Internet Gambling Phone Conference

[The Judge]

Life After Neteller Debacle

February 8, 2007

Many industry leaders attended a very important meeting last night. We focused mainly on Internet sports betting and the ramifications of Neteller shutting down its services to US citizens.

I came away from this conference a lot more educated about the banking side of our industry, since some experts were spotted and they had a lot to say.

Here is a little of what I took away from this meeting:

1- The banking situation is a nightmare. Many well funded sports books are having difficulty sending money out to players. Many players are having the same problem transferring money to their favorite sports books.

Therefore, what we used to define as a "slow pay" (more than one week) is no longer just or fair in light of our current climate. Some players have had to wait almost two weeks to receive pay outs from elite Bookmakers.

2- The industry needs to work together now more than ever. Posters should avoid spamming message boards with unsubstantiated rumors. Website owners need to put their egos aside to help fight for our rights to gamble online. We all need to get off of our islands and help one another WIN this battle against overzealous bureaucrats.

3- Bookmakers MUST start to do MORE transfers amongst sports books to make it easier for customers to gamble online. Players would rather transfer money from sports book to sports book instead of having to utilize banking options. The best way for sports books to regain trust and gain more business is to HELP MAKE IT MORE CONVENIENT for gamblers to move their money from BOOK A to BOOK B with a simple request to either of these books.

4- Players must also compromise and avoid asking for so many pay outs at this time. The cost of sending money back to the player is enormous. Therefore, if we want the Bookmakers to bend by doing more transfers, then we, in turn, can help them out by not asking for as many withdrawals, period. Only send money you intend to keep abroad for awhile, and if that means sending less, then send less.

5- There was a lot of talk about YOUTELLER. They are privately owned and they seem to be positioning themselves to be the next Neteller. I will reserve judgement on this until I am done gathering facts. It would be safe to say that our attendees were also guarded about YouTeller at this time.

6- I would like to spend a moment talking about TRUST. The Department of Justice would have you believe that online gambling entrepreneurs can not be trusted. Here is my reply. Given the current climate, this would have been the PERFECT opportunity for online bookmakers to shut down, cite banking issues as the culprit and elope with everyone's money! How many sports books have done this? Does the number ZERO come to mind?

7- The future of Internet gambling was debated rather vigorously. Some in attendance were more optimistic than others. What nobody could refute is the fact that a very reputable sports book has hired a prominent lobbyist who is currently fighting for our rights on Capitol Hill. Yes, I know this should have been done long ago, but at least I am happy to report it is indeed occurring as I write and I am told significant progress is being made.

To conclude, I am very happy to report that 41 people involved in online sports betting dialed into this conference and another one is scheduled next month.

I'd like to thank some PROMINENT sports books who attended (they do not wish to have their names revealed), DON BEST, CAPPERS MALL, COVERS, HANDICAPPER.NET, GJ UPDATE, ASTRAL GROUP INC, JMC Collections, BUZZ DALY, RUSS CULVER, NFO GAMING GROUP, WISE WAGERING, LAS VEGAS ADVISOR, THE ONLINE WIRE, SPORTS CAPPER, Sports Handicapping Forum, JMC Collections, FEZZIK (Fezziksplace), YOUTELLER, and GAMEDAY INSIDER

If anyone would like other issues discussed, please drop me a note. If other operators wish to attend the next meeting, I also encourage you also to contact me.

THE SHRINK

[The Judge]

Hey Jack, any insight gained from the conference call that you can share with us?

[Dr. Jack]

I think it was a good start and a very good idea.

It gave some people a chance to speak their mind about legitimate concerns.

There were some facts presented but it was mostly a lot of discussion. I am glad I participated and think a lot of positive will eventually come from it.

I don't mean to sound short I am just a bit rushed today. I will write something on my take of the overall meeting in the near future or by end of weekend.

[Quaker639]

I tired to get in on this...

Ken said representing myself was not enough lol

[hammink]

Thanks for all the great information Judge.