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  1. 05-04-10 07:59 AM #1
    tartantipster
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    Default Tartantipster Advises Flight To Quality

    I was proposing to do a very short write up on the present state of the Bookmaking Industry, and now seems like the perfect opportunity to do so, especially in light of the global turbulence in government treasuries, financial institutions, and stock markets – the reverberations of which trickle down to our pockets (or not) sooner or later in one way ort’other – and in turn to bookmaker’s coffers.

    You will have noticed an alarming number of Sportsbooks go into liquidation of late, and this is a trend that in my opinion will only get worse before it improves. In case you need your memories refreshed, here are a few businesses that have either gone under, are scamming people, are on their last legs, had to merge (cost-cutting ~ efficiency saving purposes) or have closed of their own free will:

    Sunderlands (scam)
    BetPresto (scam)
    Oddscompany (scam?)
    Premierbet (scam)
    BetChance (scam)
    Stryyke (last legs)
    BetAfterBet
    GolfandBet
    BetOnBet/Eurolinx
    Ciaobet
    Gold Victory
    Playbanks
    WauwBet
    Kickbets
    Ascot Sports (closed)
    ChanceRoom (closed)
    Bettingstar (closed)
    CantorSport (closed)
    Heathorns (closed)
    ITV Bets (closed)
    Lasseters (closed)
    Mansion (closed)
    Portlandbet (closed)
    MyBet (exchange closed)
    Sportsbook Bill Hurley (merged)
    Bet4E (merged)
    BetandGame (merged)
    Bet Direct (merged)
    BetUK (merged)
    Pokerium (merged)
    IG Sport (merged)
    The Pig (merged)
    Wager Street (merged)
    BetOT (bailed out)



    If I were to mention those still open but having difficulties with processing clients’ payouts; slow paying; all but done; running off with player funds etc., then I'd be here all night! N.B. It’s 02:00am.

    Sportsbooks not cash-rich; without players’ funds 'ring-fenced'; without strong financial backing; AND/OR heavily in debt; relying on deposits to cover withdrawals; poor business acumen; inexperienced management; weak models; offering huge reloads; offering inflated Arbs/Odds; coming up with clauses in T&C's / changing T&C's to fleece customers, and so on, will likely close now more than ever. It will probably be like a bolt of lightning meaning hardly any chance to withdraw your hard earned cash! This is why it is imperative that we provide feedback to review sites like BMR & SBR, to act as a lighthouse in dark times, i.e. Oddscompany!

    So, please keep in mind that Bookmakers are NOT Banks, nothing is guaranteed - nothing is safe. It is now that I feel compelled to advise you all to do VERY thorough research on any book you go into, BY YOURSELF [Bookmakers Review & Sportsbook Review], do NOT rely on others. Stick to books rated at least 2.5- at Bookmakers Review & C- at Sportsbook Review [although there are some perfectly good Sportsbooks rated D-]. This is especially true when embarking on sizeable wagering requirements as the potential to be deprived of substantial funds is worryingly high. Even at the aforementioned rating levels there are NO assurances but there are those who do not even check an e-gaming outlet before diving in, really!

    Where there is a new bookmaker opening (you have your own risk/reward ratio) its doors with a low WR, walk-in take the bonus and close the door behind you.

    THESE ARE MY CHECKPOINTS:

    1st. Rigid Criteria – My Own Items
    2nd. Thorough Background Investigation – All Aspects
    3rd. Main Forum Checks – Done Daily
    4rth. Player Feedback – Done Daily
    5th. Review Site Ratings – Done Monthly
    6th. Payment History – Full Records

    If they don't meet the above standards & decisive factors then I won't try them.



    TT Says: IT IS TIME FOR A FLIGHT TO QUALITY
    Last edited by tartantipster; 05-04-10 at 08:17 AM.
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  2. 05-04-10 08:05 AM #2
    michalis
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    how can sportsbooks go bankrupt? I thought the bookie always wins and the evidence is that most gamblers are broke
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  3. 05-04-10 08:07 AM #3
    pavyracer
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    Default

    Quote Originally Posted by michalis View Post
    how can sportsbooks go bankrupt? I thought the bookie always wins and the evidence is that most gamblers are broke
    Betting Syndicates. All it takes is a bad line and a couple million poured on a fixed game for a book without deep pockets to go bankrupt.
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  4. 05-04-10 10:05 AM #4
    hhsilver
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    Default

    Thanks for your efforts. A lot to think (and worry) about.

    Your user name ( and your good writing ) makes me think you might be a loyal Carnegie Mellon grad. True?
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  5. 05-04-10 04:41 PM #5
    tartantipster
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    Quote Originally Posted by hhsilver View Post
    Thanks for your efforts. A lot to think (and worry) about.

    Your user name ( and your good writing ) makes me think you might be a loyal Carnegie Mellon grad. True?
    Thank you for your response, and for your appreciation. I hope it a timely & useful reminder. I am sorry to say that I am not a Carnegie Mellon University graduate.

    Wishing you every success in your gaming pursuits.
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  6. 05-11-11 06:29 PM #6
    tartantipster
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    Exclamation Upgrade! 18-11-2010, 12:40 PM

    From Live Newswires, Business Articles, Bookmaker Updates, Forums, Comments, New Threads, Ratings, Reviews:

    Stick to books rated at least 3 at Bookmakers Review & B/B+ at Sportsbook Review. [was 2.5- & C- previously]

    [although there are some perfectly good Sportsbooks rated lower, you must do your most thorough research, now more than ever, before depositing at any Bookmaker!]

    Thank you, TT.
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  7. 05-11-11 06:30 PM #7
    tartantipster
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    Default Update.

    The process I initiated last year of withdrawing my funds from bookmakers based in the United States of America is now complete. I shall only be wagering with the elite US bookmakers from here on in, and even then I won't leave a float. I have no plans to change this in the near to medium term. It will be years before the UIGEA ( Unlawful Internet Gambling Enforcement Act of 2006 ) may be repealed, if at all; until then we shall probably see many US bookmakers fall foul of the aforementioned Law, and federal &/or state prosecutors.
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  8. 07-04-11 04:58 PM #8
    tartantipster
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    I am out of all US bookmakers now for the foreseeable future.
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