The world sports betting community is watching with a great deal of interest as ACT registered SportsAlive disppears with a lot of people’s money.
Some readers point out that customer funds were supposed to be held in escrow, removed from their day-to-day operations under ACT regulations, however it remains to be seen whether the company was in full compliance of this requirement. A liquidator was appointed to the SportsAlive case on Thursday, August 25th, 2011.
In addition to punters, investors in SportsAlive are believed to be out up to $5 million.