..

Skybook is Like the Pakistan of Online Sports Betting

Written by:
C Costigan
Published on:
Jan/14/2010

Anybody who has followed the online sports betting company Skybook.com over the years knows about this organization's colorful history.  The best analogy we at Gambling911.com can make is to that of Pakistan.  Skybook is centrally run but at times dysfunctional, a result of years worth of heavy reliance on the credit side and use of agents, some of whom have maintained substantial interest in the company.

Like Pakistan, Skybook operates on the brink of instability.  This has led to complaints in of slow pay in recent months, one of which has since been resolved.

The company began operations in Venezuela during the late 1990's as part of the Margarita Island band of sportsbooks which once included the behemoth Sportsbook.com (now based in Costa Rica).  Skybook was a credit operation run by a group of partners who would eventually disband.  It was sold for over a million dollars (and some would argue "a million dollars too much") to the Rio Group of offshore sportsbooks in 2000.  Under the Rio International banner, Skybook enjoyed several years of stability (though still heavily relying on credit).  One of its original founders went on to stiff countless numbers of sports bettors through a new entity he started the following year.

Skybook would later be purchased by the same folks who run TheRx.com, an online sports betting portal and picks site.

One customer had this to say to Gambling911.com:

"I knew this book was in deep. A few years ago I did a book transfer in for 15k and then won 22k leaving a balance of 37k. When I asked to transfer the money to another book they told me they could only do $2500 a week. In other words, Sky will take in as much money in as possible but delay the payout and hope you lose some back. Terrible book-- I can't believe it has taken this long to expose them."

The company still relies on credit and some individuals with ties to Skybook.com are known gambling degenerates, thus exposing the group to series financial disarray at times. 

Still, a few of the key employees have remained over the years.

Their reputation remains marred and the other operators we speak to in Costa Rica have few good things to say about Skybook these days.

Nonetheless, they've managed to hang in there for more than 10 years.  That has to account for something we suppose.

Christopher Costigan, Gambling911.com Publisher

Gambling News

2022 MLB Season to Start on Time Despite Lockout Possibilities Say Oddsmakers

2022 MLB Season to Start on Time Despite Lockout Possibilities Say Oddsmakers

MLB entered a lockout this week and BetOnline has activated a prop as to whether or not the 2022 season will start on time.

2021 Conference Championship Betting Action Revealed

2021 Conference Championship Betting Action Revealed

No team is seeing more heavy action than San Diego -6 (70%).

Las Vegas Sands Files Suit in Latest Development Involving Florida Gambling Expansion Saga

Las Vegas Sands Files Suit in Latest Development Involving Florida Gambling Expansion Saga

The Las Vegas Sands has filed suit against a lobbying group representing the Seminoles in Florida.  The suit, filed in Leon County on Wednesday, claims a “tortious interference with business relationships.”

Tonight's Betting Action Report - Friday December 3, 2021

Tonight's Betting Action Report - Friday December 3, 2021

Western Kentucky at UTSA (+3.5, 73) 72.1% of $ on WKU -3.5

Sports Betting Ads: Industry Weighs How Much is Too Much?

Sports Betting Ads: Industry Weighs How Much is Too Much?

If you’ve turned on a television in the last three years, chances are you’ve been inundated with advertisements for sports betting, and not only during game broadcasts.

Syndicate