SBR's opinion on who should be paid if SecureBuxx stiffs

Buzzsaw · Aug 9, 2003

Guys, we are in a bit of uncharted territory if SecureBuxx goes the stiff route. This is SBR's position:

SecureBuxx stated that players could transfer their SecureBuxx account balances to any book on the SBR List. Players wrote SBR asking which books on the list would be willing to accept a SB transfer. After contacting most the books it is clear there are NO sportsbooks willing to accept SecureBuxx's offer.

As far as players who deposited by SecureBuxx,
Books are now reporting a high amount of deposit and withdraw activity with SB during the last five days. One book reported a 2600% increase in deposits from the full month of July vs just 7 days in Aug. Most of the accounts are from the Montreal area where SB is located.

SBR recommends that books immediately state that all deposits prior to August 1st will be honored regardless if the book is able to collect from SecureBuxx. Deposits made after August 1 should be honored for all deposits under $301 without question. The smaller players do not deserve to be caught in the same scam web as those who were trying to take advantage of their knowledge of the impending collapse or outright fraud. Larger balances should be screened for potential fraud and dealt with fairly.

Hopefully SecureBuxx will pay but if they don't the books need to create fair rules to protect the smaller player and the integrity of the industry.

TheGeneral+ · Aug 9, 2003

Looking out for the majority of players is commendable Buzzsaw no doubt.

However, I could not hold books responsible for SecureBuxxs' failure.

Hopefully it works out like this, but I could not scold a book for not taking this route.

Agree?

BallRash · Aug 9, 2003

right on Buzz

PatrickMcIrish · Aug 9, 2003

Nice post Buzz. That's the way to use your voice. I agree as well. The players can't take much more of this kind of stuff.

BallRash · Aug 9, 2003

<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR> One book reported a 2600% increase in deposits from the full month of July vs just 7 days in Aug. Most of the accounts are from the Montreal area where SB is located.
<HR></BLOCKQUOTE>

Could this be someone in the basement of his mom's house at work here ?

RPM · Aug 9, 2003

i would like to see books be willing to honor deposits over a lot more than $300.

i see no reason for the limit to be under maybe $1,500 or so. even if it means putting a 3x roll over on the money or something.

that accepted sb, they should honor it.

suetoneous · Aug 9, 2003

Ball Rash... LOL

I'm Sure Sick G. has been very busy for the last few days...and this could very well expain alot of this activity

Buzzsaw · Aug 9, 2003

This may be gut-check time for the sportsbooks. At a time when the US is debating a bill to limit funding of offshore gaming accounts the industry can not afford this. This is a cost of doing business and only slightly different than a credit card processor going down.

Hopefully the leaders in the industry will set a precedent and the rest of the industry will be forced to follow.

suetoneous · Aug 9, 2003

Buzzsaw, any idea - guess- of just how much $$$ could be involved here?

ChuckSims · Aug 9, 2003

To say sportsbooks should bail out Securebuxx is ludicrous. People were being warned about this scam set-up months ago. Whoever sent money to Secrebuxx, player or book has to eat it. PERIOD!

Buzzsaw · Aug 9, 2003

Chuck,
Many books promoted SB and carried them as a funding option. Only 1% visit Rx type sites. What do you do with Joe Six pack who sent in his deposit via SB for $250 on May 25th but the sportsbook never got paid by SB?
Your solution is to tell him tough luck?

The next thing you know Joe Six Pack will be writing his Senator and writing letters to the editor about how he was scammed by (and this is important) a Sportsbook.

And if what you said is true "warned about this scam set-up months ago" don't you think the books knew? They are not exactly uninformed right? It sounds to me like you made my case for them bearing some of the responsibilty.

suetoneous · Aug 9, 2003

Buzzsaw, no guess???

And if sportsbooks "knew" about the problems with Securebuxx as you claim, then why was Majorbetting sending ALL their customers requesting payouts to Securebuxx???

PatrickMcIrish · Aug 9, 2003

This is typical of what is wrong with this business, the players always get the short end of the stick. They were allegedly warned (though Securebuxx had a banner at a players watchdog site and were still being used by over 80 books) so they have to eat it, not anyone else. The books themselves who have 10X's more info than most players will probably try and get off scott free and make the players pay. The books were the one's who chose to continue to do business with Securebuxx when they were warned as well, they know more than the players about what is going on. Especially the books still using Securebuxx as a means to move money. It's only the players as always who are held accountable, most who have NO IDEA they were ever at risk. Insiders who have contacts got their money out and now the recreational players will get the bone. Props to Bowmans for doing what was right, now it will be interesting to see which books try and make the players pay for THEIR mistake.

You can sheer a sheep forever but....

JoeyC · Aug 9, 2003

Buzzsaw:

Too many fake players were created by S Buxx - how can one adjust for this issue?

Buzzsaw · Aug 9, 2003

suetoneous,
I really don't know. If you asked me to guess I would probably say $500k but I could be way off.

Joey,
The BM's I talked to were able to spot patterns pretty quickly. It seems many of the fake accts listed Montreal and were for big deposits. I don't know but I think they should try to weed out the SecureBuxx frauds and at least honor the little guys deposits.

JoeyC · Aug 9, 2003

Buzz

I tend to agree with you.

ChuckSims · Aug 9, 2003

Buzzsaw, I'm talking about within the last 30 days. If anybody sent money through ScamBuxx 3 months ago, then that money should be good. If a player requested a WD from a book through ScamBuxx and never received it, the book still owes the player the money. Is there any books refusing to pay?

alec · Aug 9, 2003

Good posts, SBR and Patrick.

LouDiamond+ · Aug 9, 2003

"And if sportsbooks "knew" about the problems with Securebuxx as you claim, then why was Majorbetting sending ALL their customers requesting payouts to Securebuxx???"

...is this a trick question?

Sodium Pentethol V · Aug 9, 2003

Anyone that used SB as a funding medium with prior knowledge of the betpci incident should really consider a career change or get used to having a higher cost of business than those that actually pay attention.