Sportsalive, Bet24/7 Ceased Operations

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  • chance
    SBR Wise Guy
    • 06-16-08
    • 682

    #1
    Sportsalive, Bet24/7 Ceased Operations
    Both of these sites have been down for a couple of days. I then went to BetFair Aus Multis which uses Sportsalive and I read below what the story is. It is a shame Sportslaive could not have sent an email. This concerns me about customer funds and pending bets. Lets hope the closure is handled correctly.

    Site Announcement

    Betfair wishes to advise you that Sports Alive, the provider of Betfair's Aus Multis Product, has ceased operating its bookmaking operations and subsequently we are unable to offer Aus Multis until further notice. All Betfair customer funds are protected and remain available.

    In respect of outstanding bets placed via Aus Multis, whilst those bets are between Sports Alive and our customers, as a goodwill gesture Betfair will guarantee the payout of winning bets to our customers. Please note it may take us additional time to settle winning bets due to Sports Alive's automated systems having been shut down.

    We understand that this will impact the betting habits of customers and wish to apologise for the inconvenience. Betfair is committed to offering Aus Multis to our customers and we will endeavour to have the product available as soon as possible
  • Jontheman
    SBR High Roller
    • 09-09-08
    • 139

    #2
    Might not be good news; (link thanks to NOYB on another forum)

    Comment
    • Hareeba!
      BARRELED IN @ SBR!
      • 07-01-06
      • 36747

      #3
      I was assured yesterday that Bet247 is not in receivership and is still in business but it may take a little while for them to get their new website up and running. Unlike SportsAlive, they are answering the phone.
      Comment
      • potless
        SBR High Roller
        • 12-02-08
        • 145

        #4
        you promised it would be back by now
        I'd hate people to think you are a hopeless idiot who posts any old shite

        ps look forward to your apology to brettels
        Comment
        • chance
          SBR Wise Guy
          • 06-16-08
          • 682

          #5
          I am pleased I did a wthdrawal for my 5 figure balance before leaving for the SBR Bash. I am not sure whether I had any pending future bets on the Rugby World Cup though.

          I hope bet 24/7 survives. The only hope for Sportsalive is a bail out by The Tote.
          Comment
          • Hareeba!
            BARRELED IN @ SBR!
            • 07-01-06
            • 36747

            #6
            Originally posted by potless
            you promised it would be back by now
            I'd hate people to think you are a hopeless idiot who posts any old shite

            ps look forward to your apology to brettels
            SHOW ME WHERE I MADE ANY PROMISES

            It is Brettels who owes me an apology if you were at all capable of reading the statements made in that thread
            Comment
            • potless
              SBR High Roller
              • 12-02-08
              • 145

              #7
              Originally posted by Hareeba!
              SHOW ME WHERE I MADE ANY PROMISES

              It is Brettels who owes me an apology if you were at all capable of reading the statements made in that thread
              Originally posted by Hareeba!
              Bet247 is owned quite separately to SportsAlive and they are still in business. Their website is expected to be up and running by tomorrow if not later today.
              It would be nice if you made your mind up for once and stopped posting contradictory/baseless garbage

              Comment
              • Hareeba!
                BARRELED IN @ SBR!
                • 07-01-06
                • 36747

                #8
                Originally posted by potless
                It would be nice if you made your mind up for once and stopped posting contradictory/baseless garbage

                I can only conclude that potless = clueless

                Nothing there at all which amounts to a promise.
                Nothing baseless or garbage. It is what I was told and have no reason at all to doubt.
                Furthermore there is nothing there which is contradictory.
                Comment
                • potless
                  SBR High Roller
                  • 12-02-08
                  • 145

                  #9
                  Excellent - I still look forward to the site being up and running.
                  (which you don't doubt but weren't promising but have no reason to disbelieve which isn't baseless
                  )

                  Comment
                  • noyb
                    SBR Wise Guy
                    • 09-13-05
                    • 971

