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    All Forums | Gaming Industry - US

    betED deal example... Good or bad?

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    BetToWin
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    BetToWin
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    Posted: Jun. 9, 2011 - 11:40 AM ET #26

    Sounds like an OK deal to me.

    But if they can get the same deal without the 90-days, even better.
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    Sounds like an OK deal to me.

    But if they can get the same deal without the 90-days, even better.
     
    beldar123
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    Posted: Jun. 9, 2011 - 11:41 AM ET #27

    good
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    good
     
    gamble04
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    Posted: Jun. 9, 2011 - 11:46 AM ET #28

    Any guesses as to what sportsbook it is that is going to take over the beted accts?
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    Any guesses as to what sportsbook it is that is going to take over the beted accts?
     
    richsox24
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    Posted: Jun. 9, 2011 - 11:53 AM ET #29

    Quote Originally Posted by gamble04:

    Any guesses as to what sportsbook it is that is going to take over the beted accts?

    At this point, Im not sure anyone has any idea.  But should this deal go down with the 90 day hold, it better at least be an A rated book that players feel safe for keeping a balance in for 90 days

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    Quote Originally Posted by gamble04:

    Any guesses as to what sportsbook it is that is going to take over the beted accts?

    At this point, Im not sure anyone has any idea.  But should this deal go down with the 90 day hold, it better at least be an A rated book that players feel safe for keeping a balance in for 90 days

     
    beyondx08
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    Posted: Jun. 9, 2011 - 11:54 AM ET #30

    I'm sure beted received better deals for the players than this. maybe it's not better deal for them. Since it's the players money they are holding. I think the players should have the right to choose the offer.
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    I'm sure beted received better deals for the players than this. maybe it's not better deal for them. Since it's the players money they are holding. I think the players should have the right to choose the offer.
     
    Freedom@Stake
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    Posted: Jun. 9, 2011 - 11:56 AM ET #31

    rich, I would never claim that betED isn't trying to cut a deal that benefits themselves too.

    Of course they are, and so would you in their position.

    But they also don't want to be known as the guys who sold their players down the river when there were better offers for everybody on the table. That's a great way to end up in a ditch somewhere - especially when your name has been printed all over the Internet.

    You've got to admit that makes sense, right? You can see how they might just have a little bit of incentive to look after the players, right?

    My point in this exercise is saying that they have received multiple offers from different places - and this is one they turned down because they were working an offer that was better for BOTH the players and betED.

    And if that deal doesn't come to pass, then I hope the same party that made this offer will step up and honor this offer or something better.
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    rich, I would never claim that betED isn't trying to cut a deal that benefits themselves too.

    Of course they are, and so would you in their position.

    But they also don't want to be known as the guys who sold their players down the river when there were better offers for everybody on the table. That's a great way to end up in a ditch somewhere - especially when your name has been printed all over the Internet.

    You've got to admit that makes sense, right? You can see how they might just have a little bit of incentive to look after the players, right?

    My point in this exercise is saying that they have received multiple offers from different places - and this is one they turned down because they were working an offer that was better for BOTH the players and betED.

    And if that deal doesn't come to pass, then I hope the same party that made this offer will step up and honor this offer or something better.
     
    beyondx08
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    Posted: Jun. 9, 2011 - 12:11 PM ET #32

    Ok, so all the players should expect a better deal than this coming sometimes this week or next?? And what was the offer in close negotiation that we suppose to know early this week but we didn't hear a word yet.
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    Ok, so all the players should expect a better deal than this coming sometimes this week or next?? And what was the offer in close negotiation that we suppose to know early this week but we didn't hear a word yet.
     
    Lippsman
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    Posted: Jun. 9, 2011 - 12:12 PM ET #33

    Quote Originally Posted by Freedom@Stake:


    And if that deal doesn't come to pass, then I hope the same party that made this offer will step up and honor this offer or something better.

    The only downside is the 90 day lock.  But again if you really want your money that's not a problem.

    Your a businessman Freedom. How many times have you known a company  to keep the same deal on the table,when they find out every other company has a worse deal ?  When you go back to company A that deal just isn't as good anymore.

