Sportsbook news results for the search term: canbet
Canbet Sportsbook players have reported being owed more than $1.2 million. Sportsbook Review continues to receive complaints from these players on a daily basis. Sportsbook Reported on the downfall of Canbet on February 21. While there is plenty of blame to go around on the collapse of the once well regarded sportsbook, there has been no consolation to the players who lost their funds.
Canbet Sportsbook players remain owed over $1 million. Sportsbook Review last reported via video update that sportsbook complaints continued to flow in from users that have not been paid. Unfortunately for these players, there have been no positive updates resulting from any bailout discussions. Players next hope comes from the form of a liquidation of the sportsbook's assets, although this would account only for a fraction of the total funds owed by Canbet. SBR remains hopeful that a deal can be made and will update upon readers upon learning of any new developments.
Globet Sportsbook remains off-line following their abrupt closure earlier this year. Over two dozen Globet players have filed complaints with SBR over not receiving payment, the amount owed to these players exceeds $30,000. SBR will update as any new information becomes available on the Globet case. These players are in the same boat as those who lost their funds upon the closing of Canbet Sportsbook, although that case was on a much larger scale as Canbet Sportsbook users were stiffed over $1 million.
Sportsbook Review.com provides an SBR iGaming News video update. In today's show, Canbet Sportsbook and the $1 million+ owed to players is reported on; Canbet Sportsbook players continue to write in that they haven't been paid following the unexpected collapse of the long-standing online sportsbook. An update is also provided on Dimeline Sportsbook.
Sportsbooks licensed by the UK Gambling Commission have long been shielded from much of the public distrust toward online bookmakers. These organizations billed themselves as operating in rock-solid jurisdictions, or as Canbet Sportsbook put it on their website, the "strictest and most regulated wagering environment".
Sportsbook Review has spoken with the Director of Canbet (SBR rating D-) via telephone conference regarding unpaid player funds. Players have reported being owed over $740,000 through sportsbook complaints to SBR. The Canbet Director acknowledged this sum is a small fraction of their delinquent payout obligations and of user balances.
In today's Sportsbook Review iGaming News update, host Natalie Rydstrom reports on the recent resolution of two sportsbook disputes involving 10Bet Sportsbook (SBR rating B-). Other show topics include an update on Canbet Sportsbook (SBR rating D-) and their recent blacklisting by SBR. Canbet currently owes over $250,000 to their players.
01.21.2014 (12:21 PM CST)
Canbet Sportsbook downgraded from D to D-
More than four dozen Canbet Sportsbook (SBR rating D-) players have reported being owed in excess of $250,000. Canbet Sportsbook has released statements pinning the blame on technical issues within their system and ceased accepting deposits or wagers since 31 December 2013. The UK Gambling Commission acknowledged the situation but few updates have been given to players.
12.31.2013 (04:42 PM CST)
Canbet downgraded from D+ to D
Canbet Sportsbook (SBR rating D+) has ceased accepting bets and deposits as of 31 December 2013. Canbet updated its website homepage this morning with the news. This comes nearly three weeks after Canbet management claimed to SBR that all players with outstanding payouts would receive their funds in a week.
SBR reported on December 13 that Canbet Sportsbook management issued a statement to all players that payouts would be processed starting in one week. Canbet Sportsbook pointed the finger at an internal IT error triggered through bonus bets and free deposit bet offers. Get the full scoop in today's SBR iGaming news video.
Canbet Sportsbook (SBR rating D+) management has reached out again to SBR to state that all outstanding player payouts will be processed and paid in the coming week. To this end, Canbet Sportsbook provided a prepared email statement describing the reason for the over $100,000 in player payout complaints, some of which have been delinquent for over two months.
Canbet Sportsbook (SBR rating D+) players have reported being slow-paid approximately $100,000. Most of the payout complaints are days old, submitted by players who are accustomed to relatively prompt eWallet payouts from the aging sportsbook. A director of Canbet provided comment to SBR two weeks ago regarding the source of the delays.
