As the book shopping season is in full swing we felt some helpful pointers
should be covered on selecting the right book to fit your needs. This is the
2003 update from the original article in Fall 2000.
Question: The top
question you should ask of your book is "Where are you located and how long
have you been in business."
Answer: Some of the best jurisdictions
are Antigua, Curacao, Belize, England, Australia and of course, Costa Rica.
Costa Rica, with hundreds of sportsbooks, finally introduced gaming licensing
last year, while Antigua and Curacao each have gaming bodies within the
government. England and Australia have real regulation, a gaming commission
similar to the Casino Control Commission here in the US. Some of the places that
have had problems over the years include Venezuela, Margarita Island, and St.
Kitts. Recently a shop has opened in Panama, you can include Jamaica now as a
good place since ESB moved out, and several reputable books are potentially
moving to the Dominican Republic. The offshore industry has been alive and
kicking for about 12 years – anyone telling you they have been around longer
than this is not speaking of their operation offshore! The vast majority of
books have surfaced in the last three years. With the climate of the industry
today any operations that are less than one year old should be
suspect.
Question: Next in the questioning should be "What are your
money transfer methods and the fees associated with the sending and receiving of
funds."
Answer: This has become a VERY important question as getting
money to your offshore book has become a little more difficult every year.
Most books will pick up the fees when you send them a deposit of $300 or
more. Generally you will pick up the fees upon requesting a payout. Every book
will do Western Union and should do Bank Wires. Western Union, obviously is the
quickest method and you can easily request your money back that way – after all,
sending cash is just like getting cash back. However, larger sums of money will
cost more to be sent to you. Also, transfers in excess of $10,000 may get you
flagged from using Western Union. Credit Cards are almost a thing of the
past offshore, as many backs refuse transactions and most books will have to
credit a card back first, before sending any cash payouts. Should your bank
decide to join the ranks in refusing transactions after you make your initial
deposit, it may be difficult to get a payout as the initial deposit can no
longer be credited back to the original card. Money transfer methods such as
NeTeller, SecureBuxx, FirePay and 900Pay have become increasingly popular and
worthwhile. NeTeller has proven to be valuable to the gambler and is widely
accepted. Finally, several books are beginning to do a direct back transfer, if
you have no problem giving you banking information out, this may prove to be the
wave of the future. You may even want to open a bank account strictly for you
wagering. We recommend getting your payout via bank check from the sportsbook.
This will generally arrive within 48 hours and the checks are written on US
banks. They take about five days to clear. There is usually a flat fee of $25 to
$40 - whether you are collecting 50 or 50 thousand, the same check fee
applies.
Question: " How often can you request a payout
and how often do they actually do payouts?"
Answer: The vast majority
of books will let you request a payout seven days a week but most only pay out
on certain days and certain times. It really varies here with most books paying
out by noon Monday through Saturday. Same day payouts are more of a rarity than
the norm, with much of the scams that have been perpetrated on the books over
the years. Generally your money should arrive to you within 48hrs. Payouts via
NeTeller and other online processors can occur quickly. .
Question:
"What are your hours of operation?"
Answer: Ask about both
wagering and customer service. During the NFL season many books will offer 24
hour wagering and should be open at least 10 hours per day for customer service.
Look for a book that is open when you are used to putting your plays
in.
Question: The Bonus.
Answer: Many books will be offering
you the world to sign up or deposit. Be careful about too much of a good thing –
though a 40% bonus looks good, collecting it may be difficult. Which leads to .
. .
Question: "WHAT ARE THE STIPULATIONS FOR GETTING THE BONUS!!!
??"
Answer: Yes in all caps! This is perhaps the most important
question for you to insure that there are no problems when you go to withdrawal
some of your winnings. Every book wants to see action – you will have to roll
your money over (usually plus the bonus) two, three or up to five times before
being able to withdrawal any of your original deposit and bonus money. This
means a $1000 deposit with a 20% bonus ($1200 in your account) will need to show
$3600 in action before being able to withdrawal the original deposit and keep
the bonus. If you do not meet this wagering requirement, expect to have the
bonus rescinded.
Most will also be looking to keep you as a client. Across the board is a
minimum 30-day stay, with regular action, policy. If you try to close your
account before this 30 day rule is met, expect to have the bonus money stay at
the sportsbook. There are several books that also tack on any fees associated
with your deposit in all or some of the above stipulations.
Question:
"What is the minimum deposit and what are the minimum and maximum wagers on
the sides and totals?"
Answer: This will vary all across the board.
Find a book that suits your needs. Keep in mind almost every shop has lower
Internet minimums and maximums that over the phone. The industry standard over
the phone is $300 minimum deposit and $50 wager over the phone, though many
books are going with a $25 wager or less this year.
If you are still
on the phone with them at this point, it gets to be time to ask the more
difficult questions. Here is where customer service and professional clerks come
into play. This will make or break an organization. The good clerks will know
this information without having to put you on hold or get a
supervisor.
Question: "When are your lines posted for next
weekend’s games?"
Answer: If you are a line watcher or an early
bettor this is extremely important. Many books put their lines up late Sunday
night and many are available within hours of the last results on the major
sports.
Question: "What are your teaser and parlay
odds?"
Answer: The industry standards are 10:13 on a two-team,
7-point teaser and 13:5 on two team parlays. There are shops that specialize in
this type of action. If you play a good deal of teasers and/or parlays as part
of your regular wagering strategy, do some extra homework before accepting
standard odds. If the clerk has to put you on hold or seems unsure and you plan
on playing either of these wagers – get a supervisor to clarify before signing
up!
Question: "Are their backup phone numbers and a backup website that I
am able to use?"
Answer: The answer should be Yes and Yes. These
books are all located in countries whose infrastructure is not that of the US.
There are random outages as well as interruptions from natural
occurrences. The Caribbean has hurricane season from August through
November and Costa Rica has twice yearly sun spots! Places that have modern
conveniences like redundant lines and multiple satellites may work to your favor
down the road. Make sure to get a LOCAL phone number, usually the local lines
are land based, where the toll-free numbers are sent via satellite
transmission.
The bottom line is to do your homework, as
there is a good shop out there to fit anyone’s needs. Whether it is a FREE
payout a week, a 30% bonus or reduced teaser juice, the right book can be found
by asking the right questions. Check out our Endorsed and Certified Sportsbooks list
and click on the links for each sportsbook for teaser and parlay odds,
additional phone numbers and website and more! In addition, get feedback from
others you know who play offshore and check with the various watchdog agencies.
I simple email to one of these organizations could save you days of heartache
after you ask for that first payout. Click here to email us here
at the OSGA.. .
We will update this column regularly with more tips
and news as it becomes available! Stay tuned and we will try to keep you in the
loop . . .
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