Bank of Cyprus warning
It is no big secret that I advertise Internet casinos, which have a difficult time paying US banks. So, I had been using the Laiki bank in Cyprus, which I have fully disclosed to the US government. In March, 2013, there was a run on the banks on Cyprus and I ended up losing 82,000 Euros. My other 100,000 Euros was moved to the Bank of Cyprus. I was restricted to withdrawing that 100,000 a little at a time. I still have 15,000 Euros in "old money" in there. Meanwhile, the bank reassured account holders that after the "haircut" that new money was safe and could be withdrawn without restriction or delay. Otherwise, who would put money in?
Reluctantly, and lacking better options, I sent in new money. They had no problem accepting these deposits. However, when I asked to withdraw this new money on April 29 nothing happened for a week. I asked why and they asked me for payroll documents, which was the kind of thing they previously only asked for regarding withdrawing "old money." So I sent them. Then they asked a whole slew of other questions about my business. I answered them all honestly, to no reply, and am still waiting.
It has now been 16 days since my withdrawal. This seems at best unfair that they decide to undertake an account review as soon as I make a large withdrawal. At worst, it seems like the kind of stonewalling that might happen if they were in financial trouble again.
In other news, I spent most of my funds at hand for the update you see on the Odds site. Maybe it is that this is a slow time of year or just bad variance, but revenue actually went down after the site update. So, we're trying some new advertisers for traffic outside of North America.
Meanwhile, my US funds are running dangerously low. If the Bank of Cyprus doesn't make good on my withdrawal soon I will have to seriously consider selling my house and/or my sites. Add to all this that my father died on April 25. I just don't know what I'm going to do.
Extremely selfish personal plea: don't sell your sites!
I know there have previously been suggestions made by others about making some features on WOO available by subscription only. If you did so, you can count on me to sign up. Or, if there are other ways that are suggested to raise funds, count me in.
APQuote: WizardDay 16. It just keeps getting worse and worse for me.
It is no big secret that I advertise Internet casinos, which have a difficult time paying US banks. So, I had been using the Laiki bank in Cyprus, which I have fully disclosed to the US government. In March, 2013, there was a run on the banks on Cyprus and I ended up losing 82,000 Euros. My other 100,000 Euros was moved to the Bank of Cyprus. I was restricted to withdrawing that 100,000 a little at a time. I still have 15,000 Euros in "old money" in there. Meanwhile, the bank reassured account holders that after the "haircut" that new money was safe and could be withdrawn without restriction or delay. Otherwise, who would put money in?
Reluctantly, and lacking better options, I sent in new money. They had no problem accepting these deposits. However, when I asked to withdraw this new money on April 29 nothing happened for a week. I asked why and they asked me for payroll documents, which was the kind of thing they previously only asked for regarding withdrawing "old money." So I sent them. Then they asked a whole slew of other questions about my business. I answered them all honestly, to no reply, and am still waiting.
It has now been 16 days since my withdrawal. This seems at best unfair that they decide to undertake an account review as soon as I make a large withdrawal. At worst, it seems like the kind of stonewalling that might happen if they were in financial trouble again.
In other news, I spent most of my funds at hand for the update you see on the Odds site. Maybe it is that this is a slow time of year or just bad variance, but revenue actually went down after the site update. So, we're trying some new advertisers for traffic outside of North America.
Meanwhile, my US funds are running dangerously low. If the Bank of Cyprus doesn't make good on my withdrawal soon I will have to seriously consider selling my house and/or my sites. Add to all this that my father died on April 25. I just don't know what I'm going to do.
I assume you mean that your Bovada income is down since that is the only advertising on the site. Do you think it has something to do with the placement of the banner? I think it was mentioned in the other thread when the new site went live that it is kind of hidden. When you go to the site the banner is below the important things. If you are going there for a calculator, the link is up top and you never look down any further for the ads. I would change it so the ad is more visible.
Have you tried to have your attorney contact the bank? If you know a stock broker or a financial advisor, they may have some advice to offer.
Quote: WizardDay 16. It just keeps getting worse and worse for me.
It is no big secret that I advertise Internet casinos, which have a difficult time paying US banks. So, I had been using the Laiki bank in Cyprus, which I have fully disclosed to the US government. In March, 2013, there was a run on the banks on Cyprus and I ended up losing 82,000 Euros. My other 100,000 Euros was moved to the Bank of Cyprus. I was restricted to withdrawing that 100,000 a little at a time. I still have 15,000 Euros in "old money" in there. Meanwhile, the bank reassured account holders that after the "haircut" that new money was safe and could be withdrawn without restriction or delay. Otherwise, who would put money in?
Reluctantly, and lacking better options, I sent in new money. They had no problem accepting these deposits. However, when I asked to withdraw this new money on April 29 nothing happened for a week. I asked why and they asked me for payroll documents, which was the kind of thing they previously only asked for regarding withdrawing "old money." So I sent them. Then they asked a whole slew of other questions about my business. I answered them all honestly, to no reply, and am still waiting.
It has now been 16 days since my withdrawal. This seems at best unfair that they decide to undertake an account review as soon as I make a large withdrawal. At worst, it seems like the kind of stonewalling that might happen if they were in financial trouble again.
In other news, I spent most of my funds at hand for the update you see on the Odds site. Maybe it is that this is a slow time of year or just bad variance, but revenue actually went down after the site update. So, we're trying some new advertisers for traffic outside of North America.
Meanwhile, my US funds are running dangerously low. If the Bank of Cyprus doesn't make good on my withdrawal soon I will have to seriously consider selling my house and/or my sites. Add to all this that my father died on April 25. I just don't know what I'm going to do.
Sorry about the troubles you are having. That sucks.
You mention the revenue on WOO. I don't know how much real feedback you have gotten besides people here patting you on the back, but in my opinion the new layout and look are terrible. I have definitely reduced my visits there. The old design was easy to navigate and looked clean. The new version seems cluttered and like a poorly designed wordpress site (not sure if it is using wordpress or not).
I would seriously consider some changes to make it friendlier to the eye. I know someone spent some time on it, so I apologize to them for the criticism.
ZCore13
Quote: Zcore13Sorry about the troubles you are having. That sucks.
You mention the revenue on WOO. I don't know how much real feedback you have gotten besides people here patting you on the back, but in my opinion the new layout and look are terrible. I have definitely reduced my visits there. The old design was easy to navigate and looked clean. The new version seems cluttered and like a poorly designed wordpress site (not sure if it is using wordpress or not).
I would seriously consider some changes to make it friendlier to the eye. I know someone spent some time on it, so I apologize to them for the criticism.
ZCore13
I'm not complimenting the new site just to make anyone feel better, I genuinely like it better. So far I've found what I've been looking for without any problem. I think it looks cleaner, more polished, and all around an improvement.
Quote: AxelWolfHow about a poll asking if people have signed up for Bovada, if not why, and if so why. This may help gather some useful information.
I signed up for bovada last week and listed wizard of odds website when asked how I heard about Bovada
Quote: BeardgoatI signed up for bovada last week and listed wizard of odds website when asked how I heard about Bovada
Thank you! That is ultimately what puts rice on my table and sends my kids to school.
I agree. However It does look more like a regular site and less like an odds site.Quote: MidwestAPI'm not complimenting the new site just to make anyone feel better, I genuinely like it better. So far I've found what I've been looking for without any problem. I think it looks cleaner, more polished, and all around an improvement.
I doubt the site has anything to do with less sign ups and more to do with Bovada's cut in pay-tables and bonuses. They cut the weekly bonuses in half, they cut the full pay Jokers and others, AC is now open for gaming.
If He takes on some other casinos, I have a feeling it will be a good thing for him. I cant wait to hear what other casinos he will be endorsing.
Just clicking on your link and signing up will do correct? No need to add anything to the referred by who section?Quote: WizardThank you! That is ultimately what puts rice on my table and sends my kids to school.
Quote: AxelWolfI agree. However It does look more like a regular site and less like an odds site.
I doubt the site has anything to do with less sign ups and more to do with Bovada's cut in pay-tables and bonuses. They cut the weekly bonuses in half, they cut the full pay Jokers and others, AC is now open for gaming.
If He takes on some other casinos, I have a feeling it will be a good thing for him. I cant wait to hear what other casinos he will be endorsing.
Site design makes a HUGE difference in clicks, time on site, income and much more. There are tons of studies on "hot spots" on sites and where eyes naturally go to, what features make things easy on the eyes, easy for first timers to navigate, enough initial information without causing overload, etc, etc, etc.
ZCore13
Quote: WizardThank you! That is ultimately what puts rice on my table and sends my kids to school.
Wow, I had no idea of the importance of the Bovada link for you. At work now, will definitly click on the link at home and sign up.
Its the least I can do after reading the Cyprus bank story.
Cmon people, it this helps the Wiz, hop on the Bovada bandwagon.
Their whole economy suffered but at least its clear now, bankers can not take depositors money, the bank owners suffer any losses.
Iceland still remains a clannish society with a good bit of "Russian" mob influence but the banks pay promptly on a depositors money.
Cyprus? If you want an escape from rainy weather in the UK its fine. Particularly if you are a female who wants some uncomplicated arrangements for a male companion for a week of fun in the sun, Cyprus is great. Its a known Sex Tourism destination.
However, who in their right mind would bank there?
Anyway, I would completely understand if you were reluctant to put up a donation link, either for reasons of personal/business pride or just because you don't want it to look like you are asking for a handout. But it's something to consider.
On a different note, have you looked for a "straight" job like the one you briefly held with LVS? I know they screwed you over, but it seems that a respected gaming mathematician like yourself might have some prospects in the gambling mecca that is Las Vegas. This is purely curiosity on my part; of course if you'd rather not discuss your personal employment situation that is your prerogative.
Quote: WizardIn other news, I spent most of my funds at hand for the update you see on the Odds site. Maybe it is that this is a slow time of year or just bad variance, but revenue actually went down after the site update. So, we're trying some new advertisers for traffic outside of North America.
Sad as it seems, this doesn't surprise me. As a rule, Internet users don't like change. So when a site goes through a major change, even if it's a better design with new features, often times users just won't visit the site for a while because they don't want to deal with learning the new site. When I worked at a big internet company, we had this problem all the time. Our navigation bar design was ancient and looked horrible, so we invested a lot of time and money in redesigning it. When we A/B tested the new design, it tested very poorly against the old design (with respect to revenue, which was the only metric that mattered at this company). For a smaller project, with those results, the project would have been scrapped. But this project was so huge and the old design was so bad, that they rolled it out anyway, just with a very slow release schedule.
Anyway, I know that probably won't take the sting out of it for you, but sadly it's not uncommon.
Fwiw, I also like the WoO redesign, but I really only go there for the content, so it hasn't effected my rate of visitation at all.
Quote: terapinedWow, I had no idea of the importance of the Bovada link for you. At work now, will definitly click on the link at home and sign up.
Its the least I can do after reading the Cyprus bank story.
Thanks, but what they mainly care about is depositing customers. It also doesn't escape their notice that my players don't lose much. That is the price I pay for teaching people how to gamble properly.
Quote: BuzzardFREE ADVICE is always worth the price. I hardly ever visit that site anymore. Did on a regular basis when you had the ask wizard feature.
I'm going to disagree with this from personal experience and in this particular case. WoV and WoO have been inVALuable to me, and if Mike were charging, I'd gladly pay. That's the miracle of this forum and the Wizard's group of websites; it's worth a ridiculous amount in research, archives, resources, and networking to the right people, and I'm living proof of it. My/our game opened at the Venetian an hour ago. That simply doesn't happen if not for this place.
Quote: AcesAndEightsAnyway, I would completely understand if you were reluctant to put up a donation link, either for reasons of personal/business pride or just because you don't want it to look like you are asking for a handout. But it's something to consider.
Thanks. It isn't out of the question, but I would have a lot of personal pride before I started to beg for donations. Besides, I did once before, when the site was going through a rough time around 2002. The number of people who made a donation? Two.
Quote:On a different note, have you looked for a "straight" job like the one you briefly held with LVS? I know they screwed you over, but it seems that a respected gaming mathematician like yourself might have some prospects in the gambling mecca that is Las Vegas. This is purely curiosity on my part; of course if you'd rather not discuss your personal employment situation that is your prerogative.
