Sportsbook news results for the search term: betchance
12.17.2009 (12:19 PM CST)
Editor's update: BalkanBet is now operating as EFBet.
BalkanBet (SBR rating C-) has been added to the SBR sportsbook rating guide. BalkanBet's sportsbook has been in operation since June 7th of 2008. US, Maltese, and Macedonian residents are not permitted to open an account with BalkanBet. The sportsbook is located in Malta and licensed by the Loterries and Gaming Authority (LGA) of Malta. Players should be advised that multiple high-risk, slow-pay sportsbooks have emerged from Malta in recent years, such as the now defunct BetOnBet (SBR rating F), BetChance (SBR rating F), and slow pay sportsbook BetAfterBet (SBR rating D-).
06.03.2009 (05:57 PM CST)GoldVictory no-pays continue; LGA of Malta states it is taking legal action
GoldVictory (SBR Rating F) players continue to report no-pay complaints to SBR. The F rated sportsbook currently owes over a reported $100,000 in player funds. The Lotteries and Gaming Authority of Malta (LGA) stated that legal action has been taken against a director of Gold Victory Limited. The criminal proceedings are to take place in the Maltese Law Courts.
[quote] “Please note that one of the Directors of Gold Victory Limited is currently facing criminal proceedings in the Maltese Law Courts. The Lotteries and Gaming Authority feels that any further statements on its part could compromise the current legal proceedings, hence it will not comment pending the resolution of the court case. Once the proceedings are decided the Authority will be in a position to update the public with the developments of the case.” [/quote]
Players should be aware that the involvement of the LGA and legal proceedings may not have any impact on their cases. The LGA was unable to assist when Maltese-licensed BetChance (SBR Rating F) stiff many of their players and BetChance remains in operation.
GoldVictory has ceased taking action on any wagers and displays the following message on their website:
[quote] "We regret to inform you that for the time being all Sportsbook and Casino games have been suspended temporarily. We are working with the Lotteries and Gaming Authority of Malta (LGA) to verify
the precise nature of the situation.
Any updates regarding the situation will be posted here. Our sincerest apologies for the inconvenience caused. "
GV Team[/quote]
Players are discouraged by the above message and see it as confirmation that their funds will not be returned. GoldVictory Players who have not yet done so are encouraged to write SBR to have their voices heard. | Gold Victory discussion
11.12.2008 (10:25 PM CST)Scam sportsbook BetChance (SBR rating F) back in business
It was been three months since BetChance was telling its players that it was insolvent and offering a settlement offer like the one below:
[quote]We have tried to contact you during the week to inform you about the money in your betchance Betting Account. betchance Limited (betchance.com ) is closing and we are giving the following options to clients;
Option 1: To pay 30% of the total amount (betting account plus pending withdrawals) in the next two-three weeks.
Option 2: To pay the total amount you have in your betting account but divided in 15 months payments.
Please
give us your reply as soon as possible, by email, or send us the phone
number where we can contact you, in order to notify us of your decision.
When we’ll receive the option you choose, we will send an agreement by email, which has to be signed by both betchance
and the client, and afterwards the payment will be processed. For any
further information you require, do not hesitate to send us an email on
info@betchance.comor contact us by telephone on 00356 21489941.
Regards, betchance Limited
[/quote]The sportsbook is now advertising new bonuses and offering a full wagering menu. Some players report that
BetChance is still refusing to pay and pushing them to accept a settlement of 25% of their balance. It appears the sportsbook is marketing to Italian speaking players that may not be aware of the theft of bettors in other countries.
09.20.2008 (06:55 AM CST)BettingStar24 (SBR rating D) reopens; players advised to request funds
The sportsbook posted vague messages on its website earlier this week about transferring player accounts and informing users that customer support would not be offered during this time. No time line for a resolution was offered. BettingStar24's website displays a new message stating that negotiations allowed the sportsbook to reopen. It is not uncommon for Malta-licensed sportsbooks to struggle with internal business issues before eventually closing for good. PlayBanks and BetChance each showed signs of stumbling including intermittent payouts, temporarily removing account access, and/or announcing new ownership before eventually closing for good. Players are advised to test BS24's withdrawal process and avoid the book while it handles internal issues.
