Post Up Shops Or Credit? Which Is Safer?

THE SHRINK · Feb 23, 2005

Since one of our main goals is to warn gamblers of betting establishments that aren't worthy of your business, I have often wondered if we can pass judgement on whether POST UP SHOPS OR CREDIT SHOPS are safer as a general guideline...

I do know that most POST UP shops that have FAILED have dipped into Players funds, whereas this problem is not an issue for CREDIT establishments...

Furthermore, if we review which of the two have had more failures, it would be the POST UP establishments.

However, since there are MORE post up operators than credit places, the % of failures is more important than the sheer number....

Again, I maintain that more POST UP bookmakers have failed percentage-wise than their counterparts...

But, is this enough to make a generalization and suggest to gamblers that as a rule, your money is SAFER betting on CREDIT?

I'd love to hear what the majority think about this...

THE SHRINK

Journeyman · Feb 23, 2005

I heard a guy tell me he was stiffed by an agent, is the book responsible when the agent stiffs ?

Dante · Feb 23, 2005

I would think a Credit Shop is safer as you do not actually send them post up money??? is that correct? :icon_conf

But I prefer a rock solid Post up shop like Oly or Pinny at any rate ...

THE SHRINK · Feb 23, 2005

Journeyman said:
I heard a guy tell me he was stiffed by an agent, is the book responsible when the agent stiffs ?

Journeyman,

That is an excellent question that has no absolute answer.

The same holds true about whether or not the CREDIT SHOP is responsible for an agent who goes bad...

Obviously, if the AGENT guarantees the CREDIT shop, then he is RESPONSIBLE. If the CREDIT SHOP guarantees the AGENT, then they are responsible if the Agent goes under...

It is vital to ask both the CREDIT SHOP and THE AGENT this question before doing business with either...

THE SHRINK

Journeyman · Feb 23, 2005

This well known poster informed me he was stiffed by a well known books agent...in turn he stiffed the book at a later date, and is now being considered the stiff...I wish he would come out and tell his entire story, I doubt he will.

RobFunk · Feb 23, 2005

having never played at a credit shop, im not really qaulified to speak about this but doesnt it just come down to the people who run the place and the people involved?!

WorldNumberOne · Feb 23, 2005

Shrink, or someone who knows,

could you take me through the process of becomming a credit player ?

you dont just call up a credit shop and say i'm here and ready to play , when do we settle up ?

do you make your plays through someone else who then lays it off . then that person collects or pays out ?

i've obviously played with a local before and assume its similar.

take me through the process if you would be so kind.

thanks

Rainbow · Feb 23, 2005

I think the credit shop is much safer, but I would be real selective who I played with. as for who"s responsible if a player doesnt get paid from his agent, in most cases if the player is a good customer the book will pay him and start doing business with him independently. but I dont think the book is responsible unless the agent was short of cash and the book knew that, and he was working with him.

RobFunk · Feb 23, 2005

yes rainbow but once you hit that settle 50k or whatever, its pretty big to most of us, how do you know you will get paid? i think thats what hes talking about. how can expecting those big settle amounts in your favor possibly be safer?!

this is what it boils down to

A: post up shop running off with your deposit money or any winnings you had

B: credit shop stiffing you once you reach a settle amount in your favor, even though they gladly collected in the past

which scenario is more likely to happen?

Hitman26 · Feb 23, 2005

World Number One:

To play on credit you must meet an agent. The agent will set you up with an account number, password, and a credit limit. He will give you the phone number and/or website. The agent is responsible for the security of funds to the book. If the player stiffs the agent, he still has to make good to the book. A standard deal is a 50/50 split between the book and the agent of net losses. The first credit account I was ever granted had a credit line of 500 bucks. 6 years later I still have the same account but the line is now 20k. Kinda like a credit card, if the agent sees you are solid he will give you more and more credit along the way.

Rainbow · Feb 23, 2005

RobFunk said:
yes rainbow but once you hit that settle 50k or whatever, its pretty big to most of us, how do you know you will get paid? i think thats what hes talking about. how can expecting those big settle amounts in your favor possibly be safer?!

this is what it boils down to

A: post up shop running off with your deposit money or any winnings you had

B: credit shop stiffing you once you reach a settle amount in your favor, even though they gladly collected in the past

which scenario is more likely to happen?

I dont think you would EVER have a problem with Olympic, Cris, Pinnacle, Grande, and WWTS. these books will always pay and I know they have more.

JohnBuzz · Feb 23, 2005

It of course depends on each operation. However, the square postup business with multiple revenue streams ie. horse racing, casino, poker, ect., are by far the most profitable. Examples would be Bet365, VIP, Sportingbet, Bodog.

JimFiestSux · Feb 23, 2005

Post up shops should be safer,BUT, they get greedy and instead of trying to even out their wagers they sit on a one sided affair and get burnt very often. If a post up shop evens its bets out closer than a onesided affair you'll really never see any go under. This is why there is a VIG. What happened to living off the vig?? On post up you should get paid easier. As for an agent, doesn't he have one figure with the shop and its up to him to get the money from Peter to pay Paul??

spreadbeater · Feb 23, 2005

Has anyone ever played with SOS based on credit?

RobFunk · Feb 23, 2005

thats really what intrests me also, spread. I have zip desire to play on credit, but I would like to know about the privalaged/select few who have played at the big time post up shops on credit. I doubt we'll here about it, becuase whomever that says they play @ oly or cris on credit for example will just get flooded with questions on how they got to play there on credit rather than discussing the actual expierence.

UWinSports · Feb 23, 2005

Credit is safer for the player. Post up safer for the book.

With credit its a no lose situation for the player as long as threats dont scare him.

GREENHEAD · Feb 23, 2005

AnthonyRichkas said:
Credit is safer for the player. Post up safer for the book.

With credit its a no lose situation for the player as long as threats dont scare him.

I disagree with this statement 100%.Lots of times your credit line is much more then one can really afford.Post up is not safer for the book becouse,I personally know 2 books that advertised here to get bigger and they did with big deposits and almost 200 players in 2 months.Well in the next 3 months these guys lost so much money from these sharps that theyll never advertise at the RX again.They want the credit,square player that the agent knows from the local bar,racetrack,etc.

spreadbeater · Feb 23, 2005

RobFunk,

I asked about SOS because I am currently playing there on credit and was wondering if anyone else has ever done the same.

WalkofLife · Feb 23, 2005

I don't think there are any points of comparison between a post-up shop and a credit shop. I seriously doubt this is actually relevant for the average poster/player... I mean it's not like you will get on credit just becasue you want to and because you post a lot.

The 2 business models are 2 different breeds of animals.

In the post-up business the player absorbs most of the risk, as he needs to funds his betting account upfront.

In the credit business, the risk is mostly absorbed by the agent and the shop. In most cases the book is simply providing a service, not guaranteeing the agent's bankroll.

Simply not to be compared. One thing is for sure: there's no sharper beast on Earth than a post-up sharpie. Not only does he beat the odds consistently, he also is a proficient fund manager. A dangerous combination of talent and hard work for any bookie.

spreadbeater: i wouldn't recommend for you to post stuff like that up there. It's not intrinsically wrong, it's just not in your best interest.

THE SHRINK · Feb 23, 2005

Walk of Life said:
One thing is for sure: there's no sharper beast on Earth than a post-up sharpie. Not only does he beat the odds consistently, he also is a proficient fund manager. A dangerous combination of talent and hard work for any bookie.

I don't know about that Will...

BW doesn't normally post up and I understand he's pretty sharp for most books to tackle....:muscles: