SBR review: PremierBet

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. 

The Premierbet (SBR rating D-) sportsbook website is now back online despite that the book's parent company, Interactive Gaming Holdings PLC, announcement that it is insolvent and the stock remains suspended. Debt to players is estimated to be well beyond the £400,000 that the sportsbook was seeking from investors. SBR continues to receive complaints daily. Phone calls and emails to the sportsbook are unanswered.

Premierbet (SBR rating D-) sportsbook taken off-line; principals resign
Premierbet.com currently displays the message: "Premierbet regrets our site is temporarily unavailable for essential maintenance work. We apologise for any inconvenience this may have caused and will be back as soon as possible.."  yet the parent company, Interactive Gaming Holdings released a statement yesterday saying that it stopped taking wagers due to a lack of funding. IGH subsidiary, Heathorns is also off-line displaying a similar message. IGH's stock was suspended on August 17th, 2007.

Interactive Gaming Holdings PLC: The Company announces that as of today it has ceased to take bets pending clarification of the financial uncertainty notified on 17 August 2007. The Company is continuing its discussions with General Capital Venture FinanceLimited and another potential funder.

Mitchell Petchenik and Robert Spriddell have both resigned, as Executive Vice President and Non-Executive Director respectively, with immediate effect. Arbuthnot Securities Limited has resigned as the Company's Nominated Adviser and Broker with immediate effect.

SBR will continue to monitor pending payouts and pursue information regarding account balances.

Premierbet (SBR rating D-) source of new slow-pay complaint; company stock suspended.
Premierbet's parent company, Interactive Gaming Holdings plc has announced today that it has not received the interim funding needed and its "financial position has become uncertain."

Player: I see from your site that other people are suffering with Premierbet.  I am delighted that you are highlighting this.  Other sites seem too cowardly or inefficient to let people know. I have withdrawals to the total of £4100 outstanding since 16 July .  I can't understand how they are allowed to go on trading. My account is still open, and I have £1500 credit still showing. Can you advise me on anything I can do?    They are ignoring my emails,and phone calls are directed to a London number which is constantly on answer machine.

Two Premierbet (SBR rating D) players receive four-figure withdrawals after waiting over seven weeks. One slow-pay complaint currently remains. The bettor has been pursuing payment for 32 days.

Premierbet enters the SBR rating guide at D. The sportsbook, which is the source of four SBR reader withdrawal complaints, is considered to be in slow-pay mode. Posters on multiple betting forums have also shared their frustraions with the book's lack of withdrawals and communication. | BettingAdvice posters complain