MajorWager Back in the Game

#13
Major and Freddy knew Ace's Gold was going down and did not tell anybody. Kind of a full contact forum with a lot of controversy.

That Machiavelli supposedly wrote a software program that he was killing WSEX with in their style of live betting. (point spread stayed the same but the price to buy a contract changed). Supposedly was paid 100k for the software and signed a non compete?

Reno - Krackman had quite a bit to say. There were quite a few interesting personalities.
 
#17
The thing about sportsbooks is we do not get to see their balance sheets. Who to believe has not gotten much easier but look at how much more stable funds have become since those rowdy days. There were a lot of agenda's by a lot of people. Kind of like the wild west - "Every man for himself"
 
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#19
The thing about sportsbooks is we do not get to see their balance sheets. Who to believe has not gotten much easier but look at how much more stable funds have become since those rowdy days. There were a lot of agenda's by a lot of people. Kind of like the wild west - "Every man for himself"

I think the top books have been very stable for a very long time now. Save for WSEX who i believe got screwed in 2008 because of their investments
not because of their booking.
And that is with the US govt messing with their banking
 
#20
It would be pretty interesting to learn the story within the story. So, Slippery you are saying it was way more than a processor getting nailed by the DOJ and bad investments that lost money were the key. (brutal - they badly invested the post up money and screwed up a good business). They were pretty staunch in their beliefs that they did not have to offer bonuses to get deposits. They had to break from that stance as competition was getting the post up money that way. Even though WSEX more or less invented live betting other companies started taking it to a new level with more offerings.

My theory is their bookmaking or lack of eventually left them one sided when players became sophisticated enough to not pay high juice for favorites and to shop for the best price. Their prices were biased and their dog side had value time after time. The only bets they must have got then were the sharps who just kept pounding away and winning.

So, you have three owners - you wonder how much they pulled out of the Golden Goose and apparently could find no way to stop the bleeding. Their style was not going to guarantee a good year every time. But, RIP - they certainly did a lot of things well for a long time. Steve Schillenger was real decent on the phone. Sorry, it had to end like it did.
 
#22
It would be pretty interesting to learn the story within the story. So, Slippery you are saying it was way more than a processor getting nailed by the DOJ and bad investments that lost money were the key. (brutal - they badly invested the post up money and screwed up a good business). They were pretty staunch in their beliefs that they did not have to offer bonuses to get deposits. They had to break from that stance as competition was getting the post up money that way. Even though WSEX more or less invented live betting other companies started taking it to a new level with more offerings.

My theory is their bookmaking or lack of eventually left them one sided when players became sophisticated enough to not pay high juice for favorites and to shop for the best price. Their prices were biased and their dog side had value time after time. The only bets they must have got then were the sharps who just kept pounding away and winning.

So, you have three owners - you wonder how much they pulled out of the Golden Goose and apparently could find no way to stop the bleeding. Their style was not going to guarantee a good year every time. But, RIP - they certainly did a lot of things well for a long time. Steve Schillenger was real decent on the phone. Sorry, it had to end like it did.
The only good thing I could say about BetUs.com was they kept the fox out of the hen house...
Let the squares bang the favorites all night long but do not feed the animals (pros).....
 
#24
There have been sportsbooks that have closed like WWTS and BetJamaica and the players balances transferred somewhere else. That is respectable. But, a scenario where owner(s) pay themselves during the good years and accumulate a chunk of money to live on and then draw a line in the sand and run with it when times get tough. That is kind of rotten.

But, going back to what Slippery said about investments. WSEX guys were commodities traders before sports. To take players post up and invest it in commodities would not be respectable. In the real word that is a criminal offense.
 
#26
Just a guess on my part. if you remember Allen Stanford operated a massive ponzi scheme and was based in Antigua. Stanford was busted in 2009. Always wondered if WSEX owners lost money in that ponzi scheme. i know WSEX was in trouble before that but at least maybe the WSEX owners lost their personal money they had put away for retirement. Didn't the one owner Schillinger commit suicide?
 
#27
Just a guess on my part. if you remember Allen Stanford operated a massive ponzi scheme and was based in Antigua. Stanford was busted in 2009. Always wondered if WSEX owners lost money in that ponzi scheme. i know WSEX was in trouble before that but at least maybe the WSEX owners lost their personal money they had put away for retirement. Didn't the one owner Schillinger commit suicide?
Yes, he did - according to what I read-I have no proof or documentation That is a sad end and, of course, we do not know the circumstances leading up to the event. Maybe, to have it made and lose it? There was a lot of conversation about once a person was in the sports book business as an owner - it would never be possible again to come back to the USA without getting arrested. I suppose a person can put up with that if there was enough spending money? But, broke and out of work might be unbearable?

Steve took my call a few times during the years on something I guess I thought was important and he was real friendly to talk to. I hope they did not have 99 other players they owed 10 k or more to like me that were jerks. I am not saying I can tell by someone's voice on the phone if they are a stand up person or not. But, that is what I choose to believe about Steve. They never once told me - hey - you are winning and we do not like guys like you. I took it like - hey we are taking our shot with you - We know what you are looking for and if you lose you will send in more money. During that time period I bet the crappiest - lousiest stuff to look at - but it had math value and I was willing to roll with it because I was playing with house money. I just kept winning but could not collect it so I guess I really did not win after all. LOL
 
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