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Public complaints: Mybet bankrupt! Payout pending for 5-6 weeks - MGA reliable?

Topic created on 16th Sep. 2018 | Page: 1 of 3 | Answers: 24 | Views: 20,176
Anonym

Mybet bankrupt! Payout pending for 5-6 weeks - MGA reliable?

16th Sep. 2018, at 07:13 pm CEST#1
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Hello all,

for years I was a silent reader. Today I would like to get your advice / opinions.
I was a loyal member of mybet for almost 10 years and even VIP (higher bonus, betting credit for birthday, Bonuses at Christmas, etc.)

As some of you surely know, mybet is insolvent since last month, shortly after the casino was closed and meanwhile the site is completely down.
Unfortunately, mybet has in the time before and after the insolvency a very bad game with their members pulled off to which I am also in contact.
We all wait up to 6 weeks for our payouts (bank transfer, PayPal).

When I wanted to pay out a 4-digit amount in mid-August, it took a remarkably long time (1 week). Normally, the status always changed from "pending" to "successful" on the same day of the payout
from "pending" to "successful". 2-3 days later you could expect the money to arrive in your bank account.
With me, the suspicion arose that mybet might have financial problems.
For fun I googled the mybet news of the last 24h. Then the big shock: mybet had filed for insolvency on Friday (17.08.) before my payout.

From that day on I wrote to mybet almost daily and inquired about the status of my payout. It was always just said to please be patient. No justification.
On 23.08. then changed the status of my payout. This was now marked as completed and I was relieved accordingly.
When 2-3 days later still nothing was there, doubts arose with me again. Mybet always put off the members only with the fact that they are nevertheless please on the next day again
the next day to check the account balance. When a whole week after alleged payout still nothing was there, mybet wanted now account statements of the Mitligeder, thus a proof that the funds really did not arrive yet
the funds really have not yet arrived. I sent them the requested account statement. 1-2 days later they said that all withdrawals have failed,
because there were technical problems and the transfers went back to mybet. I didn't buy that anymore
The best part of the story was that mybet's website continued to operate normally for 2-3 weeks after the bankruptcy
Unsuspecting customers continued to pay in diligently without knowing that mybet had major problems with payouts.

In the meantime, inquiries are only directed to the fact that mybet is insolvent and the customer funds are nevertheless protected by the MGA.
Now my question: Do you have positive experiences with the MGA? So, for example, in cases where the Provider initially refused your payout, you were still paid out afterwards,
because the MGA was right?
Complaint with screenshot was already 2-3 weeks ago submitted to the MGA. A few days ago came a mail from the MGA that I should be patient and will be notified,
if something happens. Despite MGA my hope is fading more and more.... :'(

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Dokado1212
Experienced

Mybet bankrupt! Payout pending for 5-6 weeks - MGA reliable?

16th Sep. 2018, at 07:41 pm CEST#2
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Hi,

as far as I know, mybet is a stock company.

As far as I have read and as you have already written, supposedly the money of customers is secured.

I would now just wait a few weeks and see what happens.

But I am hopeful that you will get the money paid.

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s****e

Mybet bankrupt! Payout pending for 5-6 weeks - MGA reliable?

16th Sep. 2018, at 08:02 pm CEST#3
1 Like

Liked this post: Avatar von sippi sippi
Be hopeful in the event of insolvency?
But that's very optimistic....
Just a player from Germany.

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Daniel
Elite

Mybet bankrupt! Payout pending for 5-6 weeks - MGA reliable?

17th Sep. 2018, at 01:13 am CEST#4
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You will probably get your money (but nothing is certain in insolvency) but it will take some time! And by some time I mean that it can drag on for months. mybet is not for nothing with us on the blacklist.

The next wobbly candidates are Quasar Gaming and OVO Casino, which are already on our greylist. Anyone who has a player account at mybet, Quasar Gaming or OVO Casino should close it and play somewhere else. Good Online Casinos are a dime a dozen. Ok, there are casinos like sand on the sea, good ones there are unfortunately not quite so many

Good alternatives to Quasar Gaming, OVO Casino and mybet would be: LeoVegas ; sunmaker ; sunnyplayer ; Videoslots ; SlotsMillion ; Rizk ; Mr Green ; GUTS and some more.

Sorry for you but you have to be patient now. There is nothing else left for you at the moment. It would be nice if you would keep this thread up to date when something new comes up.

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Anonym

Mybet bankrupt! Payout pending for 5-6 weeks - MGA reliable?

