The Greek Sportsbook Has Closed

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  • SBR Forum
    Administrator
    • 12-02-06
    • 4559

    #1
    The Greek Sportsbook Has Closed
    The Greek Sportsbook has closed. The company had been in business since 1998 and was considered by many to be one of the original pillars of the sports betting industry. Player balances are being migrated to another A+ rated sportsbook in Betcris. There will be no rollover requirements attached to balances. Pending bets will be settled within The Greek software as normal and winnings transferred to Betcris. Players with feedback or who have any questions about the account migration process detailed below are encouraged to write to SBR.

    The Greek's letter to players:

    "TheGreek.com is closing its bookmaking operations. However, we have arranged for your account to be transferred to BetCRIS. BetCRIS is one of the pioneers in the sports betting industry and offers great value to both recreational and experienced sports bettors. They offer a wide variety of prematch betting options and live betting on televised sporting events with bets being graded in real time. Their loyalty program is the best in the industry giving you better odds and higher payouts on all your wagers as you progress through the levels. We are confident you will be satisfied with their service.

    The transfer of your account has been designed to be quick and easy. Follow the link below to enter your username and password for TheGreek.com to automatically transfer your current balance to your new account and start betting right away. We thank you for your patronage, and are confident you will be in good hands at BetCRIS. All fund transfers are being guaranteed by The Greek, so you can be assured that you can continue to "Sweat the Game, and not the Payout."

    Q: Why was BetCRIS chosen to transfer my account to?

    A: BetCRIS is one of the pioneers in the sports betting industry, operating both an online betting service and land based shops in over one hundred locations. They are rock solid financially and through their loyalty program you can get some of the best odds in the industry.

    Q: Will I have a roll over requirement on my balance that you have transferred?

    A: Absolutely not.Q: What if I already have an account at BetCRIS?A: You can transfer your balance to your existing account.

    Q: What if I do not want an account at BetCRIS? What if I want all my money now?

    A: You will promptly receive your withdrawal request from BetCRIS. This is personally guaranteed by The Greek."
    Last edited by SBR Forum; 05-01-19, 04:08 PM. Reason: added note regarding pending bets
  • LAbra2k
    SBR High Roller
    • 03-12-19
    • 144

    #2
    Surprising move...i thought thegreek business runs very well as they exist long time.

    now customers are forced to pay 3,5% for the withdrawal, that is not nice...you have to inform your customers at least 1 week before you are closing your site!
    Comment
    • Stallion
      SBR MVP
      • 03-21-10
      • 3617

      #3
      Wow, never thought I would see this.
      Comment
      • Foxx
        SBR Hall of Famer
        • 05-25-11
        • 5825

        #4
        Damn. I was funded there earlier this year. Zeroed out though.

        RIP. It was a fine book in its day.
        Comment
        • ronald
          SBR MVP
          • 10-31-05
          • 4918

          #5
          Originally posted by LAbra2k
          Surprising move...i thought thegreek business runs very well as they exist long time.

          now customers are forced to pay 3,5% for the withdrawal, that is not nice...you have to inform your customers at least 1 week before you are closing your site!
          But free via Bitcoin, right?
          Comment
          • Alfa1234
            SBR MVP
            • 12-19-15
            • 2722

            #6
            Transfer worked fine, just worried about my outstanding bets.
            Comment
            • SBR Forum
              Administrator
              • 12-02-06
              • 4559

              #7
              To confirm - pending bets will be settled within The Greek software as normal and winnings transferred to Betcris.
              Comment
              • Regul8er
                SBR Posting Legend
                • 11-06-07
                • 10666

                #8
                I think this might be the beginning for alot of books, with sports gambling being legalized across many states.
                Comment
                • SBR Forum
                  Administrator
                  • 12-02-06
                  • 4559

                  #9
                  Originally posted by Regul8er
                  I think this might be the beginning for alot of books, with sports gambling being legalized across many states.
                  The Greek hadn't serviced US players since 2011.
                  Comment
                  • chalkman777
                    SBR Hustler
                    • 09-01-15
                    • 96

