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Offshore Books’ Thirst for New Biz Puts Onus on Players to Choose Wisely
Is there an identifiable theme underlying the offshore sports betting industry’s approach to satisfying its insatiable thirst for new business? If so, inquiring minds want to know.
The distinct trend that we have noticed is that every day, it seems, our email box is deluged with unsolicited offers from online sportsbooks whom we have never heard of, giving us fantastic deals and incentives to open an account with them. We are supposed to ignore the irrational economics inherent within these offers. After all, lots of others will lose so that those few of us who are winners can get paid, right?
On the other hand, some books understand the principle of seeking new business by offering attractive incentives that are also prudent. These books realize there are times when the players win, and win big. So new business come-ons are designed to add players who are looking for all they can get in a buyer’s market, but who wish to do business with a bookmaker who will be around for a while.
We can’t highlight all the deserving books who have taken the time and effort to go after new business by being both innovative and responsible, but we’ll cite a representative example.
One guy who goes to the head of the class has to be Randy Scott, CEO of Pre-Game Sports Exchange, who says it has been around since February 2002. He has created, developed, invented what he describes as “a New Age product for gamblers of all sizes” called the Triple Play Bonus Calculator.
When we checked it out online, it looked to us like a New Age Rube Goldberg device, but we were intrigued.
Scott hangs out with the right people in Costa Rica, and we made the assumption that a shop that’s been in business for a year could easily be driven to devise a new business incentive with a bunch of bells and whistles.
What exactly is the Triple Play Bonus calculator?
We couldn’t figure it out, so we’ll let Scott explain.
Q. How does the bonus calculator work?
A. Three easy steps:
1. Enter the deposit amount being considered.
2. Choose between Stipulations or No Stipulations.
3. Pick 3 of the available bonus options (roll mouse/cursor over each bonus category for bonus definition).
Some options will be blocked from being selected depending on the amount entered and the stipulation of choice. The Triple Play Bonus Calculator is designed to maximize incentives for the big players and the smaller players. Customers are encouraged to test the different options available on the calculator using different deposit amounts under Stipulations and under No Stipulations. We are sure that the player will find a bonus plan that suits them.
After the player has configured a custom bonus plan, they can receive a copy via email by clicking “save copy” and entering their email address. When the player is ready to make a deposit, they can refer to the copy saved in their email and claim the custom bonus structure by forwarding a copy of the Triple Play to us at [email protected]. Upon confirmation of the deposit, the player’s account is promptly upgraded with the proper selections.
Q. Also, tell us why this is a more fiscally responsible approach to obtaining customers than that of some shops offering incentives which are designed to knock a bettor’s socks off.
A. Most players rely on sportsbooks to be responsible with the bonuses they offer, and unfortunately some aren’t. It’s never really known whether the book that offers extreme bonuses can honor what they are promoting until it’s too late. So why take that chance before you start wagering? Offering competitive bonuses without giving away the shop is a challenge which we are meeting with the Triple Play Bonus Calculator. Technically, it empowers the players to choose their own bonus structure in a format that is competitive with today’s market and manageable within Pre-Game’s financial structure.
All combinations that the players may choose from has been considered and pre-approved, with the security of our current customer’s funds and our business in mind.
The Triple Play Bonus Calculator eliminates the middleman, the confusing sales reps on the telephones, and allows players to customize their bonus plan online … on their time.
While we chewed that over, we asked Randy a few questions to get a better handle on him and his book.
Q. Why did you decide to open up a book?
A. From our point of view, there is still a lot that can be done to improve this industry. Pre-Game Sports Exchange was built to play a large role in leading a new wave of efficient, effective and competitive bookmaking into the market.
Q. What is your wiseguy policy?
A. The only way we can deal to a wiseguy is if he gives us enough time to do something with the bet. Beating the moves a few seconds before the number is gone does us no good and we don’t book that type of action. Granted, we are a strong out for wiseguys because we are not on the Don Best screen, but both parties must agree on certain terms that allow us enough time to keep the bet or go out the door with it. Then, and only then, would we be willing to book wise action. We are a responsible out, so beards or ‘screen hawks’ that play into Pre-Game must cooperate accordingly and speak to me prior to their first wager. If the wise action comes in late, we will not help that player and their funds will be returned.