09.18.2008 (05:49 PM CST)BettingStar24 closes down sportsbook and communication with players
BettingStar24: Dear customers! May we kindly advise you that Bettingstar24.com is transferring its business. We are conducting intensive negotiations with a leading online gaming company to take over your total account balance. We hope for your understanding that this process can take a while. Our support team is no longer reachable per telephone or email but you will be informed about the progress of the negotiations regarding the security of your deposits and winnings via our homepage. We are sorry for all inconvenience caused. Best regards bettingstar24.comBettingStar24 is the second Malta-based sportsbook to close this month.
Waubet (not rated) also closed after claiming to be dealing with server problems. It is unknown if and when Waubet users will be paid. Including former customers of
BetChance (SBR rating F), players from three Malta operations are waiting to hear the fate of their funds.
09.15.2008 (07:42 PM CST)Waubet (not rated) closes after week of stalling users
WauGaming.com:
Dear Wauw user, For a while we’ve known that we’d need more invested capital into our company in order to reach Break Even on our current activities. Unfortunately we haven’t succeeded in raising the necessary investor capital, and thus we’ve decided to close down our business. The total amount due to our customers, meaning also your balance/funds if relevant, are to a large extend secured via the demand by the Maltese Lotteries and Gaming Authority (LGA) for separation of company funds and customer/user funds. Some of these funds are kept as reserves at 3rd parties for up to 9 months though and thus we’re not able to pay everybody’s full balance straight away. We’ll cooperate fully with the LGA in order to try and find a solution securing that everybody will have their funds paid as soon as possible. We’ll give further information on the homepage and by email when relevant. We’re very sorry for the inconveniences brought on you by this, but hope you’ll understand that we’re doing everything possible in order to try and satisfy all involved parties in this difficult situation. Kind regards, Wauw Gaming
The sportsbook has been posting messages about server problems and needing "spare parts" for over a week. A player waiting for funds requested prior to the website coming off-line observed characteristics often associated with high-risk bookmaking:
"I have never had any problems with them earlier. But their limits have always been exceptionally high even for smaller leagues and their odds have been very slow moving even when the market has been moving fast. Signs of danger maybe". Waubet joins fellow Malta-based defunct sportsbook
BetChance (SBR rating F) in telling players that they may or may not receive their funds in nine months.
08.05.2008 (07:47 PM CST)BetChance (SBR rating F) sends a "client contract" to owed players saying they will provide payment within 20 months and asks the player to agree he/she will not sue the gaming company. Players should ask the sportsbook if it intends to steal account balances if this agreement is not signed under duress. The agreement gives the sportsbook reassurance that the player does not intend to pursue the sportsbook and meaninglessly suggests that by signing it, the player has waived the right to pursue funds. BetChance previously offered 30% (now 25%) or payment in full within 15 months. in 2007 players agreed to payment plans which were not honored. SBR will contact Malta Gaming authorities to ask if the latest BetChance payment promise is the result of influence of the regulating body. Malta and its Lotteries and Gaming Authority have not proven to offer added player security to date. Defunct sportsbook
Portlandbet (SBR rating F) is also
confiscating a piece of player balances. |
see BetChance agreement
| Read more 07.02.2008 (08:39 PM CST)BetChance (SBR rating F) deactivates accounts; continues emailing to players with take-it-or-leave-it settlement offer
BetChance is no longer pretending to take bets or allowing players to look at their balance. The book's homepage gives players' the message that the "operation is suspended for technical problems" and it "apologizes for any inconvenient.." The Malta-licensed sportsbook baited players with large deposit bonuses and advantageous lines and pricing. Some players have been pursuing their funds from BetChance for nearly one year. History suggests, despite what BetChance offers or arranges with players, the book will continue to stall and will not pay. Multiple players have stated that their opinion is the book will only pay if somehow leveraged to do so by The Lotteries and Gaming Authority of Malta and will hold out hope for their full balance. The LGA issued small payments to players on behalf of no-pay sportsbook Playbanks in March, months after the book had closed.
BetChance email to players:
We have tried to contact you during the week to inform you about the money in your Betchance Betting Account. Betchance Limited (betchance.com ) is closing and we are giving the following options to clients;
Option 1: To pay 30% of the total amount (betting account plus pending withdrawals) in the next two-three weeks.
Option 2: To pay the total amount you have in your betting account but divided in 15 months payments.
Please give us your reply as soon as possible, by email, or send us the phone number where we can contact you, in order to notify us of your decision.
