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reworked warning re fantasybet

FantasyBet Fantasy Football
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12345678
Dumbledore
Posts: 5817
Joined: 13 Oct 2005, 18:26

reworked warning re fantasybet

Post by 12345678 »

having spoken with admin it has been agreed that a warning re fantasybet should be reposted.

i have bet with them for probably about 2 years and found it a decent game with good customer support, albeit there were some issues with clarity of rules.

my understanding from the guys at fantasybet is that they have effectively lost control of the accounts and day to day running to a group called viral interactive who do 'white label' licencing for a variety of labels. if you are interested either message me or google information. so viral interactive hold the gambling licences.

they suspended withdrawal of funds from my account and additionally stopped management of existing ongoing wagers without warning.

i have spoken with the UK Gambling Commission today who have said as far as they are concerned they have sufficient source of funds validation but viral are insisting on annual income being proven which is not relevant. They additionally told me that they had no right to suspend withdrawals nor management of existing wagers but if they had issues should have suspended the ability to place wagers but i seemed to be able to enter a £1.10 team in the hull game on saturday. the UK Gambling Commission have told me there is enough to investigate viral interactive.

in fairness to fiso members we felt you had the right to know at least something of what is going on and any account holders can decide whether to carry on as normal or try to withdraw funds.

happy to reply to messages via DM but won't be posting anything further on this bar updates that may be of interest to forum members.

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12345678
Dumbledore
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Joined: 13 Oct 2005, 18:26

Re: reworked warning re fantasybet

Post by 12345678 »

after a lot of grief and pressure viral interactive have 'verified' my account without further documents or the info they were insisting on that i didn't have and they didn't need.

seems it went up the line and a decision was changed.

personally i have withdrawn my money and will only manage paid for seasonals. everyone else can make their own minds up but i won't be leaving a balance in there.

the guys at fantasybet seems a decent lot and were even trying to fix a backdoor entry for me to manage teams (without success) and i would happily play their games again if the gambling licences were not under viral interactive having investigated them via google and word of mouth.

7lb claimer
Grumpy Old Man
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Joined: 13 Oct 2005, 18:33

Re: reworked warning re fantasybet

Post by 7lb claimer »

It's pretty murky out there. Matchbook now suspended with Gambling Commission stating details to follow. You'd think they could tell us now.

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12345678
Dumbledore
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Joined: 13 Oct 2005, 18:26

Re: reworked warning re fantasybet

Post by 12345678 »

hi claimer, good to hear from you again. i would agree, the concern with any american firm for me is really 'trump' we haven't really got a clue when he might say funds shouldn't be sent from usa wagering firms outside the country for instance. as far as the UK Gambling Commission goes i have always found them pretty haphazard and disinterested in anything bar their fees and income. back in the day when anti money laundering stuff was introduced the likes of accountants and solicitors were expected to take it seriously as legislation even when there were no real issues. what seems to have happened talking with the guys at fantasybet and fanteam is that the UKGC are now insisting they take that legislation seriously so besides proving you have ID you are also meant to be content you have proof of funds. this is fine if you fit into round or square holes but can be messy for the likes of me!

i understand they don't want to sink loads of time into meeting the legislation and being as efficient as possible but i am unsure where the communication issues lie whether it be poor communication from UKGC or poor interpretation by organisations like viral, or poor 'in house' training. if you twisted my arm to guess i would say the latter is most likely.

so viral wanted to know my annual income and where it was from, whereas all they need to establish is an honest source of funds.

in this case my concerns are simply viral's financial position and not fantasybet who are basically a 'white label product'.

whilst i don't know about matchbook i wouldn't be surprised if a lot of suspensions are simply 'compliance' related which is what UKGC seems to concentrate on.

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12345678
Dumbledore
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Joined: 13 Oct 2005, 18:26

Re: reworked warning re fantasybet

Post by 12345678 »

just to confirm i got my money back. i'll not be playing any new entries this year unless i recycle winnings from 'seasonals'.

will look again next year, feel bad for the decent guys at fantasybet but don't want to deal with viral interactive on what i have read and been told.

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12345678
Dumbledore
Posts: 5817
Joined: 13 Oct 2005, 18:26

Re: reworked warning re fantasybet

Post by 12345678 »

with a bit more cash to come you can probably guess what has happened..................... yep they have blocked withdrawals again!!!

completely farcical they now want a photo of front and back of the new bank card! the same one they paid out to 8 days ago!!!

UKGC have already told me they have no right to block withdrawals which i passed on but obviously they are still trying to block and slow withdrawals!

i feel sorry for the fantasybet guys working under viral interactive - what a total shower they are!

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Art Vandelay
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Re: reworked warning re fantasybet

Post by Art Vandelay »

Hmmm. That's a shame. How much were you trying to withdraw? (first time you were blocked).

I've always been a bit paranoid about moving big amounts in one go with online casinos/bookies in case it kicks in some additional checks or irritating procedures and always do a series of small amounts....

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12345678
Dumbledore
Posts: 5817
Joined: 13 Oct 2005, 18:26

Re: reworked warning re fantasybet

Post by 12345678 »

well eventually all has been paid out to me.

after receiving the main amount they blocked withdrawals AGAIN.

UKGC told me viral interactive had no reason to do this whatsoever.

i like the games as a bit of variety and additional turnover.

in a sense you could argue that with this being a small part of their gambling empire and casinos not affected that they should be pretty safe.

it's a gambling game and maybe despite not being known for it i am being overly cautious but coupling what i have read with issues i have had making withdrawals i am OUT till next season at least in terms of depositing any cash.

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