An Oddsmaker player that deposited $500 years ago—without ever withdrawing—reported bringing his balance up to $4,300. After the closure of online sportsbook BetEd, the player became uneasy regarding the state of the industry and decided to request his first payout.
On May 25th, 2011 the player asked to receive $4,000 via a payment method offered by Oddsmaker. The player was told at the time that his payout would take 21 days to be received.
Recently, the player attempted to log-in to his account and found that it had been disabled. The player tells SBR that an Oddsmaker representative told him that management closed his account and that his funds would not be paid.
When the DOJ started shutting down sites, I requested a payout of $4000 by check around 5/25. They said it would take 21 days to send the check. I recently tried to log back in and they said to contact security. I called the 800 number and the rep said "that management had closed my account and that I would not be getting any money". They told me to e-mail support.
Oddsmaker has justified confiscating funds from players accounts by referencing a section of its fine-print with respect to professional players.
Oddsmaker has not provided comment on the disconnect between the rule on file and its enforcement.
To date, $203,432 in funds (inclusive of deposits) have been stolen from players.
SBRforum's analyst Justin7 provides video coverage on the Oddsmaker confiscations: