Australian white label sports betting brand Bet247 has filed a legal lawsuit against sports betting expert Tom Waterhouse over in the 2011 rescue of Bet247 customers following the failure of Bet247′s wagering services provider – Sports Alive to secure transaction funds for player wagering.
The Melbourne-based Sports Alive brand went into quickly into liquidation, and an investigation by the Australian Gambling Commission revealed that the bookmaker had in effect been running with no tangible funds to pay its customers, leaving 18,000 Australian sports betting customers out of pocket. As part of the company’s liquidation, Bet247 agreed to transfer 8,267 betting clients to Waterhouse’s company which would cater these accounts under profit share terms
Tom Waterhouse owner of sports betting operator – TomWaterhouse.com was sued by Bet247 for breaching terms of 2011 agreement, these include the obligation to continue distributing profit shares on Bet247′s former clients until December 2015. Bet247 have claimed that they have not received any profit share from the player accounts purchased by Tom Waterhouse. Furthermore Bet247 allege that Waterhouse deducted wrongful sums from player wagering accounts in an attempt to hide revenues in order not to pay profit shares on the accounts purchased from Bet247.