Syndicate betting claims, SBR Industry News update
Sportsbook Review.com news anchor Natalie Rydstrom and dispute analyst Justin give an SBR Industry News update for Tuesday, December 4th, 2012. Today's topics include the recent accusation of syndicate betting by two sports betting sites, as well as other outstanding news items from the SBR newswire.
There are many different types of betting syndicates — but normally, the term refers to a group of players connected in some way, that make the same bets at sportsbooks. One advantage syndicates have is circumventing betting limits: For example, a sportsbook might accept €5,000 on a soccer match: but when five players collaborate to make this same wager, they’ve managed a €25,000 bet. The group often works for a flat percentage of winnings: the puppetmaster being the person bankrolling the operation.
In the last week — SportsbookReview.com has received four complaints from players who claim their winnings were confiscated on the grounds that they were guilty of syndicate betting. The complaints, while similar, do have their differences.
DafaBet Sportsbook, an operation licensed in the Phillippines, confiscated €1,200 from two players after accusing them of the violation. The players are based in different parts of the world, did not make the same bets, and each risked a relatively small amount of cash — certainly not enough to exceed the maximum accepted by the bookmaker.
ToBet Sportsbook on the other hand, confiscated winnings from two players who each wagered on the same market: an in-play Albanian soccer match. ToBet linked these players by their region and bet history, and claims that they are two of six account-holders. ToBet is unwilling to further discuss the dispute, as the Malta LGA, their licensing body, rubberstamped their decision to confiscate winnings despite the fact that no hard evidence, such as common IP addresses or other records, were released.