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TOW
Founder

Date Joined Mar 2005
Total Posts : 1767

Posted 9/4/2005 7:57 PM (GMT -5)

On July 20, 2004, The Offshore Wire introduced the Fund's Safety Program. The program was conceived and structured with attention to the safety of players' funds in the unlikely event of the failure of a participating sportsbook. The Fund Safety Program compliments player programs offered by other sportsbook watchdogs and associations.

How the Funds Safety Program Works
Sportbooks subscribe with The Offshore Wire to participate in the Funds Safety Program. Subscription fees are then held in a TOW escrow account on behalf of players should a participating sportsbook become insolvent. Sportbooks participating in the Funds Safety Program do receive enhanced visibility at The Offshore Wire, however The Offshore Wire does not accept referral programs of any kind or format nor accepts any commission deriving from players' losses.

In the event of a failure by a participating sportsbook, The Offshore Wire distributes funds to players based on the following criteria:

Funds will be distributed within 72 hours after verified state of insolvency of affected operation.
The maximum amount covered by the program is $2,500 per verified account.
The Offshore Wire will assist FREE of charge players requiring collection or bailout assistance through TOW in case of failure of a sportsbook with an ongoing and non expired service agreement.
Funds will be distributed on first come / first serve basis.

Participating Sportsbooks: TOW endorsed Sportsbooks and TOW Forum sponsors

Exclusive Offer: When joining a TOW endorsed sports book players are automatically enrolled in TOW Prioritized Customer Care Program which includes FREE 24/7 guaranteed dispute assistance, FREE access to promos exclusive to TOW readers, FREE access to TOW Funds Safety Program

Redemption Procedure: Sign up with The Offshore Wire endorsed Sportsbooks and TOW Forum sponsors and mention TOW or The Offshore Wire as referral. Send an email confirmation of your sign up to [email protected].

drunkguy
Registered Member

Date Joined Mar 2005
Total Posts : 944

Posted 9/5/2005 12:52 PM (GMT -5)

I like seeing player protection programs, big plus. All forums should offer them

you say it will be distributed first come, first served. How much money is avaible to be distributed for each book?

If I am the 3rd one to request, and the first 2 players have received the maximum $2500, will there be any left for me? What if I am the 10th? 20th?

TOW
Founder

Date Joined Mar 2005
Total Posts : 1767

Posted 9/5/2005 1:02 PM (GMT -5)

DG,

This program is set to distribute advertisement revenues received by the insured book.

In the unlikely event a book goes bust while being an active advertiser with TOW or TOW Forum the moneys they had paid will be distributed to players on pro quota basis.

I am currently working on a "pot" project, to which all advertisers should equally contribute. When in place this "pot" (the goal is to set aside $100,000) will be the second step of this program. This amount will be assigned to the first 40 claims up to $2,500. ideally, upon each advertisement contract renewal, an additional amount will be added to the pot.

At this time the program is limited to the fees paid. With all new renewals the $2,500 contribution to the "pot" will be added.

drunkguy
Registered Member

Date Joined Mar 2005
Total Posts : 944

Posted 9/5/2005 1:20 PM (GMT -5)

good luck, sounds like a positive

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