Alarmist yes. Real, possibly. I would definitely monitor the offshore situation carefully, and make sure I don't have any runaway balances, especially with any book that has less than an "A-" rating via Sportsbookreview.com
When I say less than A- rating, I mean less than an A- rating, meaning even B+ books can conceivably be dangerous.
Betcascade was an B+ book and went down the tubes, stiffing people, WSEX was a B+ book and the same thing is happening. They were even A books at one time, and slid down the rating scale over a few months. ABC Islands, part of the DPT sportsbook group (Betruss, Jazzsports, Looselines) is another book that was a solid B/B+ book for years that is now experiencing slow pays, and will probably be out of business in several monthes, imo.
I would recommend monitoring the offshore market through [URL="https://forum.sbrforum.com/sportsbooks-industry/"]https://forum.sbrforum.com/sportsbooks-industry/[/URL] this sports forum on an almost daily basis to have a heads up on who is paying, who is slow-paying, and who is paying fast with no problems. Some alarmists on this forum, but I'd rather be warned a little too early and too much than too late.
[B]Regarding offshore accounts:
1.Never let your balance build too high at any one sportsbook. An in-trouble sportsbook would rather stiff one big winner than ten little winners.
2.Read all the rules thoroughly before you deposit, and don't violate any of them as a sportsbook will use these as a reason to not pay you.
3.Read all bonus rules thoroughly as any violation of these (many sportsbook have small inconspicous rules) will result in cancelling your winnings, your bonus, and even a confiscation of all your funds.
4.Check withdrawal costs, as these can be hefty.
5.Only deal with books that have a reputation for paying on time.
6.Check the offshore sportsbook industry forums on a daily basis, as the scene can change literally overnight as information comes in regarding the status of certain sportsbooks. When official news breaks or someone in the know puts it through the grapevine about who is operating on a shoestring, who has lost their financing, which owner has a drug or gambling problem, etc..., you want to know early enough to get your money out.
7.A number of rogue lines is another indicator of a sportsbook in trouble, as they are either gambling (not shading, but gambling), or attempting to attract as many deposits as possible.
8.Ridiculous offers are another sign of an offshore sportsbook that may not pay. If you are offered a 200% bonus on a $500 deposit, something is amiss. 100% bonus on a $100 deposit is a normal offer. 200% on a $500 deposit is not.
9.Always, always, always, be nice and maintain a good relationship with the Customer Service department, the accounting department (withdrawals/deposits), and sportsbook management, no matter how mad and frustrated you get, or how unfairly you get treated. This takes discipline, but will result in much more favorable treatment both in the present and down the road. Sometimes they want to pay you, but just screw up, and a couple of calls and a day or two is all it takes to straighten it out. Sometimes they actually do really want to pay you if there is a delay.
Take necessary action and file a complaint with SBR or another sportsbook watchdog group if you need to, but always be cordial, courteous and professional, even if they aren't.[/B]
