Betcris

[ryesteve]

Apparently they've migrated all of their US Accounts to bookmaker.com. Does anyone know what the implications are? Was this done to better shield this portion of their business, or was it done to make it easier to close up this portion of the business when things become too hot?

[classhandicapper]

This is a very good question. I just logged in and saw the same thing.

http://www.theonlinewire.com/articleView.aspx?ID=2441

[BIG RED]

Maybe uncle Sam hasn't threatened Costa Rica yet? They still have rebates for horse, like betcris did

[speedking]

I was told that BetCris bought out another wagering outfit and opened up Bookmaker.com strictly for the US market. Also informed that new funding and withdrawl options will be announced shortly.

The horserace betting interface is the same as Betcris had, for better or worse, and rebates work exactly the same.

I'm still cautious, but a knowledgeable source said that they plan on serving the US bettors for a long time. He said that since they are not a publicly traded company and rather a closely held Costa Rica firm, they are less vulnerable to DOJ threats and persecution.

speedking

[linrom1]

Effective immediately, all sports books belonging to the VIP.com Group will no longer accept new customers from the United States. Existing customers will be able to continue to wager with the VIP family of books.

The VIP Group will no longer accept deposits from Canadian players effective immediately. Canadian customers will maintain access to their account until April 1, 2007. Any current balance in the account may continue to be used until that date, at which point any remaining funds will be refunded to the player and their account will be closed.

Link (http://www.theonlinewire.com/articleView.aspx?ID=2429)

Why would they stop to continue to do business with Canandian customers while continuing to do same with US customers? VIP stopped taking US customers in the past from states that expressly forbid Internet wagering.

[lurker]

The move was done for several reasons. The first is to seperate the two businesses for processing reasons. They can get much better and cheaper processing if they have no US exposure. The second is for SEO purposes.The Bookmaker name is very SEO friendly. There are a couple of other minor reasons also.

[bigmack]

For what it's worth from a reliable source in CR - Stay away from BetCris

[ryesteve]

For what it's worth from a reliable source in CR - Stay away from BetCris
Because? And does this also apply to bookmaker.com?

[bigmack]

Because? And does this also apply to bookmaker.com?
I can't speak of bookmaker and I don't want to go into specifics with BetCris but he said they're iffy at best right now.

[JackS]

Third party funding and withdrawal that is probably unreconizable to most financial institutions and the US government. Bet Cris has been around too long and is too well known to keep its secrets or to assume that it is operating without "eyes"on.

[linrom1]

Third party funding and withdrawal that is probably unreconizable to most financial institutions and the US government. Bet Cris has been around too long and is too well known to keep its secrets or to assume that it is operating without "eyes"on.

With so many smaller sites suspending their operations, the ones that can survive should eventually benefit, unless they start conducting their business in bad faith. The loss of business form US players has been dramatic, in some cases more than 80%. With such a significant loss, most players can probably expect very slow payouts, which could further erode the numbers of remaining US players.

[rrbauer]

I can't speak of bookmaker and I don't want to go into specifics with BetCris but he said they're iffy at best right now.

This is precisely the type of innuendo crap that isn't needed at this board. If you have solid info, lay it on....otherwise keep the playground stuff to yourself.

[bigmack]

This is precisely the type of innuendo crap that isn't needed at this board. If you have solid info, lay it on....otherwise keep the playground stuff to yourself.
Yavolt herr Commandant. God forbid should there be a discouraging word uttered of a book in Costa Rica. :D

If a guy worked for a company once told you in a thumbnail sketch not to buy the stock without going into detail, would you buy the stock and tell him to "keep the playground stuff to themself"?

[alysheba88]

This is precisely the type of innuendo crap that isn't needed at this board. If you have solid info, lay it on....otherwise keep the playground stuff to yourself.


I disagree completely. And he is right by the way

[formula_2002]

I read a piece in the NY Times yesterday that seems to say it's not illegal to bet on line. Funding and withdrawing money through an online site is the illegal part when done so in the USA.
Is that correct?

Thanks
Joe M

[alysheba88]

I read a piece in the NY Times yesterday that seems to say it's not illegal to bet on line. Funding and withdrawing money through an online site is the illegal part when done so in the USA.
Is that correct?

Thanks
Joe M

Yes, in general that is true. In general

[rrbauer]

Yavolt herr Commandant. God forbid should there be a discouraging word uttered of a book in Costa Rica. :D

If a guy worked for a company once told you in a thumbnail sketch not to buy the stock without going into detail, would you buy the stock and tell him to "keep the playground stuff to themself"?


I disagree completely. And he is right by the way


Aha....peat and repeat....and having nothing of substance to say.

[bigmack]

Aha....peat and repeat....and having nothing of substance to say.
Do we suck on the teat of BetCris or what's with the hair lodged in the wrong pipe?

