Canbet Players Owed At Least Half a Million GBP: Screwed Customers Revolt

SBR Forum, a popular sports betting social media outlet, has recorded a total of 255 customers owed in excess of 500,000 GBP by insolvent Canbet.com, one of the first online sportsbooks to burst onto the scene back in the late 1990’s.

SBR admits to having some dialog with Canbet management as they claim to be looking for new capital.  A failure would result in a huge black eye for the United Kingdom Gaming Commission, which licenses the troubled Australian betting firm.

In a letter sent to customers earlier this month, the directors of Canbet apologised for failing to meet the previous payment promise for the end of January but pledged to sell assets to recoup funds and pay clients’ outstanding account balances, as reported by the Herald Sun.  They have since stopped accepting new deposits while freezing all withdrawals.

Meanwhile, affected customers have threatened legal action against Canbet and its Australian-based directors Peter Lord and Graeme White.  Some have gone as far as to threaten their lives.

Players throughout Europe, Asia and Australia appear to have been affected.  Canbet stopped accepting customers from the US in 2006.

The mainstream media in Australia has taken notice and is looking to conduct an investigative report.

- Jagajeet Chiba, Gambling911.com