Q. Compare business for first year basketball season with the current one ... also, how was football season?
A. When Pre-Game first opened online in February 2002, we offered a free $25 trial account to anyone who signed on. For the next 4 months, we were catering to a high percentage of trial customers, this was a good test for our service and we focused on providing these trial customers with a high level of customer care. We wanted as much one-on-one time as possible to get the best feel for our future customers. It paid off—over 3000 trial customers tested our service and we were rewarded with a high percentage of them coming back with deposits for the football season. This year’s basketball season showed us that (by listening to the customers in the past) we could develop high-value products and services for the future. When we came out with the Triple Play Bonus Calculator, we offered it to our existing customers first, and they showed confidence Pre-Game by referring friends. Needless to say, business is steadily improving.
Q. What about your customers ... what types of bets do they prefer: straights, teasers, parlays, props?
A. Our customers have seen our betting board grow tremendously over the past few months -- we offer everything! With over 20 different sports and entertainment categories to choose from and hundreds of betting lines available, our customers’ betting appetites range from online horse betting to daily props and exotic lines such as betting on the first 4½ inning lines or the last 4½ inning lines on MLB, and 1½ lines in the NHL. Our parlay payouts are very popular and we have a handful of customers who only play our 7/1 three-team parlays.
Q. What baseball line do you offer, 10c or 20c...and why?
A. To be determined -- but you can bet that they will be competitive.
For more information, go to www.betpregame.com, call 1-800-316-5437, or write to [email protected].
Derby Futures Rebate. Through our association with racing enthusiasts including Kelso Sturgeon, Brian Mulligan, Ed Doyle and Warren Eves, to mention four of the most prominent, we try to meet the needs of the race book audience. The books are getting very inventive in going after this group of bettors, who have found a sort of nirvana on the Internet.
Our buddy William Caesar who runs the show at Belize-based Carib Sportsbook (www.caribsports.com) makes it a point of honor to try to stay ahead of the competition. Despite being a devoted family man, William, a long time bookmaker knows what goes on in the convoluted recesses of the average horse players head.
“At Carib, we take pride in being a little bit ahead of the other guys,” he boasted. “It goes back to the days when we were based in Antigua among several books that were bigger than we were at that time.
“Some of them have passed from the scene, others, we passed in size, and we did it by giving players a variety of incentives that won’t dent our bottom line, but feel good if you’re a customer.”
So what’s the big deal with the Kentucky Derby? we queried.
“I’m glad you asked,” he laughed. “We’re offering bettors a 25 percent rebate on Derby futures for horses that don’t run. So, in addition to our standard, 3% rebate, win or lose, if your horse doesn’t run in the Derby, we will give you a 25% rebate.”
In other news re Carib … very soon, the book will be licensed in the U.K., advised Caesar.
“We are looking to service that market with some good old fashioned Yankee ingenuity and aggressiveness,” he revealed. “You know, obtaining a British gaming license is no piece of cake, but Carib is so fiscally sound and well managed that the Brits almost had no choice but to authorize us to do business in their country.”
Jagr Update. We’re a few weeks tardy with this, but the mainstream press finally caught up with the story we broke last year regarding the NHL’s Jaromir Jagr settling a gambling debt with Carib Sports (SBS4-15-02, SBS4-22-02)
The Washington Capitals’ wing rated the recent headlines because of an IRS lien which alleged that he owes about $3.3 million in taxes from 2001.
In their reporting of the new development, Sports Illustrated and the Washington Post, among others, referenced our story last year that detailed Jagr’s betting problems. SI noted that Carib’s Caesar “leaked the story to buzzdaly.com, a webzine that covers the gambling industry.”
Jagr may have financial woes -- but with a $78 million, seven year contract -- debtors’ prison does not appear to be a punitive option.
There were no allegations that he bet on hockey, so his ethics, if not his judgment, are not being torched. Actually, it was Carib which kept this story from exploding as a scandal.
