Gambling Industry News

After three players filed a complaint on the payment processes followed by their sportsbook, AllYouBet, SportsBookReview got a statement from them in reference to these three disputes that had not yet been addressed. The statement did not concentrate on each of the three issues in detail but it was more of a general explanation. Before closing the cases, SportsBookReview.com contacted each of the customers to make sure they had settled an agreement with the company.

The three cases were all very similar. They all involved unhappy customers that requested a payout and their money was not being released. They all coincided in the fact that AllYouBet was not being very helpful and did not keep them in the loop as to why the payouts were being held up. In one case, the customer said that he had followed each and all of the guidelines that the sportsbook asked him to. He had turned in all the documents they requested from him. However they still did not speed up the process. The other two players were not very clear if they did the same, however they must have had a very good reason to go through with the claim.

Another frustrated player touched base with SBR to inform that his sportsbook, Bet770, has been stalling on a payment he requested back in April 7th of this year. To a certain extent, the player understands why the verification process for the payout of £838 was so long and tedious. He complied with everything requested in the KYC drill but since then he has been refused with an update of where his payment status is.

For those who do not know what the KYC drill is, we are glad to explain. The KYC drill that stands for Know Your Customer is a strict regulation that is set upon financial institutions where they are instructed to fully identify their clients and get all the important personal information before settling any type of business or transaction of great value or importance. The KYC drill works hand in hand with the Anti Money Laundering strategy (AML). The KYC drill will go as far as researching specific documentation in regards to accounts, identification records, and transaction records especially the ones involving large amounts and other.

Back in February 22nd of this year SBR had dropped a major bomb by reporting about one of the costliest disputes between a bettor and his sportsbook. It was announce that Oddsmaker had seized $45,000 from this player a little before January 2012. After going on a winning spree, Oddsmaker feared that they were facing a professional gambler and decided to confiscate the funds.

Everything started when the player attempted to cash out $8,000. He grew nervous about it when he read that in the past Oddsmaker.com had confiscated payouts of large sums of money. He became even more nervous when the company stalled his request and ended up only paying him half of what he requested. He received $4,000 through check.

Almost two months after the insecurities of this issue started, Tony Massina called the customer and accused him of being a professional gambler and also accused him of threatening to take legal action against Oddsmaker if they kept stalling the rest of the payment and holding back his funds.