Sportsbook Insurance

superstar · Feb 15, 2004

Shrink that is very good article,

Guys let me know what you think about this proposal.

First of all, A Legal Board (Gambling Association) is needed , someone needs to watch and regulated doubtfull operations,this Association also can mediate between book and player in case of any dispute,

Every sportsbook that want to be part of that board must give the sum of one million dollars(Bankrupcy Fund),in case of bankruptcy by a book that sum can help insured 1000 accts upto a maximun of $10.000 USD each.
This board can pay the customer or customers, by c-r-o-ss matching records form the sportsbook and the players in the event that the sportsbook donot have a good cash flow.

ThrillOfGambling · Feb 15, 2004

I dont think books like olympic would be in line to give up a million dollars to protect players at some other book than theirs.

superstar · Feb 15, 2004

that million dollars will be only for proctecting their own players,not going to a colective fund but to an individual sportsbooks fund

ThrillOfGambling · Feb 15, 2004

I just dont knwo if it would work. who would know if there was really a fund. just like the Panam bond. you only know what people tell you.

superstar · Feb 15, 2004

that is why a serious gambling association must be created,a reserved fund will be needed prior of doing operations, just like any finacial institution will do.