BetPanAm Progress - WED AM??

batistuta · Jan 28, 2004

I am interested if anyone has received payments or the email promised from PanAm. I am a very big customer of theirs - told by them that I was their biggest - who knows - but I was just flat out lucky to not have ANY money there when the problems started. A week before I had a big balance there and didnt reload in time.

Somehow the gambling gods smiled on me with the timing - but I would be pulling my hair out if I were getting the runaround.

Anybody get the email yet? Or better yet get paid? My feeling is simply - what is this books motivation to pay if they have already ruined their reputation going forward? I mean what are the chances of them paying everyone, and staying in business? I think none. Maybe they will pay and go out of biz or maybe they will not pay and stay in biz (probably under a different name) - but not both.

GL to all that are being screwed.

go2guy · Jan 28, 2004

Anybody get the email yet? anyone? Hearing some disturbing things ac**** the street

Seymour · Jan 28, 2004

No need to worry with Panam - they are regulated by the Panamaniam government - in fact, they were the first to receive a license from the government - they had to put up a huge bond with the government so everyone is protected - just call up the Panamanian government and tell them that the deep pockets of Panam turned out to be shallow pockets and that you want to get paid out from the big bond they put up - I am sure they will cut you a check within 24 hours.

batistuta · Jan 28, 2004

Seymour - i hope that was a joke.

go2guy · Jan 28, 2004

Seymour

THE SHRINK · Jan 28, 2004

I have heard they are filling up their neteller today and all account holders should be receiving an email with instructions on how they can get paid all their money...

THE SHRINK

Fishhead · Jan 28, 2004

That would be terrific SHRINK.

Lets hope it happens.

batistuta · Jan 28, 2004

Shrink - to be fair I think everyone has "heard" that - just wondering if anyone had anything concrete.

buddyboy · Jan 28, 2004

as more and more new unsuspecting players post up with them via neteller there should be money in there for old payouts.... just make sure you get those payouts BEFORE the superbowl

THE SHRINK · Jan 28, 2004

emails have gone out...

SunDevil · Jan 28, 2004

It's a start....but still no-one getting paid today....and now the phrase "hope to have most completed before the end of the week". We shall see....

From : Customer Service Betpanam <customerservice@betpanam.com>
Sent : 28 January 2004 17:47:29
To : <Undisclosed-Recipient:, >
Subject : Important Message From BetPanAm

| | | Inbox

We are sorry for any inconvenience the past week and a half may have caused you. The conflict between shareholders has finally been settled and we will once again have access to the escrowed investment funds. We are in the process of having funds transferred to our operational accounts and will then wire money to our Stored Value Card and Neteller accounts. This process takes at least 24 hours. Payouts for the pending requests will resume then and we hope to have most completed before the end of the week. Anyone requesting money will be paid. For those who have requested a payout, please contact our Customer Service Department tomorrow and reconfirm your payout request.

BetPanAm

go2guy · Jan 28, 2004

Imagine if I ran a land based casino and continue to let players play and purchase chips with cash and when they are ready to cash out told them sorry we need to fund our accounts before we started paying out, come back in 3 days. It would easy for them to get more players to "deposit" their cash and pay old players off ala ponzi scheme in a few days time. Even the casino could wait until a heavy traffic time say uhhhhh Super Bowl weekend and say hey if we are in the red, we're outta here! WAIT ONE SECOND this wouldn't happen because I would have to have funds in reserve to operate ala govt' bond

Right PanAM. Where's proof of this govt' bond?

G.MONEY · Jan 28, 2004

HAVE NOT RECIEVED MINE.........

Fishhead · Jan 28, 2004

I would sincerely hope that this is all resolved by NO LATER than Friday morning EST!!

Personally, I feel very confident that it will.

However, ANY further delays would force me to be considerably upset.

I certainly do not want to hear something to the effect of the banks closing early on Friday and certain requests were not made.

Like I said, hope anybody that put in a request for money, has it in hand by 11:59am EST on this Friday......which is actually more than enough time to get this settled.

PO69 · Jan 28, 2004

Guys I may be worng on this, but I dont think that the bond paid to the government goes to the betters!! I believe that is money in case they owe the government money at anyt time. Either way, you should NEVER count on that money be paid to gamblers

PatrickMcIrish · Jan 28, 2004

After days of whining about his money The Major just posted "pay me last". Translation for nonforum owners is it's confirmed we are all getting our money now. Pay me last means everything is going to be fine but hopefully I'll get some props for being a stand-up guy.

At least we know everyone will get paid. WHEWWWWWWW!! Good job PanAm, I never lost confidence though I was close once or twice. Cheers.

Fishhead · Jan 28, 2004

MciRICH- good to see ya stranger!

How goes it?

Yeah, embarrassing post by Russ!

I am at happy hour almost everyday at Lee Roys on Bruce B. Downs........join me anytime......beers on me.

TheGeneral+ · Jan 28, 2004

yeah, good to see ya always Patrick.

batistuta · Jan 28, 2004

VERY INTERESTING NOTE: I DID NOT RECEIVE AN EMAIL OR ANY CONTACT FROM PANAM.

Dont you think that they would alert everyone - not just those that are owed - of the situation? The reason I say this is because I think that they know that I could easily send them say 20k for the SB and they would just use it to pay off those that are owed now. This is shady shady business.

They wont see another penny from me ever - but I am one of the lucky ones who stays on top of these things otherwise I would be screwed.

PatrickMcIrish · Jan 28, 2004

<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Originally posted by FISHHEAD:
MciRICH- good to see ya stranger!

How goes it?

Yeah, embarrassing post by Russ!

I am at happy hour almost everyday at Lee Roys on Bruce B. Downs........join me anytime......beers on me.

<HR></BLOCKQUOTE>

Thanks Fisher, may have to do that one day. I have been good for the most part, working around the house and catching up on things I put off. Need to go out and tie one on pretty soon, I'll give you a holler.

General good to see you sir. You guys have this place looking great. Tell them I said give you a raise.