E-mail from Betworks, I don't like what I read?

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. It is understood that there will
be a change to the focus of the business toward US horse racing rather
than sport.

Therefore, instructions have been issued to close the fixed odd sports
wagering component of the business and arrange the transfer of
customers’ funds.

Betworks is currently in negotiations with another licensed bookmaker
to allow a seamless transition of customer’s accounts. This process will
allow Betworks customers to continue to use their current funds in a
licensed and regulated sportsbook without the inconvenience of making
individual transfers of funds.

Further details in respect of this issue will be provided in the very
near future. Please be aware that during this negotiation, withdrawals
are unable to be processed.

Please be assured that the regulatory arrangements in the ACT mean that
player funds are protected. There is no risk to your funds as a result
of the sale of Betworks.

Your understanding of the situation is appreciated.

Betworks



my thought that they were gonna focus towards horseracing instead of sports part and I'm gonna thought of withdraw all of my monies due being not much of a horse bettor.

I didn't even have this e-mail when I posted, thanks. He mentioned that about horse racing but was holding out hopes he could stay with sports betting as well. If not I agree with you though, I'm not a horse player so there would be no incentive to stick with these guys if that's all they offer.

They are a sad bunch over there as they are all out of a job. I liked Brian and those guys over at BetWorks a great deal, hate to see them leave us.

If betwork account holders wanted their funds right now.. they couldn't get the funds? That's what it seems to me..and that would piss me off to no end.

even if it is a 48 hour hold.. thats 48 hours too many.. a player should have access to his funds at anytime.

I dont even have an account there and this is pissing me off.

As long as all get their money, we will be ok . The transition goes well hopefully.

<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>It is understood that there will
be a change to the focus of the business toward US horse racing rather
than sport. <HR></BLOCKQUOTE>
That's funny, seems like sort of a dumm move to me! They're pushing away a whole base of sports customers...I think they should have use something like:" In addition to our premium sports service we will extend our services to horse racing"