Betsson acquires Betsafe sportsbook

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Swedish bookmaker Betsson (SBR rating B-) has officially acquired Betsafe. Betsafe—a Malta-based operator—held a rating of C in the SBR sportsbook ratings guide. Betsson reportedly spent €32.5m in acquiring all shares of Betsafe (corporate name Artic Invest SA). As part of the deal Betsafe will also receive future payments during 2011, which amount to a revenue share relative to the development and growth of the Betsafe base.

Recent Betsson sportsbook news
On January 7th, 2011 a Betsson player reported that he was accused of chip-dumping. The player told SBR that his account was frozen on suspicion of foul play in the Betsson poker room. The Betsson player noted that he had operated an account for four years without any problems. Chip-dumping is the practice of funneling money to related accounts within a poker game, usually involving two+ accounts. It is a way to evade an insufficent funds deposit or to circulate ill-gotten funds. The player in question withdrew his sportsbook complaint.

On December 8th, 2009, a Betsson player reported having his account closed. The player's balance was €250 when he was shutdown. Betsson alleged that the player was guilty of laundering funds and account fraud. Betsson declined to share the evidence that led them to the conclusion, however, the player opted not to pursue the complaint further.

On December 2nd, 2009, Bettson banned a player with a €2,600 balance. Betsson declined to discuss the dispute with SBR, and provided a statement to the player indicating that their risk and fraud team determined that there was grounds to terminate the account.

Recent Betsafe sportsbook news
On October 19th, 2010, a Betsafe player claimed that a wager was voided, then reinstated after it lost. The player told SBR that he wagered 3600 SEK on a European basketball team at 1.6 odds. Two hours into the game, the player says the wager was voided. Five hours later, his wager was reinstated and account debited for the loss. BetSafe addressed the wager with SBR on October 20th, stating that when the match went into overtime it was improperly graded as a push, causing it to be voided in the player's account. At the conclusion of the game, Betsafe properly settled the bet. SBR concluded that Betsafe acted fairly.

On February 25th, 2010, Betsafe canceled a winning wager on the over 148.5 in a womens Euroleague basketball game. A player wrote to SBR that he wagered €50 to win 42.50. Betsafe reported to SBR that the reason the bet was canceled was due to the wrong team being listed as the home team. Betsafe's cancelation of the bet came at the conclusion of the match. SBR asked that bettors who had the losing side of the bet write in if their bets were settled as losers -- no such players wrote in.

 

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