Sportsbook news results for the search term: betonbet
GR88 (SBR rating D+) has been added to the sportsbook ratings guide.
GR88 is part of the Merge Gaming poker network. GR88's sportsbook application is powered by OddsMatrix. OddsMatrix is a white-label host that also supports TowerGaming, BoogieBet, BetCave, Bulldog777 and others. OddsMatrix was first covered by SBR in July of 2009; BetOnBet, which used OM's software, was a slow-pay sportsbook that went off-line without paying players. Oddsmatrix's COO stated that they were never in control of BetOnBet player funds. The Linx Media Group—who also went off-line—was reportedly responsible for BetOnBet's payment processing.
GR88's website displays a Kahnawake Gaming Commission emblem; deceptive as it is the Merge Gaming network which holds the license, not the GR88 gaming company. GR88 itself claims to be operated by Olympian Trading Limited, a company incorporated in Curacao.
SBR will speak with OddsMatrix management to confirm the extent of the business relationship with GR88.
A MyBet (SBR rating D+) player writes to SBR with an account complaint. The player registered to MyBet and made a first-time deposit of €80 before increasing his account to €368.71. The player tells SBR that MyBet refunded his deposit and closed his account after accusing the player of being connected to other account-holders. The player denies the charge.
MyBet is a Malta-based sportsbook. Malta sportsbooks have recently come under fire, as dodgy sportsbook
owners gravitate to the country for their lax gaming restrictions. Recent Malta scam sportsbooks include Stryyke (SBR rating F), BetOnBet (SBR rating F), and BetAfterBet (SBR rating F). MyBet is one of the only Malta sportsbooks not on SBR's scam sportsbooks blacklist. MyBet had a rating of D+ initiated by Sportsbook Review on April 7th, 2011.
SBR will update this report.
Sportsbook players with feedback or complaints are asked to submit a sportsbook complaint form, or dial 1-830-255-4677 during normal business hours to speak with a Sportsbook Review dispute analyst.
ComeOn (unrated) sportsbook players report bonus complaints.
ComeOn is a Malta-based sportsbook which caters to the European market. Scam sportsbook operators often choose Malta base their operations due to
the country's lax online gaming regulation. Previous scam sportsbook companies Stryyke (SBR rating F), BetOnBet (SBR rating F), BetAfterBet (SBR rating F) were based in Malta. | ComeOn sportsbook bonus complaints
| Read more
TowerGaming (SBR rating D+) has been added to the sportsbook ratings guide.
TowerGaming is a licensee on the OddsMatrix platform. OddsMatrix fully supports TowerGaming; powering their software and holding player funds in reserve. The COO of OddsMatrix confirmed the business relationship in a letter to SBR.
Jesper Jensen, OddsMatrix COO: [quote]Our relationship to TowerGaming is very good and they have competent people to run the business. [/quote]
How the white-label platform controls player funds:
Jesper Jensen, OddsMatrix COO: [quote]As players are betting with OddsMatrix, we are in control of player funds residing in the sports book. If any of our licensees fails/dies, we are responsible to payout these players. This can only be done if the funds reside physically in the sports book balance. If funds are moved away, e.g. to main balance, poker- or casino balance, it is out of our control. As stated above, players are paid by OddsMatrix, but only if the licensee of OddsMatrix goes bankrupt. We are not doing day-to-day payment processing.[/quote]
The last Malta-based sportsbook to use the OddsMatrix platform was BetOnBet (SBR rating F). OddsMatrix claimed at the time that only software was provided to BetOnBet. BetOnBet's processing was reportedly done by the Linx Media Group. Both BetOnBet and the Linx Media Group have since went bankrupt. | Read full TowerGaming, OddsMatrix report
| Read more
BetOnBet (SBR rating F) remains off-line with player funds. The Malta based sportsbook went off-line in August of 2009 and at the time displayed a message to players that complaints could be lodged wth liquidators. Thirty two players filled out sportsbook complaint foms with SBR. BetOnBet owes these players $26,990.
