Online Casino Sports Bettors have Cause for Optimism
In one of the most publicized moves that the United States had taken in its enforcement of the online casino ban, the CEO of an online sports betting company based in Antigua was arrested. The clampdown on the online casino sports betting site, including the arrest of David Carruthers, has highlighted the legal effort that the US led against online casino gambling in general. But those who got hurt in the process were often the gamblers and sports bettors themselves. Antiguan authorities have now called for online casino payment processors to go ahead and return funds to players in a supervised manner.
The Antiguan licensing authorities have announced this week that leading online casino sports betting site, Antigua based and US serving BetOnSport will follow the instruction and repay its players. A regulatory commission, the Financial Services Regulatory Commission of Antigua and Barbuda, will assist and supervise the debts settlement. The commission’s statement said: “The payment process has been implemented under the supervisory authority given to the FSRC in order to give extra reassurance to organizations that funds returned that will be properly used in the settlement of creditors in line with legal requirements, as well as assuring that BOS creditors will be paid in a fair and balanced manner.”
Not only will the online casino sports bettors benefit from the decision but so will employees. “Even under adverse conditions,” the statement points out, licensed online casino sites must operate properly and repay debts to all involved. The key to successfully settling debts is the supervision of the commission and the cooperation of the online casino. “It is anticipated that the oversight of the process by the Commission will give these organizations the transparency and reassurance they are seeking in order to return funds, so they may be distributed appropriately,” the statement added.