Caesar noted that the book blocked Jagr from betting on NHL games to the extent that the hockey star couldn’t even access hockey lines.
When this story with the tax angle broke a few weeks ago, several prominent gaming writers graciously credited us with breaking the original story. So we’d like to say a belated thank you to Kevin O’Neil, Dave Tuley and Stephen Nover.
Don’t Get Mad, Get Even. We get emails from bettors who are being stiffed by a book, and ask us for help, or simply want us to expose the book. Frequently the player has succumbed to a ridiculous incentive, which instead of acting like a warning signal to a savvy player, sucked in a novice.
Our site does not have the resources to be a consumer advocate, nor do we have a posting forum. Nonetheless, we do try to help those who have been scammed avoid the same problem from recurring.
A while back, we heard from a bettor who had major issues with a book, including chronic failures to honor payment requests and lack of response to other unresolved problems.
Instead of making threats and a lot of incoherent noise, he chronicled his dispute on a website he created: http://stiffed.homeip.net/tob3251. Of course, it presents only one side’s perspective, but it should serve as both a cautionary tale and an illustration of how players can fight back.
Books Are Also Scam Targets. Player complaints about offshore books have always been fertile grist for the mill on Internet posting forums. But books are also victimized by players who scam.
The following details an attempt by a few losers who tried to past post BoDog Sportsbook & Casino (www.bodog.com)
BoDog Sportsbook & Casino has removed the Odds-to-win for the CBS reality show Survivor 6: Amazon from their site after it was revealed a number of CBS employees had wagered on the event.
"Normally the product we offer for players to wager on isn't pre-determined," said Rob Gillespie, BoDog President. "But with Survivor most of the shows are pre-taped months ago and the only thing determined on live television is which of the final two contestants wins the $1-million."
Gillespie noted that the players in question, all residing in California, opened their accounts prior to Survivor 4: Marquesas and have only wagered on the show's outcome.
"It caught the attention of our security department after we noticed that these four individuals had all wagered the maximum amount on the same two contestants for the past three Survivor contests and were right on the final two contestants every time, assuring themselves a profit," said Gillespie.
BoDog's security department then attempted to contact each player to determine if they were wagering in violation of the BoDog Player Agreement which forbids groups of people to wager as a syndicate.
"Our rules are very clear on groups of people wagering on events with prior knowledge of the outcome," said Gillespie. "In this case our initial investigation determined that at least one of the clients worked for CBS in a production role and he may have provided information to the other players or they may have been wagering on his behalf."
Gillespie indicated the action taken from the CBS employees had skewed the odds so much on contestants Matt and Jenna that legitimate players were shying away from wagering.
"At the end of the day, we're in the entertainment business and a few people had to go and ruin it for the rest of our players," said Gillespie. "It's unfortunate, but we feel this course of action was appropriate."
Gillespie indicated they would offer odds on Survivor 7, but would strictly monitor all wagers to ensure regular clientele are not being negatively impacted.
Heard it on the Grapevine. With our ear to the ground, as well as other unlikely places here in Las Vegas, we are privy to quirky and interesting rumors. Here’s one that seems to have substance.
There is a group of businessmen looking to develop and build the first alternative lifestyle resort-casino in Vegas. This is not the gay hotel, converted from a Travelodge that is scheduled to open shortly in an industrial section of town.
This would be a full fledged themed hotel, possibly with a rain forest motif. Two of the people involved tried several years ago to develop such a facility, but for various reasons, it didn’t happen. However, despite today’s sagging economy, there is widespread feeling that this is an idea whose time has come, say the developers.
We are told that the demographics of the target audience, in tandem with the large numbers of straight visitors it would attract makes this a most bankable concept.
The developers are seeking first tier investors in order to take the plan to the next level. More information can be obtained by emailing [email protected].
Dandified. Recently, we did a do-over on our website. Not a major overhaul, just a change that lets us emphasize what we hope is our substance-over-style approach to sports betting.
To all those who noticed and told us how much they liked it, we apologize for not saying this a lot earlier, thank you.