BetOnBet player: [quote]In July 2009 I made a withdrawal of 450€, but BetonBet never pay me.I had talk to live chat, send emails and the answer was always the same "We will pay you soon."Then Betonbet closes and I never more have a contacto to claim. My only claim was at you (SBR). It´s possible to get my "lost" money?[/quote]
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-).
26.10.2009 (12:55 PM CST)
Betonbet downgraded from D- to F
SBR reported on BetOnBet's closure on August 22nd. BetOnBet slowpays have continued to be received since that time. Thirty two players report being owed more than $26,990. Few players were paid leading up to BetOnBet's closure. BetOnBet's official statement released to players stated that players would be able to be lodge complaints with liquidators. No information has been made available to player's since this cryptic message was displayed. In light of BetOnBet's failure to settle outstanding debts a rating adjustment to F was made.
| Read more
Slow-pay sportsbook BetOnBet (SBR rating F) closes. BetOnBet players were lucky to receive funds in the last month after submitting complaints. The last known payment went through August 8th. SBR first reported warning signs in July. The book's parent company, Eurolinx, announced its assets are being liquidated and the sportsbook is insolvent. It is unlikely players will see any of their funds. BetOnBet is the latest Malta-licensed operation to fold due to lack of funding.
[quote]Linx Media Group Company Statement
21. August 2009
MALTA – The Linx Media Group has today announced that it is seeking to put its businesses into liquidation and will cease trading with immediate effect.
As yet, the Linx Media Group does not know how long this process will take, but it will provide updates on the situation as and when information becomes available and when liquidators are appointed.
A company spokesperson from the Linx Media Group stated: “It is with great regret that we make this announcement. I appreciate the concern and frustration that this will inflict on the Eurolinx, BetOnBet, and Linx Casino player community. Affected account holders are those individuals who have agreed to a contractual relationship with the Linx Media Group through Eurolinx, BetOnBet and Linx Casino. All available player funds are held by these businesses. As soon as we have information on how to lodge claims with the liquidators, we will communicate this via www.eurolinx.com, www.BetOnBet.com and www.linxcasino.com.”[/quote]
21.08.2009 (11:50 AM CST)
Betonbet downgraded from D- to F
BetOnBet management informs SBR that BetOnBet plans to issue an official statement late this week, or early next week addressing the ongoing slow-pay issues players have experienced. BetOnBet slow-pay complaints have been surfacing by the dozen, as SBR has reported five times on the slow-pay sportsbook in the last 30 days. | BetOnBet forum discussion
Four new BetOnBet (SBR Rating D-) slow-pay complaints have been reported this week. Communication with BetOnBet management has slowed. BetOnBet has refused to comment on the reason for the lengthy payout delays, instead only stating that it would look into complaints by SBR readers. SBR will continue to press BetOnBet for answers, but BetOnBet has not been fourthcoming during a period where little progress has been made. One fifth of the complaints have been resolved but the same number of new complaints have been received. Players are advised to avoid this slow-pay sportsbook while at least 25 players puruse their funds.
Two BetonBet (SBR Rating D+) players report payment totaling over $2,000. BetOnBet management has yet to comment on the reason for the slow-pays but tells SBR they are being addressed. SBR will update on the status of owed players early next week.
Three BetOnBet players have reported payment. SBR has continued its discussions with the current General Manager of BetOnBet, who states that over half of the payment complaints filed with SBR have been resolved. SBR expects another update from the BetOnBet GM later this week.