17th Sep. 2018, at 03:43 am CEST#5
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Daniel wrote on 09/17/2018 at 01:13: You will probably get your money (nothing is certain with insolvency though) but it will take some time! And by some time I mean it can drag on for months. mybet is not for nothing with us on the blacklist.

The next wobbly candidates are Quasar Gaming and OVO Casino, which are already on our greylist. Anyone who has a player account at mybet, Quasar Gaming or OVO Casino should close it and play somewhere else. Good Online Casinos are a dime a dozen. Ok, there are casinos like sand on the sea, good ones there are unfortunately not quite so many

Good alternatives to Quasar Gaming, OVO Casino and mybet would be: LeoVegas ; sunmaker ; sunnyplayer ; Videoslots ; SlotsMillion ; Rizk ; Mr Green ; GUTS and some more.

Sorry for you but you have to be patient now. There is nothing else left for you at the moment. It would be nice if you would keep this thread up to date when something new comes up.

Thanks for the GUTS Tip, finally again a casino where I can register with residence Ö...could. They even suggested +43 for the phone verification.

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Anonym

Mybet bankrupt! Payout pending for 5-6 weeks - MGA reliable?

29th Oct. 2018, at 08:26 am CET#6
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Short update

It has been 10 weeks since mybet went insolvent and most players requested their money to be paid out there. I (and all others) are still waiting for the money.
In the meantime you don't get any answers from mybet anymore. Before they stopped the customer service, it was diligently pointed out that the customer funds are safe,
because they have always been kept in a separate account for the protection of customers (a Provider who does not do this would probably not even get an MGA license), which does not flow into the insolvency estate.
However, from now on you have to contact the MGA, because the payouts in such a case are controlled by it, said mybet at the beginning of September.

No sooner said than done. At the beginning of September, I submitted a complaint with a screenshot of my payout to the MGA. Pretty quickly got an answer:
"... We have made contact with the representative of Personal Exchange International Limited (mybet.com) on your behalf about the matter you raised, information has been requested with regards to the incident you refer to.


As soon as information becomes available to the Authority you will be notified accordingly.



Regards, ..."


Since then, nothing has been heard from the MGA. No response to messages either. Honestly...I have written off my money.
Everything with the protection of the customer funds by the licensor etc. can be forgotten. Ultimately, gambling providers and licensors profit from each other.

Your money is only safe in your hands. So don't bunker it with gambling providers and always pay out as much as possible. Otherwise you will end up empty-handed like us mybet victims.

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Anonym

Mybet bankrupt! Payout pending for 5-6 weeks - MGA reliable?

29th Oct. 2018, at 09:50 am CET#7
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This is of course very annoying, a pity for the money. You have to be very careful where you Deposit and research well beforehand, but it is also bad that many sites put money into false reviews. If you do not enter the right search terms, the search results are full of top ratings for every bad casino.

According to MGA, the following rule applies, and therefore you should write as quickly as possible to the MGA to have a chance before the "pot" is empty:

Provided that the player funds account balance constitutes at least ninety per cent (90%)
of the funds required by the licensee to cover player funds, with the remaining balance covered
by funds in transit.

Provided further that if these funds fall below the aggregate total of the amount standing
to the credit of players, the licensee shall make good the shortfall from the licensee's own funds,
forthwith

If you want you can read the regulations on the MGA page yourself, they are the directives - the rest is less relevant for you.

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Dokado1212
Experienced

Mybet bankrupt! Payout pending for 5-6 weeks - MGA reliable?

29th Oct. 2018, at 10:51 am CET#8
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Thank you for keeping us up to date. Would be nice if this was always the case.

Nevertheless, I am hopeful that you will see some money in the end. I would wait a little longer and see what happens.

Otherwise, I have been quite strongly blinded, not only by mybet (after all, a stock company) and the MGA.

Please keep us up to date.

Best regards,

Dokado

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Anonym

Mybet bankrupt! Payout pending for 5-6 weeks - MGA reliable?

29th Oct. 2018, at 02:18 pm CET#9
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a buddy has had 2009-2011 a mybet store, in a pretty good area. He got 1200 net + the income of the wins percentage, after the 2 years went bankrupt and had to close the store. Sad but true. I hope very much that you get your money but with an insolvency it always looks very bad. Cross both fingers for you

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Azura
Rookie

Mybet bankrupt! Payout pending for 5-6 weeks - MGA reliable?

16th Nov. 2018, at 10:31 pm CET#10
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I have not received my money until today and no one answers my mails anymore

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