Canbet, an online betting provider, is in hot water after being accused of cheating players out of money. Players feel duped, but the company insists that the issue is an IT glitch. For the past few months, players around the world have experienced difficulty withdrawing their winnings from Canbet. Players have been chasing their money, and ABC news states that the total amount missing is $1 million.
While Canbet is licensed by the UK Gambling Commission, it parent company is based in Melbourne. The betting firm provides services to players around the world, including in the United Kingdom, Canada, India and many countries across Europe. Rumour has it that the operator is attempting to pocket players’ money, but Canbet claims that an IT glitch is responsible for the issue.
Players were offered a generous bonus that matched their deposits but when the attempted to withdraw their cash, the money was withheld. According to Canbet Director Peter Lord, the bonus was automated and had caused an error that has prevented players from cashing out. "There was human error of some sort – either in devising a scheme that was too generous or in the site wrongly allowing bonus reloads,” says Mr Lord.
However, players are not convinced. Many punters have given up hope that they will ever see their money again. There are some players who are waiting to withdraw several thousand dollars from the site. According to Canbet’s website, all unsettled transactions ‘will be honoured’ – but there is no telling when this will happen. Hopefully, the situation will play out like Full Tilt Poker’s cashout debacle.
While it took some time for the issue to be settled, players are finally receiving their winnings. At the moment, Canbet’s website is offline. The owners of the site have no plans to relaunch, but they have vowed to repay players.
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