Isle of Man bitcoin

Isle of Man investigates betting operators

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Gambling Supervision Commission – regulatory body of Isle of Man investigates betting operators for suspicious failed operations with their clients. The commission informed that its investigation’s conclusions would be revealed and available to all relevant parties.  GSC may also make recommendations in order for the player issue to be resolved.

Gambling Supervision Commission announced that it is investigating four national sportsbetting brands: 12Bet, Fun88.co.uk, TLC Bet and 138.com. The investigation is the result of e-mails revealed by players and proving that their financial transactions were unfairly disallowed and that some of the accounts were erased by TGP brands.

The websites’ notifications suggested that they have abused the promotion systems connected with Cheltenham Festival – a British traditional horse-racing event. The gaming regulatory authorities rejected the company’ versions of the undone transactions and the shutting down of accounts. Thus, they made the decision due to which Isle of Man investigates betting operators.

Isle of Man’s regulator:

“When we become aware of a complaint about fairness we gather information from customers and from the licensee. We then examine the information and form a conclusion. This two-stage process can take some time. Conclusions are shared with the relevant parties and any party may challenge the conclusion. Once that process is complete, the GSC makes a recommendation to resolve the issue”.

Three of the suspected brands, 12Bet, Fun88 and TLC Bet have reported that they are to pay the winnings they owed, check the situation of every client and present a complete report from operator and licensee TGP Holdings. When it comes to 138.com, the operations must be reviewed with its licensee, Xela Holdings.

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This week the Isle of Man police instructed TGP customers to lodge complaints against the operator at www.actionfraud.police.uk . The police has noted that it has contacted TGP Holdings’ governance due to the allegations of non-payment on Cheltenham winnings.

Since last weekend, TGP has allowed a number of customers to get access to their accounts. Garth Kimber Chief Executive of TGP Holdings states that his company had acted in line with its “regulator approved procedures and terms and conditions”.

Isle of Man investigates betting operators was last modified: April 8th, 2016 by CasinoNews.Today
Source: SBC News