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SAN JOSE, Costa Rica, June 27 /PRNewswire/ -- The burgeoning offshore gaming industry is taking a giant leap forward, as an international sportsbook known to insiders for its impeccable reputation has opened its doors to the public via a new office that will accept post-up business.
(Post-up wagering accounts are similar to accounts with brokerage firms in which clients post up funds which are then used at the client's discretion. Accounts at Grande Sports may grow or diminish, and activity is limited to the amount of funds in the account. The balance or any parts thereof may be requested at any time and are usually in the hands of customers within 24 hours.)
Grande, a pioneer in the offshore industry, has provided first-class worldwide service to professionals and betting syndicates since 1989. Now, Grande Sports ( www.BetGrande.com ) is servicing post-up players through online and toll-free phone sports wagering accounts.
The company, whose name is well known to savvy sports bettors who monitor its lines on the Internet, heretofore had a policy of declining new customers who wished to open post-up accounts.
However, after years of operating as arguably one of the largest and most successful independent sports betting business in this hemisphere, Grande is responding to popular demand that it offer service to a wider audience. Grande Sports will specialize in handling action from casual and recreational players via the Internet.
"It's silly to keep telling players that we can't help them," said the company's founder and lead bookmaker, Skip Purcell. "We're opening a new office and will let those people play," he added.
Since its first day of operation, Grande earned a reputation for taking on all comers, paying customers promptly and providing quality service to a most discriminating and demanding market. "The sharp professionals and syndicates all bet with us," said Purcell.
This is in contrast to many offshore sportsbooks which sharply limit or refuse such business. These bookmakers prefer to exclude wiseguy action because of their proven negative impact on the bottom line. Las Vegas sportsbooks are notorious for adhering to this policy.
Grande, which is run by seasoned professionals, is successful, explained Purcell, because, "We move our numbers according to the play we get, back and forth. You have to stay on top of it, but the business has worked out well for us."
Grande believes it will deliver a new level of service and stability to the offshore gaming industry. Unlike some books, which try to discourage sharp action during the baseball season, Grande Sports is dealing a true 10-cent line to baseball bettors. This policy of fair vig will be reflected throughout its wagering menu.
One unique innovation to be implemented by Grande Sports will be a monthly public statement of its post-up funds held in an escrow account, verified and authenticated by a leading audit firm. "A full 100% of our players' deposit monies will be held in escrow, at all times," said John Kellogg, administrative director. "Grande will never use players' deposits to float advertising, administrative or any other costs."
"Our commitment to protect the integrity of players' deposits is what separates Grande from many other financially weaker sportsbooks, many which can't afford to incorporate such strict financial disciplines into their operations," Kellogg added.
From the offshore industry's origins in the mid-1980s, through the last 10 years when the addition of online gaming caused volume to explode, the wagering public has embraced this concept. The size of the industry today is estimated at $3.1 billion, according to Christiansen Capital Advisors LLC analyst Sebastian Sinclair. By 2003, CCA projects industry volume to more than double to $6.3 billion. Other estimates are even more optimistic.
According to U.K.-based SportsBusiness Group, there are 1,800 online gaming operators worldwide.
Many of the offshore sportsbooks are located in the Caribbean and Central America. In Costa Rica, for example, sportsbooks generate more employment than the Intel Corp., according to Costa Rican Electronic Betting Association president Eduardo Agami. "About 4,500 locals work in this industry which is not only an economic windfall, but also is a tremendous incentive for workers who seek jobs with a future," he stated.
The U.S. market is targeted since the only location where legal sports wagers may be placed by residents is in Nevada sportsbooks.
The notion of servicing American sports bettors from far away jurisdictions took a little while to catch on. But today, tens of thousands of customers routinely wager on sports with offshore bookmakers.
To quantify sports betting and put it in perspective, we'll cite data that was made public during congressional hearings on proposed anti-gaming legislation.
Witnesses testified that the amount of illegal sports betting that is handled annually in the U.S. is $350 billion. Compare that figure with the mere $2.5 billion in legal sports wagers taken in by Nevada sportsbooks.
"Betting with offshore books is a major step up from having to deal with illegal bookmakers," observed Buzz Daly ( www.buzzdaly.com ), publisher of Players' Guide to Sports Books, an annual magazine, and Players' Choice, a sports betting tabloid.
"This convenience is welcomed by American sports bettors because we are not inclined to accept arbitrary constraints that limit the choices of indulging our lifestyle. The option of either betting with illegal bookies or not betting at all is just not acceptable. Certainly, not everyone who wishes to bet on sports can simply pick up and move to Las Vegas.
"The entry of a highly regarded, first-class shop like Grande Sports into the post-up arena is good news for sports bettors. The cognoscenti are chomping at the bit, waiting for it to go online and open its phones for business.
