all sportsbooks use players' fund for day to day operations?

sunnyblue100 · Aug 10, 2006

marketing, acquisitions, etc?

sunnyblue100 · Aug 10, 2006

and they don't even have close to 50% of all players' deposit at one time?

Jabow · Aug 10, 2006

lol, let me not go there with this, "someone" claimed that they (the book) have a special account with ALL the players money and if the players all at once took withdrawals they had it. lol

Paterno · Aug 10, 2006

Jabow said:
lol, let me not go there with this, "someone" claimed that they (the book) have a special account with ALL the players money and if the players all at once took withdrawals they had it. lol

Doesnt UK publicly traded books have to be audited? If this is the case, a Big4 auditing firm would verify these players balances would be an escrow account.

*I have not reviewed their audit opinion or balance sheet, but this would have to be done if this was a US company.

Santo · Aug 10, 2006

Betfair are the only one I know of who claim and support an escrow account, and they're an exchange so why not..

winbet · Aug 10, 2006

Betfair and Betdaq are the only sure Money holders, The Big 3 technically could steal your money but like any books with real estate ( betting shops) are highly unlikely to do the runner. Outside of all them, your cash is in the lap of the Gods, especially where Governments can step in. :drink:

sunnyblue100 · Aug 10, 2006

sportsexchange works differently, but guess for all sportsbook

if for whatever reason, no money flows in for a while , they won't be able to process withdrawals
sad but that's the risk :cryingcry

Santo · Aug 10, 2006

My tradebetx funds are in a segregated bank account for which they send me a statement, though they do apply a charge to this service ($50pm), and I recieve interest at 3% PA. I've not yet investigated Mansion/Matchbook segregation policies.

HerzvanRentle · Aug 10, 2006

SportingOptions betting exchange went under because they went on a spree of using client funds to seed liquidity into their own markets and lost big time. Theft basically. So don't think it's impossible for a betting exchange to cheat you.