Tom Waterhouse sued by Bet247 over Sports Alive rescue
Article over on Calvin Ayre which might be of interest to anyone that had money in Sports Alive / Bet247 when they went bust - apparently Tom Waterhouse failed to properly pay back clients that were taken on from the failed bookies so Bet 247 are suing him over it.
I can't work out from reading the article whether that means that we as punters should have been given more back than we actually were (I know personally I had money in Sports Alive when they went bust, but only got a proportion of that balance back when Tom Waterhouse took over the account)...
Bet247 Sues Tom Waterhouse Over Sports Alive Rescue | Gambling News : Online Gambling News
Australian bookie Tom Waterhouse has been sued by white label operator Bet247 over Tom’s role in the 2011 rescue of Bet247 clients following the failure of Bet247′s wagering services provider Sports Alive. The Melbourne-based, Australian Capital Territory-licensed Sports Alive went belly-up two years ago, leaving 18k punters out $3.9m in deposits. A post-mortem by auditors revealed Sports Alive had failed to segregate player funds from its operating capital, and had in fact been effectively insolvent for years prior to the collapse. As part of the company’s liquidation, Bet247 agreed to transfer 8,267 betting clients to Waterhouse’s company, which promised to honor those customers’ existing balances.
In the suit filed on Monday in the state of Victoria’s Supreme Court, Bet247 alleges that Waterhouse has breached the terms of that 2011 agreement, including the obligation to continue distributing profit shares on Bet247′s former clients until December 2015. Bet247 claims not to have received any such profit sharing between January and June 2013. Bet247 further alleges that Waterhouse miscalculated Bet247 players’ starting balances and wrongfully deducted amounts described as goods and services tax (GST). Bet247 claims the total amount it’s been deprived of between August 2011 and December 2012 comes to $247,979, and Bet247 is also seeking interest on that amount plus the unpaid profit shares from this year.
It’s not been a great week for the Waterhouse clan, as Racing NSW stewards just finished slapping Tom’s mom Gai with a $2k fine on Tuesday for her role in the ‘More Joyous affair.’ Come to think of it, it’s not been a great year, what with Tom’s promotional appearances during National Rugby League television broadcasts prompting state and national governments to institute sweeping industry-wide prohibitions on live odds promotion. Frankly, the rumored acquisition of Waterhouse’s operations by UK bookies William Hill better wrap up soon, before Ralph Topping discovers that Tom once shot a man in Reno just to watch him die.
Email from them today, WillHill have taken them over:
"Exciting news - we have joined the William Hill family.
William Hill are the biggest and most highly regarded bookmakers in the world.
What does this mean for you? Everything will carry on as normal - you will still be betting with me. And you will see your betting experience improve in the coming months. We will be looking to continually enhance our product offering and provide innovative betting options to our clients.
In addition to having more markets to bet on and better prices for events around the world, we will continue to provide all of our clients with the same market-leading personalised service.
My goal continues to be to give you the best possible betting experience and my team and I look forward to hearing from you if you have any queries.
All the best for the Footy Finals and Spring Carnival,"
Have a plan and stick to it
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