Reference is made to the notification of the sale of Betworks Pty Ltd.
Please be aware that as a result of the sale agreement executed over
recent days, Betworks Pty Ltd has been sold by Euraust Ltd.
As a result of the sale agreement, the new owners have reviewed the
direction and product focus of Betworks and it is understood that there
will be a change to the focus of the business toward US horse racing
rather than sport.
Therefore, arrangements are being made to close the fixed odd sports
wagering component of the business including the return or transfer of
customer funds.
In respect of funds held on behalf of customers, the options available
are the transfer of all customer accounts and balances to another
licensed and regulated sports book, or the return of funds to customers.
Betworks has entered into an agreement with Canbet Sports Bookmakers UK
Ltd (Canbet), a sports bookmaker licensed in both Australia and the
United Kingdom, in respect of current wagering account holders. Details
regarding Canbet can be found on its web-site www.canbet.com or
www.canbet.co.uk.
Canbet has agreed to take over the wagering accounts of all existing
clients of Betworks. This arrangement will occur automatically unless
individual clients specifically signify their unwillingness to agree to
the transfer arrangement. The alternative to the transfer of the
account is for Betworks to forward moneys representing the positive balance
of wagering accounts, to the individual holders of those accounts.
Accordingly, clients are requested to signify only if they do not wish
to have their wagering account taken over by Canbet. Clients who do
not agree to the transfer of the account will have the positive balance
of their wagering account (if applicable) forwarded to the individual
account holder.
For those clients who are happy for their account to be transferred to
Canbet, please be aware that your personal details will be provided to
Canbet to enable that company to properly establish and manage your
account. In accordance with applicable privacy laws, agreement to the
transfer of your account also signifies agreement for the transfer of your
personal information.
For those clients who do not agree to the account transfer arrangement,
the client information will be destroyed once funds have been remitted
back to you.
Given the need to manage the orderly closure of the sports book element
of the business in a timely manner and to minimize inconvenience to
customers, it has been determined that clients must advise Betworks of
their unwillingness to agree to the transfer of account
balance/information by 3 November 2003. After this date, it will be deemed that the
transfer of the account is not opposed.
If you do not wish to have your wagering account and balance
transferred to Canbet, please confirm by e-mail to support@betworks.com and
provide the information necessary to enable the positive balance of your
wagering account forwarded to you by Electronic Funds Transfer/Bank Wire.
Payments via Bank Wire/EFT is the standard way of remitting funds to
customers. This is also the most expedient way of remitting funds to
customers.
The information necessary to enable the proper return of funds by Bank
Wire includes:
Account Name
User Name
Bank Account Name
Bank Account Number
BSB Number (for Australian clients only)
Bank Name
Bank Address
Routing Number (if applicable)
SWIFT code (if applicable)
Any special instructions (in as much detail as possible)
It is critical that complete details of the bank/financial institution
are provided in writing. In this way, we have written evidence of your
withdrawal instructions. Failure to provide comprehensive information
will delay any remittance.
The standard method of remitting funds to customers is via Bank
Wire/EFT. If customers require funds to be remitted by any other method,
Betworks will be required to impose an administrative fee to cover the cost
of such transfer methods. The administrative fees are applied to cover
the fees levied upon Betworks in processing the non-standard withdrawal
request.
In the case of withdrawals by cheque, an administrative fee of $20 will
be applied.
In the case of Neteller withdrawals, an administrative fee of 2.0% of
the amount remitted will be applied to all withdrawals.
In the case of Prepaid ATM withdrawals, an administrative fee of 2.0%
of the amount remitted will be applied to all withdrawals.
Please be aware the maximum that will be remitted to any individual
customer via Neteller or Prepaid ATM, will be limited to a maximum of
$2,500. This transaction limit is imposed by Neteller.
Please also be aware that Betworks does not hold large balances with
Neteller or Prepaid ATM. Accordingly, payment delays may be experienced
as Betworks replenishes its Neteller and Prepaid ATM accounts as demand
requires.
The e-mail providing the requested information and instructions is to
be forwarded to support@betworks.com
Upon receipt of your instructions, funds will be forwarded as soon as
possible.
All obligations in respect of the timely provision of identification
documents must also be satisfied. Funds will not be returned to
customers until acceptable identification documents (valid Driver’s Licence or
Passport and credit card details, if applicable) have been received in
a legible and readable form.
Your support and patronage of Betworks has been greatly appreciated.
Good luck in your future sports betting activities.
Betworks
I'm pissed to use Neteller to transfer the funds and subjected to their fees. 2.9% and the move from Aussie book to a former Aussie turned British book. WTF is this move being approved by Down Under Goverment.
