Olympic-first thoughts

[wannabe whale]

I always give a new out a trial run. There is no way I dump my hard earned cash without checking a place out. I put in a small amount and then I see how they treat the small player. If I like what I see then I will add my normal sum. Here are my first thoughts on OLYMPIC
I like their different variety of plays. However, why only post 2nd and 3rd period lines in the NHL before the game starts???
These should be posted after the period-not before the game. Who is going to bet the 2nd period without seeing how the game is going?? Be smart and realistic.
Customer service reps have been RUDE both times I talked to them. I guess a $300 dep is not big enough.
Money is posted pretty quick to your account-nice touch.
I love to bet online-service has been down for over 1 hour tonight-not acceptable during a busy SAT night of sports.
I am torn whether to stay or try others-any opinions??

[club soda kenny]

We're in the same boat Whale.

I just joined Olympic two weeks ago and have had nice things to say. Large variety of lines, interesting props, and most of all an outstanding web interface with no downloads.

The phone ops aren't exactly friendly, but all my wagering with them has been online.
I have two local outs and don't have a need to phone bets in to them.

It was an odd time for their site to go down,
I'm sure they are working to correct the problem 'cause it can't benefit them any.

Obviously if the site goes too much, players will transfer their accounts to other books.
Let's see how long it takes to fix it and if they have an explaination when the site comes up.

I dig your hockey thread by the way.

[ageecee]

Whale-Been with Olympic over a year and havent had any problems. Just this week there phone lines were down and i had the international phone 3 and called it and placed my withdrawal with no problem. Before i called them i e-mailed them and told them i wanted a withdrawal before the 11:00 central Time cutoff period. they e-mailed me back and said no problem-withdrawal will be taken care of. got my money the same day. Only problem i have is not enough english speaking clerks and phone lines are busy during crunch time. Thats why i wager online with them. All disputes have been in my favor. They credit your account as soon as a game is finished and most of all they payout same day WU which i like. Stick with them another month and see what happens.

[phaedrus]

You are right though their clerks are for lack of a better term "un-friendly". Especially on the non credit side.

That is why i do all my wagering online with them and have never had a problem with the site being down.

[This message has been edited by phaedrus (edited 11-06-1999).]

[phaedrus]

I stand corrected, the site was (is) down/

[This message has been edited by phaedrus (edited 11-06-1999).]

[walleyek]

I too like Olympic's wagering options. There web interface is one of the best (still think Carib's is the most intuitive out there). My only concern with Olympic is that they're in Jamaica. If there's ever a country that would supply information to the US Gov't, it would be Jamaica. I'd breathe easier if they were in Antigua or Costa Rica instead.

[club soda kenny]

Walleyek, just curious about your concern. As of now, online wagering is legal..is your concern regarding reporting of winnings, etc. and tax implications?

Personally, I haven't considered their location as a possible problem. But I don't bet enough for disclosure of my winnings to be an issue.

My understanding is that winnings only over a certain amount on a single ticket or bet need to be considered for taxes, not cumulative winnings over a period of time.

[walleyek]

My concern is with taxation. USA and Jamaica are politically tight. If the US government someday asked for names and numbers, they probably wouldn't hesitate to oblige.

[MAXIMUM VALUE]

Interesting subject on taxation.

I too have yet to get a big enough payout to raise a red flag.

Anyone ever had any problems regarding this issue?

This could be very helpfull if I can ever get my bankroll over the hump.

[reno]

Regarding taxation and the IRS, I just received some unsettling news from the local mailbox place that I use for sending my Western Unions to offshore books. According to the lady that owns and operates this mailbox place, if the total amount of the Western Unions exceeds $8,000, she has to fill out a report for Western Union. All the while, I have made it a point to avoid sending more than $10,000 at a time, and now I find out that the innumerable times that I have sent a total of $8,000 to $9,900, a report has been filed. Wonderful. I'm currently being audited for two different years from the IRS, and now I bet I'll get audited again. If my current audit turns out poorly, I'm outta this country.

[chestrockwells]

A couple of months ago I mentioned some concerns about the issues that Reno and others are raising regarding Western Union and the "flow of cash". Not to seem too overly paranoid but one of the issues that is almost never brought up here is what people do with payout checks. Since cashing them at check cashing type places can put a hole in your wallet, I would suspect that most people deposit them or go to their bank and have them cash it. Both methods have potential negative aspects to them, especially if the amount is 3K or over. I'm not sure how specific I want to get, this being a open forum and all, but suffice it to say that for many obvious and otherwise reasons, multiple transactions of this type, in a short time span, should be seriously avoided. Another potential hassle that recently occurred is the ongoing Federal investigation over at Bank of New York. A number of books including very reputable ones use Bank of Nevis in St.Kitts & Nevis. Bank of Nevis in turn cuts our payout checks from Bank of New York. It is my understanding and opinion that all offshore accounts at Bank of New York are being scrutinized above and beyond the normal level, given the Russian scandal etc. Whether a four figure check from them to you or me raises red flags or not, who knows. It may however cause your bank to look at you a bit sideways....or more sideways than usual. One thing that makes this whole "movement of cash" that we do, suspicious, is that it seems no one carries cash. I don't know Reno, but I'd bet that he's never stood in line at Western Union and seen anyone sending more money than him. I know it's never happenned to me, and I've never sent more than 2 grand. Didn't mean to write a book but I think a lot of these are real issues that are far more serious for those of us who bet more than the casual amount.

[MAXIMUM VALUE]

Reno

Sorry to hear about that.

Have you ever had any problems on the other end (recieving funds)?

There has to be a way to get around all that bul l shi t.

Anyone have any good ideas????

[chestrockwells]

I'm a bit surprised and frankly disappointed that no one has any reactions or imput to my admittedly lengthy and probably gloomy previous post. Perhaps this is not the right place to bring up these types of issues. My only intent is to add to the body of knowlege and hope that some of you who have given these matters some thought share with us as well, thereby enriching us. I would like to think, that as a group we have the ability and interest to discuss matters more serious than opening bonuses and down servers.

[mikren]

Not that I would know but it would occur to me that if someone was playing large enough they could make all deposits via cashiers check and make all transfers directly from book to book or by endorsing a payout check to another book, if necessary. If you are playing big enough to be concerned about taking payouts, then it would probably be worth it to just visit the islands and collect in person. This probably sounds stupid to most of you, but its the only way to conduct business without a paper trail.

[ShiftySheik]

I've been looking into opening an account with an offshore bank. Any suggestions? The banks in Antigua have high service fees but I guess that's the case with any offshore bank. They all offer Visa/MC debit cards which seems like a good way to move money into the states without raising any red flags.