Bitcoin Sportsbook Coinbet.cc Folds After Only Four Months

Written by :

Aaron Goldstein

Published on :

28 April, 2014

Coinbet.cc, a bitcoin-only online sportsbook, has closed its doors, leaving customers wondering if they will ever see their winnings.

[SportsBettingOnline.com does accept bitcoin here]

We first caught wind of Coinbet.cc back in January when an advertisement for the company appeared on the Reuters interactive billboard smack in the middle of Time Square.

A notice first appeared on the site over Easter Weekend advising of the closure. Happy Easter everyone!

Customers have since been advised that a liquidation firm was brought on “to ensure proper liquidation of all assets … All outstanding debts and accounts will be paid out in accordance with the arrangement made by Coinbet and the sale of all related assets.”

The website CalvinAyre.com is reporting that monies owed totals around $5 million and that the site closed due to being “undercapitalized”.

- Aaron Goldstein, Gambling911.com

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