That's not out of the question either.
Quote:Sad as it seems, this doesn't surprise me. As a rule, Internet users don't like change. So when a site goes through a major change, even if it's a better design with new features, often times users just won't visit the site for a while because they don't want to deal with learning the new site.
Maybe that is it. Everyone complained how hard it was to find anything on the old site, but I knew where everything was, and I'm still finding my way around the new site.
I remember once PinnacleSports tried a new look. Personally, I hated it compared to their old look, which they still have. They must have had a lot of complaints, because after a few days the old look was back.
Quote: terapinedCmon people, it this helps the Wiz
except they apparently pay him through the Cyprus bank
Quote: FleaStiffwho in their right mind would bank there?
Ouch!
Quote: FleaStiffHowever, who in their right mind would bank there?
You try to find a foreign bank account, as a US citizen, with less than a million dollars and see what few s**t banks will take your money.
Quote: WizardThanks. It isn't out of the question, but I would have a lot of personal pride before I started to beg for donations. Besides, I did once before, when the site was going through a rough time around 2002. The number of people who made a donation? Two.
Well, your audience has increased a lot since then! Not to mention this site (Wizard of Vegas) didn't exist back then. With this forum, a real community has built up, whereas before you basically just had a reference site and accepted email questions.
Before I joined WoV, I probably wouldn't have donated if I saw a link up on WoO while I was looking up a game. But now that I feel like part of the community here, and have benefited from establishing relationships here on your dime, I would think a lot more seriously about pitching in.
Quote: AcesAndEightsSad as it seems, this doesn't surprise me. As a rule, Internet users don't like change.
This isn't even a site design thing as much as a human nature thing. Humans gravitate toward familiarity and are averse to change. Why is McDonalds so successful? Certainly not because of their food, but because they know what to expect from the experience.
Give it some time and I predict you'll get the same level of traffic back on the site. By the way, I also have a Bovada account based almost entirely on Michael's endorsement of the site.
Quote: AcesAndEightsWell, your audience has increased a lot since then! Not to mention this site (Wizard of Vegas) didn't exist back then. With this forum, a real community has built up, whereas before you basically just had a reference site and accepted email questions.
Before I joined WoV, I probably wouldn't have donated if I saw a link up on WoO while I was looking up a game. But now that I feel like part of the community here, and have benefited from establishing relationships on your dime, I would think a lot more seriously about pitching in.
+1
Quote: MidwestAPI also have a Bovada account based almost entirely on Michael's endorsement of the site.
got one when it was Bodog. Just checked and user etc still works. Unfortunately never intended to deposit any money, so this may have been a zero for the WoO pocketbook.
Personally I think he should take a more aggressive advertising campaigns towards Bovada and a few other places.
Are you in Canada? If not I would think you can Make a Bovada Account and then make a deposit. I know someone who made a Bovada account as they thought it would help, but they didn't make a deposit for a long time, they finally deposited then contacted Bovada and asked them to make sure Mike got credit for it. They said yes, but who knows.Quote: odiousgambitgot one when it was Bodog. Just checked and user etc still works. Unfortunately never intended to deposit any money, so this may have been a zero for the WoO pocketbook.
Quote: AxelWolfPersonally I think he should take a more aggressive advertising campaigns towards Bovada and a few other places.
I'm probably going to do that. I am already advertising 32Red for outside North America and some other casinos for New York and Maryland.
Quote: AxelWolfIts not like McDonald's coming back constantly to the site really dose not drive money to the site. He only gets paid ONCE per person who signs up for BV. People who come to the site and linger really do not add $$$ to his pocket. Sure you can conciser other things like the longer they stay the more of a chance they will eventually sign up. I Do agree some of the home page might be to busy.
Personally I think he should take a more aggressive advertising campaigns towards Bovada and a few other places.
I wasn't claiming that coming to the site alone drives revenue, I was simply addressing what I thought others were expressing, that the new design itself is decreasing traffic, and by extension Bovada sign up's. And if that's true, I contend it has more to humans being change averse than to fundamental flaws in the design but will eventually rectify itself as individuals get accustomed to navigating the updated site.
