Canbet Sportsbook payout issues update - Canbet Director comments..

[fidelio]

This work started by Shari is wonderful and given us all hope. The collective working is encouraging.

Guide us Shari and we will follow.

[barcir]

Hi Shari and thank you for your great work! I owed 405,38 € requested in November. If you need other information, please contact me

[dirtdog52658]

Cant wait to find out when his trial will be, might just take a vacation down under to see the look on the pricks face.

[paybk99]

HI! Guys i am owed $5000 from canbet requested in oct, got nothing paid. Have already made a complain to SBR in NOV.

[superhands27]

shari you are a lovely lovely person. thank you for everything you are doing to help us.

I am owed £3400 since 17th Oct.

[paybk99]

Everyone should send his story to those sites. Don't forget that, no excuses.

Hi i have replied to all this new agencies and guess what just now i got a call from ABC news. They wanted all the details. I've sent them
the emails i received from canbet about their fake payment promises. I have sent this thread link to them to read. He said he will
call me after reading all this. I said him about the work done by shari and he wanted to talk to him.

[dirtdog52658]

Hi i have replied to all this new agencies and guess what just now i got a call from ABC news. They wanted all the details. I've sent them
the emails i received from canbet about their fake payment promises. I have sent this thread link to them to read. He said he will
call me after reading all this. I said him about the work done by shari and he wanted to talk to him.

Got an email answer from the guy about an hour ago as well. Going to be passing contact details onto Shari.

[hatke]

Same problem with Canbet

They own me, I asked for withdraw of 1810 euro in December 2013.Thanks shari91 very much for you job.I have called Delta Corp as they left phone no. on Canbet site. But that was another scam.As you all probably know Canbet do not respond on phone and emails.Well I want to see with you all how to deal with this issue.I was contacting Skrill, because I make deposit trough it, and they have policy about money frauds, what Canbet clearly have done. So, I am waiting for answer from them. I also contacted IBAS ans GC.Do you suggest to do again??? Thanks and together we will win I believe that.

[benashey79]

I am owed £1026 + £70 court cost for filing claim, withdrawal request November 13th, initial deposit and bonus credited on November 5th.
I have been contacted by the Herald Sun (Melbourne newspaper) and they are looking at running a story on it as well, the journalist has been down to the offices already, will keep everyone posted if I hear anything else

[Hareeba!]

Hi i have replied to all this new agencies and guess what just now i got a call from ABC news. They wanted all the details. I've sent them
the emails i received from canbet about their fake payment promises. I have sent this thread link to them to read. He said he will
call me after reading all this. I said him about the work done by shari and he wanted to talk to him.

Strange how so many posters think Shari is a bloke.

Well, perhaps not that surprising as she's showing some balls on this issue.

[nelon]

Hi guys, I am watching the forum and this thread every day.
I just made an account.
I am owed 4900 euros since October...
IBAS is rubbish, they cannot do sth for us.

[Hareeba!]

Hi guys, I am watching the forum and this thread every day.
I just made an account.
I am owed 4900 euros since October...
IBAS is rubbish, they cannot do sth for us.

I really don't believe this issue is appropriate for IBAS.
Their role is to adjudicate issues relating to bets where there is a dispute between the punter and a member bookie after all avenues have been exhausted without a resolution.
Their role is not to chase up debts.
Several years ago I was successful in referring a dispute to IBAS.

[shari91]

Hey guys - I'm not at home right now so it's hard to reply to everyone individually but if you need to send documents or give a local contact to the media, you can send them to sbr.shari@gmail.com. Also if you're a member of other forums where bettors or affiliates are owed money please encourage them to post in here. The more of an accurate picture we have, the better and the worse it looks for Peter and Graeme.

[nelon]

I really don't believe this issue is appropriate for IBAS.
Their role is to adjudicate issues relating to bets where there is a dispute between the punter and a member bookie after all avenues have been exhausted without a resolution.
Their role is not to chase up debts.
Several years ago I was successful in referring a dispute to IBAS.

I am happy for u

[etelna]

Hi everyone! I would like to join in on any legal action against Canbet. I am owed 4638 EURO since 29th of September 2012.

Great job shari91!

[jenjoh]

Hello,I´m from sweden,I am owed 465.09 since december

[icestorm]

Hello, been following this thread and I have to say thank you to all those who have gone above and beyond in an effort to establish the facts. I am owed the measly sum of £285, but would be willing to help.

