Canbet Sportsbook (SBR rating D+) management has reached out again to SBR to state that all outstanding player payouts will be processed and paid in the coming week. To this end, Canbet Sportsbook provided a prepared email statement describing the reason for the over $100,000 in player payout complaints, some of which have been delinquent for over two months.
SBR downgraded Canbet Sportsbook following the flood of payout complaints submitted by users. Canbet management previously only spoke in generalities on when their payouts would be back on track, and few users have actually reported receiving their withdrawals recently.
Attached below is the contents of the PDF attachment provided by Canbet to SBR staff, which is reportedly being emailed to all players affected by the ongoing payout delays:
Canbet letter to players:
Please be advised that your withdrawal request will be processed and paid over the next week.
Over the past two months, as you are well aware, Canbet Sports Bookmakers UK Ltd has experienced immense difficulties in making payments to our customers. As our customer service department has reported, this has been the result of an IT error that had been triggered through bonus bets and free deposit match up bonuses.
Like many companies within the online industry, some components of the IT software are controlled by a third party and integrated into the main IT platform. At Canbet this has been the case with our financial software program for many years. This third party IT program accepts deposits and issues withdrawals; it calculates all financial transactions including bonuses.
Recently it was discovered that this system was not recognising all the rules associated with deposit match up bonuses, thus many customers were unduly qualifying for their bonuses. This resulted in management having to undergo a complete overhaul of the third party IT system, including a financial forensic audit, whereby we had to first identify the issues, find out how far back the issue went, identify every customer and each of their bets and then assess if the customer qualified for their bonus or not. Unfortunately, all of this has taken time to complete.
Whilst we appreciate that this delay in payment processing has caused unnecessary angst amongst our customers, we were left with no alternative other than to resolve this problem and ensure that everyone who has made a withdrawal request was eligible to withdraw their money and paid the correct amount. During this period, once our customer service and finance department were satisfied that the customer was eligible or not to withdraw their funds, they have either been paid or notified as to why they were not eligible due to not satisfying the bonus requirements.
Over the next week, our customer clearance procedures will once again be automated which will result in customers being paid in an expedient manner, thus clearing the backlog of withdrawal requests. Going forward, we will be upgrading our whole financial platform to ensure that we don’t have a repeat of this in the future.
I would like to thank both the UK Gambling Commission and IBAS for their support and assistance during this period and look forward to our customers once again enjoying the benefits of one of the world’s oldest online sports books.
On behalf of the team at Canbet, I do offer our sincere apologies for any inconvenience that this temporary issue has caused you.
SBR asks Canbet players who have not already done so to file a sportsbook complaint.
Follow SportsbookReview.com on twitter. SBR has been the leading online sportsbook industry watchdog since 1999. Players in need of assistance should submit a sportsbook complaint form. Players with general questions may also contact SBR by writing to email@example.com.