[rm18]

Omega Internet Solutions, a current funding method for 5 dimes, says you can fund with cash in 33 states and get a 5% bonus for the first time, I haven't called the toll free number yet though.

[bigboydan]

I've never tried them RM18. However, heres the press release on this company.

Omega Internet Solutions Launches New Online ewallet

Omega Internet Solutions launched their new online e-wallet today. Based in Panama City, Panama, and operating worldwide the Omega Internet Solutions Group has plans to grow rapidly in the e-wallet industry.

Omega Internet Solutions offers several unique features in their e-wallet that distinguish them from any other e-wallet currently available. The Omega e-wallet was designed to allow people without bank accounts to fund their online e-wallet through direct money transfers which of course do not require bank accounts. Also, personal checks and wire transfers will be accepted. An Omega Internet Solutions account is free and easy to create.

Omega merchant accounts receive a 6% commission on every dollar that the merchant sends through their e-wallet account. This makes an Omega merchant account the only e-wallet in the world that pays merchants. Omega Internet Solutions expects many entrepreneurs in the developing world and elsewhere to begin taking advantage of the special merchant opportunities at Omega that allow a small business to get involved in the funding of Omega e-wallet accounts.

These localized funding options will bring the online e-wallet down to the closest level possible to everyone worldwide. This includes those in the developing world, which until now have had very little chance to use the internet for business transactions. Omega merchant accounts can also be used to pay third parties, thus simplifying business operations and saving Omega merchants both time and money. The Omega Internet Solutions Group expects rapid growth in the online entertainment industries which have customers that want additional privacy in their online transactions and may face difficulty in purchasing goods and services due to cultural or other barriers. To open a free Omega Internet Solutions e-walllet account go to www.omegainternetsolutions.com today.

[JBC77]

More good news. People are starting to step up. Theres money to be made, processors to be born. Not connected to the bank....hows that for a good idea. I predict a year or two out things for U.S players will be back to normal or better than they used to be. Uncle Sam will once again be totally out of the loop and behind the times.

[CrazyLou]

It will be more convienent when other books start to use them, that way instead of repeated WU's to individual books, you can just make one big deposit to them and let it remain in the account. I haven't used them yet and probably won't until I see them supported in more places, and hear some more reviews.

Follow up - I just contacted their support. Guy was very friendly, he said they are 'in contact' w/ Matchbook & Bookmaker to name a few, but haven't worked anything out yet. The guy said the cheapest funding method would be a deposit at a local bank, even said it is the most discreet.

[Visitors]

8% fee for all moneys received from merchants???

**In addition to the above fees users pay 8% on all funds received from merchants or other users that they want to withdraw from the Omega system

http://www.omegainternetsolutions.com/index/fees.aspx

[jjgold]

this is all too confusing now, so many new companies popping up. Who do you trust?

[CrazyLou]

Yeah. After Neteller's crash and burn, I figured by football season there would be a new company to emerge with an easy alternative. Omega has been aggressive with pursuing some of these companies, and I don't blame them. They very much want the business Neteller left on the table.

Some Q&A w/ rep

Q: Okay thanks, and lastly, do you have the names of any online entertainment businesses you're planning to deal with aside from 5dimes?

A: Yes, currently Jazz Sports, Bet Las Palmas, Ehorse, and by next week Superior, and Bet Mania and a few others. Who were you interested in?

[Bill Dozer]

I don't believe Jazz doesn't have them available as of yet. It sounds like they are aiming to compete with WU and MG with that fee structure. We will have to test them out.

Anyone have an account?

[Visitors]

Originally Posted by Bill Dozer

I don't believe Jazz doesn't have them available as of yet. It sounds like they are aiming to compete with WU and MG with that fee structure. We will have to test them out.

Anyone have an account?

Bill,

On Saturday they told me they will start with OMEGA next week ( so this week ).

[JBC77]

Originally Posted by Visitors

8% fee for all moneys received from merchants???

**In addition to the above fees users pay 8% on all funds received from merchants or other users that they want to withdraw from the Omega system

http://www.omegainternetsolutions.com/index/fees.aspx

Thanks for pointing this out. Those are some steep fees. It's still a company worth following. Does SBR have a list of current E-processors? It seems like they are popping up quickly.

[GamblingMike]

The MoneyGram option is also very discreet and only $9.95 to send up to $8,000,it is not the person to person method. And withdrawing by Moneygram by person to person is much ,much cheaper than withdrawing by MoneyGram person to person directly from a book,only $4 or 2.5%.

[CrazyLou]

Mike,

So it is basically a small fee on MoneyGrams end, then once your funds are on w/ omega, they charge 8% to send funds to a book? And then 2.5% to cash out? Maybe I'm being a nit here but I think their business model would be better off with only the 8% figure, then offering a free cashout (of course still offering the expedited option for a few bucks).

[GamblingMike]

Originally Posted by crazyl

Mike,

So it is basically a small fee on MoneyGrams end, then once your funds are on w/ omega, they charge 8% to send funds to a book? And then 2.5% to cash out? Maybe I'm being a nit here but I think their business model would be better off with only the 8% figure, then offering a free cashout (of course still offering the expedited option for a few bucks).

It is free to send and receive funds to and from a book but when you withdraw money that you withdrew from a book, they take out 8% of your withdrawal,for example,withdraw $100,receive $92, then another $4 or 2.5 percent to cash out via MoneyGram.

I agree with you about their business model,your way makes much more sense,they might be charging so much because of the lack of competition that offers a comparable service with the many deposit and withdrawal options and such.

[Bill Dozer]

5Dimes is adding them now we are told. Some other A rated books are waiting to see how they do.

[Bill Dozer]

Originally Posted by Visitors

Bill,

On Saturday they told me they will start with OMEGA next week ( so this week ).

I would be surprised if they are ready to go with it next week but they are very much in need of something. Non-US guys can't use MB or Neteller right now.

[Visitors]

Originally Posted by Bill Dozer

I would be surprised if they are ready to go with it next week but they are very much in need of something. Non-US guys can't use MB or Neteller right now.

Bill,

With OMEGA there will be a switch from a withdrawal method that cost $60 for every 10K withdrawed to another that is going to cost $800 for ever 10K withdrawed. Does peoples realize that if you pay 8% for withdraw your money you are laying -119.5? ( risking $11000 to win $9200 )

[Bill Dozer]

If it was me I would take the check or hold out for a transfer to CRIS next week. I think there are quite a few players waiting to do the b2b transfer again.

[Santo]

I guess CRIS's incoming B2B fee mentioned elsewhere is to take advantage / limit the volume of those?

[Bill Dozer]

CRIS is serving as a central banking point for books in CR these days. They spend man hours and resources on this and a lot of the players aren't necessarily going to give the same action that they would if they sent in a check. One way to go might be to take all transfers for free or another might be to charge for the reduced value in these types of deposits... just a biz decision.

[Omega Mike]

Hello everyone,

I am Mike from Omega Internet Solutions. I was just recently made aware of this thread and thought I would make myself available to answer questions. Going through the thread let me answer some questions...Omega is currently in use at 5dimes, Betguardian, Jazzsports, Betlaspalmas, E-horse, and several others. I expect Omega will be in use by the end of next week on Superior, BetMania, and a couple of others. We are adding around 3 a week.

Omega accepts funding your Omega account by Money Gram, Western Union, Wire Transfer, E-Check, Money order, and through our funding merchants cash in 33 US States. By Cash this means you make a counter cash deposit into the account provided and your Omega account is credited in about ten minutes. Omega has an instant funding option by check of up to $200. Repeat users can have their limits increased. There is a 5% charge for Instant Funding.

There is no fee for depositing by any other method other than what the customer might pay at WU or Money Gram. Non-instant funding by check takes about 3-5 business days for your account to be credited.

Omega offers a 5% bonus on all first time deposits over $1000. Omega also has a rewards points program with the points being used either to purchase Ipods and T.V.'s or to offset your withdraw fees.

I think this answers some of the basic questions I saw in the thread. As this is my first post on this forum I would like to say thanks to SBR for the opportunity to address these issues here. I will be happy to reply to any questions here in this forum or by private message.

[bigboydan]

Welcome to the SBR forum sir

Thanks for taking the time out of your day and post in this thread explaining a few things about your company.

[hudson15]

anymore updates on these guys?

Omega Mike are you guys going to add pinnacle to the list of books?

[Omega Mike]

Currently Omega is not in discussions with Pinnacle. Thank you for the question.

[hudson15]

Mike have you added any additional books we should be aware of?

[increasedodds]

Your idea of a new merchant is great.

Your 8% fee for end users is crazy. You need end users. They are much harder to get than merchants.

You are already netting 2% on transfers to merchants. Bump that up to 3% like Neteller and drop the 8% fee on your users. You'll have a hell of a lot more users.

I hope this succeeds and that you revise your fee schedule. I'd love to use you guys, but can't see paying 8% of thousands of dollars when you can wire for $25... Maybe you could do 8% up to $25 or something, but no one is gonna pay $800 to move $10,000...

-Sean

[increasedodds]

Your idea of a new merchant is great.

Your 8% fee for end users is crazy. You need end users. They are much harder to get than merchants.

You are already netting 2% on transfers to merchants. Bump that up to 3% like Neteller and drop the 8% fee on your users. You'll have a hell of a lot more users.

I hope this succeeds and that you revise your fee schedule. I'd love to use you guys, but can't see paying 8% of thousands of dollars when you can wire for $25... Maybe you could do 8% up to $25 or something, but no one is gonna pay $800 to move $10,000...

-Sean

[Visitors]

Originally Posted by increasedodds

Your idea of a new merchant is great.

Your 8% fee for end users is crazy. You need end users. They are much harder to get than merchants.

You are already netting 2% on transfers to merchants. Bump that up to 3% like Neteller and drop the 8% fee on your users. You'll have a hell of a lot more users.

