I have always said i am a stubborn old goat, who has very little patience for gimmicks and things that set off red flags in my brain. People hate me for that. But in this online gambling world, you will have a very short life span if you go believing everything you read and jumping on every band wagon even when there is no clear objective as to what the heck you are trying to achieve!!!
Case and point, this new "flava of da month" book called mansion that every one is raving about! I didnt really give a ratsass about this book until some one from covers dared me to find some dirt on the book because i was warning people to go do some research before buying into hype from some poster with questionable motives. This is what i came up with from TOW!!!! Its an old article from 2004 but speaks volumes as to the potential mine field people might be walking into with the backing of several Rx members who seemingly cant provide any genuine reasons as to the claims they make (outside of the fact that they too are members of the book. I guess some people might take comfort in knowing that if this this thing explodes in their faces then they will go down with other members of this forum)
http://www.theoffshorewire.com/articleView.aspx?AID=255
Now this is an article from 10/2004, but i feel it provides very solid pertinent information to the kind of situation people may be walking into here...
Be very careful signing up for books like this (as is recommend by TOW) and dont do things because XXXX said its a smart move. One thing you can be very positive of, is the fact that no one of this board will reimburse whatever money you "may" lose joining this book!!!
Those are the facts let people decide what to do for themselves
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Case and point, this new "flava of da month" book called mansion that every one is raving about! I didnt really give a ratsass about this book until some one from covers dared me to find some dirt on the book because i was warning people to go do some research before buying into hype from some poster with questionable motives. This is what i came up with from TOW!!!! Its an old article from 2004 but speaks volumes as to the potential mine field people might be walking into with the backing of several Rx members who seemingly cant provide any genuine reasons as to the claims they make (outside of the fact that they too are members of the book. I guess some people might take comfort in knowing that if this this thing explodes in their faces then they will go down with other members of this forum)
<TABLE cellSpacing=0 cellPadding=0 border=0><TBODY><TR><TH align=left VALGIN="TOP">IAS/Canbet and Mansion at War!</TH></TR><TR><TD align=left VALGIN="TOP">While busy with our due diligence on Mansion we have come across relevant information concerning the ongoing war between IAS/Canbet and Canbet's former management now working within Mansion's organization.
The note that IAS/Canbet sent to all customers last October 5th triggered our attention, in particular these two statements:
"Firstly, the former management team that was responsible for Canbet's poor business practice and performance has been removed with a new management structure taking over and generating improved results. Canbet's loss-making deals, arrangements and partnerships have been terminated. (The previous failed management has been dispersed most of which are now employed by the bookmaking company Mansions)."
"No Canbet debt has been transferred to the merged entity."
While the first passage represents a quiet unique attack to Canbet's past management and indirectly to Mansion, the second one is the most relevant for its repercussion.
IAS has basically dumped all previous debts, primarily with agents and promoters, on the shoulders of the failed team. This basically implies that creditors will hardly see their money.
But going back to the first statement, the unique attack, TOW has investigated the reasons behind it.
What we have uncovered is somewhat bizarre. When IAS came to the rescue of failed Canbet, the rescuer performed a deep audit of the number to understand why Canbet's reputable turnover (handle) didn't translate into profit (hold).
IAS found out that Canbet's management (now with Mansion) had entered into unaffordable marketing deals and had mismanaged the book bringing it on the verge of bankruptcy.
Subsequently IAS axle fell on Canbet's management. A couple of months later the same management showed up in Gibraltar and started Mansion, and here is where the problem begins.
IAS decides to change Canbet's business module and switches to 110. Two days later the full Canbet's database receives an invitation mail from....Mansion, now dealing 105.
In the following two weeks Canbet loses nearly 60% of its customers (the majority of which migrated to Mansion) and experiences massive withdrawals, money that flows out of Canbet and primarily flows into Mansion. IAS is then left with a greatly downsized Canbet. More than a reason to declare war to Mansion, now accused of being built on a theft.
It has taken us more than three weeks to verify the veracity of this story and, regretfully for Mansion, we have found substantiation to the above mentioned reconstruction of the chain of events.
Bottom line is that Mansion, although being backed by an extremely wealthy investor, is apparently built on a failed business model and run by the same management that had already failed with the same business plan.
The next question is how long will it take to Mansion's backer to realize the likelihood of facing a long streak of losses and how long will he be willing to support this losing proposition but, most important is.... will there be another savior at the end of the road or Mansion's customers will follow the tragic destiny that Canbet reserved to its agents and vendors but not (only thanks to IAS) to its players?
A secondary, and final question, is: will the pending debt of the failed Canbet haunt in any way its former management, now with Mansion?
Based on the findings during our due diligence we have rated Mansion 3 (High Risk Book) and, given the information gathered, we do not encourage players to sign up with this book at this time.
http://www.theoffshorewire.com/articleView.aspx?AID=255
Now this is an article from 10/2004, but i feel it provides very solid pertinent information to the kind of situation people may be walking into here...
Be very careful signing up for books like this (as is recommend by TOW) and dont do things because XXXX said its a smart move. One thing you can be very positive of, is the fact that no one of this board will reimburse whatever money you "may" lose joining this book!!!
Those are the facts let people decide what to do for themselves
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