THIS IS MENTAL EVERYONE READ YOU WONT BELIEVE IT

BettingProphets · 09-22-2003, 07:58 PM

09.20.03 (9:35 pm EST) - NEW ROYAL SPORTS RULES, PLEASE READ AND DO NOT ALLOW YOUR ACCOUNTS TO BECOME DORMANT. Our usual source has just told us that Roberto and his henchman, the Dutch accountant, has recently confiscated over $250,000 of customer escrow because the accounts were inactive. They simply took the money out of the accounts then posted a new Royal policy. See the new rule #10 at BetRoyal.com. Here is what is says.........
10.)
If a member’s account remains unused for a period of twelve months, the company reserves the right to close the account and assume ownership of any and all outstanding balance left in the account.

IS THIS LEGAL???!!!! I know it is UNETHICAL but this is NUTS! This basically says they can KEEP YOUR MONEY AS THEY SEEM FIT

ANYONE PLAYING HERE NEEDS THEIR HEAD EXAMINED

The Major · 09-22-2003, 08:01 PM

Completely wrong if they did not give all the account holders a few months notice. 100% wrong and they will have to return the money IMO.

R

Bostongambler · 09-22-2003, 08:06 PM

Seems pretty wrong to me....I don't know if they had some sort of laundering problem or not.... Where someone just stores money there.....

BettingProphets · 09-22-2003, 08:07 PM

what a fu cking toilet

jjgold · 09-22-2003, 08:16 PM

How about 25 years in federal prison if they do this.

Just call the FBI and they will raid them.

Yzerman#19 · 09-22-2003, 08:33 PM

<< Just call the FBI . >>

That seems to be JJ's suggestion for a lot of things...

but in all honesty that's horrible.

TTinCO · 09-22-2003, 09:04 PM

I read that BetPanam has the same 12 month rule. This rule may more be more common than the players realized.

Robbo · 09-22-2003, 09:07 PM

Isn't that a very ethical way of doing business.

The Major · 09-22-2003, 09:08 PM

TT, can you come online msn please?

The Major · 09-22-2003, 09:10 PM

I dont think the problem is the rule. In fact if it is a rule I have no probelm with it. They are not a bank. The probelm I have is not notifying the people but just taking the money.

Now this comes from Stings site so I find it pretty hard to believe. We shall wait and see.

Holy Bull · 09-22-2003, 09:10 PM

I think this proves once again...once you send your post up to a place, they view it as their money.

KidVegas · 09-22-2003, 09:26 PM

This rule is the same as saying we reserve the right to steal your money. Send the person back HIS money if his account is inactive.

Tom0Co · 09-22-2003, 10:29 PM

A rule I would like to see all sportsbooks use is to refund all inactive accounts using a 6-month or one-year time limit.

The customer would be contacted via e-mail and/or phone and the monies forwarded. If the customer could not be contacted via e-mail/phone, an attempt at snail mail should be used. If still unable to contact them, move the funds as unclaimed property and ultimately claim the funds say after another year after no contact. However an effort should be made to return the money to the customer and/or his family.

The exception would be accounts under a specified dollar limit ($100?) whereby the cost of sending the funds would be greater than the account balance.

As for this "rule" if true, I would not knowingly play at any book that has such a rule. Just because you put something in writing as a rule, it doesn't make it right and/or ethical. Books which have such a rule... may just be showing their true colors.

alec · 09-22-2003, 10:41 PM

Just because you put something in writing as a rule, it doesn't make it right and/or ethical. Books which have such a rule... may just be showing their true colors.

I agree with the above totally.

Mr Falcone · 09-22-2003, 10:53 PM

Betpanam has the same rule on thier site.

alysheba88 · 09-22-2003, 10:54 PM

<< I think this proves once again...once you send your post up to a place, they view it as their money. >>

Truer words were never written.

nino brown · 09-22-2003, 11:03 PM

i lost track of an account and mistallied and assumed i had zeroed out the balance. 18 moths later i was checking old accounts and low and behold there was almost 2 dimes. the book was badlands. any book that has that rule is looking for a license to steal. thumbs up for badlands and the guardian books. they are first class.

Mr Falcone · 09-22-2003, 11:06 PM

BetPanAM reserves the right to restrict or decline wagers as circumstances dictate.

All sporting events must be played on date scheduled unless otherwise specified. If an event is postponed and/or rescheduled, that event will automatically constitute "No action" unless otherwise agreed.

*No action means all monies for that event will be refunded.

The winner of event, or game, will be determined on the date of the event's conclusion, according to BetPanAM wager rules.

BetPanAM will not recognize suspended games, protest games, overturned decision, etc., for wagering purposes.

When wagering on total scores, overtime periods are counted in the final score.

When wagering on half-times, overtime periods ARE included as part of the second half.

In all "futures" wagering (example: World Series, Super Bowl, etc.) the winner, as determined by the League Commissioner, will also be declared the winner for betting purposes.

BetPanAM will not accept wagers on events posted with obvious gross line errors. Management also reserves the right to cancel any wager made on an obviously "bad" line or a wager made after an event has started whether due to software or human error.

Should funds be credited to a clients account in error - human error, technical malfunction, payout miscalculation or other - it is the customer's responsibility to notify BetPanAM of the error without delay. Any winnings subsequent to the error, whether related to the error or not, shall be considered invalid and returned to BetPanAM.

If a member's account remains unused for a period of twelve months, the company reserves the right to close the account and assume ownership of any and all outstanding balance left in the account only after exhausting all avenues of reaching the dormant member. This is good reason for keeping all contact information accurate and up to date. In the event of this occurrence member should contact Customer Service Dept and provide proof of identification to be reinstated

According to the Central Government of Panama no one under the age of 18 is permitted to make a wager.

Online wagering: Once you "confirm" a bet using the online method, your decision is considered final.

Phone wagering: Minimum wager $50. All calls will be recorded and recordings are used to settle all wagering disagreements/claims. In case of a dispute, both management and the customer agree that the tape recording of the transaction will serve as the final basis for resolution of the disagreement and all wagers will be adjusted accordingly.

All rules, regulations and payoffs contained herein are subject to changes and revisions by BetPanAM without prior written notice.

Minimum and maximum wagers on all sporting events will be determined by BetPanAM. Included in this site are recent sport limits, but these limits are subject to change and may not reflect what is currently posted here. Also, limits may be adjusted on an individual account basis as well. See the limits section for details.

BetPanAM relies entirely upon the information provided by the customer in the application in order to establish a wagering account. BetPanAM is not, therefore, responsible for any form of misrepresentation by the customer.

If placing a bet by phone, it is the responsibility of the customer to listen carefully to the Ticketwriter's readback of his plays. The customer must then confirm his plays by repeating his account number to have action. If for some reason the call is dropped before this process is complete, the wagers will be voided. Please, call back to confirm your wager(s).

Your wagers are graded ONLY after the contest is final.

BetPanAM must place an effective ceiling on the win amount of any and all wagers. No member of BetPanAM may receive or win an amount in excess of USD $100,000. per day, per event or combined in a parlay payout.

Mr Falcone · 09-22-2003, 11:09 PM

THEY HAVE CHANGED IT TODAY..............GOOD JOB

BetPanAm THE HOUSE RULES

BetPanAM reserves the right to restrict or decline wagers as circumstances dictate.

All sporting events must be played on date scheduled unless otherwise specified. If an event is postponed and/or rescheduled, that event will automatically constitute "No action" unless otherwise agreed.

*No action means all monies for that event will be refunded.

The winner of event, or game, will be determined on the date of the event's conclusion, according to BetPanAM wager rules.

BetPanAM will not recognize suspended games, protest games, overturned decision, etc., for wagering purposes.

When wagering on total scores, overtime periods are counted in the final score.

When wagering on half-times, overtime periods ARE included as part of the second half.

In all "futures" wagering (example: World Series, Super Bowl, etc.) the winner, as determined by the League Commissioner, will also be declared the winner for betting purposes.

BetPanAM will not accept wagers on events posted with obvious gross line errors. Management also reserves the right to cancel any wager made on an obviously "bad" line or a wager made after an event has started whether due to software or human error.

Should funds be credited to a clients account in error - human error, technical malfunction, payout miscalculation or other - it is the customer's responsibility to notify BetPanAM of the error without delay. Any winnings subsequent to the error, whether related to the error or not, shall be considered invalid and returned to BetPanAM.

If a member’s account remains unused for a period of twelve months, the company reserves the right to close the account and assume ownership of any and all outstanding balance left in the account.

According to the Central Government of Panama no one under the age of 18 is permitted to make a wager.

Online wagering: Once you "confirm" a bet using the online method, your decision is considered final.

Phone wagering: Minimum wager $50. All calls will be recorded and recordings are used to settle all wagering disagreements/claims. In case of a dispute, both management and the customer agree that the tape recording of the transaction will serve as the final basis for resolution of the disagreement and all wagers will be adjusted accordingly.

All rules, regulations and payoffs contained herein are subject to changes and revisions by BetPanAM without prior written notice.

Minimum and maximum wagers on all sporting events will be determined by BetPanAM. Included in this site are recent sport limits, but these limits are subject to change and may not reflect what is currently posted here. Also, limits may be adjusted on an individual account basis as well. See the limits section for details.

BetPanAM relies entirely upon the information provided by the customer in the application in order to establish a wagering account. BetPanAM is not, therefore, responsible for any form of misrepresentation by the customer.

If placing a bet by phone, it is the responsibility of the customer to listen carefully to the Ticketwriter's readback of his plays. The customer must then confirm his plays by repeating his account number to have action. If for some reason the call is dropped before this process is complete, the wagers will be voided. Please, call back to confirm your wager(s).

Your wagers are graded ONLY after the contest is final.

BetPanAM must place an effective ceiling on the win amount of any and all wagers. No member of BetPanAM may receive or win an amount in excess of USD $100,000. per day, per event or combined in a parlay payout.