Casino Talks

Posted by: The Original Mary at July 12, 2001, 7:47 pm

Topic: OPA Complaint #956 Galaxy World Casino Forum: Winner Online

The story emerging so far is really, really strange.

OK, bear with me here.

First, let's talk about Galaxiworld. In the world of online gambling, the public has a short memory. Galaxiworld was a publically traded company run by Jack Banks and Larry Weltman. Jack and Larry borrowed a lot of money, $32 million by telling the bank that their company, GLC, had a license to sell gambling supplies in Washington State.

Except it didn't. They also issued more stock certificates than they had shares, and somebody used those for collateral to defraud another bank.

Anyhow, last October they appeared in court in New York and got the slap on the wrist of being banned from entering the US for two years. The securities case about the stock will be in August. A group nobody has ever heard of took Galxiworld private for much less thant he shareholders paid for it, and Esther Banks, Jack's daughter runs the promotional side of it. She also has an advertising agency in Toronto.

For these reasons, Galaxiworld has always been on the OPA's "Not Recommended" list. Now, there are players who have never had a problem with Galaxiworld, but you know me, I'm a fusspot with an agenda.

Enter Gcash, which is a cash handler for Galaxiworld and sister sites. Coincidentally, it's on the same server as Esther's ad agency site.

Gcash ran a promotion--for days--of every deposit over $500 getting a bonus of 25%. And it was good to cash out after playing through once. And when players cashed out and then bought in again, they got another 25%. This went on for several days. The software automatically added the 25%.

Stunned and disbelieving players called customer support over the phone and by live chat to ask if this was the way it was supposed to work and was it ok. The CSR's said, sure, go ahead, have fun, thanks for playing. Well, some players just went through it once, figuring it was a screwup and a 25% on one time through bonus was good enough. Others decided to see how far this could go. You do the math.

The players kept notes and transcripts. It's too bad that nobody ideotaped all this for the hit t show, "Stupid Casino Tricks", but maybe next time.

As you can imagine, there is an audit going on. Boy, howdy.

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