BetFred Faces Criticism for Allegedly Withholding Funds22nd April 2020 |
Earlier this year BetFred announced the takeover of MoPlay’s customer database surrounding news of insolvency of the online gambling brand’s former owner, Addison Global. Shortly before this happened, the then-owner of MoPlay had stopped processing its customer withdrawals following the decision of the gambling watchdogs in the UK to revoke its operating licence.
As the insolvency was announced, customers who had funds in their accounts were not able to withdraw deposited or wagered funds. However, after an auction for the customer database of MoPlay was held, a statement issued by Betfred informed MoPlay customers that as new owners of the database they would honour the customer cash balance so that they could withdraw their funds and continue enjoying to play on the platform safely. It was agreed that BetFred would get in contact with the customers registered in the UK or Ireland and provide them with more information about setting up an account with the company’s new owner and accessing the existing balance.
What has BetFred said?
Last week, a spokesperson for BetFred explained that the operator was currently unable to confirm the overall number of accounts that had suffered an issue in migrating from MoPlay to BetFred, while also sharing news that they had successfully migrated around 180,000 customer accounts from MoPlay to its database. The company’s spokesperson further noted that no due diligence on the individuals’ profitability was conducted and also explained that the gambling operator’s actions were in line with the terms of its contract with the liquidator. He further noted that the customers who did not migrate their accounts with MoPlay’s new owner were directed to the liquidator to submit their claims.
The Big Issue
According to reports, approximately 180,000 MoPlay accounts had migrated to the online gambling brand’s new owner since the acquisition. For the time being, the number of the customers who did not make the transition remains largely unknown, while a few individuals who used to be MoPlay customers have approached Justice4Punters, an online community that looks to resolve industry issues. They used this as a platform to complain that their existing funds were not transferred to BetFred despite they had accounts with MoPlay’s new owner. It’s understood that these customers had their accounts restricted, either by MoPlay or BetFred because they were considered unprofitable by the gambling companies.
According to information, one such account had a £27,000 balance with MoPlay but it did not migrate with the online gambling brand’s new owner. Another customer with a balance of £680 has complained that his account with BetFred, which had had an overall profit of approximately £300, was shut by the bookmaker only a couple of days after the announcement of the MoPlay customer list’s acquisition.
Lenny’s Last Word
We’re a fan of BetFred here at SuperLenny HQ and strongly believe that with any takeover, least not one of this magnitude there are inevitably going to be issues. We can’t fathom that anything agreed by BetFred prior to the takeover will be anything other than honoured. One thing is for sure, as rated by you, BetFred is a steadfast industry giant, and one more than capable of handling this inherited magnitude of punters. We’ll be keeping a close eye on this one to see how it unfolds… To find out more about BetFred, check out our review!