Bet365 based in the UK now also active in Australia as a bookmaker – after protest from the Racing and Gambling industries to grant them a license – now denied payout of $73.000 payout on a legitimate bet accepted by the Bookie to a punter called Steve.
He placed mutiple bets for $5000 on grey hound racing and won 5 times the dividend of $14000 for one unit.
But soon after his excitement he got a call from the bet365 bookmaker telling him he still lost his bets because they changed their terms and conditions (Rogue behaviour : retroactively without any prior warning to the players) to limit winnings for exotic bets from 100.000 pounds to 20.000 pounds.
Steve was given all his deposits back and immediately after that his account was closed.
Bet365 commented that it is was uneconomical to them. But with his betting slips he has proof the bookmaker stole money because he placed his bets a month prior the change of T&C’s.
After the Autralian media got attention of his story bet365 offered him $25.000 to settle the matter.
Ofcourse Steve refused and Aussie Gambling Commissions are launching an investigation if bet365 has broken terms and conditions and incorrectly denied the payout.
There can be a lot at stake for bet 365 because their Gambling license for Australia can be revoked for depriving the winning from a customer is a legal violation.
It is alarming that the biggest Sportsbook of the world does not act responsibly and correct T&C’s and grant the punter the winnings.
In the coming months and years this story will be bad PR for BET365. A warning to all players is in place : Bet365 avoid 247 !
This warning should also apply to affiliates who promote bet 365 as this bad precedent shows their true nature : greedy. I will not be surprised that in next months there will be complaints from affiliates that the program is shaving their commissions too.
Here is a link to the video where you can see BET365 is caught in the act of money laundering :
Bet365 after given a call by the news provider never bothered to call back.