In today's Sportsbook Review iGaming News show, host Natalie Rydstrom covers the recent sportsbook items to hit the SBR newswire, including an update on one formerly decent sportsbook's continued slide as dozens of Canbet Sportsbook complaints have been submitted by frustrated players. An update on BetSafe Sportsbook is also given.
Ten new Canbet Sportsbook players have filed SBR complaints. Approximately 40 slow-pay complaints have been submitted by users, although most claims stem back a few weeks. Canbet users are not accustomed to the extended delays. Canbet management recently provided a statement to SBR blaming technical issues for the financial hiccups.
10.31.2013 (02:45 PM CST)
Canbet Sportsbook downgraded from C- to D+
A director of Canbet Sportsbook (SBR rating D+) has provided comment to SBR on the recent accumulation of player payout complaints. SBR has received over two dozen reports from players owed as far back as September 2013. The combined amount owed to players currently sits at over $28,000. Five players have reported payment from Canbet since news of the slow-pays broke.
Five Canbet (SBR rating C-) players have reported receiving payment. SBR has reported recently that over a dozen Canbet Sportsbook users have filed sportsbook complaints. The five players collectively received over €8000. Canbet is still telling players who have not been paid in their advertised time-frame that they are experiencing "technical issues".
In today's SBR iGaming News video report, SBR provides an update on one Canbet Sportsbook (SBR rating C-) player's report of payment, as well as the currently outstanding payout disputes on file. Canbet has not provided comment to SBR regarding their current delays. Players are asked to file a complaints to air their grievances against Canbet Sportsbook.
A Canbet Sportsbook (SBR rating C-) player has reported receiving payment of €4800. The player requested payment on October 4. SBR reported in the last week that more than ten Canbet Sportsbook payout complaints were submitted. Canbet gave each player a generic copy/paste claiming technical issues have caused all payouts to be delayed. | Read more
Sportsbook Review.com reports in today's video special on the latest outstanding sportsbook complaints and iGaming items from the SBR newswire. One of the headlines of the program is the ten Canbet Sportsbook (SBR rating C-) payout complaints which have been submitted by users. SBR first reported on Canbet's woes earlier this week.
Canbet Sportsbook (SBR rating C-) is reportedly telling players that technical difficulties have resulted in a backlog of payouts. More than ten players have filed complaints with SBR indicating that payout requests dating back to September 24 have not been completed. SBR has followed up with Canbet Sportsbook for comment.
Canbet Sportsbook (SBR rating C-) is now owned by Interactive Gaming & Sports (IGASgroup.com). SBR reported that the company's prior ownership, Yin Khing Investments Ltd, acquired the sportsbook in May of 2009.
Canbet (SBR rating C-) is requiring that player who accepted a bonus of £25 on a prior deposit, before zeroing out his entire balance, resumes his rollover fulfillment. Despite funding his account a number of times thereafter after losing both the bonus and his balance amount, Canbet recredits the £25 bonus and asks the player to complete a 6X rollover. SBR is following up on the dispute.
A Canbet (SBR rating C-) bonus complaint has been received. On February 22nd, a player deposited $250 and received a $125 bonus. Canbet's T&C required the player rollover the bonus amount six times before the bonus amount would be moved into the cash balance. Canbet did not state that only certain bets count towards this rollover. It only counted bets made when a player's non-bonus balance was already tied up in wagers. There was no rule or explanation stating this policy. Canbet's interpretation of its own rules in this regard does not conform with the industry standard - unless stated otherwise, any bet made counts towards rollover.
03.08.2010 (09:39 AM CST)
Canbet downgraded from C to C-
On May 22nd SBR first reported on Canbet (SBR rating C) cancelling 27 correlated NCAA football parlays. The parlays were for full game sides and totals. Canbet's position was that their software is never supposed to accept parlays in which the pointspread exceeds 33% of the total. The software accepted 27 parlays from the same player and all bets were graded as normal. Canbet voided all wagers one day after the games had been settled after the player made a withdrawal request. Today the player has reported to SBR that he received a letter from IBAS ruling in favor of Canbet. It is not unusual for IBAS to side with sportsbooks in these cases. SBR will continue to pursue the case.
