HERE COMES PANAMA
7/17/03 - TheShrink
Since this was my first trip to Panama, I didn't know what to expect when I arrived last Thursday.
Many questions filled my head as we landed on the dark tarmac. Would it be anything like Costa Rica? Why did it take so long for Panama to finally have an offshore sports book? How was the infrastructure compared to other countries that support bookmaking? Because I hadn't eaten since leaving Virginia, I wondered about the quality of the food.
Krackman, Scotty and one of the owners of BetPanAm.com were waiting for me at the airport. Since we were all starving, the guys hijacked me to the nearest restaurant instead of taking me to the hotel.
It was a pleasure to see Marty Monroe, another familiar face who I have known for several years, at dinner. He was one of the reasons that ROYAL sports book had been so successful in the past.
Marty arrived in Panama months ago to assist in the set up of BetPanAm.com He understands the offshore industry well and is one of the people I respect the most because of his experience and successful track record.
The same can be said for both Scotty and Krackman. Their amazing eating skills are surpassed only by their keen understanding of offshore sports betting!
After dinner, I was finally taken to the hotel they had reserved for me, appropriately named the El Panama. The hotel accommodations were top notch, and I was pleased that the nicest casino in Panama City was inside my hotel. After playing a little craps and winning some money, I decided to call it a night because I was thoroughly exhausted from the long flight.
The next day was perhaps the most exciting because I had a meeting with the main owner of BetPanAm.com. I was rather curious to meet him and get the nitty-gritty on Panama and his new operation.
When I arrived at lunch, I knew instantly who the head honcho was. Sitting at a large table, he looked to be my age and a native of Panama. What really struck me the most was his strong love and passion for his country.
He educated all of us about Panama, its charm and its history, and the fact that Asians make up 11 percent of the population. This is a proud and educated man. "When I do things, I want it to be the best, he stated."
It was then time to dive into the purpose of my trip and learn all about BetPanAm.com and Panama's infrastructure.
Anyone applying for a license in Panama will not only have a background check, but will have to pass Interpol as well. 'Bad elements' need not apply for a license in Panama because they aren't going to get one. In fact, some have already been turned down. They will do their due diligence and past history is looked at carefully.
Since Panama views bookmaking as legal, a past indictment on bookmaking charges will not eliminate a prospective applicant from being able to obtain a sub license.
Additionally, EVERY LICENSEE must post a $500,000 bond with the government to insure payment is available in case of a dispute that is upheld in favor of the player!
There are real regulations in Panama which prevent some cowboy operations that we find in Costa Rica from even thinking of setting up shop here. The government has the right and the authority to visit the sports book at any time. And similar to Australia, it has the authority to listen to a dispute and make a final judgement.
Panama is much more modern than I had ever dreamed. The city's skyline resembles Miami and it boasts some great restaurants, nightlife, fishing, and yes, women, too.
While many operators have told me they are waiting to see how successful BetPanAm.com and Beverly Hills Bookie can be, I can tell you first hand that I believe Panama will be the next sports betting Mecca.
Ask any international accountant and you will learn that Panama’s banking is among the safest and best in the world. Panama even uses the dollar as its main currency, not colognes or pesos!
There has been talk about Panama refusing to stand up to the United States. Well, if any country is buckling under to U.S. demands right now, it is Costa Rica. There is no way Panama would allow the U.S. to dictate what will happen to its sports books. I believe Panama can police itself properly without any outside assistance from Uncle Sam.
The infrastructure that exists in Panama makes this country the perfect haven for relocating an existing sports book. For example, BetPanAm.com has a new end-to-end communications system on an all-fiber network. That system terminates one step off all the backbones to the Web. In addition, its bandwidth allocated to the internet connection is 200 percent of expected usage.
Their phone network uses Cable and Wireless, a worldwide carrier. All toll free 800 numbers are conditioned as internet traffic that terminate just one time - in Panama. They have totally redundant communications on both the internet and phone and have duel fiber cables from two separate switches on the fiber ring throughout Panama City.
BetPanAm.com has Dell computer systems that only use certified network capable hardware, with no clones! They have four on-site IT workers, all experienced in Network engineering and SQL database management. Someone is on site to immediately solve any glitches.
I do want to stress that BetPanAm.com will be offering payouts seven days per week. They also believe they will be the fastest to pay out, using every known vehicle for both inbound and outbound transfers
Without leaking everything, I also believe BetPanAm.com will be offering reduced juice betting to persuade customers to give them a try.
I can honestly recommend giving BetPanAm.com a try. I know I will.
[This message was edited by Prescription on July 28, 2003 at 10:35 AM.]
