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. "