14 August 2003
By Buzz Daly
Horse bettors are well aware of the correlation between a horse's performance and its pedigree, but the connection between bloodlines and projected achievement is also evident in human endeavors, hence the truism, "the apple doesn't fall far from the tree."
Looking at the sports betting universe, in which we are constantly seeking noteworthy material for this column, we're struck by the high incidence of relevant stories being driven by quality individuals. Hint: we just found another, the launch of a new full service offshore sportsbook created and operated by a stellar management team.
From our offices in Las Vegas, it would be presumptuous to make pronouncements about any book, new or old without talking with the principals, and then passing along our observations.
So, as we detail the creation of a brand new shop, and regale readers with revelations of an entity that sounds almost too good to be true, our crucial reference point for giving this new book such a positive sendoff is not simply all its obvious advantages. Rather it is the impeccable pedigree of its top management that garners our kudos.
The new offshore sportsbook is Panama City-based BetPanAm, www.BetPanAm.com. And from its promises of 1.07 vig. to its status as the first officially licensed and government regulated sportsbook in that Central American country, BetPanAm has the look and feel of a winner.
Senior management consists of three high caliber, experienced and dedicated individuals whose backgrounds include decision-making positions at some of the industry's most successful and respected books:
* Richard Long, managing director, formerly with Betmaker, and Sportingbet.com
* Marty Monroe, marketing director, formerly with Galaxy and Royal Sports
* Scotty King, player development, formerly with Pinnacle Sports.
This industry is not composed of businesses with formal and bureaucratic layers of bosses. Indeed, it is highly personal, where a man's word or handshake is far more meaningful than a long-winded legal document.
To get the inside scoop on the new book as it prepares to open we spoke with Marty Monroe -- a well known, highly professional and free spirited veteran of the offshore industry. Suffice it to say he is a straight shooter, and a source whose word has always been dead on the money. Truth be told, Marty is much more than a source, so that disclosure needs to be made.
Before asking him about BetPanAm, we wondered about what happened at Royal to cause him to leave a company he had been with for years. After a pause, he said, "Buzz, it's a long story and best told in person, preferably over some pina coladas, which I'll be happy to do next time we are together."
Marty was more interested in talking about the new book, which went live on the Internet August 12; phone action will follow shortly. He opined that Panama will be the next popular location of offshore and online gaming companies.
"Our license was three years in the making and has teeth in it to protect players. Regulatory due diligence is strict and goes over the past history of those applying for a license with a fine tooth comb, so dead beats and other bad elements are screened out before they get very far in the process," Monroe added.
Panama is a G-7 nation, which means it shares banking regulations with the U.S. It is also an industrialized country in which English is the primary language. Every gaming licensee must post a $500,000 bond with the government to insure payment in any disputed claim that is upheld.
"I'm proud and excited to be part of such a terrific sportsbook," Marty told us. "The Panamanian government has embraced our industry and its regulation. This supportive and progressive atmosphere is certainly more conducive to business that what is found elsewhere."
Monroe characterized BetPanAm's management group as a "dream team" and the company's operating software as, "reliable, speedy and attractive, with the emphasis on being user friendly. That was a high priority goal for our tecchies," he noted.
Marty is convinced this book will truly achieve its objectives while also satisfying the needs of bettors "because the concept behind it has been implemented by a group whose background and expertise in this industry is without parallel."
Unlike some books which are also started with good intentions, but simply do not have the resources – financial or operational – to fulfill them, BetPanAm will have no such problems, Monroe stressed.
The investment group backing the book possesses not only the deep pockets that are necessary, but they are political heavyweights. "I'd say, with all due modesty, that this operation has all its bases covered with room to spare," said Monroe.
Betting limits will be: online $5 minimum, $2,000 max on sides, $1,000 max on totals; phones, $5 minimum, $5,000 max sides/$2,000 max totals. Vig will be competitive and payouts "will be done at the speed of light," said Marty. "That is only a mild exaggeration as our banking services here are fast, efficient and highly confidential."
In order to honor its claims, BetPanAm "has a technology infrastructure with cutting edge accessibility not generally available in the Caribbean region. We're one step off two worldwide central fiber-optic cables," Monroe explained, adding, "We have totally redundant communications on both Internet and phone through dual fiber cables from two separate switches on the fiber ring throughout Panama City."
Can customers visit the shop, we wondered. "Certainly. We're proud of our modern facility," Monroe said. "And we'd be happy to show it off to our clients when they are in Panama. Incidentally, this is a beautiful country, well worth visiting. It offers great restaurants, nightlife and fantastic fishing. Also, this is the second largest free zone in the world, just after Hong Kong."
Marty acknowledged that a cadre of players, known as "bonus whores," has become a major annoyance to the industry. But BetPanAm is still going to offer "terrific incentives for players to sign up with us. Although we're not giving away the shop. Essentially, any serious or savvy player will want to open an account here. We're designed to service all types of bettors, from the sharpest wiseguys to the vast majority which simply enjoys getting a rush from having some action on a game, and backing their opinion with more than hot air."
If there is one area of BetPanAm in which Monroe takes personal pride, it is the ticket writers. "They've had intensive and comprehensive training under my supervision.
When we open our doors, they will be ready for anything. And our customers will not have to deal with heavy accents that slow down the betting process," he promised.
The book will open with a world class betting menu for sports enthusiasts, and will soon be followed with Pari-mutuel horse betting, poker tournaments and soccer from around the world.
"Buzz, I know you've heard a lot of hype from other books," Monroe said, "but the principals behind this operation are in the business to insure its success for the long-term. They believe in Panama and its future as an e-commerce community.
"When will you be visiting, so we can partake of the local delights, like we did in Curacao?"
That's an offer that is mighty hard to refuse.
For more info go to www.BetPanAm.com or call 1-800-810-8596.
http://www.casinocitytimes.com/news/article.cfm?contentID=137045
By Buzz Daly
Horse bettors are well aware of the correlation between a horse's performance and its pedigree, but the connection between bloodlines and projected achievement is also evident in human endeavors, hence the truism, "the apple doesn't fall far from the tree."
Looking at the sports betting universe, in which we are constantly seeking noteworthy material for this column, we're struck by the high incidence of relevant stories being driven by quality individuals. Hint: we just found another, the launch of a new full service offshore sportsbook created and operated by a stellar management team.
From our offices in Las Vegas, it would be presumptuous to make pronouncements about any book, new or old without talking with the principals, and then passing along our observations.
So, as we detail the creation of a brand new shop, and regale readers with revelations of an entity that sounds almost too good to be true, our crucial reference point for giving this new book such a positive sendoff is not simply all its obvious advantages. Rather it is the impeccable pedigree of its top management that garners our kudos.
The new offshore sportsbook is Panama City-based BetPanAm, www.BetPanAm.com. And from its promises of 1.07 vig. to its status as the first officially licensed and government regulated sportsbook in that Central American country, BetPanAm has the look and feel of a winner.
Senior management consists of three high caliber, experienced and dedicated individuals whose backgrounds include decision-making positions at some of the industry's most successful and respected books:
* Richard Long, managing director, formerly with Betmaker, and Sportingbet.com
* Marty Monroe, marketing director, formerly with Galaxy and Royal Sports
* Scotty King, player development, formerly with Pinnacle Sports.
This industry is not composed of businesses with formal and bureaucratic layers of bosses. Indeed, it is highly personal, where a man's word or handshake is far more meaningful than a long-winded legal document.
To get the inside scoop on the new book as it prepares to open we spoke with Marty Monroe -- a well known, highly professional and free spirited veteran of the offshore industry. Suffice it to say he is a straight shooter, and a source whose word has always been dead on the money. Truth be told, Marty is much more than a source, so that disclosure needs to be made.
