Racebets.com betting limit dispute

By: | Thursday, November 8, 2012

Update: Racebets.com addresses dispute. SBR considers this matter resolved.

A Racebets.com (unrated) player files a dispute. The player deposited €2,000 to Racebets after being emailed with a 20% deposit promotion. After receiving the bonus, he began wagering and eventually cleared through all but €1,000 of the turnover requirement. Racebets then lowered his bet size to €1.

Racebets player: "I deposited €2000 to my racebets account after they emailed me regarding a 20% deposit promotion.
I received the bonus immediately after making the deposit. I have roughly €1,000 of my wagering requirement left before I am able to withdraw and they have limited my bet size to €1. I have politely asked them to increase this limit but 'trader says no'. Would you support me in attempting an increase to my betting limit?"

The industry standard when a sportsbook or racebook no longer wishes to accept a player's action is to prorate the bonus and cut the player loose.

Racebets is licensed by the Lotteries and Gaming Authority (LGA) of Malta.

SBR is following up on this dispute.