Monday May 11,2015 : HANGE OF HEART AT BETMAYOR? (Update)
$51,000 owed to player to be paid after all….but why the onerous conditions?
After weeks of anxiety and stress an online sports punter owed $51,000 by Costa Rica-based online sportsbook BetMayor may finally be about to be paid….but not for at least another sixty days.
Our readers will recall that the punter's winnings were confiscated by the sportsbook management, allegedly because he was a "professional player".
This week the publication Sports Book Review, which had earlier blacklisted Betmayor, was told by management that it has decided to pay the gambler, but that he would be transferred to another sportsbook – Globalbet – and there would be an additional waiting period of sixty days due to an imminent corporate takeover.
That would seem to confirm earlier industry rumours that a company titled Media-Tech was in the process of acquiring Betmayor and two other online sportsbooks
Why that should prevent the current ownership meeting its obligations to the player is not clear, unless the company is in financial trouble and paying off its debts was part of the acquisition deal.
Either way, the player is once again left unpaid and in the middle….worrying whether he will eventually receive his due.
By delaying the pay-out for three months, the operator could also be deploying a not infrequently used tactic of tempting the punter into gambling away the winnings whilst he waits.
In the meantime, Sports Book Review has correctly decided to keep Betmayor on its blacklist and monitor the company's next moves in the interest of player safety.
Betmayor is not the only Costa Rica sportsbook in trouble, it appears from the SBR account; Globalbet has allegedly owed another sports bettor $40,000 for the past several months, and despite assurances that he would be paid there has been no movement.
In the latest contact with SBR, a Globalbet manager said that GlobalBet was one of the ‘3 high-end sportsbooks' that are the subject of a takeover….. by Panamanian-registered Media-Tech.
If Globalbet and Betmayor are two of these companies, what is the third….and is it also showing classic signs of financial instability?
The Globalbet player has reportedly been presented with a fait accompli, according to another sportsbook-oriented publication, OSGA. He has been told that his positive balance will be transferred to Betmayor, that he will have to rollover this amount at the new venue….and that he will have to wait a month whilst the takeover is completed!
Confusing the issue even more, there are Betmayor player reports that they are being referred to Globalbet….and Globalbet player reports that they are being referred to Betmayor.
OSGA did some independent checking and reports that it has been unable to find any Panamanian M&A company called Media-Tech or evidence of any acquisition deal involving three sportsbooks. There was a website using the title, but emails to the company bounced and the phone number listed on the website did not answer.
That raises suspicion that a major scam by Globalbet and Betmayor may be in progress against big-winning punters.
If there is a Media-Tech acquisition in motion and involving these sportsbooks, it is important for the acquiring company's own reputation that the company clarifies the situation directly with a public statement.
In the meantime, the notoriety of Betmayor and Globalbet is becoming more widely publicised, and players warned that they may be at risk if they deposit with these companies.