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Bet247 to Sue Tom Waterhouse for $250,000

Bet247 to Sue Tom Waterhouse for $250,000

Bet247 is suing Tom Waterhouse for almost $250,000 over money it claims is owed them from an arrangement from August 2011 when Waterhouse took over the clients of the failed bookmaker Sport Alive.

Bet247 to Sue Tom Waterhouse for $250,000

Bet247 is suing Tom Waterhouse for money it claims is owed from the customer transfer agreement formed during the collapse of Sports Alive.

Bet247 used to market wagering services operated by Sports Alive. Now it has filed a write in the Victorian Supreme Court demanding $247,979 in unpaid profit owed under the terms of their customer transfer agreement by December, additionally Bet247 is demanding interest and profit from this year.

When Sports Alive collapsed Bet247 transferred 8267 to Tom Waterhouse. Waterhouse agreed to honour the account balances of the customers and share the profits from those customers with Bet247.

Bet247 is claiming that Tom Waterhouse has not followed all the terms of the agreement.

In a statement Tom Waterhouse said, “We are yet to be served but in any event we deny the claim.” The solicitor for Bet247, Andrew Green, said that he could not comment.  A directions hearing will take place on August 16th.

When Sports Alive collapsed punters were left without more than $3.7 million.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.