7/31/2010 12:53 PM
TowerGaming, OddsMatrix report
TowerGaming (SBR rating D+) has been added to the
sportsbook ratings guide.
TowerGaming is a licensee on the OddsMatrix platform.
OddsMatrix fully supports TowerGaming; powering their software and holding player funds in reserve. The COO of OddsMatrix confirmed the business relationship in a letter to SBR.
Jesper Jensen, OddsMatrix COO: Our relationship to TowerGaming is very good and they have competent people to run the business.
How the white-label platform controls player funds:
Jesper Jensen, OddsMatrix COO: As players are betting with OddsMatrix, we are in control of player funds residing in the sports book. If any of our licensees fails/dies, we are responsible to payout these players. This can only be done if the funds reside physically in the sports book balance. If funds are moved away, e.g. to main balance, poker- or casino balance, it is out of our control. As stated above, players are paid by OddsMatrix, but only if the licensee of OddsMatrix goes bankrupt. We are not doing day-to-day payment processing.
The last Malta-based sportsbook to use the OddsMatrix platform was
BetOnBet (SBR rating F). OddsMatrix claimed at the time that only software was provided to BetOnBet. BetOnBet's processing was reportedly done by the
linx media group. Both
BetOnBet and the
linx media group have since went bankrupt. |
Read full TowerGaming, OddsMatrix report
8/22/2009 01:48 PM
BetOnBet ClosedSlow-pay sportsbook
BetOnBet (SBR rating F) closes.
BetOnBet players were lucky to receive funds in the last month after submitting complaints. The last known payment went through August 8th. SBR first reported warning signs in July. The book's parent company,
Eurolinx, announced its assets are being liquidated and the sportsbook is insolvent. It is unlikely players will see any of their funds. BetOnBet is the latest
Malta-licensed operation to fold due to lack of funding.
linx media group Company Statement
21. August 2009
MALTA – The linx media group has today announced that it is seeking to put its businesses into liquidation and will cease trading with immediate effect.
As yet, the linx media group does not know how long this process will take, but it will provide updates on the situation as and when information becomes available and when liquidators are appointed.
A company spokesperson from the linx media group stated: “It is with great regret that we make this announcement. I appreciate the concern and frustration that this will inflict on the Eurolinx, BetOnBet, and Linx Casino player community. Affected account holders are those individuals who have agreed to a contractual relationship with the linx media group through Eurolinx, BetOnBet and Linx Casino. All available player funds are held by these businesses. As soon as we have information on how to lodge claims with the liquidators, we will communicate this via www.eurolinx.com, www.BetOnBet.com and www.linxcasino.com.”
7/30/2009 11:40 AM
BetOnBet update; sister sportsbook Eurolinx enters SBR rating guide at D-On July 21st SBR reported the relationship between OddsMatrix and
BetOnBet (SBR rating D-). The COO of OddsMatrix, Jesper Ramskov Jensen, contacted SBR stating that OddsMatrix stands by player balances for sportsbooks listed on OddsMatrix's references page. On July 29th the CEO of OddsMatrix and founder of BetOnBet Stian Hornsletten stated Jesper’s comments were incorrect, stating that BetOnBet is provided only sportsbook software and not a full turnkey solution. OddsMatrix CEO Stian Hornsletten states that they sold BetOnBet in January of 2009 to the
linx media group, which currently operates
Eurolinx,
BetOnBet, and LinxCasino. Players are advised to use extreme caution at any Linx-based sportsbooks or casinos until payment complaints are addressed.
SBR has began discussing the issues with the current General Manager of BetOnBet, and will update this report when we have more information regarding the backlog of payments.