Edit: I take it back. After looking around over there, I see that the Bovada endorsement copy is still there.
gee babe I was talking about my advice that he post the questions more often even if someone else does the answering and Mike just verifies.Quote: beachbumbabsI'm going to disagree with this from personal experience and in this particular case. WoV and WoO have been inVALuable to me, and if Mike were charging, I'd gladly pay. That's the miracle of this forum and the Wizard's group of websites; it's worth a ridiculous amount in research, archives, resources, and networking to the right people, and I'm living proof of it. My/our game opened at the Venetian an hour ago. That simply doesn't happen if not for this place.
Quote: Buzzardgee babe I was talking about my advice that he post the questions more often even if someone else does the answering and Mike just verifies.
Sorry, Buzz, I misunderstood you were referring to YOUR advice. I thought you were referring to the website.
Quote: JimRockfordIn my opinion the testimonial style Bovada ads that were displayed in the side margins on the old site were powerful. I don't know if there is any industry more suspicious than online gambling. There is an air of integrity conveyed on the odds site, so a personal pitch for Bovada from the wiz can be persuasive. I don't see those ads on the new site.
Edit: I take it back. After looking around over there, I see that the Bovada endorsement copy is still there.
Hence the need for A|B testing (and maybe it was already done). It allows you to find out this sort of thing cleanly and easily. Make a change, see if it affects sign ups/click throughs or not. Or if behaviour on the site changes. It's hugely effective, and from what I've read by the subjects, the best way to maximize revenue web sites.
I use bodog.ca. But not to the extent that Mr Wizard will be able to do much more than buy a cheap coffee. Or he already has with my sign up dollars.
Quote: 1arrowheaddrI'm sorry to hear about this Wiz. Hopefully you won't have to physically go to Cyprus to make this right.
I've thought about doing that. Blindsiding them with a personal withdrawal. However, a small part of my balance is "old money" that I can take out only a little at a time.
If you must deal with a Cyprus bank I'd use it as a passthrough account never leaving anything more than a minimum balance in it.
Most Americans do not really want signature authority over a foreign back account because it gives them IRS audits but for you its a business necessity and I'd look into Iceland before Cypruss. Even Argentina with its annual riots and annual re-adjustment of currency values still has banks that always pay out your money on demand with no questions and no delays other than the ones that get imposed on everyone. I've heard Finnish banks are reliable and efficient. I have an Argentian friend and will ask him tonight his views on their banking problems.
I am fairly certain I played 32red years ago. I don't know how far they go back and check. I do know others that will sign up. Anything good? is it similar to BV? Why 32 RED? Will you give the the same endorsements?Quote: WizardI'm probably going to do that. I am already advertising 32Red for outside North America and some other casinos for New York and Maryland.
US players?
Can you post an affiliate link ?
Quote: WizardThanks. It isn't out of the question, but I would have a lot of personal pride before I started to beg for donations.
I understand that. But would you be open to accepting "mini/associate/lite" sponsors of this great website. ? I would do what I could do because I enjoy this site and it is valuable to me from a gambling standpoint as well.
Quote: AxelWolfI am fairly certain I played 32red years ago. I don't know how far they go back and check. I do know others that will sign up. Anything good? is it similar to BV? Why 32 RED? Will you give the the same endorsements?
US players?
Can you post an affiliate link ?
32Red is a very reputable Microgaming site. Bovada uses a modified RTG platform. 32Red does not accept U.S. players.
Quote: WizardIt is no big secret that I advertise Internet casinos, which have a difficult time paying US banks. So, I had been using the Laiki bank in Cyprus, which I have fully disclosed to the US government. In March, 2013, there was a run on the banks on Cyprus and I ended up losing 82,000 Euros.
So, why not advertise Vegas Hotel Casinos and others instead?
Anthony Curtis' Las Vegas Advisor links to every hotel on the Strip, plus shows, airfare and restaurants.
No foreign banks necessary.
Quote: TankoSo, why not advertise Vegas Hotel Casinos and others instead?
Anthony Curtis' Las Vegas Advisor links to every hotel on the Strip, plus shows, airfare and restaurants.
No foreign banks necessary.
I tried that on this site back in the early days.
Total revenue I made? $0.00.
