Canbet and UK Gambling Commission talks continue
UK bookie's deadline to respond to regulator regarding customer payment fears elapses
Discussions between UK-licensed operator Canbet and the Gambling Commission remain ongoing as the regulator seeks assurances over the self-suspended operator’s financial stability.
Canbet last week took the decision to suspend its operations after failing to rectify a “system malfunction” which it said was hampering it from repaying customer funds.
The Commission responded to the cessation of trading by setting the sportsbook operator a 6 January deadline to give assurances it was able to meet its financial obligations and also provide a report detailing the number of customers affected and the sums due.
It also threatened the operator with a review of its current operating licence.
The regulator today (7 January) said it was unable to comment on whether Canbet had been able to provide the information requested, however, Peter Lord, director of Canbet’s Australia-based parent company Interactive Gaming & Sports, told eGaming Review talks between the pair continue.
“We are currently still in discussion with the UK Gambling Commission in resolving our issues and it would be premature to comment at this point in time,” Lord said.
Lord added that he hoped the two parties would be able to come to a position of “clarity on the situation shortly” before making any further comment.
Problems regarding the operator’s payments’ system first surfaced in October when Canbet attributed the issues to “technical problems”.
In December, the operator issued a further statement informing customers they would be paid within a week and blamed an IT error “triggered through bonus bets and free deposit match up bonuses” for the delay in processing the payments.
Update – the Commission this afternoon released the following statement:
“The Gambling Commission has received a number of complaints from customers that have had problems withdrawing funds from Canbet Sports Bookmakers UK Limited, a company licensed by us.
“Canbet suspended its operating activity with regard to taking bets and new deposits from 31 December 2013. At that time the Commission explained some of the steps it was taking and that it would be receiving a progress report by 6 January.
“Since that date we have received a number of further enquiries and can confirm we are continuing to actively engage with Canbet over their efforts to resolve these issues.”