7/17/03 - TheShrink
Since this was my first trip to Panama, I didn't know what to expect when I arrived last Thursday.
Many questions filled my head as we landed on the dark tarmac. Would it be anything like Costa Rica? Why did it take so long for Panama to finally have an offshore sports book? How was the infrastructure compared to other countries that support bookmaking? Because I hadn't eaten since leaving Virginia, I wondered about the quality of the food.
Krackman, Scotty and one of the owners of BetPanAm.com were waiting for me at the airport. Since we were all starving, the guys hijacked me to the nearest restaurant instead of taking me to the hotel.
It was a pleasure to see Marty Monroe, another familiar face who I have known for several years, at dinner. He was one of the reasons that ROYAL sports book had been so successful in the past.
Marty arrived in Panama months ago to assist in the set up of BetPanAm.com He understands the offshore industry well and is one of the people I respect the most because of his experience and successful track record.
The same can be said for both Scotty and Krackman. Their amazing eating skills are surpassed only by their keen understanding of offshore sports betting!
After dinner, I was finally taken to the hotel they had reserved for me, appropriately named the El Panama. The hotel accommodations were top notch, and I was pleased that the nicest casino in Panama City was inside my hotel. After playing a little craps and winning some money, I decided to call it a night because I was thoroughly exhausted from the long flight.
The next day was perhaps the most exciting because I had a meeting with the main owner of BetPanAm.com. I was rather curious to meet him and get the nitty-gritty on Panama and his new operation.
When I arrived at lunch, I knew instantly who the head honcho was. Sitting at a large table, he looked to be my age and a native of Panama. What really struck me the most was his strong love and passion for his country.
He educated all of us about Panama, its charm and its history, and the fact that Asians make up 11 percent of the population. This is a proud and educated man. "When I do things, I want it to be the best, he stated."
It was then time to dive into the purpose of my trip and learn all about BetPanAm.com and Panama's infrastructure.
Anyone applying for a license in Panama will not only have a background check, but will have to pass Interpol as well. 'Bad elements' need not apply for a license in Panama because they aren't going to get one. In fact, some have already been turned down. They will do their due diligence and past history is looked at carefully.
Since Panama views bookmaking as legal, a past indictment on bookmaking charges will not eliminate a prospective applicant from being able to obtain a sub license.
Additionally, EVERY LICENSEE must post a $500,000 bond with the government to insure payment is available in case of a dispute that is upheld in favor of the player!
There are real regulations in Panama which prevent some cowboy operations that we find in Costa Rica from even thinking of setting up shop here. The government has the right and the authority to visit the sports book at any time. And similar to Australia, it has the authority to listen to a dispute and make a final judgement.
Panama is much more modern than I had ever dreamed. The city's skyline resembles Miami and it boasts some great restaurants, nightlife, fishing, and yes, women, too.
While many operators have told me they are waiting to see how successful BetPanAm.com and Beverly Hills Bookie can be, I can tell you first hand that I believe Panama will be the next sports betting Mecca.
Ask any international accountant and you will learn that Panama’s banking is among the safest and best in the world. Panama even uses the dollar as its main currency, not colognes or pesos!
There has been talk about Panama refusing to stand up to the United States. Well, if any country is buckling under to U.S. demands right now, it is Costa Rica. There is no way Panama would allow the U.S. to dictate what will happen to its sports books. I believe Panama can police itself properly without any outside assistance from Uncle Sam.
The infrastructure that exists in Panama makes this country the perfect haven for relocating an existing sports book. For example, BetPanAm.com has a new end-to-end communications system on an all-fiber network. That system terminates one step off all the backbones to the Web. In addition, its bandwidth allocated to the internet connection is 200 percent of expected usage.
Their phone network uses Cable and Wireless, a worldwide carrier. All toll free 800 numbers are conditioned as internet traffic that terminate just one time - in Panama. They have totally redundant communications on both the internet and phone and have duel fiber cables from two separate switches on the fiber ring throughout Panama City.
BetPanAm.com has Dell computer systems that only use certified network capable hardware, with no clones! They have four on-site IT workers, all experienced in Network engineering and SQL database management. Someone is on site to immediately solve any glitches.
I do want to stress that BetPanAm.com will be offering payouts seven days per week. They also believe they will be the fastest to pay out, using every known vehicle for both inbound and outbound transfers
Without leaking everything, I also believe BetPanAm.com will be offering reduced juice betting to persuade customers to give them a try.
I can honestly recommend giving BetPanAm.com a try. I know I will.
[This message was edited by Prescription on July 28, 2003 at 10:35 AM.]
