Sportsbook news results for the search term: sportingoptions
Betfair tells SBR that all SportingOptions player balances of £1000 or less may be transferred from their SportingOptions account. For traders who held a higher balance, BetFair will offer half-price commission on all wagers until the total discounted commission equals the player's SportingOptions balance less the initially credited £1000. Those who lost large balances will be required to wager extensively in order to fully benefit from this relief package. All players looking to take advantage of this bailout must open or have an account at www.Betfair.com.
Betfair expects to assume all player balances by the end of the week. This move is expected to restore player confidence levels in the UK sports-trading market.
15.11.2004 (09:26 PM CST)
SportingOptions downgraded from C to D-
SBR to investigate the fate of player funds in the likley event that this sportbook closes its doors permanently. Below is the message received by players.
"As explained on the company's website www.sportingoptions.co.uk administrators are currently assessing the financial position of the company and reviewing its business operations. All trading on the company's website has been suspended until further notice. If you are a registered user, you may still view your account balance and history by logging on to the website. We would confirm that all unsettled markets have now been voided, and individual account balances updated accordingly. We will endeavour to deal with your queries as quickly as possible, but ask that in the first instance you refer to the information made available on the company's website. The large number of customers make dealing with telephone enquiries time consuming and would delay the process of dealing with enquiries and the administration of the company efficiently. Thank you for your co-operation.
For and on behalf of the Joint Administrators,
Menzies Corporate Restructuring
17-19 Foley Street
London W1W 6DW"