On July 21st SBR reported the relationship between OddsMatrix and BetOnBet (SBR rating D-). The COO of OddsMatrix, Jesper Ramskov Jensen, contacted SBR stating that OddsMatrix stands by player balances for sportsbooks listed on OddsMatrix's references page. On July 29th the CEO of OddsMatrix and founder of BetOnBet Stian Hornsletten stated Jesper’s comments were incorrect, stating that BetOnBet is provided only sportsbook software and not a full turnkey solution. OddsMatrix CEO Stian Hornsletten states that they sold BetOnBet in January of 2009 to the Linx Media Group, which currently operates Eurolinx, BetOnBet, and LinxCasino. Players are advised to use extreme caution at any Linx-based sportsbooks or casinos until payment complaints are addressed.
SBR has began discussing the issues with the current General Manager of BetOnBet, and will update this report when we have more information regarding the backlog of payments.
OddsMatrix has seemingly tried to hide their relationship with BetOnBet following SBR's request for assistance with payout complaints. Players are advised to contact OddsMatrix directly at 44 797 628 7560 for information on their withdrawal. OddsMatrix's Jesper Ramskov Jensen told SBR that they hold player funds:
[quote]We do not have any stakes in any of the sites where the sports book is offered, nor do we operate our own brand. However, in case of the operators using our license, we hold the players sportsbooks funds in case of any break downs. [/quote]
25.07.2009 (02:40 PM CST)
Betonbet <span id="ctl00_ContentPlaceHolder1_GridView1_ctl02_Label1">Betonbet</span><span id="ctl00_ContentPlaceHolder1_GridView1_ctl07_Label1"><span id="ctl00_ContentPlaceHolder1_GridView1_ctl02_Label1"> downgraded from D to D-</span></span>
Following unanswered inquiries sent to OddsMatrix about their slow-pay turnkey licensee BetOnBet (SBR rating D-), OddsMatrix removed all mention of the sportsbook from its references and deleted all press releases regarding BetOnBet launches and product releases. OddsMatrix first wrote to SBR offering to discuss any matter regarding books "powered by OddsMatrix." Players should aggressively pursue withdrawals from the sportsbook. BetOnBet customer service is currently blaming additional security checks for delays.
OddsMatrix.com: [quote]OddsMatrix Ltd of Vincenti Buildings, Suite 713, 14/19 Strait Street, Valletta is a limited liability company registered in Malta (Registration Number: C44411), a member of the EU since May 2004, that operates under regulation and license from the Lotteries & Gaming Authority of Malta, license no: LGA/CL2/497/2008 issued on 3 February, 2009. [/quote]
SBR first reported on Betonbet payout complaints July 14th. The sportsbook states that their operation is licensed under the Lotteries and Gaming Authorities (LGA) of Malta, however it is actually licensed under OddsMatrix, a turnkey whitelabel platform that provides software and processing for those without their own resources. OddsMatrix states that is will assist if a licensee user has a problem. SBR has written to OM asking if they guarentee all player funds including winnings.[quote]If you have any complaints on sites operated under our class 2 license in Malta, I am happy to assist you.
We do not have any stakes in any of the sites where the spors book is offered, nor do we operate our own brand. However, in case of the operators using our license, we hold the players sportsbooks funds in case of any break downs. [/quote] Betonbet users have submitted over 20 slow-pay complaints this summer. Betonbet management has not communicated with SBR. Betonbet players are advised to take note of the slow-pay problems, and avoid making any further wagers until the processing issues are resolved. Malta has hosted many failed operations as of late. Players who where unaware of the recentl failed LGA-licensed books believe the Matla stamp of approval creates an undeserved sense of security. | View player feedback.
21.07.2009 (03:37 PM CST)
Betonbet - SBR initiates rating coverage at D
SBR has received multiple reports of slow-payment from unrated Malta-based sportsbook, BetOnBet. The sportsbook states it is licensed under the laws of Curacao, and claims the poker and casino license is supplied by the LGA of Malta. SBR is currently waiting for a manager to discuss the ongoing slow-pay complaints. If you are a player that is being slow-paid by BetOnBet, please contact SBR by filling out the sportsbook complaint form.
| Read more