                    #10
                    is this the first domino to fall offshore? with all the legalized sportsbetting going on in the us who needs them . eventually its all staying in the usa .
                    Comment
                    • Mrtop7
                      SBR Sharp
                      • 08-08-16
                      • 435

                      #11
                      greek twitter :

                      Some Sad News To Pass AlongSome of you may have already heard that we are ceasing bookmaking operations as of today. We are in the process of restructuring with new plans ahead.
                      Comment
                      • jjgold
                        SBR Aristocracy
                        • 07-20-05
                        • 388189

                        #12
                        sad news???


                        New Gen books put them out of business

                        They never adapted to new technology and booking
                        Comment
                        • vk.sab
                          SBR Rookie
                          • 10-15-18
                          • 21

                          #13
                          Sorry my mistake... Account was transferred. Thanks for all betting in past.
                          Last edited by vk.sab; 05-01-19, 05:35 PM.
                          Comment
                          • Chris@thegreek
                            SBR Rookie
                            • 06-27-09
                            • 19

                            #14
                            That is totally untrue
                            Comment
                            • littlekona
                              SBR Hall of Famer
                              • 11-19-15
                              • 5241

                              #15
                              my first book the greek when they took USA back in the day along with betjamica...Both A++++++ I also remember another book I used and liked very much VIP sports that gone too...I think I saw a pop up add on the old dr bizzaro porn site that got me intrduced to Greek!!
                              Comment
                              • vk.sab
                                SBR Rookie
                                • 10-15-18
                                • 21

                                #16
                                Originally posted by Chris@thegreek
                                That is totally untrue
                                Sorry my mistake, account was transferred. Only thing that was confusing is that I was not able to change password before first login in BetCris... anyway I wonder what happens with Pending bets, because they were not transferred ?
                                Comment
                                • vk.sab
                                  SBR Rookie
                                  • 10-15-18
                                  • 21

                                  #17
                                  My account was transferred, but betcris seems to be same as bookmaker.eu so there is no point for me to bet there... as I already have bookmaker.eu account.

                                  I wonder why thegreek has gone bankrupt ? But they transferred all balance .. so it does not seem like they went bankrupt at all. Their lines were really sharp... if that is the future for all sharp books, then we are f*cked, because where are we going to bet without limits then?
                                  Comment
                                  • acquavallo
                                    SBR Sharp
                                    • 03-16-18
                                    • 350

                                    #18
                                    I'm hoping legal books will see some value and acquire some offshores, if nothing else for their customer lists. 5dimes ,and maybe Bovada, for the alternate lines would be nice stateside.
                                    Comment
                                    • Ian
                                      SBR Hall of Famer
                                      • 11-09-09
                                      • 6019

                                      #19
                                      RIP. One of the best books back in the day.
                                      Comment
                                      • Yulia74
                                        SBR MVP
                                        • 08-28-18
                                        • 1907

                                        #20
                                        sad, thegreek (olympic) was great when spiro was in charge
                                        Comment
                                        • xKMACKx
                                          SBR MVP
                                          • 11-16-08
                                          • 1274

                                          #21
                                          Originally posted by chalkman777
                                          is this the first domino to fall offshore? with all the legalized sportsbetting going on in the us who needs them . eventually its all staying in the usa .
                                          The Greek hasnt been active in the US in nearly a decade. That said, a lot of books won't be able to survive without Americans years down the road probably. Bet365, William Hill, Pinnacle etc.. are the exception, though.
                                          Last edited by xKMACKx; 05-01-19, 08:01 PM.
                                          Comment
                                          • Foxx
                                            SBR Hall of Famer
                                            • 05-25-11
                                            • 5825

                                            #22
                                            The track closed over 10 years ago, but back when, TheGreek used to take action on Blue Ribbons Downs from Oklahoma. The track would have like $900 in the win pool, $500 in the place pool, and $300 in the show pool but TheGreek was allowing you to bet $100 wps. I cleaned up betting the max for a number of seasons and they never even batted an eyelash. Great book even with the high vig. Rip
                                            Comment
                                            • mrpapageorgio
                                              SBR MVP
                                              • 09-07-17
                                              • 2974

