Money is well gone guys.......directors have the lot. Maybe a 50k fine and unable to direct a company for 5 years for all involved. A mere pittance for what has been siphoned off over the last couple of years. Waterhouse stopped all bet backs 3 days before they folded obviously got the heads up.... Directors getting staff to delete all emails, large payments every month for "bills" no records of the transactions. Company was NOT losing money every month. Accepted credit card payments and bets Wednesday. Perfect timing before many futures payouts for AFL and League were about to settle. I could go on all day...sorry guys but it's the awful truth. I have lost plenty but my focus now is exposing the crooks.
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AFLW 2024 - Round 10 - Chat, game threads, injury lists, team lineups and more.
Betting websites
- Thread starter Beauy420
- Start date
- Tagged users None
Doesn't apply to existing customers
It doesn't but they did if for me, so ask I'm sure they'll do the same.
asanque
Premium Platinum
I asked but no response so far.
Might send them another email if that is the case.
One older article I hadn't seen before that has slightly more information.
http://www.smartcompany.com.au/leis...iquidation-as-investors-chase-big-losses.html
asanque
Premium Platinum
Class action time?
['
Commission denies poor form in investigating Sports Alive claims
BY HENRIETTA COOK
01 Sep, 2011 12:00 AM
Punters have accused the ACT Gambling and Racing Commission of being ''grossly negligent'' in its handling of embattled betting shop Sports Alive and are likely to file a class action lawsuit against the government regulator.
But the commission insists it has done its job properly and raised the possibility of fraud being involved in the company's collapse.
Thousands of Australians look set to lose $1.5 million after the collapse of ACT-registered Sports Alive, which was placed into liquidation last Thursday despite returning profits of about $5 million last year.
Punters told The Canberra Times they contacted the commission up to two months ago to raise concerns about the company.
Sydney resident Matt Fisk, who expects to lose $22,000 from the collapse of Sports Alive, phoned the ACT commission a month ago after he was unable to withdraw $17,000 from his account.
''They told me to relax, that the money was in a safe account and everything would be fine,'' he said.
''The ACT Government have failed their duty of care. It seems the gambling and racing commission were happy to collect their cash but do no work.''
Mr Fisk said he was seeking legal advice about whether to pursue a class action lawsuit against the ACT Government.
He said up to 100 hard-done-by punters had shown interest in joining the class action.
But ACT Gambling and Racing Commission chairman Malcolm Gray said while complaints about late payments had been made, these had been investigated and resolved.
''There were various matters but none of these issues were of a magnitude that indicated insolvency,'' he said. ''It's possible the company has been subjected to fraud. If this is so, other regulators including the police and Australian Securities and Investment Commission may be interested.''
A Canberra punter who stands to lose $50,000 said he contacted the commission two months ago when he became aware Sports Alive was writing ''paid'' on unpaid accounts.
He had been barred from withdrawing money from his account, but was allowed to place bets.']
['
Commission denies poor form in investigating Sports Alive claims
BY HENRIETTA COOK
01 Sep, 2011 12:00 AM
Punters have accused the ACT Gambling and Racing Commission of being ''grossly negligent'' in its handling of embattled betting shop Sports Alive and are likely to file a class action lawsuit against the government regulator.
But the commission insists it has done its job properly and raised the possibility of fraud being involved in the company's collapse.
Thousands of Australians look set to lose $1.5 million after the collapse of ACT-registered Sports Alive, which was placed into liquidation last Thursday despite returning profits of about $5 million last year.
Punters told The Canberra Times they contacted the commission up to two months ago to raise concerns about the company.
Sydney resident Matt Fisk, who expects to lose $22,000 from the collapse of Sports Alive, phoned the ACT commission a month ago after he was unable to withdraw $17,000 from his account.
''They told me to relax, that the money was in a safe account and everything would be fine,'' he said.
''The ACT Government have failed their duty of care. It seems the gambling and racing commission were happy to collect their cash but do no work.''
Mr Fisk said he was seeking legal advice about whether to pursue a class action lawsuit against the ACT Government.