                    #10
                    Originally posted by chance
                    The only hope for Sportsalive is a bail out by The Tote.
                    this thought did flash into my mind as well. Sportsalive was supposed to have all customers funds ringfenced from their day-to-day operations, under ACT regulations, on top of that 250k security bond. I somehow doubt whether they actually did this, else they would have been able to fight off any liquidation claims by third parties and could have just ceased trading voluntarily (like Lasseters did), and get back the 250k bond.
                    assuming they didn't have (all / any) customer funds ringfenced and were probably trading while insolvent, that's pretty serious fraud. on top of that the article in the paper suggests they were making millions in the years before this, and now suddenly have gone bust. that's pretty strange to say the least. this isn't some costa rican fly-by operation, but these guys were supposed to be pretty well regulated. for a reputable organization like the Tote, who were 25% Sportsalive owners, to be caught up in a possible fraud-like case sounds pretty embarassing to them. so, let's hope they act on that.. anyway, a lot of assumptions, let's see how it turns out. i would find it extremely disappointing if the what i always regarded as the best gambling regulated country in the world would simply do nothing while sportsalive **** over all punters that are owed.
                    Comment
                    • noyb
                      SBR Wise Guy
                      • 09-13-05
                      • 971

                      #11
                      Comment
                      • chance
                        SBR Wise Guy
                        • 06-16-08
                        • 682

                        #12
                        We want find out what the story is for a long time if the 25% shareholder can't get any answers as per the article above.
                        Comment
                        • boar
                          SBR Rookie
                          • 01-12-10
                          • 14

                          #13
                          Regulation in the ACT was always extremely strict (15 to 11 years ago)
                          to such a degree that the segregated client account was monitored by
                          the regulators. The regulations are still in place and are extremely strict :

                          4.5 Subject to Clause 4.6 a sports bookmaker must deposit all monies
                          received: (1) into the segregated bank acct; or (2) if there are 2 or more
                          such accounts - into 1 of those accounts;

                          not later than the next banking day after the day on which the money is
                          received.

                          4.6 Where betting monies are paid by direct debit or electronic transfer
                          into an account operated by the sports bookmaker, the sports bookmaker
                          must transfer that money into a segregated bank account with in accordance
                          with clause 4.5.

                          Somewhere over time the ACT govt regulators have dropped their guard
                          and not monitored the bookmakers compliance with their regulations.

                          Having had firsthand experience of dealing with ACT regulators I find
                          the whole scenario mystifying.
                          Comment
                          • noyb
                            SBR Wise Guy
                            • 09-13-05
                            • 971

                            #14
                            bet247 customers get a bail out by Tom Waterhouse apparently

                            Dear Valued Client,

                            Bet247 is currently unavailable. Your account balance and any pending bets will be honoured.
                            Bet247 clients are in the process of being transferred to www.tomwaterhouse.com.

                            Your account details, account balance and any outstanding bets will be transferred.
                            Your account will be live and ready for betting at tomwaterhouse.com by Wednesday's racing August 31, 2011 if not sooner.

                            My family and I have over 112 years of betting history and I look forward to servicing you as a client and exceeding all of your betting needs.
                            We will be keeping all clients abreast of the transition via email.

                            I apologise for the inconvenience of you not being able to place your bets at this time.

                            Should you have any questions kindly email my Client Service team on web@tomwaterhouse.com.

                            Regards
                            Tom Waterhouse
                            Comment
                            • brettels
                              SBR MVP
                              • 11-04-10
                              • 3376

                              #15
                              There is still not enough evidence for hareeba to know how full of shit he is.
                              Comment
                              • lacoste
                                SBR High Roller
                                • 11-18-09
                                • 203

                                #16
                                OMG , i have had 2.5k @ sportsalive
                                I hope sportsalive cutomers get a bail out too.... if not, goodbye to my money ...
                                Last edited by lacoste; 08-27-11, 05:18 AM.
                                Comment
                                • in play, run(s)
                                  SBR Sharp
                                  • 06-10-09
                                  • 270

                                  #17
                                  Damn, I also had a 4 figure sum in there... and I thought my money was safe. Guess that's it... bunch of crooks
                                  Comment
                                  • Donadon
                                    SBR High Roller
                                    • 04-19-09
                                    • 246

                                    #18
                                    I was paid a high 3 figure sum from bet247 10 days ago after some chasing.

