BoogieBet voids winning wagers

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Three BoogieBet (SBR rating D) players have submitted live wagering complaints. The three players tell SBR that they had winning bets nullified by BoogieBet.

BoogieBet argues to SBR that the odds were not updated at the time the players placed the wagers, not that they were off-market to start with. The situation is commonly referred to in the offshore world as linesmen "falling asleep at the wheel".

SBR suggests that in cases where a sportsbook is not quick enough to a line-change, that players not be penalized as a result of the sportsbook's tardiness. | BoogieBet explanation

BoogieBet Sportsbook: If you were in a casino and there were cards missing from a blackjack deck, would you continue because the players perception was that of a accurate deck of cards? No. Bets would be refunded the deck would be fixed. Please also know that this impacted upon losing players too. We also refunded their stakes too, we have not taken advantage of their situation for the profit of a small amount of money.

We regret this occurred and Oddmatrix tells us procedures are in place to prevent this happening again. We believe our decision to refund ALL bets is the fairest decision.

BoogieBet is powered by Oddsmatrix.

Other licensees on the OddsMatrix platform include TowerGaming (SBR rating D+). The COO of Oddsmatrix, Jesper Jensen, described how the hosting platform controls player funds in a written statement to SportsBookReview on July 31st, 2010:

Jesper Jensen, Oddsmatrix COO: As players are betting with oddsmatrix, we are in control of player funds residing in the sports book. If any of our licensees fails/dies, we are responsible to payout these players. This can only be done if the funds reside physically in the sports book balance. If funds are moved away, e.g. to main balance, poker- or casino balance, it is out of our control. As stated above, players are paid by oddsmatrix, but only if the licensee of oddsmatrix goes bankrupt. We are not doing day-to-day payment processing.

The last Malta-based sportsbook to use the platform was BetOnBet (SBR rating F). Oddsmatrix claimed at the time that only software was provided to BetOnBet. BetOnBet's processing was reportedly done by the Linx Media Group. Both BetOnBet and the Linx Media Group have since went bankrupt.

BoogieBet has been introduced to the SBR Sportsbook Ratings guide at the mark of D.


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