Sportsbook news results for the search term: goldvictory
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. "
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
Gold Victory (SBR rating F) no-pay complaints fill the SBR mailbox. No new informatin is offered from the sportsbook. Gold Victory's standard email response is: All the information that is currently available is present in our website goldvictory.com. We are working with the Lotteries and Gaming Authority of Malta (LGA) to amend the situation. Once we correct this situation all customers will be paid out and informed via email. Sportsbook Review now has over 40 Gold Victory, including sister site KickBets (SBR rating F), complaints that refrence deposits of over 100,000 USD. One invidivual player is reporting a balance of 24K USD. SBR is seeking information from Malta Gaming Authorities.
Gold Victory (SBR rating F) no-pay complaints filed at faster pace as players take notice of new website notification and SBR reports. GoldVictory's website now states: 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 amend the situation. Once the situation is amended, all customers with pending withdrawal/s will be paid out. Any updates regarding the situation will be posted here. Our sincerest apologies for the inconvenience.
It is common for Malta-licensed sportsbooks to work on payment plans with the Lotteries and Gaming Authority but it is rare that players receive their full balance as a result.
GoldVictory (SBR rating D-) Sportsbook off-line
The sportsbook's website currently states "We are currently updating our servers. The website will be temporarly
unreachable. As soon as the update is finished, it will be up and
running again.'' Odds are high that players will never be able to log in to their Gold Victory account again. | Player discussion
The no-pay sportsbook has removed all daily betting options, including soccer, with the exception of snooker. Players should continue to pursue their funds and document current balances with account screenshots. SBR has received no-pay complaints from players owed since February. Gold Victory complaints total approximately $40,000. In March the sportsbook made a cryptic statement (below) suggesting the company was dealing with ownership issues or possibly attempting to sell to another bookmaker.
| Read more
13.04.2009 (07:35 PM CST)
GoldVictory downgraded from D to D- to F
31.03.2009 (11:59 PM CST)
KickBets GoldVictory & Kickbets downgraded from D+ to D
31.03.2009 (11:59 PM CST)
GoldVictory & Kickbets downgraded from D+ to D
GoldVictory downgraded to D; sportsbook's response to complaints suggest internal business issues
Gold Victory's latest response is typical of a slow-paying sportsbook that is searching for investors and/or is for sale. Payout complaints continue to arrive daily.
[quote]Kindly note that GoldVictory will be in position to supply specific information in the coming days. During this stage any information may be used on forums to cause further alarm which is unnecessary. GoldVictory assured each client that all payments will be processed according to the order they where received and that all payments will be processed without any exception. GoldVictory is sorry for the delay and for the trouble that may caused to SBR but at this stage it is inevitable.[/quote]
Gold Victory (SBR rating D+) states it is unable to fill four week-old withdrawal requests. SBR has been contacted by 14 players concerned that they have not yet been paid by GoldVictory.com. Five of these players submitted withdrawal requests in the first few days of March. The second group emailed SBR complaining that they have not received information on withdrawal requests submitted mid-March. GoldVictory.com lists payout times at 48 hours for Neteller and Moneybookers, the e-wallet methods used by all who submitted complaints. Alternate payout methods have not been offered. SBR has contacted Gold Victory multiple times this month but the book has not addressed its current issues as it has in the past. Gold Victory told some players via email that a "backlog" in withdrawal requests was the reason behind the delay. The vague response leaves players wondering if some type of administrative action is delaying the processing of payment or it the sportsbook simply does not have the funds in its e-wallets. Moneybookers and Neteller can be normally be processed instantly by books servicing only non-US players. The sum of money owed to these players is over 15,000 euros. GoldVictory also owns Martial Arts betting site, Kickbets (SBR rating D+).
Gold Victory's standard response to players:
Thank you for your email. Please note that at the moment we are still caught up with a backlog of requests, which we are trying to process as soon as possible. We will inform you via email when your payment has been released. Thank you for your understanding in this matter.
SBRforum: GoldVictory Discussion
24.03.2009 (01:59 PM CST)
GoldVictory - SBR initiates rating coverage at D+