2/11/2010 10:39 AM
SBG refuses to revisit decision to lower payouts on winning Futures bet
SBG Global (SBR rating D-) will not reverse its decision to lower payout odds on a
formula 1 racing future for all players. On 1/10 SBR
reported that it decided to pay one player who wagered $200 to win $14,00 on Jenson Button at 70:1. The player was not willing to accept a reduced odds settlement.
SBG Global is refusing to pay other players who bet the 70:1 wager their full winnings noting that these players already accepted settlements. It is SBR's position that these deals were made under durress - players were given the option to ha ve the wagers voided, or settle at 10:1 instead of 70:1. The odds of 70:1 were fair market value when the wagers were placed.
1/10/2010 01:32 AM
SBG Global reverses decision to cancel wagerSBG Global (SBR rating D-) has reversed its decision to cancel a
formula 1 racing future. The decision was initially outlined in SBR's April 22nd report. Three players wagered Jenson Button at 70-1 to win the
formula 1 World Championship. At the time the wagers were placed, other sportsbooks offered similar odds.
SBG Global voided the bets and offered the players the wager at reduced odds - all but one player, who wagered $200 to win $14,000, accepted the deal. SBG Global has decided to honor the player's wager and agreed to pay the full $14,000. SBR will update this report pending the player's confirmation. The dispute was handled by new customer service manager, Juan Romano. | View original
SBG Global report.
5/1/2009 04:47 PM
Scam Alert: Beware of SBGglobal (SBR rating D-) Kentucky Derby Bonus OffersSBG Global is emailing players with deposit bonus offers of up to $6,000. The offers that seem to good to be true, might be. SBG recently stole players' winnings on the
formula 1 World Championships. Players made valid wagers on a driver at 70-1 that were canceled and replaced with an offer of the same bet at odds of even money. Offering high odds on future bets without the intention of honoring the wager is a common scam. It allows a sportsbook to take a lot of action on an event and upsetting only a small percentage of those who wagered on the race.
4/22/2009 01:23 PM
SBG Global (SBR rating D-) cancels futures wagers on formula 1 World ChampionshipsThree players wrote SBR with similar complaints. Each player had wagered on Jenson Button to win the
formula 1 World Championship at the odds of 70:1. At the time these wagers were placed the betting market, including
Bookmaker (SBR rating A+),
The Greek (SBR rating A+) and
Betfair (SBR rating A+), was offering similar betting odds. SBG waited until Jenson Button won the first two
formula 1 races, voided the wagers, and offered to reinstate the bets at 10:1. SBG is wrongly applying the "gross or obvious error" rule to these bets. The line was not offered in error.
SBGglobal bettors are victim of outright theft. This sportsbook has a long history of cheating players. SBG management would not discuss the cancellations with SBR.