Sportsbook scam alert and confiscations (VIDEO)

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SBR analysts Natalie Rydstrom and Justin7 give an SBR Industry News update for September 4th, 2012. In today's show, a sportsbook scam alert issued on WagerMadness of the BetCascade (SBR rating F) platform is discussed, as well as five outstanding Coral Sportsbook (SBR rating B+) confiscations, and lastly an update from Justin7's complaint bag.

A sportsbook scam alert has been issued on WagerMadness. WagerMadness is run on the same platform as infamous no-pay sportsbook BetCascade. BetCascade players were stiffed millions of dollars as the sportsbook imploded in 2007. BetCascade continues to maintain its domain, operating live chat support, email, and telephone customer service. All operators deciding to run their post-up through the BetCascade platform are added to the Sportsbook Review blacklist. SBR urges players to check the ratings guide before deciding to send their hard-earned cash to any online sportsbook or casino.

Coral Sportsbook has confiscated five player balances. Coral has not given a reason to the players, and has refused comment to Sportsbook Review.  One of the players reported that he registered with Coral on August the 17th, deposited $500 and lost his funds on one game. He redeposited an additional $500, but this time his fortune changed as he won his opening bet. Coral disabled the player’s account one day later. He has unsuccessfully attempted to reach Coral customer service. SBR has advised the player to launch a complaint with the UK Gambling Commission, which licenses Coral. The other four players report basically the same. Coral meanwhile has been downgraded to B+ by SBR. Check the SBR newswire for more details on these claims.

TopBet Sportsbook has received a ratings upgrade to C-. SBR reported in January of 2012 that new ownership acquired the domain, though the betting platform is powered by FutureBet. SBR spoke at length with TopBet’s new management and confirmed that TopBet provides its own player processing, reducing the risk associated with the notoriously crooked FutureBet. FutureBet ran several operators into the ground, not paying players their winnings and then reopening as new brands. FutureBet’s biggest licensee is Oddsmaker Sportsbook, SBR rating F. 

Follow on twitter. SBR has been the leading online sportsbook industry watchdog since 1999. Players in need of assistance may write to

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