A true watchdog

CharlieMaxwell · Jun 15, 2004

We have a problem lurking in the offshore industry. The government doesn’t cause this problem, nor do the players. The problem we have has the potential to eat away at the credibility of our industry, so all of us should take time to acknowledge it.

Find out what Wild Bill thinks the problem is by going to the RX home page at www.therx.com

Charlie

TheGeneral+ · Jun 16, 2004

Interesting read Bill.

I am surprised this did not lead to more discussion.

assassin · Jun 16, 2004

Yawn,
not really much of substance there.
Certain watchdogs are tianted, but he won't name them (doesn't do any of us any good)
Forums are whores and accept advertising dollars without due dilligence of the company
Players feel that since forums receive compnsation (be it direct or via advertising) based on the referal code, they have a fiduciary duty to the player; forums don't feel that way (Charles Barkely, buy my shoes but I'm not a role model)

the only thing of note in the artcle is as follows
"The emergence of a true watchdog, with transparent funding mostly from players"

Wrong. Follow the extisting SEC model. All member firms are assessed a fee to over monitoring and enforcement. You don't pay the fee you can't be registered. The other party to be included in a new formal monitoring structure is the payment intermediaries, Firepay, neteller,etc. Will this work, who knows, but that is the model. Unless the players have a "guarantee"of payment via escowed funds created, then I believe players would gladly pony up a fee for true monitoring.

imho

JohnnyDeMarco · Jun 16, 2004

ask yourself this question. Who pays a watchdog? End of story.

huggybear+ · Jun 16, 2004

I just read this article and laughed so hard when i read this paragraph. If you really believe this guy is doing all this for the players I got a bridge to sell you in brooklyn.He is no beter than SBR and should come in here and let everyone know about the money he is asking books to put a hyperlink on his site. Your serve Roberto....

"Maybe Roberto is onto something with is Offshore Wire. We definitely need a true watchdog to function without ads or any other revenue sources that cause conflicts of interest. There will still be a place for all the other sites because, after all, a true watchdog can only offer so much."

jwunderdog · Jun 16, 2004

THis has been posted about way before I started posting. I have come to the conclusion that even if you could have a site with no ad rev. from the books , It could be a watchdog but it would have no teeth.Gambling is an unregulated business, so even if you had access to bank account records it still wouldn't mean that much. The owners could have $10 million sitting in the bank one day and take it all out the next day. Who is going to stop them? Gambling was a trust business before the offshore business started and still is today. justmyopinion

TheGeneral+ · Jun 16, 2004

Bottom line is hardly anyone Really knows what is going on with the finances. Like jwunderdog pointed out, there can be alot of dog and pony, but ultimatley a book can pull fast ones over anyone.

JimFiestSux · Jun 17, 2004

The OFFSHORE business is truly a trust your book business! You'll never meet any owner and probably will never even speak to one! I would think alot of "CUSTOMER SERVICE" people actually work out of a very small office with the larger ones having their own factory size building?? The small shops and who are we to judge whos big or small,probably have their wagers go through a place that handles action and charges the book a 30$ fee per customer?? Whos big and whos small?? WatchDog sites get paid also, don't kid yourself! Books sponsor EVERY site that has to do with gambling! I never had any dispute offshore and hope I never will but If I do I'd feel more comfortable letting Mr. Shrink or 'THE GENERAL" handle the situation than ANY WATCHDOG SITE!!