I hope this succeeds and that you revise your fee schedule. I'd love to use you guys, but can't see paying 8% of thousands of dollars when you can wire for $25... Maybe you could do 8% up to $25 or something, but no one is gonna pay $800 to move $10,000...

-Sean

Finally someone that note this ( i disagree with you Sean only about the $25 LOL , it's much less ). Remember guys that pay 8% for withdraw your money it is like laying -120. YOU ARE RISKING $11000 TO WIN $9200, YOU CANNOT ESCAPE THIS. IF YOU DEPOSIT MONEY WITH OMEGA YOU MUST WITHDRAW THROUGH OMEGA ( same as Neteller ).

Unfortunatelly those "great brains" that opens up these new money transfer options, does not understand that the most successful way in doing this type of business would be to charge as less as possibile because YOU WILL DESTROY THE COMPETITION.

Assuming "CIRCUIT" ( this is how i would call it ) charge 1% for money in and out that's 0.5% for deposits and 0.5% for withdrawals from bettors to merchants and viceversa, who is gonna to use Neteller, Moneybookers etc anymore? You don't believe that you can make money charging only 1% per client?

Use an internet bank account so wires from/to books are free ( IT IS AMAZING THAT SPORTSBOOKS THAT DO EVERITHING AS POSSIBILE TO TRYING TO MAXIMIZE THEIR PROFITS, USE REGULAR BANKS AND PAY FEES FOR WIRES, CHEQUES ETC. THEY ARE CUTTING THEIR PROFIT.

With a state of the art website and a state of the art software, no need to have a lot of employers. 5 employers can do everithing needed and working 8 hours per day. A guarantee response by email in no more than 24h ( but the average will be less ). Clearly explain "if you are looking for a live chat customer service and/or 24h customer service, CIRCUIT may not be the best money transfer option for you so peoples knows the "business type" of the company ( so go elsewhere that has a live chat and pay 4% ).

With 5 employers, assuming CIRCUIT pays 2K monthly to each one, then add 2K a month for office rent, power, monthly internet bank account fee etc. you would need about 12K a month just to cover the expenses ( i do not add the initial costs like set up the website, buying the computers etc, they will be recovered in the first few months ) assuming each customer average a monthly "movement" of $1200 so there is a monthly profit of $12 per customer, you only need 1000 customers just to "break even". Neteller had 3 millions customers when they dropped the us ...

If anybody wants to set up this with me in the beautiful city of TEHERAN ( IRAN ) or STJOHN'S ( ANTIGUA ) send me a pm.

PS
Sorry for my english

[Wassymac]

Originally Posted by increasedodds

Your idea of a new merchant is great.

Your 8% fee for end users is crazy. You need end users. They are much harder to get than merchants.

You are already netting 2% on transfers to merchants. Bump that up to 3% like Neteller and drop the 8% fee on your users. You'll have a hell of a lot more users.

I hope this succeeds and that you revise your fee schedule. I'd love to use you guys, but can't see paying 8% of thousands of dollars when you can wire for $25... Maybe you could do 8% up to $25 or something, but no one is gonna pay $800 to move $10,000...

-Sean

It would be great if Omega Mike could comment on this. Explains a bit more why the 5% first time bonus is possible. I understand why the 8% is in the fine print as it would scare away users but I'm just curious why it has to be that extreme when books are already paying Omega 8% on deposits.

I'd imagine your customer base would explode with a reasonable fee structure for the end user plus a little more flexibility of moving funds to other books.

Also curious if there are anymore books in the works? A month or so back it seemed Omega was close to adding Bookmaker and in discussions with Matchbook. With those two added it would be huge...as of now the options are kind of limited. Seems with OIS that all withdrawals (even winnings above the initial deposit) must be withdrawn back to Omega.

Thanks

[Halo]

Pwned!

[Wassymac]

Originally Posted by Halo

Pwned!

I don't know about that as I think it's great they are stepping up to provide another alternative. Just checking to see if there is some more information is all.

[bigboydan]

Originally Posted by Wassymac

I don't know about that as I think it's great they are stepping up to provide another alternative. Just checking to see if there is some more information is all.

Before you go any farther Wassymac. I think you might wanna checkout this thread, and ask yourself just what type of void there really filling.

[Wassymac]

Originally Posted by bigboydan

Before you go any farther Wassymac. I think you might wanna checkout this thread, and ask yourself just what type of void there really filling.

Thanks BBD. I did miss that thread...I used them to fund Jazz which is why I raised my questions. No problems to this point except the big one in that funds must be moved back through OIS (actually the deposit process and transfer to Jazz was quite smooth) but obviously I haven't withdrawn funds yet.

[MoneyWindow]

Sorry - posted to incorrect thread

Meant to post here

[Keith Richard]

Has anybody else been able to go to their web page today? I haven't been able to get on the last few hours.

[CrazyLou]

Originally Posted by MoneyWindow

Sorry - posted to incorrect thread

Meant to post here

Way to pull a fast one, not.