Mr. Scotty,
Thank you for the kudo's and welcome to the thread. I look forward to your future contributions!
As for the exclusivity issue, Mr. Skinner and WINR have made it clear that exclusivity is paramount to the success of the WINR system. I am not aware of what time frame WINR gives clients, such as TISS or Atlantic interbet, to clear their previous accounts and/or convert them to WINR. One of the many selling points of the WINR system to casinos is, that it takes a huge expense away from the casino (accounting, banking, paperwork, personnel, and office leasing to do all this), and puts the entire onus on WINR in that arena. What sense would it make to use the WINR system and keep all the expenses of the old system as well? I am posting a link to WINR's page for Vendors Benefits. Read this carefully, especially #7. Item #7 would not be possible UNLESS WINR is assured of exclusivity concerning account transactions. Also, notice #9 as this, along with the overall banking structure, is what makes WINR "unique".
winr.net
Also, their are others out there claiming to be competition in both e-commerce and gaming processing, but I see it as an apples and oranges comparison. Remember, while you may initiate and regenerate your WINR/CLT/CMS account with the use of a credit facility such as a credit card, once that deposit enters the WINR/CLT/CMS you are working with a DEBIT situation. In other words, you have an international "bank account with funds on deposit". Every other processing system I have seen so far is strictly based on secure CREDIT transactions. Why is this important? In the gaming arena it is important to the gambler because he knows exactly where his funds are kept and that they are assured. With other transactions, no matter how secure the credit card transaction is, how do you know where the casino puts your money once they get it and what assurance does VISA or MC or any other card give you that you will ever get your money back if you win? Remember there is the case of the woman in California who claims she doesn't owe VISA any of the $17k she lost on line, as it wasn't a legal activity. I wouldn't be surprised if VISA and MC, at some point, end up endorsing the WINR system, or one like it, as it protects them as well. Remember, WINR takes deposits form VISA and MC and pays them a processing fee also. I think VISA and MC would find the WINR system a very attractive situation concerning liability vis'a vis' the California situation and on line gaming, in general.
In the E-commerce arena some of the same arguments apply. First you are working from a secured bank account, not a credit facility. As a foreign merchant would you rather take a credit card backed by an American bank, or a flow through transaction from a "cash in" account? I won't bring up the euro-dollar conversion again as you have all heard it before, and know the WINR advantage. Why would I, as a consumer, prefer to use a foreign debit account; rather than, a continuing domestic credit facility (credit card). One (of many) very important reason is confidentiality. European banking, and in particular the central banking states of Switzerland, Austria, Germany, and Lichtenstien have long been noted for the confidentiality they provide their customers. Europeans take bank account confidentiality very seriously, and are light years ahead of American banks in this arena. Have you ever seen a "Sixty Minutes" piece where a private detective gets on a computer and in 15 minutes has your complete bank accounts, charge accounts, federal ID numbers....etc. I have, and it happens, all the time here. In America, believe it or not, your accounts are basically an open book. This simply won't be the case once your funds enter the WINR/CLT/CMS system. There is so much more but too little time right now. Just remember Credit vs. Debit.....Apples vs. Oranges.....Just ponder why merchants, especially international investment concerns, would prefer secured funds to credit facilities!
Best Wishes,
Swedelo |
