Sportsbook Review – This past week in the Sportsbook Industry #6

All

Last week the sportsbook industry was full of all kinds of news and cases to report: BetExpress closed down, some WSEX Sportsbook players were paid while others sent payout complaints and BetOnSports players were paid 4.63% of their balances. Here are the details:

– BetExpress is no longer in operation, the sportsbook was powered by Oddsmatrix and their players have been moved to Guts.com, also under the Oddsmatrix platform. The BetExpress website indicates that players will be contacted by email with instructions on how to access their accounts.

– Over the last two weeks, WSEX players have confirmed that they received $36,696 in payments but nine new payout complaints totaling $17,705 have also been submitted in that span. In total, sixty-two WSEX Sportsbook players have reported that they’re owed $460,462. Here’s the message that WSEX Sportsbook sent to one of the players:

WSEX Sportsbook: Thank you again for your continued understanding, patience and your concerns. They have been noted and taken into consideration with the strategic procedure for completing outstanding request. I am really not ecstatic that I have to ask you to give us some more time. We do appreciate you as a client and would hate to lose someone as committed as you are. I will continue to do everything that I can, working along with the processors to get something out to you as soon as our financial upgrades are completed. This could take a bit longer than a week. I am regretting that I am unable to give you a more concrete date for shipment, but definitely I will have a better idea with every passing week. Do continue to voice your concerns and queries, and I will be very happy to address them with humility and understanding for everything we have put you through.

– Last week BetOnSports players were issued checks to the mail addresses that they registered with FRP Advisory. The letter specified that the enclosed payment must be cashed by September 28th, 2011. The players were sent 4.63% of their balances.

BetOnSports shut down in August of 2006 following the indictment of CEO David Carruthers. The sportsbook terminated all of their employees and ceased their business entirely. BetOnSports players lost many millions of dollars.

BetOnSports PLC was the parent company of over a dozen sportsbooks, BetOnSports held a sportsbook operating license in Antigua but their daily operations were run out of Costa Rica.