[BET THE HOOK]

I opened an account with RW through SBR to play in a contest a little while back and tried to fund it today but got bad news. I was told on new accounts and old accounts that have never been funded they will only accept action on NBA. I told him I was looking to wager on NASCAR but would be playing NBA as well and probably a little baseball. They informed me that they had met their quota for those players and could only accept new players for NBA. I couldnt believe my ears. I thought a book would welcome any action they could get especially being a book rated pretty decent by SBR. I guess I will keep my action at VIP.com and BetOnline.

[DBurton81]

Wow! That is unreal! They must be in a little bit of financial trouble!

[shari91]

I remember Blackie posting a few times on here that he was going to cap his number of players at a certain amount. I agree it's a bit odd when you compare it to the books that do anything to get a deposit but from the positive side, only he knows how much he's willing to put at risk cash-wise so I guess it's a good sign for those already playing with RW that he appears to have a sound financial plan in place.

[excel]

Likely a U.S. player, they are probably limiting their exposure at the moment. A new deposit the day after one of the biggest online gambling shutdowns(to bet on nascar), kinda does sound like the police.

[excel]

Can't even imagine how many pages this would be already; if it was in players talk.

[tomcowley]

They're clueless. They don't know how to actually book for shit, and instead of learning, they do garbage like this to minimize risk. I guess rule number one if you're a complete moron is to only do business with people who are certified as mentally disabled.

[relaaxx]

what a ridiculous way of cutting risk.

[BET THE HOOK]

Yeayh exactly. I was told I could only wager on NBA when I asked for the western union name to send the deposit to. Thats when I told them I was looking to wager on Nascar and baseball. No book that I have ever heard of turned down a deposit from a customer that is in good standing at every book they have played with. And Im not a heavy hitter by a long shot.I just wanted to take advantage og the 250 for 250 offer to SBR members on a new account.

[shari91]

Likely a U.S. player, they are probably limiting their exposure at the moment. A new deposit the day after one of the biggest online gambling shutdowns(to bet on nascar), kinda does sound like the police.

You could be right but I'm pretty sure someone posted the same experience as BETTHEHOOK within the last 2 weeks. I didn't get around to replying in the thread but it was the same scenario although they may have just refused the player's new sign up altogether. Honestly can't remember the details but it was similar to this somehow because I remembered Blackie's posts from before.

[tomcowley]

Yeah, he's posted to that effect before. I doubt it's because of PS/FT. Dinosaurs being dinosaurs.

[adolfas52]

bad news from them.

[BET THE HOOK]

I just expected more from a book on the top of the SBR page. I signed up with JustBet instead because I wanted another book to go with the others in my stable. I currently play with VIP.com,BetOnline,Bookmaker,DSI,and BetJamaica so I think Im pretty well set now.

[BET THE HOOK]

I called and asked for reconsideration and was told I could only wager NBA and futures on other sports which leads me to believe they need to limit any potential short term losses.

[durito]

Not taking new players isnt a sign of financial problems. Not sure why have the banner up though.

[mtneer1212]

It is called being fiscally responsible and having a good business model. Increased customers means added income, but it can also mean increased risk. There is nothing wrong with making sure current customers can be paid.

[Igetp2s]

It is called being fiscally responsible and having a good business model. Increased customers means added income, but it can also mean increased risk. There is nothing wrong with making sure current customers can be paid.

Nope, more customers would probably mean less risk, not more risk. Diversification is always going to lower your risk. Not to mention economies of scale as most of their costs are fixed regardless of the number of players. Not a good business decision.

[bookie]

If Blackie can't accomodate a random customer who wants to deposit $250 how the heck does he think he's going to handle the level of deposits it will be necessary to take to run an exchange?

That said, I agree with those who say that it speaks well of the man's integrity and foresight to just service his existing clients if growth may bring problems.

[JoeVig]

Wonder what this says about the XM exchange they are trying to get together. Hope the same model does not apply, less players = sh*tty liquidity.

[big joe 1212]

just silly!

[mtneer1212]

Nope, more customers would probably mean less risk, not more risk. Diversification is always going to lower your risk. Not to mention economies of scale as most of their costs are fixed regardless of the number of players. Not a good business decision.

Over time you are correct, but if he has X dollars to pay Y customers if they win, adding more customers is an immediate risk that decreases over time as you get more income. (X dollars to pay Y+Z customers = less capacity to pay in the short term.)

[pokernut9999]

In case you guys have not noticed , processing is the number one concern with books.

By keeping a capped amount of players they can always pay a lot faster than other books.

You can see by the FullTilt/ PokerStars fiasco where greed gets one.

[tim0402]

if stupid players wouldnt withdrawl so many times this wouldnt be a problem.

[nyplayer33]

yes processor concerns...they are coming out with an exchange aren't they?

[djefferis]

why risk a solid biz for small time us action, and potentially get a sharp slipping in, who creates a lopsided exposure ?..been posted and discussed.

[vitalyo]

why risk a solid biz for small time us action, and potentially get a sharp slipping in, who creates a lopsided exposure ?..been posted and discussed.

LOL with his limits and 20 cent lines on NFL . He has no worry about sharps slipping in .

GL.

[mighty maron]

His book his choice.....lots of other books out there

[DBurton81]

Lots of other books out there like BetJam and TheGreek....you know those books will pay!

[BET THE HOOK]

They need to take the RebateWager banner down if were not really allowed to play there.

[Eagle1958]

Why play if they can't pay.

[garretman]

sounds to me that they are in trouble might be going out of business soon look out

[Kindred]

I gotta say that makes no sense to me. I know sites like vip stopped taking NEW customers altogether from the U.S. to limit exposure ect. but to take players but not take bets on certain sports is just odd.
Don't think they are going under, when a book is in financial trouble they are like a ponzi scam taking in new deposits to keep it afloat. Just don't understand why they would only want NBA action from new customers.

[scott235]

Wonder what this says about the XM exchange they are trying to get together. Hope the same model does not apply, less players = sh*tty liquidity.

...and if they chose to limit player numbers in an exchange setup, it would be a dead giveaway that they are not a legit exchange in the first place,