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Various industry sources are telling Gambling911.com that long established Jazz Sports appears to be knocking on death's door and it is no longer a matter of if, but when this will occur. The time appears to be now as a number of customers report an inability to request payouts.
BetBuckeyeSports.com appears to be in the process of taking over the Jazz Sports Pay Per Head business, which is still believed to be quite lucrative.
A Pay Per Head provides all the services of a sportsbook and charges bookies and agents a small weekly fee per active customer. Some charge a weekly fee for customers even when they do not place a wager in any given week.
Heritage Sports, we are being told, is mulling over the acquisition of Jazz Sports post up business. Post ups consist of a player base whereby customers make an initial deposit and place bets from said deposit as opposed to a credit business where customers settle up without having to fund upfront.
The founder of Jazz Sports, known as "Mike" relayed his side of what transpired exclusively to Gambling911.com this week.
"The deal was for 20million affective August 15th 2024 of which I was to receive 6.5 (of that) upfront and the rest over three years," he tells Gambling911.com "Instead, I agreed to giving them back 5m to cover ALL player balances including the 'sharp' guys. In exchange, I would work with the company for three years and manage the lines and credit business while I was paid out the remainder of my money.
"This is all documented in emails including the player balances which included all players...nothing was hidden."
Instead, Mike was shown the door, then, according to him, kidnapped.
The gentleman who assumed Jazz Sports operation, known as "Lou", was a previous executive of the now defunct BetOnSports, and later helped run MyBookie.ag.
Lou laughed off the notion that Mike had ever been kidnapped.
"Mike would never show up at the office and he turned out to be useless so we got rid of him," Lou told us at the time he assumed the day-to-day operations of Jazz Sports.
But former employees of Jazz Sports with knowledge of what transpired insist Mike is being truthful.
"I can assure you that Mike got scammed by this guy 'Lou', which his real name is Robert, former operations manager of Mybookie," this former employee tells Gambling911.
"But Robert is just the face, the real 'owner' of Jazz is related to Heritage, his name is M******, he goes by MO. Mauricio assisted by Sol Quiros (Processing Manager from Jazz) and Johanna Rios (Accounting Manager from Jazz) elaborated a plan to let go Jazz employees and did not pay us our severance."
This employee has email communications for verification.
While a number of sources have referenced Buckeye Sports as taking over the PPH business, this is the first time long established Heritage Sports has been introduced into the conversation pertaining to Jazz Sports. Heritage is a well regarded sportsbook with its lineage tracing back to the early Pinnacle Sports days (pre-2000).
Gambling911.com has not yet been able to independently verify Heritage Sports role, if any, in taking control of some portions of Jazz Sports business or whether they intend to offer bailout options to some affected customers.
To Be Continued...
- Chris Costigan, Gambling911.com Publisher
