Bet1128 (SBR rating D+) player complains the sportsbook confiscated his balance of over $37,000 Euros the week of August 24, 2008.
He was one of five complaining players that won over $100,000 Euros combined betting on Olympic boxing round-robin parlays. Bet1128
closed all the player accounts and seized all balances including deposits, claiming they were a betting syndicate. Bet1128 does not claim the players exceeded the maximum stake per bet with multiple accounts, bet from the same location or at the same time, or exceeded the one-day maximum win amount of $150,000 Euros. Their sole explanation was:"Our customer XXXXX YYYYY has been linked to a group of punter. It’s our right to protect ourselves against this kind of strategy, which is unfair and deemed as cheating by our terms and conditions. We are able to prove the link of these players and ready to show to the relevant body. We are looking forward to receive official request from all the person involved in the affair, in order to clarify our position as soon as possible."
Bet1128 failed to provide valid reasons for their actions. The sportsbook states that an IBAS investigation is pending. Bet1128's rules do not prohibit players from sharing wagering information. The player admits to knowing the other sports bettors and states he did not initiate or take part in an investigation with third party, IBAS.