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Canbet has surrended its UK Gambling Commission licence

But did Canbet choose this course to avolid inevitable revocation by the Gambling Commission.
The news this week that Australian online sports betting company Canbet has surrended its UK Gambling Commission license has sparked speculation that the directors took this action to avoid the indignity of have the licence pulled by the Commission.
The Canbet story is a long and unhappy one for players, with allegations that the company is unable to meet its payment obligations of around $2 million and has closed its doors, leaving a reportedly large number of punters across the world out of pocket due insufficient protection of player funds.
The apparent failure followed a depressingly familiar pattern starting late last year - the company initially cited software problems as the cause for its slow and no pay practice. Then communications were ignored, and soon players were accusing the company of bad and dishonest conduct, and lodging complaints with the UK Gambling Commission, where the company was licensed.
Other tried to resort to parent company Interactive Gaming and Sports Group in Melbourne, but these did not meet with success.
In January this year Canmbet director Peter Lord told the Australian Broadcasting Corporation that the company was working on a solution to pay its gamblers, but that too appeared to fail.
Fast forward to mid-April, and the UK Gambling Commission was still grappling with the problem. The regulator announced that Canbet had failed to raise additional funding and was therefore obliged to consider a sell-off of assets in order to pay a growing list of creditors.
On May 7 the Commission announced that Canbet had handed in its licence....but the fate of the company, its parent and its players is not yet clear.
Canbet management has additionally been accused of taking unauthorised wagers on a range of sports including horse racing, across three states in Australia, with Racing Victoria and Racing Queensland confirming that the company was not approved to place bets on racing in their states.

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Quickfire live on Strendus - Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.

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Microgaming has donated £30,000 between four charities - Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.

Entertainment Betting Odds: 90th Academy Awards - The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.

New era of poker in Baltics with The Kings of Tallinn - The Main Event at the festival has already attracted big names like Juha Helppi and Kimmo Kurko. These two are Finlandís all-time poker tournament winners.

Fair Play Bets and QuickFire in Deal - Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.

Cavaliers Aim to Take Down Wizards on 2/22/18 - The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.

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