5/22/2009 05:57 PM
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:
Parlays should not have been offered on this game and were only offered on this game due to operator error. Company policy is to only offer such parlays when the point spread is roughly a third or less of the points total. The fact that the bets were not voided until after the match does not alter the fact that the parlays were accepted in error in the first place. Agreed, it is certainly not normal practice to detect such bets until after the event. Again, through operator error these bets were not detected prior to grading the event.
Canbet cites a rule that it claims supersedes the fact that the software allowed the wagers and graded them after the player's funds had been risked.
In the event that a line or price is put up in obvious error due to a human error by an employee, any customer wagers entered to take advantage of such error will be void.
The most applicable rule Canbet has for these wagers suggests that they were valid bets that are allowed.
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 will remain under review as this and other disputes are discussed further and more is learned about Canbet's impending migration to its new platform and management.
International All Sports Ltd. sold Canbet last week to Yin Khing Investments Ltd.
IASBET's rating will also be reviewed. |
IASBET Ltd:
Canbet press release
9/2/2007 11:55 PM
SBR’s Sports Betting Rules Monitor:Coral (SBR rating A-) adds notice that it will now grade all cricket bets that it has not offered a price for the tie or draw as no-action (voided wager).
GamblersPalace (SBR rating C) &
Skytower (SBR rating C) states that it reserves the right to require users to leave bonus and deposited funds in the account for 30 days before withdrawing.
BetOnline (SBR rating A-) adds statement regarding the voiding of winnings from free-play wagers where the bettor bets on both sides of the same game.
IASBET (SBR rating B) revamps rules pages. IAS players are advised to review this page
here for information relevant to his or her betting habits.
InstantActionSports (SBR rating C-) changes house limits.
BetUSA (SBR rating D+) changed rules on season win totals for NCAAF from 11 regular season games to 12 regular season games. Adds rule for baseball props regarding if a game is suspended and completed on a different day. Added new rules for hockey shootouts.
7/9/2007 02:12 PM
SBR’s Sports Betting Rules Monitor records changes at four sportsbooksCanbet (SBR rating A-) adds stricter bonus termsCanbet now requires signup and reload bonus requirements to be met within 90 days or they will be revoked.
11/21/2006 07:00 AM
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.
11/29/2004 09:56 AM
SBR Bill Dozer reports: IASBET (SBR rating B) website has been down for over one week.
IASBET reports that they have been fighting a DoS attack and that there is no time frame set for when the they will be back online. Players can access account information by calling 877.846.9854.
8/7/2004 08:14 PM
IASBET LTD parent of BetAustralia(SBR rating B+) acquires rival Canbet (SBR rating B+) 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