    You come to me and I give you a very good deal on computers and services. Then I find out that you have shopped every other company out there and you don't like what they have offered.  You are damn right my deal now won't be as good when you come back.

    Again they had a pretty good deal here and they could get the players back in the game right now or very soon. They have no right to keep the players money tied up looking for better deals for thierselves.  They made a mistake, they got busted.  You will have to excuse me if I don't really trust thier judgement anymore.

    If they get something better great. But they had better get it and damn fast.  Because if this offer disappears if they want to go back to it.

    Well.......

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    Quote Originally Posted by Freedom@Stake:


    And if that deal doesn't come to pass, then I hope the same party that made this offer will step up and honor this offer or something better.

    The only downside is the 90 day lock.  But again if you really want your money that's not a problem.

    Your a businessman Freedom. How many times have you known a company  to keep the same deal on the table,when they find out every other company has a worse deal ?  When you go back to company A that deal just isn't as good anymore.

    You come to me and I give you a very good deal on computers and services. Then I find out that you have shopped every other company out there and you don't like what they have offered.  You are damn right my deal now won't be as good when you come back.

    Again they had a pretty good deal here and they could get the players back in the game right now or very soon. They have no right to keep the players money tied up looking for better deals for thierselves.  They made a mistake, they got busted.  You will have to excuse me if I don't really trust thier judgement anymore.

    If they get something better great. But they had better get it and damn fast.  Because if this offer disappears if they want to go back to it.

    Well.......

     
    Freedom@Stake
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    Posted: Jun. 9, 2011 - 12:27 PM ET #34

    I can't promise anything. Ever again. 

    All I know is that they told me they had a better offer (for everybody) from a book they thought would be less controversial for the players than betonline. It was a win-win, so they felt it was a no-brainer to follow that path.

    I'm not even saying that the offer I printed came from betonline, because it looks quite a bit different than the offer betonline is claiming elsewhere to have made.

    And you are right about the general rule about offers changing when you come back for a second look.

    That's one of the unfortunate rules about deals like this. You have to choose your dance partner and hope you chose correctly the first time.

    That's 100% of the reason why I have been resisting publishing any offers until the process was finished, but my hand was forced by the misleading information coming from other sources. People were claiming offers were made that had no resemblance to the offers I heard about.

    I've been saying over the past several days that there was NOTHING to be gained from publishing these offers and putting undue pressure onto betED to close a deal with one particular operation. That's a direction other sites took, and while I question their motives, there's not a lot I can do about it.

    I will also say that if any offers get changed then I expect the same firestorm of criticism for their opportunism as we are seeing right now towards betED. So I think it's in everybody's best interest to keep playing on an even table.

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    I can't promise anything. Ever again. 

    All I know is that they told me they had a better offer (for everybody) from a book they thought would be less controversial for the players than betonline. It was a win-win, so they felt it was a no-brainer to follow that path.

    I'm not even saying that the offer I printed came from betonline, because it looks quite a bit different than the offer betonline is claiming elsewhere to have made.

    And you are right about the general rule about offers changing when you come back for a second look.

    That's one of the unfortunate rules about deals like this. You have to choose your dance partner and hope you chose correctly the first time.

    That's 100% of the reason why I have been resisting publishing any offers until the process was finished, but my hand was forced by the misleading information coming from other sources. People were claiming offers were made that had no resemblance to the offers I heard about.

    I've been saying over the past several days that there was NOTHING to be gained from publishing these offers and putting undue pressure onto betED to close a deal with one particular operation. That's a direction other sites took, and while I question their motives, there's not a lot I can do about it.

    I will also say that if any offers get changed then I expect the same firestorm of criticism for their opportunism as we are seeing right now towards betED. So I think it's in everybody's best interest to keep playing on an even table.

     
    mixitup44
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    Posted: Jun. 9, 2011 - 12:35 PM ET #35

    I think any huge rollover like a 10X is ludacris. However, I may not be understanding this correctly. With the above example the 90 day waiting period does that mean that if you don't bet and don't hit the 10X rollover are you able to take the money out after that 90 day waiting period or do you have to have a 10X rollover until your aloud to take your money out?

    I think the principles behind any deal that is actually going to be beneficial for the players must allow them to take their own money out on their own terms without holding them accountable for large rollovers. I will stay with whatever book they make a deal with simply for the action but I don't want any bullshit rollover problems.

