..

BetED.com Shuts Down, Claims US Government has all Players Funds

Written by:
C Costigan
Published on:
May/25/2011
BetED.com Shuts Down

BetED.com has confirmed to Covers.com that they have shut down their business. 

betEd is out of business. Period. There will be no alternate site launched. They came to this conclusion upon the recommendation of their lawyers.

And to top it off... the American authorities have seized ALL of the players money. There is no middle ground here. The money is gone until the authorities decide to give it back.

And before you blame betEd for this and make accusations that they have cut and run with the money, it is not so. Yes, they have cut, and maybe they plan to run, but they have no money. They are victims too. In fact, they are currently liquidating their personal assets to fund the lawyers fees they will soon be needing. I am sure nobody is interested in hearing about their problems right now, but I thought I would mention it before the rumors start.

This sucks. No doubt about it.

If you are owed money from betEd, your best avenue right now is to immediately contact your Congressman and tell him that the American government stole you money. Because that is what happened.

I have been told to also mention that Covers will make an official announcement about this situation shortly.

Gambling911.com will look into whatever remedies might be available to affected players.

US Feds working out of Baltimore set up a phony payment processing company and seized funds from BetED.com, however, it is not immediately clear how much money was actually seized as BetED claims all of it. 

- Christopher Costigan, Gambling911.com Publisher

Gambling News

Westminster Dog Show Betting Odds 2021

Westminster Dog Show Odds 2021

Athletes and celebrities will take a back seat to canines this weekend as the 2021 edition of the Westminster Kennel Club Dog Show begins Friday.

Claressa Shields MMA Debut Odds and UFC 263 Props

Claressa Shields MMA Debut Odds and UFC 263 Props

Claressa Shields, the best pound-for-pound female boxer in the world, steps into the Octagon tonight for her mixed martial arts debut.

YouTubers vs. TikTokers Boxing Odds - Bryce Hall Big Underdog

YouTubers vs. TikTokers Battle of the Platforms Boxing Odds - Bryce Hall Big Underdog

One of the biggest events on the social media calendar goes down Saturday night as YouTube influencers square off with TikTok influencers in a boxing spectacle being called the "Battle of the Platforms."

Becoming a Bookie Where to Start

Becoming a Bookie Where to Start

The increase in popularity and decrease in the stigma associated with sports betting have put the industry more into the mainstream. Sports leagues, reversing decades of keeping gambling organizations at arm’s length, have embraced the practice, going as far as establishing formal agreements. 

Washington State Panel Approves Sports Betting; Sends to Governor

The Washington State Gambling Commission on Thursday approved amendments to gambling compacts for 15 Native American tribes that are a major step to allowing those tribes to offer sports betting at their casinos.

Syndicate