Please be aware that as a result of the sale agreement executed over
recent days, Betworks Pty Ltd has been sold by Euraust Ltd.
As a result of the sale agreement, the new owners have reviewed the
direction and product focus of Betworks and it is understood that there
will be a change to the focus of the business toward US horse racing
rather than sport.
Therefore, arrangements are being made to close the fixed odd sports
wagering component of the business including the return or transfer of
customer funds.
In respect of funds held on behalf of customers, the options available
are the transfer of all customer accounts and balances to another
licensed and regulated sports book, or the return of funds to customers.
Betworks has entered into an agreement with Canbet Sports Bookmakers UK
Ltd (Canbet), a sports bookmaker licensed in both Australia and the
United Kingdom, in respect of current wagering account holders. Details
regarding Canbet can be found on its web-site www.canbet.com or
www.canbet.co.uk.
Canbet has agreed to take over the wagering accounts of all existing
clients of Betworks. This arrangement will occur automatically unless
individual clients specifically signify their unwillingness to agree to
the transfer arrangement. The alternative to the transfer of the
account is for Betworks to forward moneys representing the positive balance
of wagering accounts, to the individual holders of those accounts.
Accordingly, clients are requested to signify only if they do not wish
to have their wagering account taken over by Canbet. Clients who do
not agree to the transfer of the account will have the positive balance
of their wagering account (if applicable) forwarded to the individual
account holder.
For those clients who are happy for their account to be transferred to
Canbet, please be aware that your personal details will be provided to
Canbet to enable that company to properly establish and manage your
account. In accordance with applicable privacy laws, agreement to the
transfer of your account also signifies agreement for the transfer of your
personal information.
For those clients who do not agree to the account transfer arrangement,
the client information will be destroyed once funds have been remitted
back to you.
Given the need to manage the orderly closure of the sports book element
of the business in a timely manner and to minimize inconvenience to
customers, it has been determined that clients must advise Betworks of
their unwillingness to agree to the transfer of account
balance/information by 3 November 2003. After this date, it will be deemed that the
transfer of the account is not opposed.
If you do not wish to have your wagering account and balance
transferred to Canbet, please confirm by e-mail to support@betworks.com and
provide the information necessary to enable the positive balance of your
wagering account forwarded to you by Electronic Funds Transfer/Bank Wire.
Payments via Bank Wire/EFT is the standard way of remitting funds to
customers. This is also the most expedient way of remitting funds to
customers.
The information necessary to enable the proper return of funds by Bank
Wire includes:
Account Name
User Name
Bank Account Name
Bank Account Number
BSB Number (for Australian clients only)
Bank Name
Bank Address
Routing Number (if applicable)
SWIFT code (if applicable)
Any special instructions (in as much detail as possible)
It is critical that complete details of the bank/financial institution
are provided in writing. In this way, we have written evidence of your
withdrawal instructions. Failure to provide comprehensive information
will delay any remittance.
The standard method of remitting funds to customers is via Bank
Wire/EFT. If customers require funds to be remitted by any other method,
Betworks will be required to impose an administrative fee to cover the cost
of such transfer methods. The administrative fees are applied to cover
the fees levied upon Betworks in processing the non-standard withdrawal
request.
In the case of withdrawals by cheque, an administrative fee of $20 will
be applied.
In the case of Neteller withdrawals, an administrative fee of 2.0% of
the amount remitted will be applied to all withdrawals.
In the case of Prepaid ATM withdrawals, an administrative fee of 2.0%
of the amount remitted will be applied to all withdrawals.
Please be aware the maximum that will be remitted to any individual
customer via Neteller or Prepaid ATM, will be limited to a maximum of
$2,500. This transaction limit is imposed by Neteller.
Please also be aware that Betworks does not hold large balances with
Neteller or Prepaid ATM. Accordingly, payment delays may be experienced
as Betworks replenishes its Neteller and Prepaid ATM accounts as demand
requires.
The e-mail providing the requested information and instructions is to
be forwarded to support@betworks.com
Upon receipt of your instructions, funds will be forwarded as soon as
possible.
All obligations in respect of the timely provision of identification
documents must also be satisfied. Funds will not be returned to
customers until acceptable identification documents (valid Driver’s Licence or
Passport and credit card details, if applicable) have been received in
a legible and readable form.
Your support and patronage of Betworks has been greatly appreciated.
Good luck in your future sports betting activities.
Betworks
I'm pissed to use Neteller to transfer the funds and subjected to their fees. 2.9% and the move from Aussie book to a former Aussie turned British book. WTF is this move being approved by Down Under Goverment.
