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There has been much speculation over the past 2 months with regards to Alladinsgold, my character, other sportsbooks, and in general the present conditions and future of the industry. Today I speak to you the only way I have ever known, the way it is! Just so you understand who I am, it is important to go back to the very begining of this company. I was asked to set this book up from scratch for an investor who had a major position in a usenet portal which claimed to have lots of traffic. Upon setting this book up the operators of the portal never seemed to get it right and the traffic never came. With money invested, staff hired and no clients, I suggested that we introduce the book to a few players. It all started quite good but slowly turned sour. At such time when the first payouts required the investors claimed a shortage of funds. So that you must know I could have walked then, but I didn't! I went to the bank and decided to throw some money at it. My intention was very simply to rebuild a business that would be sellable so that I could retrieve monies already tied up and to return the original investors their capital as well. With a few out standing months we were almost there, but the client base was still wasn't.
I chose to advertize on Bettorsworld and Major Wager taking the advice of Reno who suggested that this might be an avenue to get clients. At first all went well and we grew based on recommendations and players confidence in me..........an asset I once enjoyed. Today there has been so much speculation and I have read into comments regarding my character and others regarding business principles. Many posters have argued that books are playing with clients money or as they say dipping into clients accounts. I cannot speak for others but i would bet my bottom dollar that very few if any actually set aside all of your monies in an actual account. If they did that, it may not necessarily be the smartest move. Some, as in my case, may invest in the markets, others may have fixed deposits etc. Without looking for a scapegoat, 9-11 hurt me just as much as any other. I never cried or complained , I just moved on. Everyone claims " it's our money" and in fact it is. But yesterday it was and today it is still yours plus a bit of ours. When that scenario happens too often then a problem starts to arise. What is the sportsbook to do, close because they have had a few losing nights or even weeks? Most will ride it out.
Now many have claimed that they are still awaiting payment from Alladin and they will get it. Today as everyday we send out payments to clients........some who have complained all along and some who have waited since their original request. The point being that whether clients call a hundred times or once, they are being paid! I expect my situation will be somewhat surpressed for at least another 3 weeks. I have been assured of this! My phones have never rung so often in the past. There are clients who have called my cell phone incessantly. Again you are not achieving anything except frustrating the both of us. I am quiet aware of who I owe and when. My biggest fault in here is to promise payment to persons expecting others to deliver on their promises of assisting me. I have been let down so many times during this whole charade. The difference here is that I have personal assets that will certainly cover my debt, unfortunately you don't simply turn them into immediate cash. To date I have upheaved the lives of monority partners in my other businesses, forcing their sales TO PAY YOU! Again I could simply pack up shop and walk.
Many of you are screaming for the other books to save the industry. You can scream until your lungs burn up, it will never happen. In fact many of these institutions already have your business and need not take on additional debt. Some are already in pretty bad shape themselves. Some I am ashamed to admit would like to see the smaller books go down. Short memories I would say because they have forgotten their own beginnings. In my case I am aware that some of these shops have called up mutual clients and encouraged them to write letters to the Directorate of Offshore Gaming and demanding they shut down Alladin. Another shop has written a letter asking them to wind up this company. I know who these folks are and it is sad to say that at one time or another I have come to their assistance. Again, short memories, for the people you pass on the way up are same ones you pass on the way down! I can only tell you that if this were to happen then the only ones to lose would be you the players. In fact I would save myself all of the monies I intend to reinvest in your settlements. In fact I have cooperated with the Directorate and they have monitored my settlements throughout.
I have made a number of attempts to other sportsbooks to purchase Alladin........even offering to give cash to anyone willing to assume the debt and continue trading. They have all turned it down. So what I am saying is that no one wants you guys! The bottom line is at least for a few more weeks you are stuck with me and we're just going to have to dance. I have made the necessary changes and allegiances that will assure Alladin a less sophisticated customer base. Many of you have criticised my attempts to drum up new business. So I ask you, how am I to pay you if I am not allowed the opportunity to bring in new business. Perhaps upon your criticisms I should just shut this company down and everyone suffers. If you have no confidence in Alladin then don't send money there. I can assure you many of the now very large firms have been where I am today. I have got confidence in myself, the will and the rescources to pull this one through. I have been advised countless times to close the doors and walk away and I won't do so voluntarily.
For those of you looking for a mystical savior good luck. The only saviors of the industry are yourselves. I say this because the failings here are a lack of patience, too much greed and your lack of understanding of the industry upon which you thrive. Lack of patience because you want to be paid immediately especially after you have just beaten the hell out of XYZ sportsbook, and not allowing them the opportunity to recover. If so then stay well away from the smaller shops that cannot afford you. Greed because you are looking for a free juice or .5 point deal and or bonuses. Some of you may not be able to get down enough so you need a few beards. In the case of sportsbooks betting, they are not happy with the amount of action they have attracted in their own shops by moving the number, so they want more. I can't tell you how many sportsbooks accounts we have uncovered in here. Your lack of understanding of the industry because you all assume the bookmakers are simply raking in tons of money. You never stopped to think of their investments in advertizing that was money down the drain, or the sindicate that cost you hundreds of thousands in credit card charge backs, or the customer that sent you 50k in fraudlent checks, or the number that fell on a game because you tried to achieve ballanced action. If you assess your own betting habits and at the end of the day the result is a positive then you are a liability to a sportsbook. I can only guess that 95% of you in this forum falls in that category.
