:smoking:
I feel bad for the players at Betislands. I played there myself but had nothing there currently...hope not many at the RX lost too much...
I guess sometimes the hype outweighs a book's true backbone and standing in the industry...I wouldn't completely blame sbr for this but the book did move up to the top a little too fast.. I have used many books rated a lot less that are still open.. but you are playing in a minefield sometimes and you just have to dodge an explosion...
Suggestion for the future is no matter what book you play at even if 5dimes or Pinnacle..just keep your balance relative to what you can afford to lose if the situation got bad.. I would say 5-10X deposit if you are a light depositor.. or 2X bankroll if you are a season depositor.
just an opinion
-murph
I feel bad for the players at Betislands. I played there myself but had nothing there currently...hope not many at the RX lost too much...
I guess sometimes the hype outweighs a book's true backbone and standing in the industry...I wouldn't completely blame sbr for this but the book did move up to the top a little too fast.. I have used many books rated a lot less that are still open.. but you are playing in a minefield sometimes and you just have to dodge an explosion...
Suggestion for the future is no matter what book you play at even if 5dimes or Pinnacle..just keep your balance relative to what you can afford to lose if the situation got bad.. I would say 5-10X deposit if you are a light depositor.. or 2X bankroll if you are a season depositor.
just an opinion
-murph
well the fact that 7red being bought by betislands was a sham means that nothing is wrong with them.. it was a "stretch of the truth" by Jon from betislands...
In his words, " We have aquired 7redsports...." is really kinda funny because (this is just through grapevine of people I know in industry, I have no 100% factual proof) 7red was really looking over betislands books for a few days to see if they could help Bail them out.. betislands was broke..and needed a new financial backer.. 7red's backer had a ton of money so they were considering it.. until they realized Betislands was millions in the hole.. and decided against it....since then sbr nor betislands (because they may have ran off with money) never came clean that the new backer deal fell through...
Some of this could be inaccurate but I do believe I am pretty close to what really happened.
As far as I know at this point, betislands is dead and no other parties are involved.
-murph
instead of editing this at all I will say I might have some of this information wrong (as I already stated the info I had was not fact, it was assumptions based on information I had known and heard in the past or present )
I do believe 7red and betislands might be under the same umbrella based on a chat I had with customer service for you all. I asked them to come here and make a statement on this because the chat representative assured me that they know of the betislands situation and want to point out that they are separate companies.. just that betislands might have lost funding because they were doing business the wrong way and giving too many freebies away and not limiting action, whereas 7redsports is continuing on like normal and has the ability to do payouts today just like normal days.
This does make sense to me though.. because betislands was not cutting out sharps or guys who smashed them before.. they continued to offer 100% bonuses to the same guys who pulled out 5-10k+ regularly... I know that 7redsports has a risk assessment and review department that would not allow this to happen if a player had a long term advantage.
Once again.. things are developing, and I do not know all.. I am finding out info for you guys only because I care about the welfare of our posters and people who have funds in any of the books in question.
-murph
Bottom line people, you need lots of money to make this work, a good business model to sustain growth, and a keen eye on the type of players involved. Booking is like any other business and if any part of it fails, you will fail. Its just a matter of time. With that being said, it wasn't just teasers that killed em Chop.
