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It is still unclear as to how much money the US Feds seized from BetED.com as part of an elaborate sting operation.
BetED.com closed its doors this week after their domain name was taken over by the US Justice Department. The online betting company reportedly told Covers.com that the Feds have all of their money. Most gamblers do not believe this and there are reports that BetED.com’s two founders (both of whom are named in Monday’s indictments) cleaned out their Costa Rican offices and fled.
Covers.com made this pledge regarding BetED.com:
We at Covers.com don't take kindly to having our clients money stolen from them. Hell, it makes us look bad. We recommended those guys to you.
We will do everything in our power to get your money back and in your hands. We are going to ask, beg, talk, whine, shout, whisper, or write to whoever it takes to get that money released to the players.
That is a promise.
Gambling911.com has learned that BetED.com funds are indeed frozen in international bank accounts as part of the sting operation. Whether all of these funds are tied up in these accounts remains debatable.
Players will have the option to file claims with the US Attorney’s Office out of Baltimore, however, it could take months to recover said funds.
Gambling911.com will continue to alert readers of any further developments.
- Christopher Costigan, Gambling911.com Publisher