When we’ll receive the option you choose, we will send an agreement by email, which has to be signed by both Betchance and the client, and afterwards the payment will be processed. For any further information you require, do not hesitate to send us an email on info@betchance.comor contact us by telephone on 00356 21489941.Regards, Betchance Limited
06.23.2008 (06:34 PM CST)BetChance (SBR rating F) player reports that the sportsbook informed him it will finally close
The player states the no-pay sportsbook called to offer him a settlement of 25% of his balance or the possibility of being paid in 20 months. BetChance has been unable to clear delinquent withdrawal requests for almost a year while teasing owed users with email updates about new ownership and small sporadic payments to a fortunate few. Most players do not expect to see any of their funds and now believe the empty promises and positive updates were part of the scam to remain operational in Malta while collecting from new depositors.
05.04.2008 (07:35 PM CST)BetChanger BetChance downgraded from D- to F
05.04.2008 (07:35 PM CST)BetChance downgraded from D- to F
05.01.2008 (08:33 PM CST)BetChance (SBR rating D-) scam continues after scattered payouts
Many players who filed a complaint reported payment at the start of April. BetChance failed to pay players at the close of 2007 and beginning of this year. The sportsbook was upgraded from F to D- in April to reflect the possibility of payment. Players have since wrote to SBR strongly objecting to the sportsbook having a rating above F-. BetChance payouts have not continued while its marketing campaign has. BetChance is telling players they are only able to withdraw the amount they deposited. The result is new players depositing in an effort to win money the book will not pay.
Player to BetChance: I am still waiting on a response to my email from 31st January 2008 (10 weeks ago !!!). Furthermore there are 5 open withdrawals over 5000 Euro in total. Please let me know within 7 days when you will payout this amount. Please regard that sportsbookreview.com has changed your rating from F to D- on 7th April and I think that you won't be pleased if your rating will changed again to F.
04.07.2008 (08:29 PM CST)BetChance (SBR rating D-) pays two more players a total of €6000. The Malta-based
sportsbook has been upgraded to D- due to possibility of payment. Users also report faster line movement keeping the book in line with the market's
betting odds. A player from closed sportsbook,
Playbanks (SBR rating F) which is also located in Malta, reports receiving funds.
Lotteries and Gaming Authority of Malta made the payment on behalf of PB International.
04.07.2008 (08:26 PM CST)BetChance upgraded from F to D-
04.07.2008 (08:26 PM CST)BetChanger BetChance upgraded from F to D-
02.05.2008 (08:39 AM CST)BetChance (SBR rating F) player confirms 2480 EUR paid. This marks the largest payout reported of a total amount just above $4000USD since the book first stopped processing payouts in September. Delinquent withdrawal requests remain over $100,000.
01.28.2008 (06:17 PM CST)Payments recorded from insolvent sportsbooks
BetChance (SBR rating F): Third player reports payment in two weeks. This latest withdrawal was in the amount of 500 Euros. The book owes SBR readers over $100,000 USD.
BetCascade (SBR rating F): Three players reported a total of $2,113 received in 2008. Cascade currently owes $1,270,123 to SBR readers. The book paid 13 SBR readers installments totaling just over $19,000 since withdrawal processing first stopped in April of 2007. Both books are accepting new players and deposits.
01.22.2008 (11:06 PM CST)First BetChance (SBR rating F) payout activity observed in nearly five months
Two players confirmed receiving payouts less than $500 USD. The book sent the following message prior to payment:
Thanks for your collaboration and support during these months. Betchance would like to inform you that your withdrawal has been processed. Also note that all the company's problems have been solved. Within few weeks we will offer new offers and services through our website. You are welcome, to visit betchance.com!
Players should avoid being optimistic until more substantial withdrawals are issued. This message was similar to what the book sent with very small payouts last September. The sportsbook owes over $100,000 to SBR readers alone. These two payments were made via bank wire.
01.02.2008 (04:22 PM CST)BetChance <a class=ab href="http://www.sportsbookreview.com/sbr/betchance">BetChance</a> downgraded from D- to F
01.02.2008 (04:22 PM CST)BetChanger <a class=ab href="http://www.sportsbookreview.com/sbr/betchance">BetChance</a> downgraded from D- to F
12.23.2007 (10:43 AM CST)BetChance (SBR rating D-) no-pay complaints steadily continue. The sportsbook's users have filed complaints since July 2007. Requests for assistance peaked in late September and October during the Malta-based book's marketing campaign. SBR currently has 74 complaints totaling $106,386. Players also report that the book fails to respond to emails and receiving generic responses to inquiries by phone such as "we are working on it" and "we hope to have answers in the coming days." Requests to communicate with management by SBR and players have been declined. Two small withdrawals were last confirmed in late September.
