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I appreciate Covers doing all they can to get players money back. Maybe they can work something out to get another site to take on player balances with a rollover. It's happened before in similar situations, and I'm hopeful it will happen again.
At the same time, I don't think Covers or anyone can blame this situation 100% on the US government. No betting site should have all of the players funds in US bank accounts that the US government can just take, no matter what their size. Player funds should be kept in separate accounts, with just enough in play at one time for payouts, which should be nowhere near 100% of all costs. Even in this case, I have a hard time believing BetEd lost every dime to their name, and had no European customers, or no money saved for Moneybrooker or Neteller payments, or any profits stashed away somewhere else. Could a lot of their money been taken away? Sure. But all of it? I'm skeptical. And if that in fact was the case, Covers had absolutely no business recommending them as their top shop. Going forward I hope Covers not only makes good on their promise, but also re-evaluates how they recommend sites. If I were running a site like this one, one of my absolutely top evaluating criteria would be that that book had segregated accounts, so that player funds are not at risk. And if the book is too small to afford that? They should never be top-ranked in the first place. |
Freedom@Stake | 148 |
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