Before asking him about BetPanAm, we wondered about what happened at Royal to cause him to leave a company he had been with for years. After a pause, he said, "Buzz, it's a long story and best told in person, preferably over some pina coladas, which I'll be happy to do next time we are together."
Marty was more interested in talking about the new book, which went live on the Internet August 12; phone action will follow shortly. He opined that Panama will be the next popular location of offshore and online gaming companies.
"Our license was three years in the making and has teeth in it to protect players. Regulatory due diligence is strict and goes over the past history of those applying for a license with a fine tooth comb, so dead beats and other bad elements are screened out before they get very far in the process," Monroe added.
Panama is a G-7 nation, which means it shares banking regulations with the U.S. It is also an industrialized country in which English is the primary language. Every gaming licensee must post a $500,000 bond with the government to insure payment in any disputed claim that is upheld.
"I'm proud and excited to be part of such a terrific sportsbook," Marty told us. "The Panamanian government has embraced our industry and its regulation. This supportive and progressive atmosphere is certainly more conducive to business that what is found elsewhere."
Monroe characterized BetPanAm's management group as a "dream team" and the company's operating software as, "reliable, speedy and attractive, with the emphasis on being user friendly. That was a high priority goal for our tecchies," he noted.
Marty is convinced this book will truly achieve its objectives while also satisfying the needs of bettors "because the concept behind it has been implemented by a group whose background and expertise in this industry is without parallel."
Unlike some books which are also started with good intentions, but simply do not have the resources – financial or operational – to fulfill them, BetPanAm will have no such problems, Monroe stressed.
The investment group backing the book possesses not only the deep pockets that are necessary, but they are political heavyweights. "I'd say, with all due modesty, that this operation has all its bases covered with room to spare," said Monroe.
Betting limits will be: online $5 minimum, $2,000 max on sides, $1,000 max on totals; phones, $5 minimum, $5,000 max sides/$2,000 max totals. Vig will be competitive and payouts "will be done at the speed of light," said Marty. "That is only a mild exaggeration as our banking services here are fast, efficient and highly confidential."
In order to honor its claims, BetPanAm "has a technology infrastructure with cutting edge accessibility not generally available in the Caribbean region. We're one step off two worldwide central fiber-optic cables," Monroe explained, adding, "We have totally redundant communications on both Internet and phone through dual fiber cables from two separate switches on the fiber ring throughout Panama City."
Can customers visit the shop, we wondered. "Certainly. We're proud of our modern facility," Monroe said. "And we'd be happy to show it off to our clients when they are in Panama. Incidentally, this is a beautiful country, well worth visiting. It offers great restaurants, nightlife and fantastic fishing. Also, this is the second largest free zone in the world, just after Hong Kong."
Marty acknowledged that a cadre of players, known as "bonus whores," has become a major annoyance to the industry. But BetPanAm is still going to offer "terrific incentives for players to sign up with us. Although we're not giving away the shop. Essentially, any serious or savvy player will want to open an account here. We're designed to service all types of bettors, from the sharpest wiseguys to the vast majority which simply enjoys getting a rush from having some action on a game, and backing their opinion with more than hot air."
If there is one area of BetPanAm in which Monroe takes personal pride, it is the ticket writers. "They've had intensive and comprehensive training under my supervision.
When we open our doors, they will be ready for anything. And our customers will not have to deal with heavy accents that slow down the betting process," he promised.
The book will open with a world class betting menu for sports enthusiasts, and will soon be followed with Pari-mutuel horse betting, poker tournaments and soccer from around the world.
"Buzz, I know you've heard a lot of hype from other books," Monroe said, "but the principals behind this operation are in the business to insure its success for the long-term. They believe in Panama and its future as an e-commerce community.
"When will you be visiting, so we can partake of the local delights, like we did in Curacao?"
That's an offer that is mighty hard to refuse.
For more info go to www.BetPanAm.com or call 1-800-810-8596.
http://www.casinocitytimes.com/news/article.cfm?contentID=137045
