kapono, I can't have it both ways. I know that.
For 3 weeks I have been dragged over the coals with people accusing me of everything from hiding the truth to outright standing in the way of deals. None of that has been happening.
I have been the biggest cheerleader of a deal since the moment this happened. In fact, I think the biggest problem people have had with me during this whole affair is that I've been too optimistic in my posts when I should have been more realistic., so to have you accuse me me of hoping otherwise is frankly kind of funny.
A deal would absolutely be the best case scenario for the players.
But if you want me to blow smoke up your asses by saying one is definitely going to happen, I won't. I went down that path two weeks ago and got burnt badly.
And now I have people asking me valid questions why these deals are not happening. So I am giving my honest opinion.
And seriously, do you really think that anybody involved in a deal like this wouldn't come up with all of these questions themselves? Of course they would, and did. They are businessmen and they have to consider the risks, and they do.
Those public offers were just that. Public offers. Once they get down to brass tacks, offers change quickly. All of the other sites know this too, but it was more fun for them to pretend otherwise.
Now everybody is realizing the truth.
As for your other questions and points...
Yes, I believe the DOJ got all their money. I've got no way to prove this, but I believe it. They were a small operation and didn't put enough time and effort into covering what they thought was a small and unlikely risk by spreading their bank accounts across multiple banks and countries. They kept it simple, and paid for it.
Another point worth mentioning is the fact that having a complex banking structure takes a lot of time, effort, and costs, and it's not something ANY business would consider unless it was vitally important. Everyone can agree on that.
Well, the only real reason it was necessary for a sportsbook was if your business was in the habit of regularly transferring major chunks of cash, five-figures or more, between yourself and your clients. Most offshore sportsbooks have this in place because they have networks of agents and whales that they service. They need lots of banks and countries to keep the Feds from spotting any patterns.
A small rec book like betED had no use for that. All of their transfers were very small. They could use ACH. There was no need for anything complex. It wasn't until Black Friday and the sudden threat of money laundering indictments that it became a risk factor for betED - and then it was too late. So while they definitely should have done a better job of hedging, it wasn't really something that was on the radar either.
Finally, about the DOJ, you are probably right. However, I definitely believe that the amount seized will cover the player accounts, and that's all I care about, frankly. And - hey - who's being negative now?