Bet1128 player complains the sportsbook confiscated his balance of over $37,000 Euros

[bigboydan]

Bet1128 (SBR rating D+) player complains the sportsbook confiscated his balance of over $37,000 Euros the week of August 24, 2008.

He was one of five complaining players that won over $100,000 Euros combined betting on Olympic boxing round-robin parlays. Bet1128 closed all the player accounts and seized all balances including deposits, claiming they were a betting syndicate. Bet1128 does not claim the players exceeded the maximum stake per bet with multiple accounts, bet from the same location or at the same time, or exceeded the one-day maximum win amount of $150,000 Euros.

Their sole explanation was:

"Our customer XXXXX YYYYY has been linked to a group of punter. It’s our right to protect ourselves against this kind of strategy, which is unfair and deemed as cheating by our terms and conditions. We are able to prove the link of these players and ready to show to the relevant body. We are looking forward to receive official request from all the person involved in the affair, in order to clarify our position as soon as possible."

Bet1128 failed to provide valid reasons for their actions. The sportsbook states that an IBAS investigation is pending. Bet1128's rules do not prohibit players from sharing wagering information. The player admits to knowing the other sports bettors and states he did not initiate or take part in an investigation with third party, IBAS.

[APK]

That's serious cash!
Let's see what IBAS has to say about this.

[bigboydan]

That's serious cash!

Your not kidding it is sir.

[I.R.B]

47k thats fuk'd..

[HeeeHAWWWW]

Perhaps bet1228 need to be reminded that this sort of publicity will result in a lot of people not using their site anymore.

I know I certainly won't, barring some sort of explanation.

[tomwakefield]

I withdrew my balance when this was reported on BookmakersReview. Last they'll see of my money.

[THEGREAT30]

Serious cash, now thats a serious stiff.

[durito]

Your not kidding it is sir.

You're or You are.

Tal vez puedes ir a una escuela de ninos para aprender ingles.

[Justin7]

This dispute is still in discussions. There are IBAS filings, and I'm still talking to their management. I hope they reconsider, and do the right thing.

[laxdjock]

Wow....just wow.

[headgames]

I also withdrew my funds (approximately $1500) from these after the reports of this broke. I received it all within 3 working days.

[Tsoprano]

[bigboydan]

I also withdrew my funds (approximately $1500) from these after the reports of this broke. I received it all within 3 working days.

May I ask when you withdrew your funds. I mean was it in the past 7 days?

[wtf]

they dont complain if you lose, or do investigations. what scum

[HeeeHAWWWW]

I suggest everyone withdrawing because of this emails them to let them know why. It's the only way they'll learn.

[headgames]

May I ask when you withdrew your funds. I mean was it in the past 7 days?

It was early October (3rd) when a 2nd report of confiscation was put up on Bookmakersreview. There had already been a previous report about a confiscation on the 20th September and this new report was supposedly linked to that earlier one. Bookmakersreview downgraded Bet1128 onto their Orange List initially and then to their Red list (a list for scam books etc)!

It didn't sound great to me so I withdrew that day and it was back on the 7th so 2/3 working days as there was a weekend between withdrawal and receival.

[DesrAw]

Any update on the confiscation issue?

[SBR Lou]

Any update on the confiscation issue?

Bet1128 Confiscation update: Bet1128 offers payment plan of $5,000 per week

Bet1128 (SBR rating D+) Confiscation update: On October 28, 2008 SBR reported that a group of Bet1128 players had their winnings confiscated. SBR reviewed the dispute and stated that Bet1128 should pay the five complaining players their full winnings and confiscated deposits, totaling over $100,000. Bet1128 refused. The players brought their complaints to IBAS, an arbitration service advertised on Bet1128's homepage. IBAS ruled in favor of the players, stating that Bet1128 should pay full the balances on each account. One player has subsequently asked for his $34,000 balance. Bet1128 has thus far offered to pay him in installments of only $5,000 per week.

[betpartners]

WOW

IBAS finds in favour of a player, something must be wrong somewhere going by what you read on these forums and the bias towards IBAS.

I mean if IBAS found in favour of a player what does that mean, is the earth really flat

Or could it be that IBAS do in fact do an excellent job as they have done in this case and the totesport case and many others besides.

Well done IBAS keep up the good work that you are reknowned for.

[moonbeam]

Bet1128 closed my account without any reason.
But that´s not really a wonder for this former NO PAY book Paradisebet.
I don´t know exactly the amount they owed me. It wasn´t a lot, I guess roundabout 150 Euro.

[Slim]

Justin will get to the bottom of this.

[moonbeam]

I guess bwin is the only book who likes justin

[SBR Lou]

05.26.2009 (04:55 PM CST)
Bet1128 (SBR rating D+) has credited over $150,000 to five players whose boxing parlay winnings where initially confiscated. The dispute was first report October 28, 2008.

[moonbeam]

05.26.2009 (04:55 PM CST)
Bet1128 (SBR rating D+) has credited over $150,000 to five players whose boxing parlay winnings where initially confiscated. The dispute was first report October 28, 2008.

Do you know if they are bankrupt now?

[moonbeam]

I mean, perhaps they can´t pay hundreds of other players now.