IGSG in a Move to Sell Beleaguered Online Casino Australia Betting Site

AU-Based IGSG in a Move to Sell Beleaguered Online Sports Betting Site CanBet 

Melbourne-based online casino Australia Interactive Gaming and Sports Group (IGSG), the company that owns CanBet is currently taking steps to sell the debt-ridden online sports betting site. The move is deemed as the best solution available in order to settle all unprocessed withdrawal requests submitted by displeased CanBet customers. The unpaid claims have reportedly aggregated to over $1 million, which prompted parent-company IGSG in making CanBet's liquidation a top priority. That way, they can ensure and satisfy at the soonest time possible, all payouts due to customers.  .

IGSG suspended CanBet's global operation last December 31, 2013 and subsequently shut down the website in light of its decision to sell the UK-licensed online betting agency. Apparently, the sale is necessary, in order to appease the increasing number of disgruntled customers located not only in Australia but also in the UK, in Canada, in India and in Eastern Europe.

CanBet Australian Director Peter Lord practically admitted that IGSG is not bent on reviving CanBet's global betting operations. The statement refutes CanBet's previous notification that the technical malfunctions suffered by the site were related to system upgrades, as it will soon be “launching a new state of the art sportsbook and mobile gambling platform.”

Although the complaints against CanBet have caught the UK Gambling Commission's attention, the regulatory body has assumed a wait-and-see posture before deciding on the option that would best deal with CanBet's current predicament. Such options include giving the betting site advice or warning, suspending or revoking its license, removing or adding a variation to its license conditions, imposing a hefty fine and even not taking any action at all.