Can one book freeze your funds on behalf of another book?

cincy_ · Feb 17, 2005

My friend was playing at an offshore, and he had a wager that was incorrectly graded. It a dime wager, so the mistake was worth 2 dimes + juice. The next day, he makes a huge withdrawal, leaving practically nothing in his account. When the book tries to correct the grading error, he doesn't have the 2 dimes in his account. He is 1.9 dimes in the red and the book cannot collect .

A week later, ANOTHER book wants to freeze his funds on behalf of the first book.

Question: He knows he is in the wrong, so lets not deal with this case in particular but ...

IN GENERAL, can Book B freeze funds on behalf of Book A?

Journeyman · Feb 17, 2005

Were the books related?

cincy_ · Feb 17, 2005

JMAN - Yes, they were related.

... but aside from this particular case, in general, could one book freeze funds on behalf of another unrelated book? Do they do it for each other? Would you be against something like that?

JudgeWapner · Feb 17, 2005

Haven't heard of it happening very much. Definately could if the two books have a good working relationship. In this case, I agree with what they did.

jwunderdog · Feb 17, 2005

Who is going to stop them? especially in this case.

wilheim · Feb 17, 2005

I doubt a non related competing book has the right to hold or transfer a players funds without his permisssion not matter what kind of error was made in the players favor at another non related book. Compare the situation to banks for example: if a Bank cashed a check for you and over paid you $100 can that bank call a competitor bank and ask them to pay your $100 out of an account you have there?

wil.

JohnBuzz · Feb 17, 2005

IMO Yes. But, the case should be reviewed by at least one 3rd party.

christof · Feb 17, 2005

I would do the same thing they did. If a friend called me, and proved to me that someone stole $2000 from them, and I was holding $2000 of the thief's money, I would hand it over.

... and kick the player.

wilheim · Feb 17, 2005

Lets say this happened at Pinnacle do you think they would be justified asking Olympic to debit an account the player had there (Olympic) and paying them (Pinnacle) funds that were paid by mistake to the player by Pinnacle? Not taking the players side just saying I don't see non-related books messing with players money for each other.

wil.

christof · Feb 17, 2005

wilheim said:
if a Bank cashed a check for you and over paid you $100 can that bank call a competitor bank and ask them to pay your $100 out of an account you have there?

Nope, but that doesn't mean it wouldn't be the "right" thing to do if the person that got overpayed $100 knew it and ran off with the money.

wilheim · Feb 17, 2005

Christoff - the question of right or wrong is one thing - the question the thread asks: Can one book freeze your funds on behalf of another book? is another. Natrually it is wrong to drain an account after you realise a grading error has been made in your favor, but that is not what Cincy is asking.

wil.

lakerfan · Feb 17, 2005

Seems reasonable to me that if you won't pay it back that another book could help the other collect, but like anything is open to abuse.

christof · Feb 17, 2005

wilheim said:
Christoff - the question of right or wrong is one thing - the question the thread asks: Can one book freeze your funds on behalf of another book? is another. Natrually it is wrong to drain an account after you realise a grading error has been made in your favor, but that is not what Cincy is asking.

You're right. I'm answering the wrong question. I don't think there is anything to stop them from doing this though.

bucsfan67 · Feb 17, 2005

would be very tricky to start getting involved in that....

Suppose one of the books is a "rogue" book....How much proof would be required to take "your" money and give back to the book...

Sister books, sure, they are under the same company.....If you bounce a check at Walmart in Texas, the Walmart in Florida wont take your check either "same system"......But Kmart probably would.......they dont know...

A sister book can see the info, and know that there is a reason they are owed, in this case, the grading error, no proof from outside source would be needed..

bucsfan67 · Feb 17, 2005

bucsfan67 said:
would be very tricky to start getting involved in that....

Suppose one of the books is a "rogue" book....How much proof would be required to take "your" money and give back to the book...

Sister books, sure, they are under the same company.....If you bounce a check at Walmart in Texas, the Walmart in Florida wont take your check either "same system"......But Kmart probably would.......they dont know...

A sister book can see the info, and know that there is a reason they are owed, in this case, the grading error, no proof from outside source would be needed..

*** on a side note, Cincy, i wouldnt leave your billfold laying around when this "friend" visits......geesh

jwunderdog · Feb 17, 2005

" doubt a non related competing book has the right to hold or transfer a players funds without his permisssion not matter what kind of error was made in the players favor at another non related book. Compare the situation to banks for example: if a Bank cashed a check for you and over paid you $100 can that bank call a competitor bank and ask them to pay your $100 out of an account you have there?"

These are not banks, banks are regulated. Better comparison is you stiff one local book, and another local that owes you finds out!

By the way a bank makes an error and you take the cash and won't give it back, guess what? see you in court and you will lose.

Woody0 · Feb 17, 2005

bucsfan67 said:
*** on a side note, Cincy, i wouldnt leave your billfold laying around when this "friend" visits......geesh

ROTFLMAO!

wilheim · Feb 17, 2005

Jwunderdog

banks are regulated

You most likely have never lived or banked in Latin America. Anything can and will happen given enough time, money and transactions threre of. To be honest I used the banks a lose example. Natrually sportsbooks can get away with more than the average business when it comes to their clients money.

wil.

nimue77 · Feb 18, 2005

Twice I was given a whole lot of extra $, once at two different books. I reported it both times (and both have lowered my limits so much I no longer use them). Always wondered what wouldve happened if i'd just tried to withdraw.

cincy_ · Feb 18, 2005

bucsfan67 said:
would be very tricky to start getting involved in that....

Suppose one of the books is a "rogue" book....How much proof would be required to take "your" money and give back to the book...

My thoughts exactly.

I don't have a problem with one book freezing money for a sister book in THIS case, but should a book IN GENERAL be allowed to do that?

What if one book is just pissed that a person with a $500 hit account hit a 6-team parlay and then took all his money to the shop across the street?

In banking, the mediator is the court - but in offshore books, unless we have a truly independent mediator, this is still the wild, wild west of sorts.