He said up to 100 hard-done-by punters had shown interest in joining the class action.
But ACT Gambling and Racing Commission chairman Malcolm Gray said while complaints about late payments had been made, these had been investigated and resolved.
''There were various matters but none of these issues were of a magnitude that indicated insolvency,'' he said. ''It's possible the company has been subjected to fraud. If this is so, other regulators including the police and Australian Securities and Investment Commission may be interested.''
A Canberra punter who stands to lose $50,000 said he contacted the commission two months ago when he became aware Sports Alive was writing ''paid'' on unpaid accounts.
He had been barred from withdrawing money from his account, but was allowed to place bets.']
pmalcolm1984
Debutant
I have three of the Director's addresses and one of their home phone numbers.
Class action time?
['
Commission denies poor form in investigating Sports Alive claims
BY HENRIETTA COOK
01 Sep, 2011 12:00 AM
Punters have accused the ACT Gambling and Racing Commission of being ''grossly negligent'' in its handling of embattled betting shop Sports Alive and are likely to file a class action lawsuit against the government regulator.
But the commission insists it has done its job properly and raised the possibility of fraud being involved in the company's collapse.
Thousands of Australians look set to lose $1.5 million after the collapse of ACT-registered Sports Alive, which was placed into liquidation last Thursday despite returning profits of about $5 million last year.
Punters told The Canberra Times they contacted the commission up to two months ago to raise concerns about the company.
Sydney resident Matt Fisk, who expects to lose $22,000 from the collapse of Sports Alive, phoned the ACT commission a month ago after he was unable to withdraw $17,000 from his account.
''They told me to relax, that the money was in a safe account and everything would be fine,'' he said.
''The ACT Government have failed their duty of care. It seems the gambling and racing commission were happy to collect their cash but do no work.''
Mr Fisk said he was seeking legal advice about whether to pursue a class action lawsuit against the ACT Government.
He said up to 100 hard-done-by punters had shown interest in joining the class action.
But ACT Gambling and Racing Commission chairman Malcolm Gray said while complaints about late payments had been made, these had been investigated and resolved.
''There were various matters but none of these issues were of a magnitude that indicated insolvency,'' he said. ''It's possible the company has been subjected to fraud. If this is so, other regulators including the police and Australian Securities and Investment Commission may be interested.''
A Canberra punter who stands to lose $50,000 said he contacted the commission two months ago when he became aware Sports Alive was writing ''paid'' on unpaid accounts.
He had been barred from withdrawing money from his account, but was allowed to place bets.']
So if we are 'lucky' we are set to have a slice of the $250k that has been set aside to cover $1.5M in losses. If SA Directors are not going to be held responsible then I for one would be more than happpy to hold ACT GRC to account.
Where do I sing up for a class action?
Surely the joke of a regulator the ACT GRC has proven itself to be can afford a lazy $1.5M to cover the losses of the one time faithful punters. If I am going to lose my doe, i'd rather lose it to lawyers to prove Greg Jones and his department are grossly incompetent of regulating bookies registered in their own backyard than just lie down and watch the money we are all entitled to disappear and be okay with it because "what do we expect, Sportsalive was a private company.." afterall.
asanque
Premium Platinum
I'd like to gauge the interest of any affected punters in being involved in a class action against the ACT Gambling and Racing Commission.
I will look to contact Matt Fisk and find out more.
If you are interested, I will ask for more information later, but in the meantime, can you please just leave a brief response in this thread that you are interested.
I will look to contact Matt Fisk and find out more.
If you are interested, I will ask for more information later, but in the meantime, can you please just leave a brief response in this thread that you are interested.
interested
interested but would need more info before I commit
asanque
Premium Platinum
To be honest, I think its a bit of a long shot, but I am happy to dedicate some resources into finding out more if there is sufficient interest.
Rooster Cogburn
Premiership Player
- Dec 16, 2010
- 3,193
- 837
- AFL Club
- Sydney
- Other Teams
- Arsenal
Yeah, I think you're right.
