BetPhoenix (SBR rating B-) has struggled to pay players via advertised eWallet methods, such as Neteller and Moneybookers, within their listed time-frames. The delays were first reported by users in July of 2010. Management initially assured SBR that this would not be a problem once they funded their eWallet merchant accounts. Currently there is no time table for how long these payouts will take or if Phoenix will update its website which already lists 7-10 business days for what is an instant method when using a funded account.
In light of their inability to service players by eWallet, BetPhoenix
has offered to fill player withdrawals through bank wire, an option that many do not wish to accept since each time winnings come back to their checking account there are fees for country taxes as well as currency exchanges. Players then have to redeposit to Neteller or Moneybookers and then wait for it to clear, if they want to move their gambling funds to another sportsbook.
SBR has suggested that the BetPhoenix group update their website with accurate estimates for Neteller and Moneybookers to avoid false advertising. The BetPhoenix family, including BetPhoenix, Betmania
, and Sports-1
, have been downgraded yesterday to B-.