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Sports Alive Collapse Probe

Wednesday May 23, 2012 : PROBE ON INTERNET SPORTS BETTING SITE FAILURE CONFIRMED
 
Australia Capital Territory’s Ombudsman confirms investigation into gambling authority
 
The gambling authority of the Australian Capital Territory is under investigation over its role in the multi-million dollar collapse of online betting enterprise Sports Alive last year, says the Canberra Times.
 
The ACT Ombudsman’s office has confirmed that it is looking at 13 complaints by punters left out of pocket and who want to take action against the ACT Gambling and Racing Commission, the newspaper reports.
 
Sports Alive, which was registered in the ACT, but operated from Melbourne, crashed owing more than A$10 million, including about A$327,000 to the ACT Revenue office.
 
The liquidators of the failed company say that A$3.9 million is still owing to more than 18,000 punters and the Ombudsman has been under pressure to investigate after allegations that the Gambling and Racing Commission failed in its duty to regulate the bookmaker properly.
 
The Commission has consistently claimed that it met its obligations and responsibilities in regulating the activities of Sports Alive, but punters have accused the regulatory body of failing to ensure Sports Alive maintained segregated bank accounts of betting monies, which is required by legislation.
 
Despite monthly audits claimed by the regulator, financial documents show Sports Alive was sinking into insolvency for almost three years before its eventual collapse.
 
The ACT Ombudsman’s office said it would not divulge the scope of the inquiry or its likely duration.
 
“Ombudsman investigations are conducted in private, so we will not comment on these questions,” the spokeswoman said.

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Gambling News :

Local Florida Poker Pros Scam Marc Klang For $500k - Previous scumbag rightfully wins over $500,000 gambling against a conglomerate of local poker pros. After using every excuse possible, said group decides they are not paying out any money. After some time they pay out $43k of 500k. Winner warns community of the groups actions to prevent similar future scams.

2017 Super High Roller Bowl Schedule - Poker Central, POKER PROductions and the Aria Resort & Casino have released details on the 2017 Super High Roller Bowl taking place 28-31 May.

Super Multitimes Progressive HD Slot - This 3-row, 5-reel slot features Multipliers, Wilds, Free Spins and four Progressive Jackpot levels offering increasing wins to heighten player engagement.

2017 Aussie Milliona Updates Events 2,3,4 - Taiwan's James Chen bested Australian Rainer Quel heads up to win the first championship ring of the series in which he defeated a field of 48 players in Event 2: $2,500 H.O.R.S.E. earning the top prize of AUD$39,700.

Juventus name VWin as Partner - “We are very satisfied with this new regional partnership that confirms Juventus’ global growth in high potential markets such as this one,” Giorgio Ricci, co-chief revenue officer & head of global partnerships and global revenue for Juventus said.

Luckia Group 2016 Results - The group reports record turnover of Euro 269.66 million, up 12 percent over full year 2015 with EBITDA standing at Euro 44 million, a 26 percent increase over the previous year.

Fire Rooster Slot Launches - This 5-reel, graphic-rich slot is based on the Chinese legend, The Rooster’s Lament, in which the Jade Emperor chooses specific animals to represent the months of the year.

n2-Live Updates - The company promises new features designed to enhance the playing experience that “further distance our gaming solutions from the ‘me too’ products currently available in the market place.”

Betfred FY 2016 - Betfred has seemingly reversed its fortunes with a strong 2016 delivering a GBP 28,438,000 operating profit as opposed to the GBP 77,312,000 loss in fiscal year 2015.

BetConstruct has joined the National Council on Problem Gambling - BetConstruct has joined the National Council on Problem Gambling (NCPG) saying it feels a duty to support an organization that strives to keep gaming fun and safe for all.

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