the bottom line is don't trust anyone!use caution and don't listen to people who may be receiving money for advertising(definition of advetising:make publicly known,esp. to encourage sales) on their site and also someone you don't even know .......in the first post that the shrink made in this thread he states "They REALLY IMPRESSED me with their plans and more importantly, with that "so called" 500k BOND they boasted about...." my question to the shrink and any mod if they may have the answer is HOW THEY IMPRESSED YOU(SHRINK)?
I don't think that people are pissed off merely because the book that they had money in went broke. It happens quite a bit and we accept the risk as a cost of doing business, and hopefully don't keep too much money in one place.
No, what is pissing people off in this case was the fact that this book was promoted as being safe because of a supposed bond that was posted, and there being a strong government regulatory agency overseeing their operations. Now we're finding out that there may be no bond (has its existance been verified?) and that the Panamanian government is about as useful as
on a bull. THAT is where the people feel decieved, that we were told (assured) that there was actually a safety net or even a regulatory body with some teeth. And the fact that the ones doing this assuring either didn't dig deep enough to find the truth or didn't care because the check cleared.
No, what is pissing people off in this case was the fact that this book was promoted as being safe because of a supposed bond that was posted, and there being a strong government regulatory agency overseeing their operations. Now we're finding out that there may be no bond (has its existance been verified?) and that the Panamanian government is about as useful as
on a bull. THAT is where the people feel decieved, that we were told (assured) that there was actually a safety net or even a regulatory body with some teeth. And the fact that the ones doing this assuring either didn't dig deep enough to find the truth or didn't care because the check cleared.I'm one of the lucky ones here. I got my bonus and got out of panam long ago. Didn't care much for their software, and found if I wanted reduced juice, Pinn was far better.
All that aside, whenever I play at a book who advertises on the rx, or who is touted by ken or any of the mods, I know there is a risk of being stiffed. But there are two reasons why I would continue to play at these tyoes of shops. The first question you have to ask yourself is what kind of a bonus are they offering. Is the bonus high enough to compensate me for the fact that there is ahigh probablity that this place will go bust. The next question is, if the place goes bust, will the shrink or the mods here find a book to offer a bailout. When I got burned by pts, who was not an advertiser here, I got bailed out by the greek and GA. WHen a riend of mine got burned by lue marlin, Pat got him a great deal at Royal. ANd thats why I pay at books who advertise here.
Whenever you play at a book you've never heard of, or that has zero track record, you need to ask yourself, how many layers of protection do you have. The first layer will always be the sign up bonus. WHat's your next layer of protection. In Peeps case, he is trying offer the escrow account. At therx, imo, its their ability to find bailout offers. If and when their ability to get other books to offer bailout packages end, thats when I would have to seriously reconsider playing at any thier new advertisers.
All that aside, whenever I play at a book who advertises on the rx, or who is touted by ken or any of the mods, I know there is a risk of being stiffed. But there are two reasons why I would continue to play at these tyoes of shops. The first question you have to ask yourself is what kind of a bonus are they offering. Is the bonus high enough to compensate me for the fact that there is ahigh probablity that this place will go bust. The next question is, if the place goes bust, will the shrink or the mods here find a book to offer a bailout. When I got burned by pts, who was not an advertiser here, I got bailed out by the greek and GA. WHen a riend of mine got burned by lue marlin, Pat got him a great deal at Royal. ANd thats why I pay at books who advertise here.
Whenever you play at a book you've never heard of, or that has zero track record, you need to ask yourself, how many layers of protection do you have. The first layer will always be the sign up bonus. WHat's your next layer of protection. In Peeps case, he is trying offer the escrow account. At therx, imo, its their ability to find bailout offers. If and when their ability to get other books to offer bailout packages end, thats when I would have to seriously reconsider playing at any thier new advertisers.
