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After reading that email, three questions immediately came to mind;
1. Does Canbet have any assets that it can liquidate?
2. Which are the associated companies and what assets do they have?
3. The auditors (whoever they were), claimed that Canbet had enough money to cover the players balances. What happened to this money?
Hi
I appreciate your efforts guys.
I am owed 2212,39 EUR, user: 1152614, Naiden Borimechkov
and also 1346.52 EUR for user: 1157006, Raya Manova
Hope these assholes pay every cent back.
good luck
It is amazing how that email suddenly appeared after all that's gone on in here the past few days. I've kept all emails from Canbet, some stating my withdrawal has been approved and sent to Finance for processing, that was start of November.
Did you all get thisfile:///C:/Users/PAUL/Pictures/canbet%20info.png email today?
Not sure if i've done it correctly!
Excellent questionsOriginally Posted by tomallen123
As to whether Canbet has any assets itself OUGHT to be irrelevant.
Player account balances should never be seen as assets of the bookmaker and don't belong in their balance sheet.
They should be maintained in trust accounts which are always available to pay withdrawals.
Unfortunately in too many jurisdictions this is not the way they work. I'm extremely disappointed to discover that the UK is amongst them.
I think we all know that most if not all the bookies servicing the US market regard player account balances as money available to them to fund their own operating expenses.
At least in Australia bookies are a) required to maintain segregated bank accounts for player balances and b) lodge security deposits to cover player winnings. Not that that is entirely foolproof if the administrators such as those in the ACT fail so miserably to ensure it happens as was the case with SportsAlive.
The interesting point in this case is that the GC is saying that an INDEPENDENT AUDITOR attested to their being sufficient funds available to satisfy player balances. OK so where are those monies?
Hi, thanks for all the hard work everyone. From the UK and owed £1137 from November
I am owed $ 9560.25.
Last edited by shari91; 02-12-14 at 05:58 AM.
Hi all, been following this thread for the last couple days and thought I would add my name to the list, from UK, owed £400 since early October. Same story as others ^^ I have copies of all correspondence
big thanks to everyone for all their hard work
comical email from canbet this morning, squeaky bum time for them
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
Another one for the ever growing list. From Sweden and owed £499.46. Did not request until 26 December as I was toying with the idea of trying to bust out once I realised that people were not getting paid. Decided against it in the end.
After following this forum closely, I was totally expecting some kind of delaying tactic from Canbet via email or contact with SBR. And there in my inbox today, confirmation that they are feeling the heat.
Big kudos to everyone fighting this fight, with special thanks to Shari.
What Canbet are now claiming. Until recently they had a figure for player liability, based on that figure, the auditors would say , no worries, you can cover it, and they would say the same to TGC. However now the real figures are emerging, and they can no longer cover it. However they must still have reasonable amounts of capital, to have been able to cover the original figures. Right up to the 14th of January, the auditors were still positive. Thats the money that must be released to players without further delay.
Do we know how much cash at bank Canbet declared in the December year end returns, that were recently submitted
Did you all get thisfile:///C:/Users/PAUL/Pictures/canbet%20info.png email today?
Not sure if i've done it correctly!
Nope. Didn't get it.
I'm in Canada, and probably one of the last to request a cashout.
Only being sent to select few for some reason?
I am owed £10,000 from the UK. I won this money purely from sports betting there was no casino bonus involved.
Good work guys keep it up.
Thought i'd add myself to this list, from the UK, owed £1500 since the start of November.
best course of action to date is that above - no one is being paid they have no assets!! the directors need to pay personally for their fraud
Last edited by shari91; 02-12-14 at 05:58 AM.
Hi Guys and gals,
First time poster from the UK, although I have been a regular visitor to the thread to keep abreast of developments.
Owed £700 and requested withdrawal 17/10/13. This was from the SUB not a reload.
Will do anything I can to help.
Many thanks to Shari, great stuff.