09.30.2009 (06:24 PM CST)
Canbet downgraded from C+ to C
Seven years ago Canbet broke into the top ten SBR list of top online sportsbooks. The Australia based operation had been a long-time member of the Top 20 list, widely regarded among off-shore bettors as a solid out that was worthy of being on any player’s short list. Canbet reached a rating as high as A-, earned on May 14th 2005. They maintained that mark impressively for four years.
Then everything changed. Bonus terms were retroactively changed, payouts were delayed, accounts were confiscated, and even winning wagers were canceled. Following IASbet's sale of Canbet on May 13th 2009 to Yin King Investments Ltd., Canbet has only continued its slide of poor management and player relations.
Here are some of the more disturbing unresolved complaints against Canbet. | View full report (written by Lou Moretti)
May 22nd 2009: Canbet cancels 27 correlated NCAA football parlays
Canbet cancels 27 correlated NCAAF parlays the day after the bets were correctly settled in players account. Canbet maintains their software has never accepted correlated parlays where the pointspread exceeds 33% of the total, stating the string of bets were accepted due to ''operator error''. Canbet management has stated that they believe the player was aware of this as he proceeded to bet more than his average stake size and also deposit in larger amounts to take advantage of these plays.
Canbet’s posted rules on correlated players actually make an argument on the player’s behalf:
Any multiple made up of more than one selection from the same event will be deemed a related contingency. i.e. Alan Shearer to score 1st & Newcastle Utd to win; Denver -7.5 pts and Denver to win the game. The only exception to the above is in North American sports where sides and totals can make up a multiple bet. "
Canbet canceled 27 correlated NCAA football parlays on different games; downgraded to C+
SBR has discussed the case numerous times with management in recent months. Canbet states that their software has never accepted correlated parlays where the point spread exceeds 33% of the total, and that the string of bets were accepted due to "operator error." Management also stated they believe the player was aware of this as he bet more than his average stake size and also deposited larger amounts to take advantage of these plays. Canbet:
05.22.2009 (05:43 PM CST)
Canbet downgraded from B+ to C+
SBR received four complaints that Canbet (SBR rating B+) is changing bonus terms and amounts after players accept and invest in the offers. Canbet has been downgraded from A- to B+ and will be reevaluated following further discussion with management.
Player: I telephoned Canbet a month ago just to check on the progress of wagering on my account and was informed by them that the terms and conditions of the bonus have changed - they have reduced the bonus to £160.00 from £200 and have advised me that i have to wager more than on the promo i signed up to. Essentially they are saying that i can have a lesser bonus (£160 instead of £200) and that i have to wager more than i originally thought.
Player: I've been caught up in the Canbet bait-and-switch of applying new terms retrospectively to existing bonuses. I have a £20 bonus I wish to withdraw, claimed several months ago under the old terms (straight forward rollover of deposit and bonus a few times). I've completed more than the original wager requirement required, yet I still have the bonus locked into my account, thanks to the new terms requiring all cash balance to be lost before the bonus is usable. Speaking to live chat they were adamant they could change the terms of existing bonuses as they wished
05.17.2009 (04:30 PM CST)
Canbet downgraded from A- to B+
Sports-Gambling (SBR rating D-): adds rule #7 stating that "syndicate play" is prohibited. The generic rule was added to support recent theft of player funds at sister sportsbook SBG Global (SBR rating D-). SBG stole winnings from players who purchased picks from the same commercial sports handicapper.
Bet1128 (SBR rating C-) changes max payout: "The maximum amount paid out by the company for any one bet will be £97,500. €500,000.00."
Canbet (SBR rating A-) increases max payout: The maximum payout on any individual, multiple or combination bet, or, to any individual on any one day, is limited to US$200,000 US$400,000.