09.28.2007 (06:13 PM CST)Two BetChance (SBR rating D-) players confirm receiving small withdrawals. One player reports the sportsbook has stated that 25,000 Euros was made available for customer withdrawals. Both users have received only three-figure sums credited back to their credit cards. The book owes SBR readers well over $100,000 USD. Some payments were reported in the middle of August yet slow-pay complaints have been pending since July.
09.19.2007 (01:43 PM CST)BetChance sportsbook has sent an email to players apologizing for "delayed payments and non availability of online chat during last few weeks" and states that a deal with new investors is in the works and should be finalized soon. Players hold out hope that the book will be able to regroup although long-time SBR readers realize that when a book admits it is looking to investors it is often too late to recover funds and may be a sign that the book is shifting blame to anonymous principals. Hundreds of BetChance complaints have flooded the SBR mailbox within the past two months. The most recent example of a book failing to obtain new investors is Premierbet (SBR rating D-) which is in no-pay mode and also leaving players fearing the worst. If BetChance is fortunate enough to receive new funding, players would be best served to continue to aggressively pursue their full balance.
09.03.2007 (11:42 PM CST)BetChanger BetChance downgraded from D to D-
09.03.2007 (11:42 PM CST)BetChance BetChance downgraded from D to D-
09.03.2007 (11:00 PM CST)
Pending payout complaints rise from 29 to 49 since last report on August 22nd. Most players continue to complain that the book is not communicating with users and refuses to comment on the new statement found on its
betting rules page that players may only withdraw up to the amount deposited. Two players have reported a payment plan involving small weekly installments of winnings.
08.22.2007 (04:42 PM CST)29 players reported slow-pays by Moneybookers, bank wires and credit cards in the month of August. The company owes an estimated $50,000 USD to these players and currently only offers instructions for how to redeem funds up to the amount deposited. The sportsbook blames technical issues and a large amount of simultaneous payout requests for these delays. BetChance has failed to respond to many of these users by email and phone calls have not been answered. Players are advised to pursue withdrawals as soon as possible from BetChance, which has been downgraded from D+ to D today.
08.22.2007 (10:49 AM CST)BetChance downgraded from D+ to D
08.22.2007 (10:49 AM CST)BetChanger BetChance downgraded from D+ to D
08.08.2007 (10:32 AM CST)BetChanger BetChance - SBR initiates rating coverage at D+
08.08.2007 (10:32 AM CST)BetChance - SBR initiates rating coverage at D+
07.28.2007 (09:17 PM CST)BetChance (not rated) receives poor reviews from SBR readers
BetChance users complain of slow-pays, including Moneybookers withdrawals, taking well beyond the stated five days and delayed ACH payments; voided winning wagers, including bets that were placed two days before the event on lines not considered to be erroneous; and taking two to three days to grade some wagers. Most players tell SBR they were attracted to the Malta-based bookmaker by their opinionated
betting odds. Players should consider heavily opinionated lines from low-volume or new bookmakers a reason to be cautious and a sign that the sportsbook may be gambling.
One of two player reports on voided winning bet: After the Result of a Tallinn win they said they were consulting management to make a decision on what to do with the Bets. They have since Voided the Bets, but have poor reasons. They said incorrect Odds. however odds were High with Bluesq and Coral, both of which have Paid out and honoured the bets. Betchance actually Cut their Odds on the 17th, where I placed further bets. They have only acted because the Bets I placed have won and wont pay me Winnings. Betchance had two days from me placing my Bets til the Event happened, and did not Act before the Game!
One of four bettors to report BetChance slow-pay: Betchance now informed me last Friday that the bank (their bank) had blocked the payment, and asked whether I would agree to a different payment plan.This I did, but it appears Betchance have already broken their latest promise again. They had confirmed they would pay me £1,400 by Moneybookers today (this is the payment I requested on July 13), but it is now end of business and I have received nothing.They have also promised to send me £4,000 (instead of £8,000) by bank transfer today, and that I can withdraw the remainder of my money by Moneybookers in instalments of £1,000 per day.I was asked to agree to this payment plan since I was told they have a lot of withdrawal requests and they would like to spread out the money amongst their customers. I believe my agreement to their request was reasonable, but I still remain highly sceptical about the sincerety of Betchance until I have received my money from Betchance.
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