Damn, owed something simular by a betting agent for a long time.. Hope you'll get it back, that feeling is just sickening.I am owed £10,000 from the UK. I won this money purely from sports betting there was no casino bonus involved
Good work guys keep it up.
I am owed about €960. Hope Peter Lord ends up behind bars for a long time..
Sharia, cant thank you enough for your efforts! thank you! much appreciated. Canbet owes me £1800 since last year. Lets get them, we will come out trumps, because of all of your efforts, guys.
As for Peter Lord ad Co., I have one advice, take it or leave it.
'EVERY ACTION HAS AN EQUAL AND OPPOSITE REACTION'. so I suggest you think once, twice and think well before you start even contemplating of running away with OUR hard earned money!
I've been through is entire thread & noted what each poster say's they are owed by Canbet (upto page 15).
I've not included court fees & in most cases cancelled bonus amounts either. It's not easy to add up the total
has the currencies are different & not always known. Sorry if i've missed people, there's 82 on the list, I'll try to keep it updated. (A rough total is £150k)
Aitch ? 3000.00 amali83 € 477.96 aroberts77 £ 1327.50 AS19 £ 6500.00 atasway $ ???? bancoricardo £ 4000.00 barcir € 405.38 beachlover5 £ 2600.00 benashey79 £ 1026.00 bigmiky £ 700.00 callirye £ 1137.00 charbish £ 2700.00 coronalime £ 400.00 CunningStutns £ 5000.00 DenverLewis £ 1500.00 dirtdog52658 $ 1174.00 diter € 195.00 dr_wolf € 248.00 endtoend £ 970.75 endtoend £ 999.00 etelna € 4638.00 fraud-canbet € 5500.00 Fred87 € 650.00 ghipuca $ 280.16 Halifax $ 4960.00 hatke € 1810.00 hlorenz81 € 2400.00 icestorm £ 285.00 intergagne € 1425.00 janetf8 £ 1000.00 jenjoh ? 465.09 Joker10 € 3100.00 Jor-El £ 600.00 karli87 € 2200.00 kholoshian £ 500.00 King_Suckerman £ 2460.00 Krashman $ 1545.30 LN95994 € 1000.00 lockstock777 £ 1651.00 Lodo ? 730.81 lolly22 £ 1424.00 marinemonk £ 1140.00 mart sinc ? 2500.00 Maziolena € 10000.00 mhodge24 £ 124.00 MichelleV $ 9560.25 MiloRambaldi $ 3000.00 Naiden Borimechkov € 2212.39 Namechanger £ 1385.00 nelon € 4900.00 oxo £ 725.99 pareto12 £ 2211.15 paybk99 $ 5000.00 Peniosz £ 6100.00 pitrs £ 3000.00 Pleased to Michu £ ???? qinling € 443.00 Raya Manova € 1346.52 Roaldos € 960.00 rogerh £ 291.00 rolandd86 $ 2757.49 RyDLloyd £ 3254.77 saltare33 € 2900.00 samuelson £ 10000.00 Sensible1 £ 1838.97 smallplayer £ 3508.00 smiffywhu ? 4300.00 SpiderBoy $ 1380.93 stoffnilsson £ 499.46 stolarzz £ 1000.00 superhands27 £ 3400.00 TARUN € 3692.00 the unheardof ? ???? theshield € 947.00 tommyiii £ 4878.00 tristan727 £ 6000.00 Vilmer £ 558.00 VIRTUAL DAVE £ 4500.00 WesternWolf £ 6300.00 whuscott £ 322.50 Yuretz € 4851.53 Zdenaaa $ 450.00
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This post was nominated 2
times
. To view the nominated thread please click here.
People who nominated: smallplayer, and nicwelsh
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Hi, thanks for the good work done by many of you. I am not from the UK but I have once used a solicitor and get a case settled in the UK, which may be helpful experience. I am owed 7368.67 usd.
Hi, I'm from Poland. I expect the beginning of December to pay for Neteller 1,228.85 Euro. Also today I got @ the Canbet having the aforementioned content. PS. Thank you for helping to Shari and the rest to help users.