[pareto12]

I am owed £2211.15. At least the accounts remain accessible, which may offer some hope. Instead of spending time establishing a new bookie, maybe the directors ought to spend more time in honoring our withdrawal requests. Perhaps, we should be given the opportunity to transfer our balances and accounts to the upcoming new bookie.

[benashey79]

Just received the following email from Canbet, I assume everyone else has but if not here it is -
Dear Canbet Clients

We are writing to update you on your client withdrawal that is still outstanding and explain the reason behind the delay. As has been previously reported during the last quarter of 2013 an issue occurred in the Canbet IT system that was related to a number of bonuses and promotions that were offered to our clients. This issue has been fully investigated and the outcome that resulted left a discrepancy between what management believed were the client balances and what the actual balances were.

At the end December as the full extent of this procedure was becoming clear, the step was taken to cease trading until the problem was completely identified. During January we were able to ascertain the full extent of what has taken place and as such there was a cash deficit within Canbet Sports Bookmakers UK Ltd.

This has occurred through the issuing of the cash bonuses which far outweighed the sum of cash deposits, therefore creating a “bubble effect” within our customer balances. Once discovered, the preference of the Directors of the company was to work with the shareholders to increase the capital within the company that would alleviate the problem and pay out the existing claims. The directors initially hoped that the parent company would reach agreement amongst the shareholders for this to occur, but unfortunately agreement could not be reached with the majority shareholder. We acknowledge that we had made previous statements that were made on the belief that these funds would be forthcoming and apologise for the inconveniences that this has caused. Such statements were made in good faith.

As such, the Directors over the last week have taken the steps to engage and work with a business asset agent to liquidate assets from within Canbet and its associated companies to recoup the funds to pay you and other clients. We wish to stress at this point in time that the directors of Canbet are doing everything possible to ensure that you are paid.

The UK Gambling Commission have continually been updated with our progress and have been advised of the direction that the directors have taken and are aware of the circumstances that have led to this decision. They also have diligently sought information from the company’s independent auditors and legal counsel ensuring that the facts that have been portrayed can be verified. They have also received a copy of this letter.

Finally, we wish to acknowledge that this experience has caused a lot of angst and anger amongst the Canbet customers. This has not been deliberate in any shape or form and we look forward to reaching a satisfactory outcome.

In summary, we reiterate that we have not abandoned Canbet or its clients and are working towards the objective of full payout of legitimate claims.

Regards

Board of Directors
Canbet Sports Bookmakers UK Ltd

so if true, which I highly doubt, in other words they haven't got the money to pay us however by issuing this statement they are saying they knew there was a cash short fall and problem with bonuses and deposits and must of known this as far back as October probably further as this is when they stopped paying people, so why keep offering bonuses and taking deposits all the way up to Dec 31st, it's just a Ponzi scheme, at best, surely they are just incriminating themselves more!!

[marinemonk]

Hi New to SBR : I asked for £1100 withdrawal back on 20th Oct leaving approx £40 in the account after withdrawal - so am owed in the region of £1140 in total. All my emails asking what was going on were replied to saying it will happen soon etc etc.

thanks.

[dirtdog52658]

Just received the following email from Canbet, I assume everyone else has but if not here it is -
Dear Canbet Clients

We are writing to update you on your client withdrawal that is still outstanding and explain the reason behind the delay. As has been previously reported during the last quarter of 2013 an issue occurred in the Canbet IT system that was related to a number of bonuses and promotions that were offered to our clients. This issue has been fully investigated and the outcome that resulted left a discrepancy between what management believed were the client balances and what the actual balances were.

At the end December as the full extent of this procedure was becoming clear, the step was taken to cease trading until the problem was completely identified. During January we were able to ascertain the full extent of what has taken place and as such there was a cash deficit within Canbet Sports Bookmakers UK Ltd.

This has occurred through the issuing of the cash bonuses which far outweighed the sum of cash deposits, therefore creating a “bubble effect” within our customer balances. Once discovered, the preference of the Directors of the company was to work with the shareholders to increase the capital within the company that would alleviate the problem and pay out the existing claims. The directors initially hoped that the parent company would reach agreement amongst the shareholders for this to occur, but unfortunately agreement could not be reached with the majority shareholder. We acknowledge that we had made previous statements that were made on the belief that these funds would be forthcoming and apologise for the inconveniences that this has caused. Such statements were made in good faith.

As such, the Directors over the last week have taken the steps to engage and work with a business asset agent to liquidate assets from within Canbet and its associated companies to recoup the funds to pay you and other clients. We wish to stress at this point in time that the directors of Canbet are doing everything possible to ensure that you are paid.

