SPORTS BOOKS THAT ARE STRUGGLING...

bigboydan · Jun 17, 2004

<BLOCKQUOTE class="ip-ubbcode-quote">quote:<HR>Originally posted by FISHHEAD:
Bigboydan--

PERSONALLY, any company that has signed up for an escrow under your plan has given me a signal to just flat out get out of that book.

Talk about an INSTANT red flag.........that would be one for me.

That is my PERSONAL feeling and would think that anybody with any sense would feel the same here.

<HR></BLOCKQUOTE>

fish, i can't disput what you said at all there but, i will say this though... i would have loved to have got the money i had comming insured via an esgrow account though because at least i would have got something back at least.

btw, please note i did not tell v-wager to use the ogd esgrow account i clearly stated use a reputable esgrow series.

Fishhead · Jun 17, 2004

Dan- thanks, your right on the last part.

DickyW · Jun 17, 2004

Fish
Lets keep your eye on the ball here. This Circus could have been easily avoided if V - Wager is indeed in trouble. Not sure who is right and who is wrong but it once agaoin was handled like shit.
A shame this had to grow to 6+ pages before everything got out on the table. If a guy emailed me about being slow payed $1750.00 I would have gone to V-Wager ASAP. If the player was reluctant to provide me the info in fear of being stiffed I would have guaranteed his funds on behalf of the RX. After all paying someone $1750 and potentially saving posters thousands sounds like a no brainer.

hondaman1 · Jun 17, 2004

wheres mcirish when you need him

V-WagerAccounting · Jun 17, 2004

Ken (shrink):

Whenever possible, we make advertising payments over time (this is a 99% rule). This is simply GOOD BUSINESS. If you make payments over time, then you have money to do other things with. Imagine buying your house with cash - you probably couldn't eat if you did that.

For example, when YOU asked for $24,000 to advertise on ThePrescription.com, the marketing guys asked if we could break this into three payments of $8,000.00. This allows us to cut muliple deals so we can be 'everywhere' when it comes to marketing.

As for Insiders...yes, there is a debt to Insiders which is being paid with payments (like all our other marketing payments). The cash is delivered to Norm S. in the Mall San Pedro, or his son. This is how we operate. Always have. Always will.

Cash flow is one of the most important things in bookmaking (post-up). If you pay everyting in cash lump sums, you end up with 0.0% growth.

Ken, you have known us since we showed up in Costa Rica. You know we went from a small shop to a big one in Very Short Order. This is due to Cash Flow Management. The basics are, more payments over more time without interest is definitely better for the company.

Hope this helps.

Alicia
Accounting Manager
V-wager
www.V-Wager.com
1-888-771-9080

Schouest · Jun 17, 2004

<BLOCKQUOTE class="ip-ubbcode-quote">quote:<HR>Originally posted by DickyW:
After all paying someone $1750 and potentially saving posters thousands sounds like a no brainer.<HR></BLOCKQUOTE>

Is that really most important, or is it best to stick it to a book that decided not to renew ?

THE SHRINK · Jun 17, 2004

Dicky,

VWAGER owes one of our advertisors a considerable amount of coin, too. They called me while I was working out at the gym and I said I would get back with them.

Rather than wait for my return call, VWAGER posted all they could to try and convince gamblers that all is well at their shop when it isn't...

And you can take that to the bank...

THE SHRINK

V-WagerAccounting · Jun 17, 2004

Escrow Idea:

Somewhere up there someone wanted us to prove we are liquid.

Here is an idea - MAKE A WITHDRAWAL AND SEE IF YOU GET PAID PROMPTLY.

Escrow has been attempted (Australia, Europe, etc.) and it never worked. The best way to check liquidity is to call and ask for your money. Take a withdrawal (full or partial). Check us out. You need to feel comfortable with us.

We are not scared.

Alicia
Accounting Manager
V-wager
www.V-Wager.com
1-888-771-9080

hondaman1 · Jun 17, 2004

what about the 1750 slow pay???

TOW · Jun 17, 2004

wow wow wow ! my good buddy John, currently vacationing in Jamaica, is back ! Good to hear from you John, although you do sound like a broken tape recorded...funny, I read you and a sound comes to my ears...Jazz !

Back to the core of this thread, so we may all move to something else..... Alicia : have you had the time to verify the complaints that Fishhead has brought to your attention ? Thanks.

V-WagerAccounting · Jun 17, 2004

Fishead:

Need to address your post and emails. I promised the facts and here they are. You may verify all the facts with Neteller if you would like.

The PIN Fishhead provided is valid V-Wager.com client. The client deposited $3,000.00 via Neteller on May 7, 2004 and received $300 in bonuses (10% in cash). The client withdrew $4,030.52 on June 6, 2004 (entire amount in his account). He was paid via Neteller with $2,500.00 on June 7, 2004 (our max out per day per rules); and balance subsequently. The subsequent portion of the payout went out on June 10, 2004 late at night (after we replenished our Neteller account due to numerous withdrawals on June 6 and 7). Rather, the client was paid in FULL.

Perhaps this is more a misunderstanding of our Neteller rules, as posted on http://v-wager.com/online_wagering_withdrawal_methods_.html. We have a limitation of $2,500 out per day/client. This keeps us from being drained in our Neteller account by a small 'run on the bank' (still happens once in a blue moon). You have probably seen similar rules at www.TheGreek.com and www.BetRio.com. The goal is to insure we don't keep a ton at Neteller in case they go away ala GPX, ala SecureBuxx, etc. We like to minimize exposure with money transaction companies (been burned tooooo many times).