                                    I never thought they are going belly up though
                                    Comment
                                    • boar
                                      SBR Rookie
                                      • 01-12-10
                                      • 14

                                      #19
                                      I would expect clients to receive a very low % of their balances
                                      IF the segregated account wasn't emptied. If the segregated
                                      account wasn't maintained we will be looking at a fraud case
                                      which will seriously embarrass the ACT govt as their employees
                                      were negligent in their duties.

                                      Legally I wonder whether customers would have a case against
                                      the ACT government as their employees appeared not to enforce
                                      their clearly defined policy on segregated accounts.

                                      Bear in mind Canberra is not Costa Rica. License applicants have
                                      to go through a rigorous probity check and regulators do tend to
                                      enforce govt policy.

                                      As someone who was involved in this business in its previous
                                      incarnation, with several friends and former clients with money at Sports
                                      Alive, I feel a great degree of moral responsibilty to put pressure on the parties who,
                                      I believe, are partly responsible for this fiasco.

                                      Please feel free to PM me if you wish to be included in more private updates/discussions
                                      on this matter.
                                      Last edited by boar; 08-27-11, 02:54 PM.
                                      Comment
                                      • potless
                                        SBR High Roller
                                        • 12-02-08
                                        • 145

                                        #20
                                        Oh Hareeeeeeeeba
                                        looks like you were 100% correct as ever
                                        thanks - good job

                                        Comment
                                        • noyb
                                          SBR Wise Guy
                                          • 09-13-05
                                          • 971

                                          #21
                                          boar, your pm is disabled.
                                          Comment
                                          • brettels
                                            SBR MVP
                                            • 11-04-10
                                            • 3376

                                            #22
                                            I would really like to know what hareeba has to say on the subject! seeing as he has been right about everything so far
                                            Comment
                                            • jazzmonkey
                                              SBR High Roller
                                              • 06-27-08
                                              • 130

                                              #23
                                              would be nice if this thread was for info and the bickering kept for the playground...

                                              boar, i would be interested but as noyb says no way of sending a message
                                              Comment
                                              • AimingHigh
                                                SBR Wise Guy
                                                • 06-12-09
                                                • 670

                                                #24
                                                Very relieved that my account is moving to Tom Waterhouse. If anyone knows anything about him/his book, I'd be interested to know.

                                                Sorry for all those Sports Alive customers, who haven't yet been offered a deal similar to that offered to those with Bet247.
                                                Comment
                                                • King_Suckerman
                                                  SBR Wise Guy
                                                  • 04-12-09
                                                  • 945

                                                  #25
                                                  Originally posted by jazzmonkey
                                                  would be nice if this thread was for info and the bickering kept for the playground... boar, i would be interested but as noyb says no way of sending a message
                                                  Well said Sir.
                                                  Comment
                                                  • brettels
                                                    SBR MVP
                                                    • 11-04-10
                                                    • 3376

                                                    #26
                                                    The bickering is simply a case of what goes around comes around. If you saw the other thread about this you'd see why.
                                                    Comment
                                                    • boar
                                                      SBR Rookie
                                                      • 01-12-10
                                                      • 14

                                                      #27
                                                      Apologies - I have enabled messaging on my account.

                                                      Hoping to get an update in the next day or two.
                                                      Comment
                                                      • lacoste
                                                        SBR High Roller
                                                        • 11-18-09
                                                        • 203

                                                        #28
                                                        Hope to get an positive update, boar.
                                                        Comment
                                                        • noyb
                                                          SBR Wise Guy
                                                          • 09-13-05
                                                          • 971

                                                          #29
                                                          Originally posted by boar
                                                          Apologies - I have enabled messaging on my account.