                                              #23
                                              Since they said they're trying to restructure, wondering if they're going to revamp and make a leap into the legal US business since they exited the US market to avoid getting in possible trouble servicing US customers now.
                                              Comment
                                              • mtneer1212
                                                SBR MVP
                                                • 06-22-08
                                                • 4993

                                                #24
                                                The Greek and BetJamaica were my two favorite books back in the day..... sad to see them gone.
                                                Comment
                                                • Marigold HD
                                                  SBR Hall of Famer
                                                  • 09-03-07
                                                  • 5053

                                                  #25
                                                  What happened to Spiro???
                                                  Comment
                                                  • jjgold
                                                    SBR Aristocracy
                                                    • 07-20-05
                                                    • 388189

                                                    #26
                                                    dead book for years and years

                                                    Places like 5 Dimes, Betonline , Heritage blasted them out of the water

                                                    Not taking USA players though killed them
                                                    Comment
                                                    • RobertAnthonyT7
                                                      SBR High Roller
                                                      • 03-27-18
                                                      • 167

                                                      #27
                                                      For the posters who think sports gambling being legal in the US is going to knock out major books, I strongly disagree. As long as they could utilize bitcoin properly and payout on the same day, there is essentially very minimal difference. The major (very few) books will survive and offer better bonuses and lines to entice us.

                                                      Not to mention, there are currently only 7 states with legalized gambling. It's not happening in NY anytime soon. I live in NY, driving to NJ is a pain in the ass
                                                      Comment
                                                      • Daddy89
                                                        SBR Hustler
                                                        • 05-09-18
                                                        • 84

                                                        #28
                                                        RIP the greek
                                                        Comment
                                                        • Yulia74
                                                          SBR MVP
                                                          • 08-28-18
                                                          • 1907

                                                          #29
                                                          Originally posted by Marigold HD
                                                          What happened to Spiro???

                                                          Last edited by Yulia74; 05-02-19, 03:26 PM.
                                                          Comment
                                                          • TheMoneyShot
                                                            BARRELED IN @ SBR!
                                                            • 02-14-07
                                                            • 28672

                                                            #30
                                                            TheGreek was one of the first books I used in 1999. Sad to see them go.
                                                            Comment
                                                            • Reload
                                                              SBR Posting Legend
                                                              • 03-23-08
                                                              • 12244

                                                              #31
                                                              Big news for sure. Was my second offshore account ever.

                                                              Wonder what the "process of restructuring" means and how they will end up?
                                                              Comment
                                                              • ronald
                                                                SBR MVP
                                                                • 10-31-05
                                                                • 4918

                                                                #32
                                                                Pending wagers placed two days ago at Greek have been graded and funds transferred automatically into CRIS account, just FYI.
                                                                Comment
                                                                • Ruifgalmeida
                                                                  SBR MVP
                                                                  • 04-23-08
                                                                  • 2024

                                                                  #33
                                                                  Rip Thegreek, they where one of the biggest honest books in the business, A+++++++ CS
                                                                  Comment
                                                                  • hawkeye 16
                                                                    SBR MVP
                                                                    • 09-07-17
                                                                    • 3553

                                                                    #34
                                                                    So sad. I miss the old days of betting with the Greek. Good to know no one got stiffed. RIP.
                                                                    Comment
                                                                    • TheMoneyShot
                                                                      BARRELED IN @ SBR!
                                                                      • 02-14-07
                                                                      • 28672

                                                                      #35
                                                                      Originally posted by jjgold
                                                                      dead book for years and years

                                                                      Places like 5 Dimes, Betonline , Heritage blasted them out of the water

                                                                      Not taking USA players though killed them
                                                                      This is the main reason I believe. They were very consistent and one of the best. Don't understand why they turned USA clients away?
                                                                      Comment
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