Legendz (SBR rating A+) adds rule #19 stating that free contest winnings are capped
SBR’s Sports Betting Rules Monitor:
BetWay (SBR rating C) changes rule on head to head poker match-up wagering. The winning poker bettor must finish in the money for the wager to have action.
DimeLine (SBR rating D) rewrites baseball proposition bet rules.
Canbet (SBR rating A-) changes expiration period of free-play bonuses."Free bets must be placed within 30 days of being issued. Free bets not placed within this timeframe will be revoked."
BetRoyal (SBR rating D+) removes all rules regarding -105 reduced juice lineset.
SBR’s Sports Betting Rules Monitor records changes at four sportsbooks
Canbet (SBR rating A-) adds stricter bonus terms
Canbet now requires signup and reload bonus requirements to be met within 90 days or they will be revoked.
Expekt (SBR rating B) also tightens bonus terms; prohibits residents of Turkey
Bonuses will be deducted from account balances if wagering conditions are not met in six months. Turkey and the United States listed together as restricted countries.
InternationalalAllSports, or IASbet (SBR rating B), changes bonus conditions and free bet bonus rule. Free-plays must be used within 45 days of date awarded. All bonus turnover conditions must be met within 90 days.
Fonbet (SBR rating C) adds soccer betting rule.
Canbet (SBR rating A-) and IASbet, also known as InternationalAllSports (SBR rating B) will stop servicing players residing in the USA at the end of this month, citing the Safe Port Act. International All Sports Ltd, an Australian publicly traded company and the parent company of Canbet, follows other public gaming companies who either sold to private ownership groups or refocused on non-US clients. Both websites invite players to withdraw their balances prior to the close of the month.
The SBR network of websites, including SportsbookReview.com, SBRforum.com and live odds program, SBRodds.com will be off-line from Midnight CST Sunday July 9th until approximately 10:00 am CST Monday July 10th, for scheduled server maintenance. Players can view betting odds on SBROdds V1.0 during this downtime. The following sportsbooks have confirmed they will use the relatively inactive time surrounding the MLB all-star break to upgrade or perform maintenance. Pinnacle Sports (SBR rating A+). Maintenance to network from 7:00 pm CST Sunday July 9th until approximately 2:00 pm CST Monday July 10th. Wagering and customer service will not be available during this time. Canbet (SBR rating A-): Website will not be available on July 10 & 11 due to server relocation. Legendz Sports (SBR rating A-): Website scheduled to go off-line evening of July 10th in order to change software from IQL to BLR.
There will be no need to refresh the page on SBR Odds. This first ever FREE web page application will show odds movement as they are changed by bookmakers in *REAL TIME. SBR Odds welcomes Mansion (SBR rating B), as the latest sponsors to join the page. Current sponsors include: WWTS, Pinnacle, CRIS, Hollywood107, 5Dimes, Canbet, VIP, BetJamaica, Bowmans, Mansion and Matchbook. www.sbrodds.com
*SBROdds will be between 0 and 10 seconds delayed depending on server speeds and other variables.
Problem plagued FutureBet
books such as SportsbookUSA
earn an upgrade off the Black List to D-. This is an improving situation but still a high risk.
Mansion raised from C to B-. This upgrade highlights our confidence in Mansion management.
MajorBetting raised from D+ to C-. The unusual and increasing rating spread between MajorBetting at C- and their management company, BetRoyal rating of D, highlights SBR’s opinion that players are actually safer playing at the managed book.
Internet1x2 lowered to F-. We continue to work with players to get them paid. Unfortunately it appears that we no longer can be an effective intermediary as the book shows no concern for the continuing No-Pays.
Canbet upgraded from B+ to A-. It was January 26, 2004 when Canbet was last an ’A’ rated book. IAS, the parent comapnay, has worked hard to improve their product and player feedback clearly indicates they are making strong progress.
