BetOnSports settlement checks
Two BetOnSports players reported receiving 4.63% of their balances today. The players were issued a cheque via the mail attached with a letter from Antiguan liquidators. The letter specified that the enclosed payment must be cashed by September 28th, 2011. | BetOnSports settlement notice
SBR: What was your balance with BetOnSports when the sportsbook announced its closure in mid-2006?
BOS player #1: I had balances at Millenium of about $3,000 and Infinity of $123.
BOS player #2: I think my balance was around $247 based on the payout. Thankfully I lost a couple of sizable wagers right before they were shut down. I had been making deposits of $500-1000 and taking 50% bonuses. I'm pretty sure I lost at least $5000 just in the last few months of operation with the bonus deals, and I don't think I ever cashed out (if I did my balance would've been zero-I only made deposits to get bonus money).
SBR: Can you tell us what efforts you made to go about recovering funds? Who did you contact, what took place and when?
BOS player#1: I received an email from the liquidator several years ago, telling me to submit my claim at their website. I gave them my account numbers and balances, and never heard anything else until today.
BOL player #2: I applied on the website and had a login/password to check for updates. I think there were probably only one or two updates in the 5 years. As a side note, I have an acquaintance that received a payout of around $37 on a balance of around $800 so I am pretty sure everyone got the same percentage.
BetOnSports went off-line in August of 2006 following the indictment of CEO David Carruthers. BetOnSports terminated all of its employees and ceased its business entirely. BetOnSports players are believed to have lost many millions of dollars. BetOnSports PLC was the parent company of more than one dozen sportsbook sites.
BetOnSports held a sportsbook operating license in Antigua, however its daily operations were run out of Costa Rica.
SBR will update this report as additional settlements are reported.