Last edited by shari91; 02-12-14 at 05:50 AM. Reason: removed acct #
Thanks to shari91 and others for the excellent work.
I'm owed USD558. I requested a withdrawal primo Jan
I'm new to this forum, I've been following this thread a few days now, but this is my first post. I won't repeat my story as it mirrors everyone else's here. I've just been one of the suckers who have patiently waited and hoped. I've been owed 729 pounds since early October. Account 1055376. You can add me to the list. Thanks for all your efforts and let me know if there's anything I can do, if there is anything.
Why do I get the feeling that the list of victims is growing momentum as people come forward - 2 or 3 days time this is heading to over $1 million AUD
Thank you very much for your help!
I am owed 3676.90 EUR from Canbet. Withdrawal was made 4.10.2013.
if lord and white are committed to what they said last time ("working towards the objective of full payout of legitimate claims") why don't they give the real numbers - how big is exactly the "discrepancy between what management believed were the client balances and what the actual balances were"? lord and white, if you read this, please sign up this forum and give us all the information
My figure is actually £5033.40 but £4128.40 was stolen already(31st Dec) as a forfeited bonus even though there was no terms stating they could do that in their bonus email...
Cheers again
Last edited by shari91; 02-12-14 at 07:07 AM.
PEOPLE OWED IN THIS THREAD
I'll update once a day and tomorrow I'll grab names from the other forums but please help to spread the word. "Unsure" next to your name or if the amount is bolded means I know you're owed but you havent said exactly how much so please let us know.
1. Yuretz: 4850 EUR
2. LN95994: 1400 EUR
3. diter: 195 EUR
4. atasway: over $5000
5. saltare33: 2900 EUR
6. stolarzz: 1000 GBP
7. Lodo: 730.81 ?
8. intergagne: 1425-1500 EUR
9. bancoricardo: 4k+ GBP
10. brockerly11: unsure
11. the unheardof: 1,294 GBP
12. Sensible1: 1838.97 GBP
13. endtoend: 970.75 GBP
14. BIGB21: unsure
15. kholoshian: 532.04 GBP
16. Zdenaaa: $450 USD
17. tristan727: 6000 GBP
18. fidelio: similar to ^^^
19. dirtdog52658: $1924 CAD
20. Tommyarmouriii: unsure
21: Maziolena: 10,000+ EUR
22. MiloRambaldi: $3,000 CAD
23. MichelleV: $9560.25
24. charbish: unsure
removed
26. Julian495: unsure
27: mhodge24: unsure
28. mart sinc: 2.5k
29: beachlover5: 2,600 GBP
30. FENDER1: unsure
31. Fred87: 650 EUR
32. smiffywhu: 4.3k
33. wpet99: unsure
34. Krashman: $1545.30 CAD
35. Joker10: 3100 EUR
36. Patryk: 4,897 EUR
37. hlorenz81: 2400 EUR
38. delneri: unsure
39. Rikki: unsure
40. benashey79: 1026 GBP
41. vladimir0v: unsure
42. Aitch: 3k
43. TG104: unsure
44. rogerh: 291 GBP
45. fraud-canbet: 4,000 GBP
46. GuybrushT: 12,000 EUR
47. RyDLloyd: 3,254.77 GBP
48. CunningStutns: 5,000 GBP
49. simply: 10,400 EUR
50. tomallen123: 570 GBP
51. panki: 5,000 GBP
52. oxo: 725.99 GBP
53. janetf8: 5,033.40 GBP
54. AS19: 6,500 GBP
55. lockstock777: 1,651 GBP
56. qinling: 443 EUR
57. VIRTUAL DAVE: 4,500 GBP
58. Pleased to Michu: Unsure
59. pitrs: 3,000 GBP
60. WesternWolf: 6,300 GBP
61. Namechanger: 1,385 GBP
62. aroberts77: 1,327.50 GBP
63. Peniosz: 6,100 GBP
64. Jor-El: 600 GBP
65. TARUN: 3,692 EUR
66. karli87: 2,200 EUR
67. smallplayer: 3,508 GBP
68. King_Suckerman: 2,460 GBP
69. SpiderBoy: $1380.93
70. rolandd86: $2,757.49 USD
71. tommyiii: 4,878 GBP
72. barcir: 405.38 EUR
73. paybk99: $5,000
74. superhands27: 3,400 GBP
75. hatke: 1,810 EUR
76. nelon: 4,900 EUR
77. etelna: 4,638 EUR
78. jenjoh: $465.09
79. icestorm: 285 GBP
80. pareto12: 2211.15 GBP
81. marinemonk: 1,140 GBP
82. Halifax: $4,960
83. kensei12: unsure
84: lolly22: 1424 GBP
85. amali83: 477.96 EUR
86. ghipuca: $280.16 USD
87. Vilmer: 558 GBP
88. whuscott: 322.50 GBP
89. NaidenMB: 2,212.39 EUR
90. NaidenMB's friend Roya: 1,346.52 EUR
91. callirye: 1,137 GBP
92. coronalime: 400 GBP
93. stoffnilsson: 499.46 GBP
94. samuelson: 10,000 GBP
95. DenverLewis: 1,500 GBP
96. bigmiky: 700 GBP
97. Roaldos: 960 EUR
98. avee: 1,800 GBP
99. wailoktam: $7,368.67 USD
100. lolo72: 1,228.85 EUR
101. Greekvik: $558 USD
102. cabbo: 729 GBP
103. sampou: 3,676.90 EUR
104: edsisto: 797.18 GBP
105. leeboo: 540 GBP
106. duncanbruce93: 1,867.75 GBP
107. marsima: $750 USD
108: Hendrik: 1,436.26 EUR
109. poncco: 500 EUR
110. Tomislav K: 5,455.10 EUR
111. Kackey: 2,007.36 GBP
112. BETTIX: 560
113. CM1979: 1,607.60 EUR
114. matcyklop: 3,907.83 EUR
115. skunkbentley: 877.44 GBP
116. Philbrix: 1,773 GBP
117. linkatine: 1,298 GBP
Last edited by shari91; 02-12-14 at 08:14 AM.
£1294.00 requested via Skrill/Moneybookers. Nice job!
Hey Sensible - When I got to the end of this thread I saw that you'd compiled a list too. Thanks! Feel free to add the unsure names to your list and adjust for stolen bonuses and keep updating if you want. The unsures will help to remind people to give us their total and in my mind until Peter and Graeme prove there was anything wrong with those bonus winnings then I consider it owed to the player. They can't just wipe out large bonus earnings simply to try to reduce what they owe.
Hi, thanks a lot for all the hard work in trying to get something done about this whole situation, wanted to just give my information to the thread:
Uk User
797.18 requested in October and "passed to our finance team" on October 17th.
All money was solely from Sports betting.
Thanks again guys.
great work, thanks
Here are the terms for the easter bonus I deposited for . No mention of a expiry date or that they could remove bonus and winnings:
*100% Deposit match Terms and Conditions:
1. The bonus is only valid on your next deposit at Canbet.com between Wednesday 27th and Sunday 31st March 2013.
2. The promotional code for this offer is 27MAREAS.
3. To receive the bonus you must turn over (bet through) your qualifying deposit once in full (x1), and the bets must be settled within 30 days of depositing.
4. All qualifying turnover requirements must be placed at odds of 1.75 or greater. Asian handicap, Multiple and In-Play bets do not count toward turnover requirements.
5. Before withdrawal the bonus and qualifying deposit amount must be turned over (bet through) five times in full (x5), and the bets must be settled.
6. The maximum claim for this bonus is £500 (€550/$750).
7. If the turnover requirement has not been met prior to any withdrawal, the bonus will be revoked (i.e. removed from the account).
8. This offer is by invitation only and is not transferable.
9. Qualifying accounts will be credited within 24 hours.
10. Standard Canbet Terms and Conditions apply.
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