"But the real winners figure to be the vast array of Internet recreational players who will be able to wager with a well-funded company whose professionalism, diverse betting menu and courtesy make the betting experience truly memorable."
(Post-up wagering accounts are similar to accounts with brokerage firms in which clients post up funds which are then used at the client's discretion. Accounts at Grande Sports may grow or diminish, and activity is limited to the amount of funds in the account. The balance or any parts thereof may be requested at any time and are usually in the hands of customers within 24 hours.)
Grande, a pioneer in the offshore industry, has provided first-class worldwide service to professionals and betting syndicates since 1989. Now, Grande Sports ( www.BetGrande.com ) is servicing post-up players through online and toll-free phone sports wagering accounts.
The company, whose name is well known to savvy sports bettors who monitor its lines on the Internet, heretofore had a policy of declining new customers who wished to open post-up accounts.
However, after years of operating as arguably one of the largest and most successful independent sports betting business in this hemisphere, Grande is responding to popular demand that it offer service to a wider audience. Grande Sports will specialize in handling action from casual and recreational players via the Internet.
"It's silly to keep telling players that we can't help them," said the company's founder and lead bookmaker, Skip Purcell. "We're opening a new office and will let those people play," he added.
Since its first day of operation, Grande earned a reputation for taking on all comers, paying customers promptly and providing quality service to a most discriminating and demanding market. "The sharp professionals and syndicates all bet with us," said Purcell.
This is in contrast to many offshore sportsbooks which sharply limit or refuse such business. These bookmakers prefer to exclude wiseguy action because of their proven negative impact on the bottom line. Las Vegas sportsbooks are notorious for adhering to this policy.
Grande, which is run by seasoned professionals, is successful, explained Purcell, because, "We move our numbers according to the play we get, back and forth. You have to stay on top of it, but the business has worked out well for us."
Grande believes it will deliver a new level of service and stability to the offshore gaming industry. Unlike some books, which try to discourage sharp action during the baseball season, Grande Sports is dealing a true 10-cent line to baseball bettors. This policy of fair vig will be reflected throughout its wagering menu.
One unique innovation to be implemented by Grande Sports will be a monthly public statement of its post-up funds held in an escrow account, verified and authenticated by a leading audit firm. "A full 100% of our players' deposit monies will be held in escrow, at all times," said John Kellogg, administrative director. "Grande will never use players' deposits to float advertising, administrative or any other costs."
"Our commitment to protect the integrity of players' deposits is what separates Grande from many other financially weaker sportsbooks, many which can't afford to incorporate such strict financial disciplines into their operations," Kellogg added.
From the offshore industry's origins in the mid-1980s, through the last 10 years when the addition of online gaming caused volume to explode, the wagering public has embraced this concept. The size of the industry today is estimated at $3.1 billion, according to Christiansen Capital Advisors LLC analyst Sebastian Sinclair. By 2003, CCA projects industry volume to more than double to $6.3 billion. Other estimates are even more optimistic.
According to U.K.-based SportsBusiness Group, there are 1,800 online gaming operators worldwide.
Many of the offshore sportsbooks are located in the Caribbean and Central America. In Costa Rica, for example, sportsbooks generate more employment than the Intel Corp., according to Costa Rican Electronic Betting Association president Eduardo Agami. "About 4,500 locals work in this industry which is not only an economic windfall, but also is a tremendous incentive for workers who seek jobs with a future," he stated.
The U.S. market is targeted since the only location where legal sports wagers may be placed by residents is in Nevada sportsbooks.
The notion of servicing American sports bettors from far away jurisdictions took a little while to catch on. But today, tens of thousands of customers routinely wager on sports with offshore bookmakers.
To quantify sports betting and put it in perspective, we'll cite data that was made public during congressional hearings on proposed anti-gaming legislation.
Witnesses testified that the amount of illegal sports betting that is handled annually in the U.S. is $350 billion. Compare that figure with the mere $2.5 billion in legal sports wagers taken in by Nevada sportsbooks.
"Betting with offshore books is a major step up from having to deal with illegal bookmakers," observed Buzz Daly ( www.buzzdaly.com ), publisher of Players' Guide to Sports Books, an annual magazine, and Players' Choice, a sports betting tabloid.
"This convenience is welcomed by American sports bettors because we are not inclined to accept arbitrary constraints that limit the choices of indulging our lifestyle. The option of either betting with illegal bookies or not betting at all is just not acceptable. Certainly, not everyone who wishes to bet on sports can simply pick up and move to Las Vegas.
"The entry of a highly regarded, first-class shop like Grande Sports into the post-up arena is good news for sports bettors. The cognoscenti are chomping at the bit, waiting for it to go online and open its phones for business.
"But the real winners figure to be the vast array of Internet recreational players who will be able to wager with a well-funded company whose professionalism, diverse betting menu and courtesy make the betting experience truly memorable."