Hope this helps. Please bring on more clients stating SLOW PAYS.

***Note: Ken (Shrink) is stating that the slow pays were by CHECK. So, he must be talking about someone else. This is Neteller.

Thanks,

Alicia
Accounting Manager
V-wager
www.V-Wager.com
1-888-771-9080

D2bets · Jun 17, 2004

<BLOCKQUOTE class="ip-ubbcode-quote">quote:<HR>Originally posted by THE SHRINK:
VWAGER,

In my haste to comment about Lindsey's, I accidentally posted on your post about why you are LATE paying them. Feel free to resubmit....

If the amount of money that you owe Lindsey's is _SMALL_(your own words), then why would a book not in trouble need to be making payments?

Also, care to comment on what you owe Insiders Football News?

Be careful, because there is another BM that has told me more information about you guys...

THE SHRINK<HR></BLOCKQUOTE>

Shrink, you're raising holy hell about them MAKING PAYMENTS. I could see if they were NOT making their payments...is that your claim? Even if they don't NEED to be making payments, if their advertiser is allowing them to, why should they not take advantage of it.

Seems to me like you;ve taken a page from the CIA's maunal for exaggerating claims of weapons of mass destruction. Just trump up the facts here and there to make something magically appear!

V-WagerAccounting · Jun 17, 2004

Hondaman1:

The $1,750 slow pay was a claim. Nobody has come forth with a true account of what happened (PIN or NAME or EMAIL).

Rather, we don't know (i) who is making the claim, or (ii) where it originated. We too are waiting on the information so that we can present the FACTS of the matter.

Thanks,

Alicia
Accounting Manager
V-wager
www.V-Wager.com
1-888-771-9080

Fishhead · Jun 17, 2004

On the slow-pay:

I am getting minor difference of what happened from both the V-wager and the player parties.

V-WAGER ---your more than welcome to tell your side of the story here.....I would just not mention names or accounts in this forum.

Fishhead · Jun 17, 2004

<BLOCKQUOTE class="ip-ubbcode-quote">quote:<HR>Originally posted by V-Wager Accounting:
Hondaman1:

The $1,750 slow pay was a claim. Nobody has come forth with a true account of what happened (PIN or NAME or EMAIL).

Rather, we don't know (i) who is making the claim, or (ii) where it originated. We too are waiting on the information so that we can present the FACTS of the matter.

Thanks,

Alicia
Accounting Manager
V-wager
http://www.V-Wager.com
1-888-771-9080<HR></BLOCKQUOTE>

HUH???????

I have been discussing it with you for the last hour.

superstar · Jun 17, 2004

how safe is mvp at this point?
Are balances at risk?
Are they going to collapse?

Fishhead · Jun 17, 2004

Maybe you do not realize........THAT IS THE SLOW PLAY ACCOUNT I SENT YOU.

chach · Jun 17, 2004

<BLOCKQUOTE class="ip-ubbcode-quote">quote:<HR>Originally posted by THE SHRINK:
The following email was just sent to me from a bookmaker that knows VWAGER very well....

Here is most of the email...

I think Dalton bit off more than he could chew last year, in the way of advertising. He tried to be like "G" in advertising everywhere, but as you know this costs a ton. He ran up a lot of debt with advertisers such as Athlon and other publications. He settled with Athlon, but I know he still owes Lindeys a large sum from last year and another bookmaker 50 plus dimes.

I spoke with his attorney the other day and we were told by his attorney that he is in serious debt right now, and has a huge debt with the Caja (Costa Rica's version of the IRS). This morning as I was driving to work I noticed that he was installing a larger satellite on his roof. What is his priorities? I think that he lacks business sense, and doesn't know how to grow a business wisely.
PS. If you pass by his office (across the street from the mall) you'll notice some very expensive SUVs (including a Lexis) parked in his private parking lot, and at least 3 bodyguards dressed in black suits guarding the parking lot and the front door. This is a guy who wants to be just like G, but doesn't know how to get there.<HR></BLOCKQUOTE>

You might want to consult with your attorney before posting stuff like this. Could be libelous.

THE SHRINK · Jun 17, 2004

VWAGER,

I am almost done with you guys... Let the facts speak for themselves, as our viewers are NOT stupid...

I admire the fact that you are doing the RIGHT THING NOW and I wish you the best of luck...

P.S.

Are you trying to suggest that these publications agreed to your payment schedule?

I believe ALL of what you OWED FOOTBALL INSIDER WAS DUE LAST SEPTEMBER, 2003.

Now that you confessed to owing him money, I gave Norm from Millenium a phone call...

In DECEMBER, you dropped off 10k but still owe them 54k from LAST YEAR!

Sheesh. Talk about twisting the truth!!!

THE SHRINK

V-WagerAccounting · Jun 17, 2004

Fishhead:

Thanks again for the information. Simply look above to see our account of what occured. Again, feel free to call Neteller and ask to verify the facts.

If we did anything wrong it was to 'not communicate' effectively to the client.

Again, check our facts with Neteller. I think you will quickly see that we have presented the facts accurately.

Again, we appreciate your help Fishhead.

Alicia
Accounting Manager
V-wager
www.V-Wager.com
1-888-771-9080