Please send questions, comments, etc., to [email protected].
Is there an identifiable theme underlying the offshore sports betting industry’s approach to satisfying its insatiable thirst for new business? If so, inquiring minds want to know.
The distinct trend that we have noticed is that every day, it seems, our email box is deluged with unsolicited offers from online sportsbooks whom we have never heard of, giving us fantastic deals and incentives to open an account with them. We are supposed to ignore the irrational economics inherent within these offers. After all, lots of others will lose so that those few of us who are winners can get paid, right?
On the other hand, some books understand the principle of seeking new business by offering attractive incentives that are also prudent. These books realize there are times when the players win, and win big. So new business come-ons are designed to add players who are looking for all they can get in a buyer’s market, but who wish to do business with a bookmaker who will be around for a while.
We can’t highlight all the deserving books who have taken the time and effort to go after new business by being both innovative and responsible, but we’ll cite a representative example.
One guy who goes to the head of the class has to be Randy Scott, CEO of Pre-Game Sports Exchange, who says it has been around since February 2002. He has created, developed, invented what he describes as “a New Age product for gamblers of all sizes” called the Triple Play Bonus Calculator.
When we checked it out online, it looked to us like a New Age Rube Goldberg device, but we were intrigued.
Scott hangs out with the right people in Costa Rica, and we made the assumption that a shop that’s been in business for a year could easily be driven to devise a new business incentive with a bunch of bells and whistles.
What exactly is the Triple Play Bonus calculator?
We couldn’t figure it out, so we’ll let Scott explain.
Q. How does the bonus calculator work?
A. Three easy steps:
1. Enter the deposit amount being considered.
2. Choose between Stipulations or No Stipulations.
3. Pick 3 of the available bonus options (roll mouse/cursor over each bonus category for bonus definition).
Some options will be blocked from being selected depending on the amount entered and the stipulation of choice. The Triple Play Bonus Calculator is designed to maximize incentives for the big players and the smaller players. Customers are encouraged to test the different options available on the calculator using different deposit amounts under Stipulations and under No Stipulations. We are sure that the player will find a bonus plan that suits them.
After the player has configured a custom bonus plan, they can receive a copy via email by clicking “save copy” and entering their email address. When the player is ready to make a deposit, they can refer to the copy saved in their email and claim the custom bonus structure by forwarding a copy of the Triple Play to us at [email protected]. Upon confirmation of the deposit, the player’s account is promptly upgraded with the proper selections.
Q. Also, tell us why this is a more fiscally responsible approach to obtaining customers than that of some shops offering incentives which are designed to knock a bettor’s socks off.
A. Most players rely on sportsbooks to be responsible with the bonuses they offer, and unfortunately some aren’t. It’s never really known whether the book that offers extreme bonuses can honor what they are promoting until it’s too late. So why take that chance before you start wagering? Offering competitive bonuses without giving away the shop is a challenge which we are meeting with the Triple Play Bonus Calculator. Technically, it empowers the players to choose their own bonus structure in a format that is competitive with today’s market and manageable within Pre-Game’s financial structure.
All combinations that the players may choose from has been considered and pre-approved, with the security of our current customer’s funds and our business in mind.
The Triple Play Bonus Calculator eliminates the middleman, the confusing sales reps on the telephones, and allows players to customize their bonus plan online … on their time.
While we chewed that over, we asked Randy a few questions to get a better handle on him and his book.
Q. Why did you decide to open up a book?
A. From our point of view, there is still a lot that can be done to improve this industry. Pre-Game Sports Exchange was built to play a large role in leading a new wave of efficient, effective and competitive bookmaking into the market.
Q. What is your wiseguy policy?
A. The only way we can deal to a wiseguy is if he gives us enough time to do something with the bet. Beating the moves a few seconds before the number is gone does us no good and we don’t book that type of action. Granted, we are a strong out for wiseguys because we are not on the Don Best screen, but both parties must agree on certain terms that allow us enough time to keep the bet or go out the door with it. Then, and only then, would we be willing to book wise action. We are a responsible out, so beards or ‘screen hawks’ that play into Pre-Game must cooperate accordingly and speak to me prior to their first wager. If the wise action comes in late, we will not help that player and their funds will be returned.
