Canbet Pulling Out Of US Market

pags11 · 11-21-06, 06:22 AM

I don't think this is a good thing at all as these guys are a pretty well respected book...sorry to hear...

Sam Odom · 11-21-06, 09:28 AM

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bigboydan · 11-21-06, 01:01 PM

Another one bits the dust for us U.S. players

11.21.2006 (07:00 AM CST)

Canbet (SBR rating A-) and IASbet, also known as InternationalAllSports (SBR rating B) will stop servicing players residing in the USA at the end of this month, citing the Safe Port Act. International All Sports Ltd, an Australian publicly traded company and the parent company of Canbet, follows other public gaming companies who either sold to private ownership groups or refocused on non-US clients. Both websites invite players to withdraw their balances prior to the close of the month.

thezbar · 11-21-06, 04:39 PM

I could get burned with this move.I had a couple $50 freeplays which I used on nfl and nba future wagers. Should I connect there's no way I'll be able to meet the 5x rollover.Another example of why its necessary to be very careful out there.

joe blow · 11-21-06, 05:12 PM

Originally posted by thezbar

I could get burned with this move.I had a couple $50 freeplays which I used on nfl and nba future wagers. Should I connect there's no way I'll be able to meet the 5x rollover.Another example of why its necessary to be very careful out there.

I have $150 in FREEPLAYS.A $100 on ohio st and $50 on USC.
So are we just screwed out of them

Am i right to assume so

JoshW · 11-21-06, 05:43 PM

Not too surprising. Market will keep getting smaller and smaller with only the old school books holding on and getting even richer IMO.

thezbar · 11-21-06, 08:32 PM

One month its canbet; the next month its can'tbet.I,m sure they will post something with regards to this situation.We can't be the only ones in this boat.I,ve got a couple of longshots anyway.Panthers to win the nfc at 6to1 and clippers to win it all at 18 to 1.However you Mr.joe blow are looking at a possible hedge at the worst.I also have usc at 6-1 at the gold coast

David · 11-21-06, 08:46 PM

Originally posted by joe blow

I have $150 in FREEPLAYS.A $100 on ohio st and $50 on USC.
So are we just screwed out of them

Am i right to assume so

From canbet e-mail:

"All bets that are placed on or before November 30th 2006 by residents of the USA (including pending bets) will stand and be honored by Canbet."

TLD · 11-21-06, 09:08 PM

I just called Canbet and asked about the pending free plays that will not be graded until after November 30. The person I spoke to had to check with a supervisor. She said that in effect all such bets are void. They will be graded as normal, but because you will not be allowed to place bets to meet the resulting rollover, you will never be able to get at that money in your account.

I said this didn’t seem very fair and perhaps some other arrangement could be worked out, and she agreed and suggested I put my objections or ideas in writing and send them an e-mail. I’ve done so, and will report if I get any good news in response.

joe blow · 11-21-06, 09:58 PM

Originally posted by TLD

I just called Canbet and asked about the pending free plays that will not be graded until after November 30. The person I spoke to had to check with a supervisor. She said that in effect all such bets are void. They will be graded as normal, but because you will not be allowed to place bets to meet the resulting rollover, you will never be able to get at that money in your account.

I said this didn’t seem very fair and perhaps some other arrangement could be worked out, and she agreed and suggested I put my objections or ideas in writing and send them an e-mail. I’ve done so, and will report if I get any good news in response.

They better fugure out what they are going to do ,because i spoke to them on live chat and they told me that all freeplays will be graded and when i asked them about the needed rollover..I was told that they would wave it...

thezbar · 11-22-06, 08:23 AM

I emailed canbet this morning in hopes of getting some answers.In reviewing my account I actually have 150 dollars in free plays pending

thezbar · 11-22-06, 04:56 PM

Dear sir
thank you for your email
With regards to your freeplays,both of these will play out as normal and in the event of a win for you,you will be allowed to withdraw your winning. With regards to rollovers if you haven,t met the rollover ammount by the time the ban comes into force,then any outstanding bonuses will be forfeited
I trust this resolves you query.
Matt White member services

TLD · 11-24-06, 01:21 PM

They never responded to my e-mail (which is true of half or more of the e-mails I’ve ever sent Canbet) so hopefully it’ll play out the way they state in their e-mail to you.

(There’s still a slight ambiguity in their response, though. Some books regard free play winnings as a form of “bonus.” So since it’ll be impossible to meet the rollover on those winnings for the futures, then maybe they’ll say that money is “outstanding bonuses” that “will be forfeited.” So I’d feel better about their response if it had ended with the first sentence, which is clearly what we want to hear.)

Dark Horse · 11-24-06, 01:35 PM

From e-mail from Canbet:

"....any pending free bets that are not resulted by the 30th will still be honored and any winnings can still be withdrawn after the 30th."

Seems straightforward.

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NFL - score in first 7:30 minutes of ARI@MIN

Jay Edgar · 11-24-06, 01:44 PM

I'm sad to see them go -- that -107 was fun.

Futures are rare for me but I have a couple of decent-size ones there in the NFL -- go figure. So I'll be logging back in in January if there's anything left to collect.

Here's the other "go figure," which I'm sure seems to happen to many of you -- at a book where you'd rather avoid an actual withdrawl transaction (and maybe fees), you try to "withdraw" via scalps at very small-change-profit or break-even to you. And the side you want to lose just keeps winning, and the balance you're trying to shrink goes higher and higher.

Sometimes books are hard to break up with

pags11 · 11-25-06, 03:55 AM

definitely jay...canbet was a solid U.S. book that will definitely be missed...