[ryesteve]

Yes, in general that is true. In general
But that's little solace if all these sites are going to stop accepting U.S. customers.

[Topcat]

Yavolt herr Commandant. God forbid should there be a discouraging word uttered of a book in Costa Rica. :D

If a guy worked for a company once told you in a thumbnail sketch not to buy the stock without going into detail, would you buy the stock and tell him to "keep the playground stuff to themself"?

Actually,yes unless there was something substantial to the comments.

My more profitable stock buys have come when I ignore those sort of comments from supposedly inside information. Comments like that often come from disgruntled employees or those with myopic vision that are displeased that things don't run perfectly. It reminds me of a comment I heard once from someone on the "inside" who worked with a horse and said there were problems and the horse shouldn't be bet-when pressed as to why he said , "because he poops a lot" ! I said all horse do and went forward with my bet. When the horse won at 10-1 and I saw the connection again he was mad because he didn't bet a dime on him. The funny comment he made still sticks with me as he just kept saying, "damn pooping horse won ! Can you believe it?"

We don't need perfect in a stock or sports book just consistently good. So if your friend doesn't some facts I would put it in the pooping horse category.

[linrom1]

I read a piece in the NY Times yesterday that seems to say it's not illegal to bet on line. Funding and withdrawing money through an online site is the illegal part when done so in the USA.
Is that correct?

Thanks
Joe M

Online wagering is not illegal if it is legal in your state. Under the Unlawful Internet Gambling Act it is illegal for financial institutions to process deposits and withdrawals form online wagering sites that are not EXEMPT under the 1978 Horseracing Amendment.

Online wagering companies like Youbet, Xpressbet, TVG etc fall under the 1978 Horseracing Amendment exemption, whereas all of the offshores do not because they either offer other forms of gambling that are not specifically exempt or do not meet other requirements that were stipulated under the 1978 Horseracing Amendment such as valid agreements with "horseracing associations" and "horsemen groups."

As a practical matter it is not illegal for you to send horseracing wagers wherever you want, but, it is not necessarily legal for someone to accept them. However, other forms of online gambling could fall under the provisions of the 1961 Wire Act. Although the intent of the law was to make it more difficult for organized crime by prohibition of wire transmissions of wagers and other information such as results, violations of the Wire Act are criminal unlike violations of the Interstate Horseracing which are civil, it's not obvious that the law does not also apply to casual gamblers.

[alysheba88]

But that's little solace if all these sites are going to stop accepting U.S. customers.

I wont argue with you there. Just pointing out the law.

Personally dont have a dime offshore anymore and wont in the future

[formula_2002]

Online wagering is not illegal if it is legal in your state. Under the Unlawful Internet Gambling Act it is illegal for financial institutions to process deposits and withdrawals form online wagering sites that are not EXEMPT under the 1978 Horseracing Amendment.

Online wagering companies like Youbet, Xpressbet, TVG etc fall under the 1978 Horseracing Amendment exemption, whereas all of the offshores do not because they either offer other forms of gambling that are not specifically exempt or do not meet other requirements that were stipulated under the 1978 Horseracing Amendment such as valid agreements with "horseracing associations" and "horsemen groups."

As a practical matter it is not illegal for you to send horseracing wagers wherever you want, but, it is not necessarily legal for someone to accept them. However, other forms of online gambling could fall under the provisions of the 1961 Wire Act. Although the intent of the law was to make it more difficult for organized crime by prohibition of wire transmissions of wagers and other information such as results, violations of the Wire Act are criminal unlike violations of the Interstate Horseracing which are civil, it's not obvious that the law does not also apply to casual gamblers.
Thanks for the information.
So where do you think congressmen are placing their bets. ;)
They are so good at skirting laws they pass, esp when it comes to campaign finance!!

[GMB@BP]

a little birdie told me betting with ANY offshore company is very risky right now....cant site the source but take it for what its worth!

[linrom1]

a little birdie told me betting with ANY offshore company is very risky right now....cant site the source but take it for what its worth!

Can you quantify more.....risk as to getting paid, or other risk such as bodily harm?

[PaceAdvantage]

a little birdie told me betting with ANY offshore company is very risky right now....cant site the source but take it for what its worth!

You don't need a birdie to tell you that....you just need a little common sense...

[rrbauer]

Do we suck on the teat of BetCris or what's with the hair lodged in the wrong pipe?

I don't know boo about BetCris or Costa Rica....And apparently neither do you.

[alysheba88]

I don't know boo about BetCris or Costa Rica....And apparently neither do you.

You dont know and you feel qualified to imply they are sound? Or at the least opposed to those saying be careful?

[bigmack]

I don't know boo about BetCris or Costa Rica....And apparently neither do you.
I spend several weeks there every year for the last 8 years. Tell ya what, I invite everyone here to open an account with BetCris in Costa Rica, they're as right as rain. Do we feel better now?