The UK Gambling Commission have continually been updated with our progress and have been advised of the direction that the directors have taken and are aware of the circumstances that have led to this decision. They also have diligently sought information from the company’s independent auditors and legal counsel ensuring that the facts that have been portrayed can be verified. They have also received a copy of this letter.

Finally, we wish to acknowledge that this experience has caused a lot of angst and anger amongst the Canbet customers. This has not been deliberate in any shape or form and we look forward to reaching a satisfactory outcome.

In summary, we reiterate that we have not abandoned Canbet or its clients and are working towards the objective of full payout of legitimate claims.

Regards

Board of Directors
Canbet Sports Bookmakers UK Ltd

so if true, which I highly doubt, in other words they haven't got the money to pay us however by issuing this statement they are saying they knew there was a cash short fall and problem with bonuses and deposits and must of known this as far back as October probably further as this is when they stopped paying people, so why keep offering bonuses and taking deposits all the way up to Dec 31st, it's just a Ponzi scheme, at best, surely they are just incriminating themselves more!!

Admitting that they knew they were insolvent, meanwhile sending 100% bonus to people to entice deposits with no intention of paying them that is complete fraud. Thanks Peter for putting that in writting for us. We have seen the deals that come out of these situations in the past. If they liquidate assets and we do not pursue this matter further they will pay pennys on the dollar to people.

[shari91]

Surely Peter is just taking the piss now. Does he clear these emails by a legal adviser first?! If so he needs to ask for his money back.

I visit the office, we start piecing everything together: He contacts SBR after a month of silence

I talk with the lawyer and ASIC and ask everyone who is owed to come out of the woodwork: The next day he sends out this horseshit further implicating himself even more. It'd be hilarious if so much money wasn't involved.

All he's doing is trying to convince people who haven't come forward yet to "have faith" so they'll keep quiet. And because he knows every word I posted about ASIC is true, he's crapping his pants. Unfortunately for him, it's too late. I spent the time I should've been enjoying the park this afternoon with my son on the phone talking to journalists instead. Until every single person is paid what they're owed - and their bonus winnings returned to those accounts that saw them voided - I'm going to keep moving forward. This is an absolute disgrace.

I forgot to mention earlier if any of you are Australians who are owed - whether as bettors, affiliates or staff - please note that in your comment. If you don't feel comfortable posting that info publicly feel free to email me.

[FENDER1]

Just more crap in the desperate hope that those owed money will back off. They must have some available money, so why not as a token of good faith pay some of those who have been waiting the longest, some from as far back as September. Perhaps then if we could see some evidence of good will, we might be prepared to allow them a little more time. Simply refusing to release any funds is not acceptable, when according to the auditors they have some, they might not have the full amount, but they certainly have some cash.

Btw I have only been waiting since December, so wouldn't include myself for the above suggestion

[shari91]

Just more crap in the desperate hope that those owed money will back off. They must have some available money, so why not as a token of good faith pay some of those who have been waiting the longest, some from as far back as September. Perhaps then if we could see some evidence of good will, we might be prepared to allow them a little more time. Simply refusing to release any funds is not acceptable, when according to the auditors they have some, they might not have the full amount, but they certainly have some cash.

Btw I have only been waiting since December, so wouldn't include myself for the above suggestion

Exactly. The problem for them is that they shot themselves in the foot... when crap started to hit the fan, they would pay out a few of the smaller balances to keep people and the GC thinking they were paying and only pay out the odd larger one if the person had contacted SBR/the GC/the courts. So now there are many people each owed thousands of pounds for months now. Peter has several ways of coming up with the outstanding cash if he truly wanted to and this would've been over weeks ago. Hell we never would've known about Results. He's running scared now and I suspect he will be even moreso when I start posting the timeline of them sending out bonus offers and then the next day people reporting payment of a few hundred dollars after waiting for weeks. Over and over again. How this guy sleeps at night is beyond me.

[Halifax]

I'm owed $4,960 from Canbet, if anyone's keeping a running total.

[FENDER1]

Lets not forget about Delta, whatever is owed, they owe 51% of it. They have huge assets. and a reputation to consider

[mojobullfrog]

SBR reported the amount owed to players was over $250,000 (US dollars I presume.) But this was 3 weeks ago and as I understand, only included customers who had made a formal complaint with SBR. By the look of all the new people adding to this thread, that amount is a severe under-estimation. I shudder to think how much it could reach.

