We have received many phone calls, emails and chats regarding BetRevolution. Players are complaining that they have requested a payout, usually the maximum available via Western Union or MoneyGram, and have not received it. About ten days ago the BetRevolution phone number rang to voicemail or sometimes did not go through. Recently, even chat has been spotty with them.
OSGA had BetRevolution listed as a Premier outfit on our Complete Sportsbook List. Since their inception in 2009 we have had but one or two complaints of any kind on them in more than four years. They are a smaller outfit, with lower limits, and with no complaints it seemed like the right place to have them listed. The place does real customer service and has a very slick, easy to use website that receives nothing but compliments from players. To us, this sudden avalanche of payout complaints and subsequent rumblings that they are going to close are both alarming and a bit out-of-place.
Since they were initially very tight-lipped about what was going on with player payouts and their phones lines, we too were getting dismayed that they were going to run and stiff all players. Over the weekend we removed their Premier rating. We have been in contact with BetRevolution recently, speaking to them on the phone and via email.
This week we did get to the bottom of what is going on with BetRevolution.
BetRevolution was affected by two, well known, processors shutting down while holding funds that were already allocated for distribution to players. This is not uncommon in the online gambling industry, where most of these money-moving companies operate in the shadows in efforts to evade U.S. law. Every book that services U.S. customers has had a processor steal funds from them at one point since the passage of the UIGEA in 2006. The difference is that most books can a) absorb the hit of having money earmarked for players stolen and b) have additional processors in place, ready to go, when inevitably some processing company decides to run with the books' funds. Apparently, BetRevolution has neither. In addition, getting burned by two processors leaves them limited means to send money out right now anyway.
This has been a perfect storm for the growing Internet chatter that BetRevolution is going under. They have had ongoing problems with their phone system, which were increasingly affected by the volume of calls regarding slow payouts. In addition, we were told at this point many calls are not being answered and some phone numbers are being rejected due to the "aggressive" and threatening nature of many callers.
In a note from them today, BetRevolution stated, "Operations wise the Revolution will continue thanks to its alternative services, but traditional payouts will be stopped or slowed down until things can be restored to a proper level."
This could be a stall tactic from them while they gather to run, but there is no precedent for that with BetRevolution. This book has had a very strong track record in their four-plus years of existence, while communicating with their customers with quick, honest responses. They have always been straight up with OSGA as well, so we would like to believe this latest revelation from company management and see this more as a BIG bump in-the-road. We also understand that they have extended their licensing and software contracts to run until next summer. Still, we also have a wait-and-see approach as they try to recover from this tailspin that they are in.
We hope BetRevolution recovers fully (and quickly) and thus urge players to show a bit of restraint.
We are still in contact with BetRevolution and expect to post updates in the coming days as they try to right their ship.
To get updates on this BetRevolution situation, email us your name, BetRevolution account number and current balance. You will receive updates as we get them and be added into our database should a bailout become necessary.