I guess players funds were not kept separate from business funds?
Just out of interest, what is the position of sky bet with players funds?
From the SB&G T & C's;
Funds exceeding the value of active customer balances are held in a specific bank account separated from the company’s other operating bank accounts to ensure that there are always sufficient funds available for customers to withdraw their balances, even in the highly unlikely event of the insolvency of the Sky Betting and Gaming group. Our bank has acknowledged in writing that our customer funds are held in a separate account for this purpose and will not be subject to any bank set off or counterclaims in respect of any company bank liabilities. This means that steps have been taken to protect customer funds but that there is no absolute guarantee that all funds will be repaid. These accounts are proactively monitored and reconciled by our Finance department and are audited by independent internal and external audit teams.
Comments
Funds exceeding the value of active customer balances are held in a specific bank account separated from the company’s other operating bank accounts to ensure that there are always sufficient funds available for customers to withdraw their balances, even in the highly unlikely event of the insolvency of the Sky Betting and Gaming group. Our bank has acknowledged in writing that our customer funds are held in a separate account for this purpose and will not be subject to any bank set off or counterclaims in respect of any company bank liabilities. This means that steps have been taken to protect customer funds but that there is no absolute guarantee that all funds will be repaid. These accounts are proactively monitored and reconciled by our Finance department and are audited by independent internal and external audit teams.
Think i dodged bullet here - shocking way to treat ppl