Sports Bettors Fear the Worst as BetIslands Payout Issues Mount

Sports bettors were on edge following reports that tiny BetIslands.com may be on its way to shutting down.

Unlike a number of high volume online gambling companies that have experienced legitimate payment processing issues due to US restrictions over the years, BetIsland’s problems appear to go beyond just processing (though this is the excuse company reps have been using in recent weeks).

SBRForum.com, a website that monitors the online sports betting world, abruptly removed the BetIslands.com banner from their site late Monday night amidst mounting complaints.   

And then there was this:

Originally Posted by wtt0315

ok guys i am going put this out there because i am so upset. I just lost quite a bit of money. I am not going mention names as i promised to protect his identity. Believe me or not i dont care but as you know i am a huge supporter of this book and have no reason to lie. I got a call tonight telling me basically noone is getting paid. Basically jon or sslp as some of you know him (yes thats him) was never in charge but merely a marketing person or a front man for this book. He was also stealing money off the top. They have some big sharp betters that jon was getting percentages or deposits also. Jon lost his financial backing a few weeks ago and was scrambling to get new one but never could. I guess thats when he decided to get as many deposits as he could and skip town and go into hiding which is why you dont see him anymore. As most know he is a cocaine addict. A manager at betislands today which is not hard to figure out who told everyone they could leave or work for free for now on and they were suppose to try to take dpeosits and keep telling people they are having processor issues and delaying payouts. A lot of the staff did not want to do this so they left. Sbr knew about this a week or so ago but didnt want to comment until they could find out legal info, but i think because they were still getting that 20 percent bonus from our deposits. I am sorry sbr but i am pissed at hell at you and you should be ashamed. Anyways, There processors had over a million dollars and its all gone with jon. the processors cant pay out anything without jons approval anyway which they cant get because he isnt there. Ryan is basically covering for jon. He doesnt talk to him he is just saying this over and over. He told me they might pay out a very small amount but dont hold your breath. He said they did pay out 3 or 4 people last week but that was it. I dont know what else to say guys but i am sorry for everyone that had money there. I hope a miracle comes and we all get paid but its not going happen i am afraid. I feel like an complete idiot because i always backed this book 100 percent.

Needless-to-say, Gambling911.com recommends exercising caution here until which time this situation resolves itself….assuming it ever will. 

- Jagajeet Chiba, Gambling911.com