Q. Compare business for first year basketball season with the current one ... also, how was football season?
A. When Pre-Game first opened online in February 2002, we offered a free $25 trial account to anyone who signed on. For the next 4 months, we were catering to a high percentage of trial customers, this was a good test for our service and we focused on providing these trial customers with a high level of customer care. We wanted as much one-on-one time as possible to get the best feel for our future customers. It paid off—over 3000 trial customers tested our service and we were rewarded with a high percentage of them coming back with deposits for the football season. This year’s basketball season showed us that (by listening to the customers in the past) we could develop high-value products and services for the future. When we came out with the Triple Play Bonus Calculator, we offered it to our existing customers first, and they showed confidence Pre-Game by referring friends. Needless to say, business is steadily improving.
Q. What about your customers ... what types of bets do they prefer: straights, teasers, parlays, props?
A. Our customers have seen our betting board grow tremendously over the past few months -- we offer everything! With over 20 different sports and entertainment categories to choose from and hundreds of betting lines available, our customers’ betting appetites range from online horse betting to daily props and exotic lines such as betting on the first 4½ inning lines or the last 4½ inning lines on MLB, and 1½ lines in the NHL. Our parlay payouts are very popular and we have a handful of customers who only play our 7/1 three-team parlays.
Q. What baseball line do you offer, 10c or 20c...and why?
A. To be determined -- but you can bet that they will be competitive.
For more information, go to www.betpregame.com, call 1-800-316-5437, or write to [email protected].
Derby Futures Rebate. Through our association with racing enthusiasts including Kelso Sturgeon, Brian Mulligan, Ed Doyle and Warren Eves, to mention four of the most prominent, we try to meet the needs of the race book audience. The books are getting very inventive in going after this group of bettors, who have found a sort of nirvana on the Internet.
Our buddy William Caesar who runs the show at Belize-based Carib Sportsbook (www.caribsports.com) makes it a point of honor to try to stay ahead of the competition. Despite being a devoted family man, William, a long time bookmaker knows what goes on in the convoluted recesses of the average horse players head.
“At Carib, we take pride in being a little bit ahead of the other guys,” he boasted. “It goes back to the days when we were based in Antigua among several books that were bigger than we were at that time.
“Some of them have passed from the scene, others, we passed in size, and we did it by giving players a variety of incentives that won’t dent our bottom line, but feel good if you’re a customer.”
So what’s the big deal with the Kentucky Derby? we queried.
“I’m glad you asked,” he laughed. “We’re offering bettors a 25 percent rebate on Derby futures for horses that don’t run. So, in addition to our standard, 3% rebate, win or lose, if your horse doesn’t run in the Derby, we will give you a 25% rebate.”
In other news re Carib … very soon, the book will be licensed in the U.K., advised Caesar.
“We are looking to service that market with some good old fashioned Yankee ingenuity and aggressiveness,” he revealed. “You know, obtaining a British gaming license is no piece of cake, but Carib is so fiscally sound and well managed that the Brits almost had no choice but to authorize us to do business in their country.”
Jagr Update. We’re a few weeks tardy with this, but the mainstream press finally caught up with the story we broke last year regarding the NHL’s Jaromir Jagr settling a gambling debt with Carib Sports (SBS4-15-02, SBS4-22-02)
The Washington Capitals’ wing rated the recent headlines because of an IRS lien which alleged that he owes about $3.3 million in taxes from 2001.
In their reporting of the new development, Sports Illustrated and the Washington Post, among others, referenced our story last year that detailed Jagr’s betting problems. SI noted that Carib’s Caesar “leaked the story to buzzdaly.com, a webzine that covers the gambling industry.”
Jagr may have financial woes -- but with a $78 million, seven year contract -- debtors’ prison does not appear to be a punitive option.
There were no allegations that he bet on hockey, so his ethics, if not his judgment, are not being torched. Actually, it was Carib which kept this story from exploding as a scandal.
