British books - NOT as safe as you think

[Jeff]

Just an FYI

It's been common in the past for players to declare that they weren't going to play in Curacao or Antigua anymore due to book failures at both locations.

Many of said they would stick to only books on the UK or Austrailia.

Turns out the UK is no different than the Carribean.

Just like Island locations, the UK licenses bookmaers, and have been doing so for many years.

However, just like the other licenses in other locations, all this license does is allows the operater to operate. It does nothing for the player should the bookmaker go out of business.

This has become clear in working on a current SLOW pay very possibly soon to be a no pay, with play121.com

So really, the only license left to be tested is the Austrailia license. As I have said many times in the past, I am skeptical of that one as well. Not to take anything away from Canbet, a great book, but it's a situation where you really don't know until it gets tested, and you hope it never gets to that point.

[Blowfish]

We all thought Wallstreet was safe because it was overseen by the SEC.....so much for that, tens of thousands of people are losing their life's savings in the current stock market stumble (Dow Jones down nearly 300 more points yesterday).

No business license looks to be very secure anymore. All you've got is your instinct and prior track record. And if you want to be damn sure you have security for your money, better suck it up and pay Uncle Sam by putting it in an FDIC insured bank.

[Parlay Guru]

UK & Australian Based Books

I agree with the whole licence uncertainty thing but their are far less books there (UK, Australia). Whereas in the carribean they seem to just pop out from anywhere. And in my opinion most of the Books who open are clueless in 1. running a business and 2. operating a sportsbook.
In the end all this does is give less credibilty to the more professional books in that area.

[Jeff]

True, but there are quite a few UK based books. More than most people realize, and many that have been around longer than the "offshore" industry has existed.

More importantly, with the UK's positive stance towards online gaming, many more books figure to be located there in the future.

I'd just like to see some sort of a system in place that protects the players, similar to Nevada......

[LoboLoco]

there is a thread about internet gambling rules on here. it would be good for the books and the customers. it is coming because customers are getting too nervous.