Just got this from a tout I used to do business with and thought I would pass it on:
Everyone acts like they're all out of business, but in fact, much of the online gaming world continues to thrive quietly, without the publicity and advertising storm of a few years ago, the same can't be said for the industry's premier publicity hounds.
Calvin Ayre's penchant for thumbing his nose at the US Government has, as most expected, come back to haunt online gaming leader Bodog. Forbes reports tonight that the heat is on Bodog, with $24 million confiscated from accounts kept by the company and their payment processors. Further action would be no surprise.
Bodog founder Ayre supposedly left the company this summer, though there's a surprising lack of information in his Wikipedia entry on the controversy that has surrounded the mercurial gaming entrepreneur. You get the sense that Wikipedia Sanitizer was a full time position in Vancouver.
If I had money in there, it would be out ASAP, and that would be my suggested course of action for anyone who would miss the cash they have in there. I don't know anything else, I think this is a clear case of "get out ASAP".
An article was recently released on Forbes.com that creates several misimpression's that the Morris Mohawk Gaming Group feels compelled to clarify for our customers.
As most of our customers already know, all operators outsource payment processing functions to third parties and these payment processors are subject to regulatory constraints wherever they operate, and, occasionally in the US, are subject to legal action because of the uncertain legal environment there.
However, the seizure of funds from these US payment processors was mischaracterized in this article, which refers to two specific legal cases against US processors. Rightly or wrongly, the article does not make a clear distinction between these cases, which, as a result, paints a misleading picture.
The facts are these: the first of these cases – relating to a seizure of funds from a processor known as JBL Services – happened some time ago and has absolutely nothing to do with the current payment processing challenges being experienced in the US. The constraints being experienced by payment processors in the US are universal in that region and not specific to any particular processor or site. Also, note that not one single player failed to get paid when this processor was disrupted.
The second case refers to a payment processor known as Zippayments.com and seizure of funds from this processor’s bank accounts in Nevada. The article falsely implies – but notably does not go so far as to state - that $9.9M seized from Zippayment’s Nevada bank accounts were funds on account for “Bodog”. This is simply false.
Processing partners with whom the Morris Mohawk Gaming Group does business are sophisticated organizations that are perfectly clear as to the actual facts of these cases and their contexts. They are unfazed by such media hype and Morris Mohawk wishes to ensure that its customers are similarly informed. Customer deposits are safe and every player has and will always be paid.
I also read on another site that they are very slow at processing withdrawals. Someone mentioned that they were told there withdrawal would take 20 days and at the end of the 20 days they were told that it could take up to an additional 20 days. Not the kind of people I would trust with my money.
I have had quick processing and slow processing but either way I still got my cash. Bodog is an A rated book for a reason. I would keep an eye out on this situation though. I do have a few G's tied up in there. After baseball I may withdrawl every dime as I use them primarily for inning plays(lower juice in some cases). Good Luck guys.
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