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A Bitcoin-only online sportsbook, BetVIP.com, has closed its doors this week citing financial issues. While the company claims players will receive all funds owed to them, that remains to be seen.
The following notice appeared on the BetVIP.com website
The shareholders of BetVIP have decided to suspend trading of the business as of Friday 12th June. Due to the early nature of Bitcoin sports betting and an increasingly restrictive legal environment, BetVIP was unable to reach a viable revenue in order to make it feasible to continue operating the business going forward.
All withdrawal requests will be honoured and paid. Please lodge your request to info@betvip.com with subject ‘Withdrawal Request’. Please lodge your withdrawal request before 28 of June 2015 and any payments will be authorised at the latest by 30 June 2015.
In recent months, Bitcoin-only sportsbooks have had some degree of difficulty staying afloat as more established companies the likes of Bookmaker, BetOnline and – more recently – BetPhoenix, begin adapting Bitcoin platforms.
- Aaron Goldstein, Gambling911.com