    Clarification wouold be great on the above question freedom, I appreciate it.

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    I think any huge rollover like a 10X is ludacris. However, I may not be understanding this correctly. With the above example the 90 day waiting period does that mean that if you don't bet and don't hit the 10X rollover are you able to take the money out after that 90 day waiting period or do you have to have a 10X rollover until your aloud to take your money out?

    I think the principles behind any deal that is actually going to be beneficial for the players must allow them to take their own money out on their own terms without holding them accountable for large rollovers. I will stay with whatever book they make a deal with simply for the action but I don't want any bullshit rollover problems.

    Clarification wouold be great on the above question freedom, I appreciate it.

     
    richsox24
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    Posted: Jun. 9, 2011 - 12:44 PM ET #36

    Quote Originally Posted by mixitup44:

    I think any huge rollover like a 10X is ludacris. However, I may not be understanding this correctly. With the above example the 90 day waiting period does that mean that if you don't bet and don't hit the 10X rollover are you able to take the money out after that 90 day waiting period or do you have to have a 10X rollover until your aloud to take your money out?

    I think the principles behind any deal that is actually going to be beneficial for the players must allow them to take their own money out on their own terms without holding them accountable for large rollovers. I will stay with whatever book they make a deal with simply for the action but I don't want any bullshit rollover problems.

    Clarification wouold be great on the above question freedom, I appreciate it.

    I honestly dont think a 5-10x rollover is a problem because the alternative is getting nothing. 

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    Quote Originally Posted by mixitup44:

    I think any huge rollover like a 10X is ludacris. However, I may not be understanding this correctly. With the above example the 90 day waiting period does that mean that if you don't bet and don't hit the 10X rollover are you able to take the money out after that 90 day waiting period or do you have to have a 10X rollover until your aloud to take your money out?

    I think the principles behind any deal that is actually going to be beneficial for the players must allow them to take their own money out on their own terms without holding them accountable for large rollovers. I will stay with whatever book they make a deal with simply for the action but I don't want any bullshit rollover problems.

    Clarification wouold be great on the above question freedom, I appreciate it.

    I honestly dont think a 5-10x rollover is a problem because the alternative is getting nothing. 

     
    Freedom@Stake
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    Posted: Jun. 9, 2011 - 12:48 PM ET #37

    mix: In the above deal, it would be 10X and wait 90. Both. Not one or the other.
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    mix: In the above deal, it would be 10X and wait 90. Both. Not one or the other.
     
    richsox24
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    Posted: Jun. 9, 2011 - 12:53 PM ET #38

    Quote Originally Posted by Freedom@Stake:

    mix: In the above deal, it would be 10X and wait 90. Both. Not one or the other.

    I think the betonline deal is a better deal for the "valued players" but at this point, i'll take anything i can get.

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    Quote Originally Posted by Freedom@Stake:

    mix: In the above deal, it would be 10X and wait 90. Both. Not one or the other.

    I think the betonline deal is a better deal for the "valued players" but at this point, i'll take anything i can get.

     
    jopo302
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    Posted: Jun. 9, 2011 - 1:05 PM ET #39

    I think what Beted is doing is pure BS. They should take the deal and stop fkin around.
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    I think what Beted is doing is pure BS. They should take the deal and stop fkin around.
     
    jopo302
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    Posted: Jun. 9, 2011 - 1:10 PM ET #40

    Quote Originally Posted by mixitup44:

    I think any huge rollover like a 10X is ludacris. However, I may not be understanding this correctly. With the above example the 90 day waiting period does that mean that if you don't bet and don't hit the 10X rollover are you able to take the money out after that 90 day waiting period or do you have to have a 10X rollover until your aloud to take your money out?

    I think the principles behind any deal that is actually going to be beneficial for the players must allow them to take their own money out on their own terms without holding them accountable for large rollovers. I will stay with whatever book they make a deal with simply for the action but I don't want any bullshit rollover problems.

    Clarification wouold be great on the above question freedom, I appreciate it.

    A 10 x rollover with a good book and  90 hold is reasonable given the current situation .

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    Quote Originally Posted by mixitup44:

    I think any huge rollover like a 10X is ludacris. However, I may not be understanding this correctly. With the above example the 90 day waiting period does that mean that if you don't bet and don't hit the 10X rollover are you able to take the money out after that 90 day waiting period or do you have to have a 10X rollover until your aloud to take your money out?

    I think the principles behind any deal that is actually going to be beneficial for the players must allow them to take their own money out on their own terms without holding them accountable for large rollovers. I will stay with whatever book they make a deal with simply for the action but I don't want any bullshit rollover problems.

    Clarification wouold be great on the above question freedom, I appreciate it.

    A 10 x rollover with a good book and  90 hold is reasonable given the current situation .

     
    depeche2
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    Posted: Jun. 9, 2011 - 2:48 PM ET #41

    Quote Originally Posted by Freedom@Stake:

    This whole situation has been very frustrating to me because I've been getting regularly tortured by people reading other sources and then coming back here and complaining that so-and-so apparently made betED a great offer and they turned it down. Therefore, the theory goes, betED must be in it for themselves.

    What's frustrating to me is that I was informed of one of these "great" offers that betED declined. And in fact it came directly from one of the operations that the other forums are begging betED to reconsider.

    So I won't name any particular names, but the offer was something like this:

    • betED gets cash upfront (very nice for them, they supposedly need it). 
    • betED also gets a sweet rev-share deal on the lifetime of those customers (again, another obvious plus for betED). 
    • The players get a 10X rollover, which is probably pretty standard. 
    • The players have to stay with the book for a minimum of 90 days, with the idea of locking them down till football season starts... huh?
    betED said they rejected that deal because they didn't think the players should get locked into something with time restrictions, and they have been working other pitches with other operations.

    But, as I said, I'm getting tired of the entire saga, and maybe this is actually a good deal for the players after all.

    So, I'm going to poll the betED players right now...

    Do you think a deal like this is a good deal or not? Would you want betED to make a similar deal?

    Because I know the betED guys read this forum and that deal was definitely a financial winner for them. So if you want them to pursue something like that, vote "Yes". 

    Otherwise they can continue down the path they are going.

    Start voting!


    Why would BetEd (who has apparently completely closed up shop) get (or need) any cash or rev-sharing?  They should ask for an offer than provides BetEd with $0 cash and $0 rev-sharing.  Then maybe they can trim down to 5x rollover and 45 days hold.  If BetEd accepts any cash or future revenue then the deal is sour.
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    Quote Originally Posted by Freedom@Stake:

    This whole situation has been very frustrating to me because I've been getting regularly tortured by people reading other sources and then coming back here and complaining that so-and-so apparently made betED a great offer and they turned it down. Therefore, the theory goes, betED must be in it for themselves.

    What's frustrating to me is that I was informed of one of these "great" offers that betED declined. And in fact it came directly from one of the operations that the other forums are begging betED to reconsider.

    So I won't name any particular names, but the offer was something like this:

    • betED gets cash upfront (very nice for them, they supposedly need it). 
    • betED also gets a sweet rev-share deal on the lifetime of those customers (again, another obvious plus for betED). 
    • The players get a 10X rollover, which is probably pretty standard. 
    • The players have to stay with the book for a minimum of 90 days, with the idea of locking them down till football season starts... huh?
    betED said they rejected that deal because they didn't think the players should get locked into something with time restrictions, and they have been working other pitches with other operations.

    But, as I said, I'm getting tired of the entire saga, and maybe this is actually a good deal for the players after all.

    So, I'm going to poll the betED players right now...

    Do you think a deal like this is a good deal or not? Would you want betED to make a similar deal?

    Because I know the betED guys read this forum and that deal was definitely a financial winner for them. So if you want them to pursue something like that, vote "Yes". 

    Otherwise they can continue down the path they are going.

    Start voting!


