What a bunch of whining crybabies you all are!

[TheMDKid]

Jazz,
Good points. Like I said, I don't have all the answers. But that is my point. No ONE person will have all the answers. Thats the beauty of the free market - if your idea sucks it will fail, but it will spawn new ideas by others that will eventually work. The important thing is that ideas get kicked around til something that is workable EVENTUALLY is implemented. So keep your thoughts coming.

Truth,
I am glad that things worked out for you Down under. I am somewhat skeptical that it will continue, however. 2 or 3 more big Aussie books go under, and suddenly you got a slew of gov regulations on how to run a book there. Then you end up with, like I stated earlier, clones and 20 cent lines. If that is to your liking then all the more power to you. I, on the other hand prefer variety and am willing to accept more risk to get it.

Charlie,
Thanks, just trying to be positive and rolling out food for thought.

 

[Mr.Jones]

The MD Kid and Jazz

BTW Charlie, you will have that synopsis e-mailed to you by the end of the day. Thanks for your interest.

 

[truthteller]

MD kid, if that time comes about where they deal only 20 cent lines then that's it for me offshore.

In the meantime I am sticking to books in a regulated (communist

) environment.

BTW aren't most of these new shops clones. The only difference is they give away huge bonuses and that's not my cup of tea. As I stated earlier in another thread I deposited a couple thousand with Betworks never received a bonus but was more than happy since I knew my money was safe and I was beating them and got paid same hour of request.

 

[jateeluv]

good point about SIA...i wonder how many times people have run to the bank and taken money when someone here at the RX bashes them (Chuck Sims every time he gets a chance to). Yet they survive time and time again. Who knows they might be on thin ice or they might have more money coming out of the ying-yang than alot of the top-tier books.

The worst thing any poster can do is start rumors and cause a 'run to the bank' panic crazy attack. If you have doubts of a book after proper research don't post up there.

Maybe Freddie/Mike and GA could have survived if people didn't cry, cry, and panic. Maybe they weren't seeing alot of results and were thinking of being bought out. But us, the players, the posters, the whiners, the cheaters, the losers, the winners, ultimately forced GA to seek help quickly. Luckily for us, someone did help.

 

[TheMDKid]

Truth,
I'm outa here too if we end up with 20 cents and variation. My problem is that I'm a scalper and a middler 85% of the time, so I absolutely need the variety. I'm really very very concerned when someone suggests we need more gov regulation of the industry. Remember this: The government NEVER has your best interests in mind. NEVER!! Especially in this industry!! If you believe otherwise, your just fooling yourself. I should know - I WORK FOR THE GOVERNMENT!! Who better to know the faults of the beast than one in it's belly!

Jateeluv - I agree 100%

Anyway, we're digressing here a bit. The main point of this thread was to kick around ideas to "solve" the biggest problem with this industry - scammers running off with our money. Hopefully some of these ideas have legs and don't just die out because no-one wanted to pursue them or work out the kinks.

 

[truthteller]

MDkid, guess we will have to disagree on this one. I am all for government regulation. I am even more for the U.S regulating and allowing these books to operate there.

When I see scammers from Enron and Worldcom behind bars that makes me want regulation even more. The fckers from Aces, luckys and a few more would be in jail now if they were ina regulated environment.

I live and work in an unregulated country and environment. Who better to know the faults of the beast than one in it's belly!

 

[D2bets]

There could never be true insurance with this. RX or MW as the insurance company? Ummm...who's going to be the reinsurer to back them up? Do you realize the kind of deep pockets needed for something like that. What happens if a major book collapses or several collapse at once requiring far more cash than was put in and far more than RX or MW could dream of handling? Nice try, but I can't see it possibly working. We are gamblers, we are taking risks, we should mitigate those risks how we each see fit. Gamblers taking risks shouldn;t be an appalling concept.

 

[TheMDKid]

Truth,
For every scammer from Enron and Worldcom, there is 100 of 'em in the government. The only reason they're not all in the clink is because they RUN the clink!! And the courts, too!

No-one on this planet works and lives in an unregulated environment. Not by a long shot. Their is no freedom, just varying degrees of slavery. Matter of fact the internet may be the last bastion of semi-freedom left. And the feds HATE THAT!

D2,
As I suggested earlier, the only ones covered by the insurance would be those that paid premiums. As long as the insurance company did its homework and gave a proper rating to each book then they would not lose money because they would only be bailing out premium payers. The insurance company wouldn't necessarily need backing either. There could be several insurance companies just like in the "real" world. Competition between these companies would weed out the charletans and the cream would rise to the top. This is in direct contrast to government entities where the Scum rises to the top because they never have to please the customer.

Remember, offering insurance is also only one device to use to install customer confidence. Encouraging bailouts is another. And I'm sure there are plenty other ideas out there just waiting to be born. I refuse to throw my hands up and complain "nothing will fix this". All that is needed is for good people to put their minds together and offer ideas and solutions instead of constantly throwing cold water on every idea put out by another. Don't ask why, ask why not!

 

[IntuitionBET]

Never...Never wager more than you can afford to lose. This is an OLD rule of thumb everyone should always follow and has been stated here many times over and over again. And is the OLDEST rule of gambling.

That is the main reason I don't believe in using Credit Cards for gambling as if you DO NOT have the CA$H you have no business being in the building trying to make a bet.

D2bets - May be right as who says who is the best holder of the insurance money? The watchdog sites are the most logical choice but there will be people complaining about that until the cows come home etc.

In the REAL WORLD of gambling Vegas, Atlantic City, UK, Monaco etc there is NO NEED for a player’s trust or insurance as there is accountability in the industry.

Now IF the watchdogs sites can enforce accountability among the sports books that would be a Godsend. And IF they are able to actually do it it will show that this industry is stable and will help ease this industry into becoming legal in the states as we took these measures BEFORE the industry was regulated. Or forced into regulation because of unregulated dishonest operators and unexperienced operators trying to raise post-up monies and then fold.

 

[truthteller]

MD, So if we go by that theory that the whole government is a scam then we should never adhere to any laws they make. That would lead to total chaos.

If working in CR is not unregulated I don't know what is.

 

[TheMDKid]

Truth,
Total chaos - a phrase that the statist uses to cover up his fear of freedom - To an anarchist like me, it sounds like pure paradise!

 

[TheMDKid]

Anyway,
Appreciate all the comments fellas, gotta run for now. Keep those thoughts a comin.