[adam7dalby]

Hi all,

Thought I would share this email I just received from Canbet's board of directors just now:

12th February, 2014

Dear Canbet Clients

We are writing to update you on your client withdrawal that is still outstanding and explain the reason behind the delay. As has been previously reported during the last quarter of 2013 an issue occurred in the Canbet IT system that was related to a number of bonuses and promotions that were offered to our clients. This issue has been fully investigated and the outcome that resulted left a discrepancy between what management believed were the client balances and what the actual balances were.

At the end December as the full extent of this procedure was becoming clear, the step was taken to cease trading until the problem was completely identified. During January we were able to ascertain the full extent of what has taken place and as such there was a cash deficit within Canbet Sports Bookmakers UK Ltd.

This has occurred through the issuing of the cash bonuses which far outweighed the sum of cash deposits, therefore creating a “bubble effect” within our customer balances. Once discovered, the preference of the Directors of the company was to work with the shareholders to increase the capital within the company that would alleviate the problem and pay out the existing claims. The directors initially hoped that the parent company would reach agreement amongst the shareholders for this to occur, but unfortunately agreement could not be reached with the majority shareholder. We acknowledge that we had made previous statements that were made on the belief that these funds would be forthcoming and apologise for the inconveniences that this has caused. Such statements were made in good faith.

As such, the Directors over the last week have taken the steps to engage and work with a business asset agent to liquidate assets from within Canbet and its associated companies to recoup the funds to pay you and other clients. We wish to stress at this point in time that the directors of Canbet are doing everything possible to ensure that you are paid.

The UK Gambling Commission have continually been updated with our progress and have been advised of the direction that the directors have taken and are aware of the circumstances that have led to this decision. They also have diligently sought information from the company’s independent auditors and legal counsel ensuring that the facts that have been portrayed can be verified. They have also received a copy of this letter.

Finally, we wish to acknowledge that this experience has caused a lot of angst and anger amongst the Canbet customers. This has not been deliberate in any shape or form and we look forward to reaching a satisfactory outcome.

In summary, we reiterate that we have not abandoned Canbet or its clients and are working towards the objective of full payout of legitimate claims.

Regards

Board of Directors
Canbet Sports Bookmakers UK Ltd

[kensei12]

First time poster - thanks Shari91 and all others for excellent work- I was also assured by Michael at the office my payment would be processed

I happened to see the IGAS Website before they removed all the links so saw this coming all too late

I am not buying the external Auditor story that they said funds were sufficient to cover the payout - Auditors are required to take out significant Professional Indemnity Cover and there has been no mention of the Auditors Name

Any statements made by an Auditor would not have made before they undertook an updated Audit or they would be risking their Professional Indemnity Cover with these "reassuring" statements that funds are available so I am very sceptical about the "Auditor" story

If Canbet/IGAS required an Annual Audit the Audit Report and hence the name of the Auditors would probably need to appear on Financial Statements lodged by Canbet/IGAS with ASIC . I've tried to dig a bit to get the Auditors name and Registered Company Auditors Number but not having much luck - it might require buying some more info from ASIC - not sure

My hunch is that the Auditors if they exist haven't signed off on the Accounts recently because if they have they might be included in any action. It won't be the first time ASIC have sued an Auditor on behalf of investors but alas I doubt the Igas/Canbet Auditors if any would be that negligent

[lolly22]

I'm from TGT and saw you are putting a list together of what people are owed. I'm owed £1424 from Oct 13.

[Hareeba!]

Orright Mr Independent Auditor, Show Me The Money!

[amali83]

I'm from Romania and owed 477,96 EUR by Canbet from beginning of November.

I did file complaints with SBR,IBAS and with the GC.
I would join to take action.
THANK YOU

[ghipuca]

Hi mates, I am from Georgia, Tbilisi and i am with you all. They owed me not so much as you but its my money which they have to pay me 280.16 USD, i have send emails to GC, to Crime Stoppers Victoria in Melbourne about that that it was fraud but there where no replies, i have sent several emails to canbet but there where all the time same answers.

[Vilmer]

Hi everyone. Sorry for my bad english (I am from Sweden). I am owed 558£ since late october. As most people in here I have contact IBAS, GC and SBR. I am really impressed of the the work done here, with Shari in front. Brings me hope back, not just to get my money but also that there is still good, helpfull and honest people in the world. Big thanks and keep in touch if I can do anything.

[whuscott]

I made a withdrawal of £322.50 on 24th October.
I reported the delay to SBR on 4th November after seeing so many reports of slow payment.

Thanks so much for this thread and everybody that is trying to retrieve our funds.