Caesar noted that the book blocked Jagr from betting on NHL games to the extent that the hockey star couldn’t even access hockey lines.
When this story with the tax angle broke a few weeks ago, several prominent gaming writers graciously credited us with breaking the original story. So we’d like to say a belated thank you to Kevin O’Neil, Dave Tuley and Stephen Nover.
Don’t Get Mad, Get Even. We get emails from bettors who are being stiffed by a book, and ask us for help, or simply want us to expose the book. Frequently the player has succumbed to a ridiculous incentive, which instead of acting like a warning signal to a savvy player, sucked in a novice.
Our site does not have the resources to be a consumer advocate, nor do we have a posting forum. Nonetheless, we do try to help those who have been scammed avoid the same problem from recurring.
A while back, we heard from a bettor who had major issues with a book, including chronic failures to honor payment requests and lack of response to other unresolved problems.
Instead of making threats and a lot of incoherent noise, he chronicled his dispute on a website he created: http://stiffed.homeip.net/tob3251. Of course, it presents only one side’s perspective, but it should serve as both a cautionary tale and an illustration of how players can fight back.
Books Are Also Scam Targets. Player complaints about offshore books have always been fertile grist for the mill on Internet posting forums. But books are also victimized by players who scam.
The following details an attempt by a few losers who tried to past post BoDog Sportsbook & Casino (www.bodog.com)
BoDog Sportsbook & Casino has removed the Odds-to-win for the CBS reality show Survivor 6: Amazon from their site after it was revealed a number of CBS employees had wagered on the event.
"Normally the product we offer for players to wager on isn't pre-determined," said Rob Gillespie, BoDog President. "But with Survivor most of the shows are pre-taped months ago and the only thing determined on live television is which of the final two contestants wins the $1-million."
Gillespie noted that the players in question, all residing in California, opened their accounts prior to Survivor 4: Marquesas and have only wagered on the show's outcome.
"It caught the attention of our security department after we noticed that these four individuals had all wagered the maximum amount on the same two contestants for the past three Survivor contests and were right on the final two contestants every time, assuring themselves a profit," said Gillespie.
BoDog's security department then attempted to contact each player to determine if they were wagering in violation of the BoDog Player Agreement which forbids groups of people to wager as a syndicate.
"Our rules are very clear on groups of people wagering on events with prior knowledge of the outcome," said Gillespie. "In this case our initial investigation determined that at least one of the clients worked for CBS in a production role and he may have provided information to the other players or they may have been wagering on his behalf."
Gillespie indicated the action taken from the CBS employees had skewed the odds so much on contestants Matt and Jenna that legitimate players were shying away from wagering.
"At the end of the day, we're in the entertainment business and a few people had to go and ruin it for the rest of our players," said Gillespie. "It's unfortunate, but we feel this course of action was appropriate."
Gillespie indicated they would offer odds on Survivor 7, but would strictly monitor all wagers to ensure regular clientele are not being negatively impacted.
Heard it on the Grapevine. With our ear to the ground, as well as other unlikely places here in Las Vegas, we are privy to quirky and interesting rumors. Here’s one that seems to have substance.
There is a group of businessmen looking to develop and build the first alternative lifestyle resort-casino in Vegas. This is not the gay hotel, converted from a Travelodge that is scheduled to open shortly in an industrial section of town.
This would be a full fledged themed hotel, possibly with a rain forest motif. Two of the people involved tried several years ago to develop such a facility, but for various reasons, it didn’t happen. However, despite today’s sagging economy, there is widespread feeling that this is an idea whose time has come, say the developers.
We are told that the demographics of the target audience, in tandem with the large numbers of straight visitors it would attract makes this a most bankable concept.
The developers are seeking first tier investors in order to take the plan to the next level. More information can be obtained by emailing [email protected].
Dandified. Recently, we did a do-over on our website. Not a major overhaul, just a change that lets us emphasize what we hope is our substance-over-style approach to sports betting.
To all those who noticed and told us how much they liked it, we apologize for not saying this a lot earlier, thank you.
Please send questions, comments, etc., to [email protected].