                                                          Hoping to get an update in the next day or two.
                                                          you're still not reachable. probably has something to do with a low nr of posts, not sure how that works on this forum.
                                                          Comment
                                                          • in play, run(s)
                                                            SBR Sharp
                                                            • 06-10-09
                                                            • 270

                                                            #30
                                                            I hope those asslickers from sportsalive are going to pay us...
                                                            Comment
                                                            • Hareeba!
                                                              BARRELED IN @ SBR!
                                                              • 07-01-06
                                                              • 36747

                                                              #31
                                                              Originally posted by potless
                                                              Oh Hareeeeeeeeba
                                                              looks like you were 100% correct as ever
                                                              thanks - good job

                                                              Thanks
                                                              The information I posted was 100% as told to me.
                                                              Bottom line is that, although they will not be relaunching their site, all Bet247 customers will have their balances transferred in full and accessible at Tom Waterhouse's site this week.
                                                              So Brettels' information has been found to be inaccurate.
                                                              Comment
                                                              • Hareeba!
                                                                BARRELED IN @ SBR!
                                                                • 07-01-06
                                                                • 36747

                                                                #32
                                                                Originally posted by brettels
                                                                I would really like to know what hareeba has to say on the subject! seeing as he has been right about everything so far
                                                                Yes. Certainly more so than you.
                                                                Comment
                                                                • brettels
                                                                  SBR MVP
                                                                  • 11-04-10
                                                                  • 3376

                                                                  #33
                                                                  OH MY GOD

                                                                  in this situation i have been right about everything. you hareeba have been wrong. yet you claim you are right. you have some serious mental issues in your own little world in that peanut size brain.

                                                                  communicating with you is like telling a 1 day old baby to walk, and you give the same response the baby would give.

                                                                  Dumb retardation at its finest, i'm done with dumb fools like you now hareeba, every forum has a dip shit and at SBR it is you.

                                                                  geez, I've seen some real fools commenting on forums but Hareeba is the icing on the cake!
                                                                  Comment
                                                                  • Hareeba!
                                                                    BARRELED IN @ SBR!
                                                                    • 07-01-06
                                                                    • 36747

                                                                    #34
                                                                    Originally posted by brettels
                                                                    OH MY GOD

                                                                    in this situation i have been right about everything. you hareeba have been wrong. yet you claim you are right. you have some serious mental issues in your own little world in that peanut size brain.

                                                                    communicating with you is like telling a 1 day old baby to walk, and you give the same response the baby would give.

                                                                    Dumb retardation at its finest, i'm done with dumb fools like you now hareeba, every forum has a dip shit and at SBR it is you.

                                                                    geez, I've seen some real fools commenting on forums but Hareeba is the icing on the cake!
                                                                    For the benefit of those interested in the truth, following is what I posted on Friday:

                                                                    "Bet247 is owned quite separately to SportsAlive and they are still in business. Their website is expected to be up and running by tomorrow if not later today."


                                                                    I made that post in good faith for the benefit of anyone interested based on a discussion I had had with Bet247 that morning. I had and still have no reason to doubt that it was perfectly factual.

                                                                    Bet247 are obviously not in the same boat as Sports Alive which has called in receivers. Punters with money at Sports Alive will have to wait to learn their fate. Punters with money at Bet247 (we are told and I have no reason to doubt) will have access to their money at Tom Waterhouse's site this week.

                                                                    It would seem that Bet247, for whatever reason, subsequently decided against relaunching their website and passed their clients over to Waterhouse.

                                                                    Hindsight can be a wonderful thing can't it?
                                                                    Here we have Brettels telling me I was wrong when I was in fact doing nothing more than passing on information for the benefit of others. I wasn't wrong at all. That was what I was told and make no apologies for having posted it.
                                                                    He himself had no clue but just kept telling me that they are a "white label" and then lying about me having denied that when I made no such statement at all. Bottom line is that punters haven't lost their money as is what he was suggesting.
                                                                    And then we have clueless Potless somehow interpreting my words as amounting to a personal guarantee!!
                                                                    Last edited by Hareeba!; 08-29-11, 01:01 AM.
                                                                    Comment
                                                                    • tommygun
                                                                      SBR MVP
                                                                      • 07-01-10
                                                                      • 2239

                                                                      #35
                                                                      you were fukkin wrong man get a clue
                                                                      BETTING EXCHANGES, easy money.

                                                                      Soccer Tipping: 5-0-1
                                                                      Comment
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