05.14.2005 (05:31 AM CST)
Canbet upgraded from B+ to A-
The SBROdds live-betting odds service announces the following books are posting overnight odds on NCAA basketball: Pinnacle(SBR rating A+), BetJamaica(SBR rating A+), CRIS(SBR rating A+), 5Dimes(SBR rating A) and Canbet(SBR rating B+). Complete handicapping stats are available on all overnight games.
Freaks Forum, Sharp Action Sports and System Plays are the latest quality sites to add live-odds, handicapping stats and scores provided free by SBROdds.
The current line-up of sportsbooks on the SBROdds feed include: WWTS(SBR rating A+), Pinnacle(SBR rating A+), VIP(SBR rating A+), CRIS(SBR rating A+), BetJamaica(SBR rating A+), Hollywood107(SBR rating A), Bowmans(SBR rating A-) and Canbet(SBR rating B).
Canbet (SBR rating B) $A -142,000 loss
BetWWTS (SBR rating A+) $A 2,294,000 profit
12.30.2004 (02:57 PM CST)
Canbet lowered from B+ to B
BetAustralia (SBR rating B-) closing its doors. Players may withdraw their balances in full. Funded accounts at the time of closing will be transferred to sister sportsbook, Canbet (SBR rating B+). In recent months BetAustralia has experienced website downtime and has stopped offering reduced juice. IAS LTD, the parent company of both sportsbooks, believes BetAustralia clients will notice an improved level of service under Canbet which utilizes better resources in the UK. Canbet will continue to offer reduced juice at -107.
Canbet (SBR rating B+) website and phones down without explanation.
A positive development for both operations. IASbet brings better management and a stronger financial position while Canbet offers an effective brand name. Both operations are well known for excellent customer service. Details of the merger
websites brought down by criminal elements attempting to extort money. Check the SBR Web Site Performance Meter and use the SBR Phone Directory for phone numbers.
USA (Toll Free): 1 800 399 8063 (Administration)
USA (Toll Free): 1 800 399 8062 (Betting)
UK (Freephone): 0800 783 3888 (Administration)
UK (Freephone): 0800 783 8833 (Betting)
04.16.2004 (01:35 PM CST)
Canbet raised from B to B+
(SBR rating B) Reports half-year larger than expected loss of $4.1 million dollars - Industry watchers, taking their cue from a late December profit warning, were expecting a loss of less than $3.5 million - SBR, for the second time in a month, lowers Canbet from a B+ to a B rating noting the company still has one of the strongest balance sheets in the industry compared to their Caribbean competitors. However, continuing losses brings in question managements ability to compete successfully in the low-vig market.
02.26.2004 (12:00 AM CST)
Canbet lowered from B+ to B
(SBR rating B+) has had at least two books in the SBR top 5 show interest - SBR has confirmed that neither book saw value or will make an offer - Sportbet(SBR rating D) having no luck finding a buyer so far - WWTS(SBR rating A+) is looking to buy a top 15 book - Pinnacle(SBR rating A+) has an eye on a specific sector and one company specifically to help its foreign expansion - VIP Sports(SBR rating A+) has turned down an offer to merge with an SBR top 10 book and instead has looked at acquiring turnaround candidate SportsInteraction
trimmed to 15, the least number in a year, with recent removals of Canbet(B+) and Intertops(B+)
01.26.2004 (04:51 PM CST)
Canbet lowered from A- to B+, removed from Top Sportsbook List
(SBR rating B+) issues profit warning to shareholders
04.18.2003 (04:53 PM CST)
Hollywood Hollywood, Canbet, Grande move up on the Full Top Sportsbook List, Carib drops out of top 10
04.18.2003 (04:52 PM CST)
Canbet Hollywood, Canbet, Grande move up on the Full Top Sportsbook List, Carib drops out of top 10
04.18.2003 (04:52 PM CST)
Carib Hollywood, Canbet, Grande move up on the Full Top Sportsbook List, Carib drops out of top 10
03.04.2002 (10:23 AM CST)
Canbet - Long time member of the Sportbook Review Top 20 list, breaks into top 10