Tipico confiscates €2,000 citing 'organised betting'

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A Tipico (SBR rating D-) player reports that a €2,000 balance has been confiscated. The Tipico player tells SBR that he opened his account on October 5th, 2010 and began wagering as normal. After three months of successful play, the player reports that his maximum wager size was lowered to €99. He continued to play, withdrawing through Moneybookers every so often even with the imposed wagering limit.

The player reports that exactly one year after opening his account, he received a letter that his account was being closed on the grounds of "organised betting", or syndicate play - a charge the player denies. | Tipico Sportsbook letter to player


Tipico Sportsbook's letter to player:

 

 

Tipico Sportsbook: 11. Organised Betting: Customers must place their bets as individual persons. Should one or more customers try to place the same bet several times, their bets can be reversed. This rule may also be applied to already evaluated bets, if Tipico suspects that several customers have formed a syndicate or the respective bets have been placed repeatedly by one or several customers or the bets have been worked out together. In this event Tipico retains the right to confiscate the funds contained in the account.


What is 'organised betting' or syndicate play?

A betting syndicate is a stable of sports bettors who work in collusion to beat sportsbooks. Often, bettors pool together their resources to attack sportsbooks, circumvent their limits, beat them to line moves, and to conspire to place wagers on the same events simultaneously in a very short amount of time.

Tipico's Malta gaming license

Online sportsbook operators have favored Malta for the country's lax gaming license requirements. The following sportsbooks have flatlined, completely going offline whilst proudly displaying a Lotteries and Gaming Authority license on their homepage footers: BetOnBet (SBR rating F), BetAfterBet (SBR rating F), Stryyke SBR rating F). Other sportsbooks like GetWin (SBR rating D+), ComeOn (SBR rating C-), and Sportsbook.com non-US (SBR rating D-) are also headquartered in Malta with a respective gaming license.

Tipico has been assessed with an initial rating of D-, good for a spot on the scam sportsbook blacklist. SBR will attempt to reach Tipico management to discuss this complaint.

 

 

 

 

 

 

 

 

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