it belongs. And now that that is done, it's not worth
his effort to clamp down on the few hardcore pros and addicts
left whos motto is "where there's a will, there's a way". Does he
really want to house 1000's of otherwise law abiding Americans in
expensive institutions?

Uncle Sam has just begun his assault. Dry up the funding sources and the goal is accomplished. The individual player is not the main target of the law.

 

[lapdance]

i've heard that it is only beginning. very good source.

 

[wisdom]

I have sent cash many times also never had a problem.I have heard of people who have .Thru different soures have had problems .The us postal service money never showed up .I have a friend who works for said fedx is not the problem the employess are sniffing dogs.etc.
Dont you think in time like they do VEGAS for non post up clients have agents to pay and collect.It would be a big task and have mininum how much you had to deposit or collect.

 

[wisdom]

What I believe is where there is way it will be found way to big of a demand.
I know people who have found away around the Pinnacle situations already .The FEDS better start hiring many more people to control this situations They will stop the every day player who will not go out of it way to bet but the pros will find away .Which will really hurt the books no more haveas much dead money a good bookmaker can handle that if they book properly

 

[Brock Landers]

i've heard that it is only beginning. very good source.

a guy with 90 some posts that "its only the beginning" after all the sources out there have been shut down, now THATS a post you can trust LOL

 

[wisdom]

LETS just get our money from NETELLER then the battle will begin.The goverment will be fighting two battles to get there share from offshore and Irag
I believe in time it will work out all right the goverment will get it share.One of the biggest lobbist the Las Vegas company will all have internet sites.If they would be forced to work indepently.It would be better for the players.Many more numbers to look at .The Vegas company would get all the squares. Maybe we could find some different numbers middling would come back if they were forced to not move the numbers on air.Let see if they cold compete with the real bookmakers offshore .Forced to be bookmakers instead line readers off the computers.Thi all in IMO

 

[propplayer]

If they shut things down we will have more sophisticated ways to gamble in the <st1:country-region><st1lace>USA</st1lace></st1:country-region>.
I’ve already recently heard of a respected local with an unrelated websites with special method to get to a log in page and wager menu which he gives access only to his VIP clients. A guy of a guy working for “the guy” is pulling $3K per week. I imagine this stuff would develop more if we ever got shut off.

 

[plato]

Most of the attention is on funding an account. I'd be more worried about the funds coming to me and negotiating them. Don't see books sending you cash back in a fedx envelope.

 

[BAGIANT]

I was just in my Washington Mutual branch and I noticed they offered FREE bank wires either locally or internationally. I know they go across the USA, so maybe it pays to look into opening an account there. I haven't tried it yet since I opened a click2pay account before they closed to the USA. My other option is my permanent Visa debit card from netspend.com. I made a deposit at Carib using the card just this week! No problems!

 

[harrington]

Most of the attention is on funding an account. I'd be more worried about the funds coming to me and negotiating them. Don't see books sending you cash back in a fedx envelope.

 

[ChalksR4Kids]

Just a side note--- A lost cashier's check can take 6 months and a great deal of hassle to replace. Just make sure you understand this before using them.