Making the Nut have a lengthy piece on the failings of the ACT Gambling and Racing Commission in regulating the failed ACT licensed gambling website Sports Alive which has disappeared with a lot of people’s money.
Sports Alive was licensed with the ACT Gambling and Racing Commission (GRC). Neither Sports Alive nor the GRC has contacted punters as to the whereabouts of their funds. Sports Alive have shut down their website and phonelines while the GRC are not replying to emails or phone calls. While I can understand that the Sports Alive owners are on their proverbial way to Brazil with suitcases of cash, I am disappointed with the actions of a supposedly reputable Government agency.
Punters are clearly in the dark as to the whereabouts of their funds. These are not just simple betting balances, they are akin to bank accounts, with customers required to provide 100 points of ID along with placing bets on recorded phonelines or encrypted Internet pages and even mobile devices. This is a highly sophisticated industry.
Well worth a read.