IBetx

[BMeadow]

For the past four days, there has been virtually no betting at the exchange IbetX.com. The site is working, but there's no action. I've been playing there for years and while every so often there's little betting, this is the first time the problem has lasted for days. IbetX.com sent me an e-mail to my inquiry, but doesn't seem to know what's going on. Anybody know anything?

[bigmack]

From outside the UK:
T: (+44)208 599 4334
F: (+44)208 599 6688

Email: info@ibetx.com

[shanta]

Everybody's broke?

[BMeadow]

Things suddenly returned to normal in the middle of Saturday afternoon, at all tracks. Ibetx told me they had been having technical problems, but it looks as though everything has been solved.

[ryesteve]

My problem with IBetx is how to get around their geographic restrictions to open an account :D

[BIG49010]

When I looked into it a few months ago, it appeared to be have very little money changing hands on U.S. racing. Has this changed?

[howardjim]

My problem with IBetx is how to get around their geographic restrictions to open an account :D

Although I've yet to open an account, IBetx called from London and confirmed via e-mail that the usual overseas procedures (identity,funding) could be in place within days. I'm in Massachusetts.

[highnote]

I have an account there, but never used it much because there was no liquidity on U.S. racetracks. Then the Connecticut Attorney General said it was illegal for CT residents to bet over the internet. So I stopped betting online.

I quit betting by phone even though I have an account at CT OTB. What a pain the ass to have to phone in bets.

I will never go to Belmont or Aqueduct until a new organization runs it. Zero customer service. The day I had to pay for parking so that I could stand in line to buy tickets for the Smarty Jones Belmont Stakes was the straw that broke this camel's back. To top it off, they were sold out -- and I had just called to make sure there were still tickets left.

But I have digressed. My point is, I still read the PaceAdvantage board, but I do not bet very much on horses. The futures market and currency markets look just as beatable and I can legally bet online with them.

[ryesteve]

Although I've yet to open an account, IBetx called from London and confirmed via e-mail that the usual overseas procedures (identity,funding) could be in place within days. I'm in Massachusetts.
I'm confused... on their application page, the country of residence dropdown doesn't include the U.S. or Canada. My assumption was that they, like other europe-based exchanges, don't accept applications from here.

[highnote]

I had no trouble signing up or funding the acct. But that was a couple years ago. I think I may have even transferred funds from my bank into the acct. Wonder if I could still do that? Given what the U.S. did to BetOnSports I doubt I will ever place money with an illegal offshore racebook.

A few years back I lost $50 when a U.K. based online bookmaker folded. Luckily, it was only $50.

[highnote]

There is big money involved in online gambling. Now that BetOnSports has been shut down this can only mean one thing -- war. I don't mean the dropping bombs on enemy cities kind of war. But I think we will see a lot of effort by the "illegal" offshore bookies to keep their cash flowing.

Because of all the money involved these offshore sites will not go down quietly. What about PartyPoker? What would happen if the U.S. arrested their CEO?

So much for the WTO. This is all about power and money.

Power isn't given. It's taken. The U.S. just tried to grab more power by arresting Caruthers.

Has anyone read "Net Worth" a book about the history of the National Hockey League. The lengths the owners of the 6 original teams went to in order to keep control and power made for fascinating reading.

What about Machiavelli's "The Prince"? Machiavelli writes, "It is better to be feared than to be loved if you can't be both." I think the U.S. Justice Dept. took a page from this book because they certainly don't care about being loved -- except maybe by the people above them.

There are a lot of parallels that you can draw from these two books and the way this "illegal" offshore betting situation is unfolding.

[howardjim]

My correspondence and conversations were on 12/28/05.

[highnote]

Let's put the shoe on the other foot. Do U.S. betting company's (Youbet, BrisBet, etc.) accept funds from foreign locations and allow bets to be placed from offshore?

Could China shut down a U.S. site (Youbet, BrisBet, etc.) and arrest one of it's owners if they accepted funds from a Chinese customer and then the CEO stepped foot on Chinese soil?

If not, then Caruthers has to go free, IMHO.

Or maybe this is just about exercising power.