    Why would BetEd (who has apparently completely closed up shop) get (or need) any cash or rev-sharing?  They should ask for an offer than provides BetEd with $0 cash and $0 rev-sharing.  Then maybe they can trim down to 5x rollover and 45 days hold.  If BetEd accepts any cash or future revenue then the deal is sour.
     
    mtp104
    mtp104
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    Posted: Jun. 9, 2011 - 3:00 PM ET #42

    G

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    G

     
    depeche2
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    Posted: Jun. 9, 2011 - 3:39 PM ET #43

    Personally I think any deal whereby BetEd gets paid any sum of money now or in the future should be rejected.  That should all go to the players.  Period, end of story.  I never played at BetEd, that's just my opinion as a bystander.  Any deal where they accept funds is suspect and I'd encourage Covers to encourage BetEd to reject any financial incentive for themselves personally.
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    Personally I think any deal whereby BetEd gets paid any sum of money now or in the future should be rejected.  That should all go to the players.  Period, end of story.  I never played at BetEd, that's just my opinion as a bystander.  Any deal where they accept funds is suspect and I'd encourage Covers to encourage BetEd to reject any financial incentive for themselves personally.
     
    depeche2
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    Posted: Jun. 9, 2011 - 3:40 PM ET #44

    "betED gets cash upfront (very nice for them, they supposedly need it)."

    Need it for what?  If they have innocent employees to pay or valid creditors then that is one thing.  They could be paid directly.  But any other payment to BetEd or their principals is shady IMHO.
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    "betED gets cash upfront (very nice for them, they supposedly need it)."

    Need it for what?  If they have innocent employees to pay or valid creditors then that is one thing.  They could be paid directly.  But any other payment to BetEd or their principals is shady IMHO.
     
    Freedom@Stake
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    Posted: Jun. 9, 2011 - 3:43 PM ET #45

    Dude, I just want a deal done.

    I'm not accepting, rejecting, or pressuring anybody.
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    Dude, I just want a deal done.

    I'm not accepting, rejecting, or pressuring anybody.
     
    nepatriots_12
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    Posted: Jun. 9, 2011 - 3:53 PM ET #46

    Any deal is good, and the above one is def one any BetED player should be happy with...BetED is a complete joke of a book and be declining that offer they are showing just how pathetic and selfish they are.
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    Any deal is good, and the above one is def one any BetED player should be happy with...BetED is a complete joke of a book and be declining that offer they are showing just how pathetic and selfish they are.
     
    chrisd0413
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    Posted: Jun. 9, 2011 - 4:08 PM ET #47

    I lost a good deal of money at beted, so any deal would be good by me. I just have a question Freedom: In any deal that may get done, what would happen to any pending wagers such as futures? Would they still stand, would they be canceled and our money be returned to us, or would they just count as a loss no matter what? Or do you simply not know? I am just curious and if you do not know it is totally cool. Thanks for all your help too btw!
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    I lost a good deal of money at beted, so any deal would be good by me. I just have a question Freedom: In any deal that may get done, what would happen to any pending wagers such as futures? Would they still stand, would they be canceled and our money be returned to us, or would they just count as a loss no matter what? Or do you simply not know? I am just curious and if you do not know it is totally cool. Thanks for all your help too btw!
     
    Freedom@Stake
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    Posted: Jun. 9, 2011 - 4:22 PM ET #48

    Quote Originally Posted by chrisd0413:

    I lost a good deal of money at beted, so any deal would be good by me. I just have a question Freedom: In any deal that may get done, what would happen to any pending wagers such as futures? Would they still stand, would they be canceled and our money be returned to us, or would they just count as a loss no matter what? Or do you simply not know? I am just curious and if you do not know it is totally cool. Thanks for all your help too btw!

    Sorry, man. No idea. Probably depends on the deal.
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    Quote Originally Posted by chrisd0413:

    I lost a good deal of money at beted, so any deal would be good by me. I just have a question Freedom: In any deal that may get done, what would happen to any pending wagers such as futures? Would they still stand, would they be canceled and our money be returned to us, or would they just count as a loss no matter what? Or do you simply not know? I am just curious and if you do not know it is totally cool. Thanks for all your help too btw!

    Sorry, man. No idea. Probably depends on the deal.
     
    esplanade
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    Posted: Jun. 9, 2011 - 4:43 PM ET #49

    How much popcorn can one eat?
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    How much popcorn can one eat?
     
     
    Captain_Jack
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    Posted: Jun. 9, 2011 - 4:50 PM ET #50

    GOOD
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    GOOD
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