The Problem with the Offshore Industry

[Parlay Guru]

Hello everyone,

This is my first post. I've been betting in the offshore industry since 1998, I now feel its time to voice my opinion about the closure of these books.

When Caribi went under, I was surprised but I thought its no ig deal since there are many, many more solid books out there.

Now with the closure of Sport-Market, which I believed were Huge and Sharp, Made me rethink the whole offshore industry.
Alladins upset really shocks me because I thought Eddie new what he was doing. He always sounds confident and secure.

The Problems I believe are:
1. There are too many offshore books out there
2. Problably 92% of the Offshore Books got into the industry thinking that bookmaking is easy, all you have to do is quote the line. Guess what there wrong.
3. Poor Management of post up funds and insufficient funds for credit players

Recommendation
1. Don't more action then your capable of, offload it if you have to.
2. If your a bookmaker who thinks the industry is easy, sell your book immediately before you shake up the offshore industry even more.

[Jeff]

I don't know that there are too many books out there, but there might be too many that don't have a good handle on how to run an offshore book. Which of course is a problem.

You're recomendations, in my opinion, are right on the money. I believe it's still possible for a book to come in and operate within their means successfully. I don't think you have to be able to claim to be the biggest book in the world or need to claim you take the biggest bets in order to succeed.

There are plenty of books that don't operate that way and are incredibly successful.

I think there's little doubt that Intertops is one of THE most solid offshore books in existence. They don't suit everyones needs and take plenty of criticism from so called "sharp players" but then, so what.

[PerpetualCzech]

Jeff, Agree about Intertops. While I don't like some of their policies from a player standpoint, I have to admit they are the ones I would use as a model most if I were running a sportsbook.

[Parlay Guru]

I agree, though there one of books who don't like losing.

They weed out the winners.

To each his own.

[sportshobby]

Parlay, I agree with your concerns. I also have operated with postup accounts for several years. With the bankuptcy of several books this year I have become very skeptical. This was not just another questionable book offering 30% bonuses, against the better judgement of good watchdog sites like Bettorsworld. For me, this was the year that both the offshore sportsbooks and the watchdog sites let me down. I am sorry to say that to Bettorsworld, but it is the truth. I thought as long as I stayed tuned to those "in the know" and followed the internet gossip then I would avoid those losses.

[Parlay Guru]

sportshobby

I couldn't agree with you more. One would think that the the top watchdog sites like Bettorsworld, Majorwager, and the Prescription would have been on top of the game.

I think everyone just started getting comfortable with the industry, and skeptism went down.

Its time now for the the watchdog sites to step it up.

[oddsmaker]

Dear Parlay

I am beginning to blieve that signing up with a particular book is a wager in itself. It takes deductive reasoning, market study and (these days) a quota of luck. I have had my share of wins and losses, but I have been lucky enough that the books I usually deal with do pay a winning streak. One of my secrets is that I do not try to be a sharp player in the sense of placing big amounts of money on the sides. I wager quite a bit by laying nickels and dimes nothing exotic. But I would like to suggest a few pointers on how to stay ahead of the game as far a closing shops is concerned.

The watchdogs of the Industry may or may not help you, this pretty much depends on how you perceive the data they report.

1. A shop making slow payouts may mean financial trouble in the near future. Not always the case but most likely.

2. Starting April is the Industry's low season since the action drops considerably in ralation to the better football season. So from April to September some shops that are struggling will try to sell or merger with the more solid shops that did plan ahead for the low season.

3. Create a set of questions when openning an account that can test the degree od expertise of that particular shop. Around ten key questions should do the job.

4. You seem to be keen with your instincts, I would urge you to follow them and when needs be ask questions in the forum, if the watchdog does not know something in particular, I know somebody will come up with the proper answer that will suit your needs.

Please think about this and I wish you happy hunting in the wilderness of sportswagering.

GOOD LUCK!!!!