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Originally Posted by Post-Oak
I don't believe they are low on funds. I believe they were having processor issues (looks like they may have fixed them now). This has happened in the past. They have paid me large sums over the years, but there have been times when they have processor issues and it take a long time to get payed. At other times, they are able to send bank wires which take 48 hours or less (really blew me away the first time this happened).
In my experience, a book basically begging players not to cash out for whatever reason (in this case, offering a big bonus to players for retracting their cashout request) is a huge red flag, particularly at a time when books should be flush with deposits.
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How sure are you that you remember this correctly? I had +EV futures bets cancelled by a sister book of Sportsbook which DID leave the US market (was called sportingbet or sportingbetusa or some ****). Sportsbook never cancelled any of my futures bets and never claimed to be leaving the US market. Are you sure you are not ****ing up this story?
Yes, I am sure I'm remembering correctly, and this was a couple months before Pinnacle left the US market. As I recall Pinnacle left in Jan 07 and these future cancellations happened in the 2nd or 3rd week of Oct 06 (it was during the NLCS and ALCS.) I only had an account with one book in the sportsbook.com family, the main sportsbook.com site. When they announced they were leaving the US market, they voided all of my pending futures and invited me to open an account with a sister book playersonly.com. So I opened an account with playersonly.com and assumed that they would simply transfer over my pending futures, but they didn't. I filed an SBR complaint and Dozer's exact words were "there's no reason they can't transfer your pending futures to the new book" but they never did so. I'm sure it's not a coincidence that my pending futures had significant +EV. Very shortly after sportsbook.com voided my pending futures, I believe 3 weeks later, I got an email from them that they were returning to the US market.
I'm not sure if the leaving the US market and then returning thing had to do with reorganizing the company or what, but the fact of the matter is that I had lots of pending futures cancelled for no good reason. If they really had to leave the US market immediately, I told SBR I'd be more than happy for a mediator to calculate current value of the futures and give me that but sportsbook.com was unwilling to transfer any of my bets from sportsbook.com to playersonly.com.
Most of the CPs of mine that they voided weren't even all that ridiculously correlated. I had a lot of hockey ones that, while +EV, weren't exactly printing money.