I hope something does happen, but getting a government department to admit negligence? And taking it one step further and getting financial recompense from them? Buckleys unfortunately.
I hope something does happen, but getting a government department to admit negligence? And taking it one step further and getting financial recompense from them? Buckleys unfortunately.
asanque
Premium Platinum
Interestingly enough, I'm up to about 140k in total losses in 30 minutes.
If we get up to at least 500k, I'm sure that it would be enough to at least make a law firm sit up and take interest.
Edit: Check this page for further updates
http://www.makingthenut.com/content/punter-protection-or-lack-thereof-act#comment-363
If we get up to at least 500k, I'm sure that it would be enough to at least make a law firm sit up and take interest.
Edit: Check this page for further updates
http://www.makingthenut.com/content/punter-protection-or-lack-thereof-act#comment-363
pmalcolm1984
Debutant
Add mine in, I'll PM you with amount.
Nothing
Brownlow Medallist
- Jul 30, 2009
- 10,694
- 17,881
- AFL Club
- Fremantle
What's WALOB?
The only advantage that I can see for SA account holders is that with Bet247 being taken out by Tom, there is 1/3 of the money that wont need to be paid out to account holders (from the $250K)
The only advantage that I can see for SA account holders is that with Bet247 being taken out by Tom, there is 1/3 of the money that wont need to be paid out to account holders (from the $250K)
Rooster Cogburn
Premiership Player
- Dec 16, 2010
- 3,193
- 837
- AFL Club
- Sydney
- Other Teams
- Arsenal
What a load of bullshit.
Nothing
Brownlow Medallist
- Jul 30, 2009
- 10,694
- 17,881
- AFL Club
- Fremantle
Ah. Yes WALOB indeed.
asanque
Premium Platinum
Worst news we could get.
Even bigger losses than I expected.
What happened to the audit in June?
No mention of any funds in segregated bank accounts?
Even bigger losses than I expected.
What happened to the audit in June?
No mention of any funds in segregated bank accounts?
- May 5, 2011
- 2,143
- 2,133
- AFL Club
- Brisbane Lions
Incredibly annoyed at Daffy's tweet that he is "hoping for a just outcome for punters."
You piece of absolute sh1t. The company you were managing wasn't paying withdrawls for months, and you were still spruiking AFL action two days before the company was liquidation.
I'm sure the only thing he is "hoping" for is to avoid jail time for insolvent trading/fraud.
You piece of absolute sh1t. The company you were managing wasn't paying withdrawls for months, and you were still spruiking AFL action two days before the company was liquidation.
I'm sure the only thing he is "hoping" for is to avoid jail time for insolvent trading/fraud.
Sports Alive bad
Draftee
G'day guys, I have only just joined up to this website today, but I have been reading through this thread attentitively over the past couple of weeks. I too have been smashed around financially by this collapse and am obviously very disgruntled by it. (By the way, someone mentioned the Kiwi bloke L... W... - indeed, I'd like to have a hearty discussion with that young fellow, after being reassured at length in the fortnight before the liquidators went in). The salt in the wound has undoubtedly been the unhelpful manner with which ACT Gambling and Racing have handled the period leading up to - and since - the collapse. The chances of the punter getting ANY money back at all now look 1,000,000-1 (with a concession!). It will be interesting to see in time whether ACT Gambling and Racing's duty of care to the punting community has been adequately observed. I would love to know what REALLY happened and how the Sports Alive team managed to make such a mess of themselves.
Brave Sir Robin
Cancelled
- Jun 27, 2008
- 4,277
- 4,985
- AFL Club
- West Coast
You're half right. He won't go to jail because he was the betting manager, not the corporate director. Some people don't seem to understand the difference.
It's easy to sling emotional epithets at him because he was the face of the business, as opposed to the real figures responsible who most people wouldn't recognise from a bar of soap.
Tempers are flying, understandably, because a lot of people have lost a lot of money through no fault of their own, but you need to get your facts straight - misdirected claims of culpability aren't going to get anything back.
