Meeting of the Minds - A Great Start

[Dr. Jack]

Meeting of the Minds - A Great Start

The pessimistic view of the offshore industry has taken its toll on gamblers all over the United States the last few months, but mostly since the departure from the US by Pinnacle Sports and the arrests of former Neteller executives which led Neteller to also cut off US residents.

Last Wednesday evening I was invited to take part in a group conference call from industry leaders around the internet which featured representatives from portal sites, sportsbook operators, banking officials, handicappers and others who represent the offshore industry in some shape or form.

It was a great start and I thank Ken Weitzner (rx/eog founder) for putting it together. Obviously the situation we find ourselves in is not going to turn around over night however the passion from several industry representatives was clear and comforting as we try to fight back on this War on Internet Gambling.

The overall sense of the meeting was the offshore industry must find a way to stop the panic and stop the "sky is falling mentality". Most agreed one of the main factors was to find a logical solution so that the internet gambler was able to be paid quickly and efficiently from an offshore market. We all realize this is an extremely urgent situation that calls for the entire industry to work together. If it means more books participating in "book to book transfers" than that is what we have to get done. Some suggested that the average gambler would not mind being paid in 14 days if they new upfront that this is happening. This point was debated heavily as many argued that a 14 day payout was unacceptable and players needed to be able to get their money when they wanted it.

Some participants from the banking industry spoke about this being a crusade against terrorism (this was also debated) and suggested that any banking transaction for less than $1,000 should most likely not cause problems and probably go undetected. There seemed to be the feeling that the recreation player would be able to get around the problems much easier than a sharp that wagers and moves a lot of money around gambling sites.

There were several points that were brought up that I took comfort from. Some include the fact, that this would have been the perfect time for a sportsbook to use this as an excuse and run away with the customer monies. Some expected this to happen after the Super Bowl and the fact that no sportsbook has went this route is a positive for the industry. The few sportsbooks still accepting US business appear to be in this for the long haul.

Another comforting point was that one unnamed large sportsbook has invested millions of dollars on a lobbyist in Washington and that apparently has made some progress. The group has asked to inform the lobbyist that we have a large audience from various places on the internet that would like to get involved at the appropriate time.

There was not a lot of sugar coating at this meeting. Facts were presented and people were able to speak up with suggestion on how to move on and get passed this. One of the attendees was a bit more negative but most of the participants seemed to believe that things will end up working out. Some suggested this is only a setback which this industry has seen over the years and each and every time has rebounded stronger.

Some of the contents of the meeting would be better served not being posted on message forums all around the internet as we try to stay one step ahead. With that in mind I have left some sensitive information out of this article.

I would expect the next meeting to be another step in the right direction as the group aims to focus on what needs to be done to fix the problems and work together to accomplish a common goal. It was great to be able to listen, participate and represent our boards concerns or the many things I have been asked from Cappers Mall members.

What people should understand is there are many people in this industry with a lot of time, energy and most importantly money invested in the industry to just walk away without a fight. The Poker Players alliance did not become successful overnight and they are finally starting to make noise. Many people around the country support sports betting and the right to be able do participate in a hobby in the comfort of their own home. This is America and we should not sit back as our freedoms are slowly taken away.

I personally applaud the participants of the conference and look forward to the next one. Stay tuned - this is just the beginning.

Dr. Jack, CappersMall.com

[pwherr]

[The Judge]

Thanks for the recap, Jack. It is good to see that the industry leaders are sharing ideas and are willing to work together.

[johnny1212]

Thanx Jack. Keep us informed

[dherd]

any chance of partnering with the poker players alliance, any talk of that, also any way for average joe's like myself to chip in $5 -$10 towards some kind of representation in washington.

[Dr. Jack]

Originally Posted by dherd

any chance of partnering with the poker players alliance, any talk of that, also any way for average joe's like myself to chip in $5 -$10 towards some kind of representation in washington.

I don't think it's possible. The PPA has done their best to separate themselves from sports betting so not sure about that. Obviously partnering up with them would be great but I doubt it would happen. It was discussed though

[jaypasco]

Thanks guys

[doddi]

Thanks, Jack, and to all the meeting participants for their work.

Any group sentiment about what will shake out with Neteller funds?

[OldMan]

Good work and THANKS for keeping the masses infromed.

OldMan

[Brother Love]

kudos to ya jack!!
keep us posted bro!!

[Dr. Jack]

Originally Posted by doddi

Thanks, Jack, and to all the meeting participants for their work.

Any group sentiment about what will shake out with Neteller funds?

Well someone confirmed that a major book received a million dollar plus wire within the last few days so that was viewed as a good sign. With that being said - it was not really discussed much but I believe everyone is in agreement that is crucial for people's trust down the road. We'll see what happens and Cecil (see other posts) seems to be doing a nice job keeping up with the neteller stuff. Cross our fingers

[doddi]

Thanks for the response. Trying times, for sure, but we're all glad you guys are keeping the conversation flowing.

[Chicago RED]

Thanks Jack, for making sure that our forum member’s voices get heard. I think this is great that some of the industry leaders are not going down with out a fight. It is also great to hear that people are standing up for our right to wager.

I am sure the deposit and payout situation is a major thing that has to be looked into for most of the top books right now. On most forums poker and sports wise it seems many people are in a panic about how to get cash on and off many sites without having to go through a big hassle.

I think for now the whole gift card for depo's is a great thing, many sites have them for much lower fee's then an epassporte option. I know the e-check option was the best (in my eye's at least) But I think the gift card depo method has quickly became a favorite of mine. Gift cards have just became easy and hassle free, and the best part is you do not have to give out much info like your checking account #, and your social # like some of us had to do with citadel.

For the whole withdraw thing I think the best thing would be for the books to have there own Debit card, I know one of the malls top books do offer this option, I feel that it would not be a problem for me to switch to them just for that one feature that they offer. Which I will be doing next week.

I think many U.S. clients just may have a worry with using middle men such as a neteller in the future, I am sure there are still many mall members dealing with there cash on hold in a neteller account, that must bother many people. That’s why the whole gift card thing for depo's and the sports book debit card is such a great idea.

To put people’s minds at ease I think it will come down to the quick and easy deposit and payout. I know after the whole BetOnSports thing went down, and they were a huge sports book, many people now just play with there bank roll and that’s it, not many want to leave a full 10k profit in the account because people have no clue what will happen tomorrow. Let’s face it if a company with over a billion in loose cash can go down any company can.

The books will still have the Avg. Joe's playing just making his or her one bet for the weekend after a hard week of work and wanting to relax and have some action on a game, but with the cappers and the Joes one thing will stay the same, it comes down to trust. And nothing builds more trust then fast payouts, great support, and just a thank you for being a client, that free t-shirt, jacket, hat, or even tickets to a sports game you want to see goes father then many books think.

Many of things I listed above is just what I hear people talking about out loud and on forums, maybe there are a few good things here to bring up on the next phone conference call, if they were not brought up in detail in the last call. As for myself I never really worry too much about payouts, but it sure gives me a warm feeling to know when I want one I will be able to get one with ease, and when I want it.