I have tried to paint you the picture as best as I can. There is no smooth talk here or colorful rhetoric to get your sympathy. It is the way it is. I spoke with a client yesterday and he suggested that if I got through this I would really look good. I told him not if, but when! The pressures of weeks gone by on my staff has caused at least one to be admitted for medical attention. Nigel is truly unable to perform at his best, and many are very concerned for me. I have carried a monkey on my back for some time now and in fact some days it is tough to encourage them to keep faith. Alladin may be down and out, but I am not. It is the way it is!
Regards
Eddie
I chose to advertize on Bettorsworld and Major Wager taking the advice of Reno who suggested that this might be an avenue to get clients. At first all went well and we grew based on recommendations and players confidence in me..........an asset I once enjoyed. Today there has been so much speculation and I have read into comments regarding my character and others regarding business principles. Many posters have argued that books are playing with clients money or as they say dipping into clients accounts. I cannot speak for others but i would bet my bottom dollar that very few if any actually set aside all of your monies in an actual account. If they did that, it may not necessarily be the smartest move. Some, as in my case, may invest in the markets, others may have fixed deposits etc. Without looking for a scapegoat, 9-11 hurt me just as much as any other. I never cried or complained , I just moved on. Everyone claims " it's our money" and in fact it is. But yesterday it was and today it is still yours plus a bit of ours. When that scenario happens too often then a problem starts to arise. What is the sportsbook to do, close because they have had a few losing nights or even weeks? Most will ride it out.
Now many have claimed that they are still awaiting payment from Alladin and they will get it. Today as everyday we send out payments to clients........some who have complained all along and some who have waited since their original request. The point being that whether clients call a hundred times or once, they are being paid! I expect my situation will be somewhat surpressed for at least another 3 weeks. I have been assured of this! My phones have never rung so often in the past. There are clients who have called my cell phone incessantly. Again you are not achieving anything except frustrating the both of us. I am quiet aware of who I owe and when. My biggest fault in here is to promise payment to persons expecting others to deliver on their promises of assisting me. I have been let down so many times during this whole charade. The difference here is that I have personal assets that will certainly cover my debt, unfortunately you don't simply turn them into immediate cash. To date I have upheaved the lives of monority partners in my other businesses, forcing their sales TO PAY YOU! Again I could simply pack up shop and walk.
Many of you are screaming for the other books to save the industry. You can scream until your lungs burn up, it will never happen. In fact many of these institutions already have your business and need not take on additional debt. Some are already in pretty bad shape themselves. Some I am ashamed to admit would like to see the smaller books go down. Short memories I would say because they have forgotten their own beginnings. In my case I am aware that some of these shops have called up mutual clients and encouraged them to write letters to the Directorate of Offshore Gaming and demanding they shut down Alladin. Another shop has written a letter asking them to wind up this company. I know who these folks are and it is sad to say that at one time or another I have come to their assistance. Again, short memories, for the people you pass on the way up are same ones you pass on the way down! I can only tell you that if this were to happen then the only ones to lose would be you the players. In fact I would save myself all of the monies I intend to reinvest in your settlements. In fact I have cooperated with the Directorate and they have monitored my settlements throughout.
I have made a number of attempts to other sportsbooks to purchase Alladin........even offering to give cash to anyone willing to assume the debt and continue trading. They have all turned it down. So what I am saying is that no one wants you guys! The bottom line is at least for a few more weeks you are stuck with me and we're just going to have to dance. I have made the necessary changes and allegiances that will assure Alladin a less sophisticated customer base. Many of you have criticised my attempts to drum up new business. So I ask you, how am I to pay you if I am not allowed the opportunity to bring in new business. Perhaps upon your criticisms I should just shut this company down and everyone suffers. If you have no confidence in Alladin then don't send money there. I can assure you many of the now very large firms have been where I am today. I have got confidence in myself, the will and the rescources to pull this one through. I have been advised countless times to close the doors and walk away and I won't do so voluntarily.
For those of you looking for a mystical savior good luck. The only saviors of the industry are yourselves. I say this because the failings here are a lack of patience, too much greed and your lack of understanding of the industry upon which you thrive. Lack of patience because you want to be paid immediately especially after you have just beaten the hell out of XYZ sportsbook, and not allowing them the opportunity to recover. If so then stay well away from the smaller shops that cannot afford you. Greed because you are looking for a free juice or .5 point deal and or bonuses. Some of you may not be able to get down enough so you need a few beards. In the case of sportsbooks betting, they are not happy with the amount of action they have attracted in their own shops by moving the number, so they want more. I can't tell you how many sportsbooks accounts we have uncovered in here. Your lack of understanding of the industry because you all assume the bookmakers are simply raking in tons of money. You never stopped to think of their investments in advertizing that was money down the drain, or the sindicate that cost you hundreds of thousands in credit card charge backs, or the customer that sent you 50k in fraudlent checks, or the number that fell on a game because you tried to achieve ballanced action. If you assess your own betting habits and at the end of the day the result is a positive then you are a liability to a sportsbook. I can only guess that 95% of you in this forum falls in that category.
I have tried to paint you the picture as best as I can. There is no smooth talk here or colorful rhetoric to get your sympathy. It is the way it is. I spoke with a client yesterday and he suggested that if I got through this I would really look good. I told him not if, but when! The pressures of weeks gone by on my staff has caused at least one to be admitted for medical attention. Nigel is truly unable to perform at his best, and many are very concerned for me. I have carried a monkey on my back for some time now and in fact some days it is tough to encourage them to keep faith. Alladin may be down and out, but I am not. It is the way it is!
Regards
Eddie
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