Insured Books

[stardust]

I see on the WWTS site, they claim to be "insured." Of course when you click on the link, it just goes to a generic, welcome page.

I sent an email about two weeks ago, asking about their insurance. Like who insures the accounts and for how much.

Naturally, I got no response.

Maybe they'll see the post and respond here.

Anyone know anything about the insurance they have?

Personally, I'd like to see the policy.

[Dragon]

It's an advertising gimmick. There are no books that are insured against LOSING. They are insured in case of catastophic events, such as hurricanes and what not, that's all.

[stardust]

If that's the case, they need to remove the line from their site that says"All Accounts Insured," certainly suggests your deposit and balance are insured.

Jeff!? Any idea if they are insured as they suggest?

[stardust]

If that's the case, they need to remove the line from their site that says"All Accounts Insured," certainly suggests your deposit and balance are insured.

Jeff!? Any idea if they are insured as they suggest?

[Blowfish]

I think at one point Insurance Agencies that insure just about anything were insuring sportsbook accounts. Now I believe that they had stopped doing that and some of the books just failed to remove the line from their site. Lloyd's of London used to insure, but I imagine the fees now would be pretty hefty due to all the closures.

[stardust]

Top . . . calling Jeff . . . calling Jeff . . .

[Jeff]

Sonny, I think they may be insured in some way but it's probably not what people think. I don't think any insurance company would insure a bookmaking operation against losses. It would take a thorough knowledge of bookmaking in general, by the insurance company.

If Dragon is right and accounts are insured against a catastrophy then I don't think they should have to remove anything.

[sportshobby]

Is WWTS no longer participating in this forum ?

[stardust]

Well they should clarify what the insurance covers, respond to questions and/or posts.

The way it is phrased is certainly misleading.

[HotPants]

Why doesn't someone call Bill Scott or a manager and point it out and ask them since they either don't read the forum or are choosing not to respond?

[stardust]

Ok - after some thought, I have to say that you are half right here Jeff. You said:

"Sonny, I think they may be insured in some way but it's probably not what people think."

You're right about that, and you could also argue that it's not what they want people to think.

Anybody wanna tell me what inference your average person draws from a claim of "All Accounts Insured"?

So if you saw that sign on a bank, a place you send money, you'd imagine your account was insured against the head teller running off to Barbados with your cash right!?

But if you see that sign on a sports book, also a place you send money, you'd imagine what exactly?

"All Accounts Insured" has a fairly clear meaning in my mind. I don't see any ambiguity there.

So now we have two books, solid as they come by all accounts, touting the facts that your account (and all accounts) is insured.

The trouble with that statement is that neither book will clarify what the hell that means. Either your money is insured against them going belly up, or it's not. What's so hard about that? I'm beginning to wonder what the definition of "is" is here.

To make claims you can't, or won't back up, is outright fraud. It would be great if books were insured, but since they aren't, they shouldn't be able to claim they are without proof.

Since I already sent several emails to WWTS, I am concluding they don't want to respond?

[Blowfish]

This is an easy one. If they aren't answering E-mails, someone CALL them on the phone, get a manager or a supervisor or even Bill Scott on the phone and ask who insures them and for what.

If they pause, beat around the bush, or otherwise try to avoid the question, then the answer is obvious. They themselves are insured in case a hurricane whips through their building and destroys all their equipment, but the accounts are not. I would love to see how they keep up the insurance amount since you'd have to keep upping the amount insured as your post up balance increased. The insurance company would no doubt have to have a cap or some proof of the amount. Since sportsbooks appear one day and disappear the next, this would seem like a highly risky thing to insure.

If someone doesn't call and ask, I will.

[Checkers]

THE WAY IT IS+=+=+=+=+=+=+=+=

HERE ARE THE FACTS RE SO-CALLED SPORTSBOOK INSURANCE:

WWTS CLAIMS IN SOME OF ITS ADVERTISING THAT LLOYDS OF LONDON INSURES WWTS ACCOUNTS...THIS IS A LIE, PURE AND SIMPLE...LLOYDS WAS CONTACTED AND THEY DO NOT INSURE ANY SPORTSBOOKS BECAUSE OF THEIR QUESTIONALBLE LEGALITY...LLOYDS IS OF THE HIGHEST INTEGRITY, DO YOU FOR ONE MINUTE THINK THEY WOULD JEOPARDIZE THAT REPUTATION BY GETTING MIXED UP WITH OFFSHORES? WE KNOW WWTS ADVERTISES HERE BUT THE FACTS ARE THE FACTS: THEY LIE! LLOYDS DOES NOT INSURE THEM OR ANY OTHER SPORTSBOOK...CALL LLOYDS YOURSELF AND FIND OUT...

OTHER SPORTSBOOKS USING THE SAME SCAM AND CLAIMING LLOYDS INSURES THEM ARE NASA SPORTS INTL (BIG NASA), WALL STREET SUPERBOOK AND LOOSE LINES, AMONG OTHERS...NASA IS CURRENTLY BEING SUED BY LLOYDS FOR MULTIMILLIONS FOR MAKING THE CLAIM IN SEVERAL ADS THAT RAN IN FOOTBALL MAGS...

BOTTOM LINE: AVOID ANY BOOK THAT HAS TO LIE ABOUT SUCH A THING TO GET CUSTOMERS...LYING=CHEATING=STEALING YOUR MONEY WHEN YOU WANT IT

[Blowfish]

OK, that pretty much means we can't play anywhere.

[Checkers]

?