You F#cking crybabies have got to get a life, I am willing to bet that the most vocal posters in this thread probably dont even have a penny in BetPanAm. Most of you are just trying to make the Shrink look bad and arent even losing a penny. Shrink is not the one to blame, PANAM IS!!!!!!!!!!!!! If Shrink told you to jump off a bridge would u listen to him???? Shrink took a trip to Panama, saw their offices, met the owners, was told about this 500k bond and he liked what he saw. Do you think he walked into a safe and counted the $500,000, 1 dollar at a time????? He did the best job he could and accepted them as an advertiser, he also had close friends down there(Scotty and Marty) who had a good track record with prior books. The people who post here are on the sharper side of this industry, nobody here is that naive to put $10,000 into a book just because Shrink said they were safe. We all do our own work and also use the resources of this site to come up with safe books and the Industry is much safer with these sites than it was without them. This site exposes frauds everyday and their advertisers have about a 39 for 40 success rate on paying out and everyone wants to talk about the 1 of 40 that goes out of buisness. Shrink does a great job here and anyone who gets stiffed should look to blame themselves and NOBODY ELSE! PanAm is still not a stiff job yet and I feel for anyone who gets stiffed if that is what is going to happen, but nobody is to blame except for PANAMA and the person who sent them money. I played at PanAm but I got out right before the NFL Playoffs, If any book is going to have payout problems, its gonna be aound the SuperBowl and I reduce my balances at new books The FInal Week of the NFL season every year. My money is in Pinnacle, Olympic, CRIS and Grande right now and thats it and come March Madness I will put it back into some other books again, if they survive the Super Bowl Payouts!
So, basically, Shrink can tell us anything he wants (re: bond) and then when it turns out to be complete bullsh*t 6 months later he can say "well it was so & so that told me and he always seemed like a good guy so I accepted it as gospel"...and then he's completely absolved of any guilt. That's what you're telling us, right?
<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR> So, basically, Shrink can tell us anything he wants (re: bond) and then when it turns out to be complete bullsh*t 6 months later he can say "well it was so & so that told me and he always seemed like a good guy so I accepted it as gospel"...and then he's completely absolved of any guilt. That's what you're telling us, right? <HR></BLOCKQUOTE>
It worked for George W Bush, didn't it?
It worked for George W Bush, didn't it?
There are some things in the works for a bailout come worst case. The fact that Betpanam will not either 1.) Pay 2.) Tell us they are dead, is causing us much headache.
Would you want a bailout now and then 1 week later Panam arises from the dead?
BetpanAm needs to tell us if they are going to pay or not. Until then, it is a terrible ordeal. I would rather them post they are belly up than to not speak at all.
Would you want a bailout now and then 1 week later Panam arises from the dead?
BetpanAm needs to tell us if they are going to pay or not. Until then, it is a terrible ordeal. I would rather them post they are belly up than to not speak at all.
chips i am not blaming anyone other then panam, but the problem i have is there are questions that cannot be answered by people who were promoting this book. people who receive money to promote! people who consider this site a watchdog site for the players. people who are suppose to get the facts.
Thank you Pete for that update. Whether it comes to fruition (or even becomes necessary) or not it makes me feel somewhat better that Ken IS working on a solution. I've been really hard on him because I haven't sensed any culpability, remorse or effort, but if I turn out to be wrong then I'll be the first to say so & apologize.
First of all we dont know that the $500,000 bond is complete bullshit, although it sure looks that way. I think its there but the investors are gonna grab it before any customer gets paid.
If Consumer Reports puts out that the Dodge Neon was rated the safest car in its class and you get hurt in an accisent in that car is it there fault??
If Consumer Reports puts out that the Dodge Neon was rated the safest car in its class and you get hurt in an accisent in that car is it there fault??
<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>
If Consumer Reports puts out that the Dodge Neon was rated the safest car in its class and you get hurt in an accisent in that car is it there fault??<HR></BLOCKQUOTE>
If it turns out it was some specific safety issues unique to the Dodge Neon, then yes, you bet your ass they have will face major backlash. If not legally responsible you better believe their reputataion and trustworthyness will take a major hit.
If Consumer Reports puts out that the Dodge Neon was rated the safest car in its class and you get hurt in an accisent in that car is it there fault??<HR></BLOCKQUOTE>
If it turns out it was some specific safety issues unique to the Dodge Neon, then yes, you bet your ass they have will face major backlash. If not legally responsible you better believe their reputataion and trustworthyness will take a major hit.
