Portlandbet (not rated) wagering down as of July 1st
Multiple players have complained that the sportsbook has removed its phone number from its website, is not returning emails, and is no longer taking wagers. A forum poster at moneysavingexpert.com reports receiving the following message from the Australian Gambling Commission:
"As of the 1st July 2008, Portland bet is no longer trading. Their financial position is currently being assessed. The Commission is working with Portlandbet on obtaining a list of outstanding debts owed to punters. As required by all sports bookmakers when first licensed, a security guarantee has been lodged with the Commission which is designed to cover unpaid punters funds up to the limit of the guarantee. Portland bet or the Commission are currently not in a position to give any definitive advice on when any outstanding debts may be settled. When the Commission receives the full list of all account holders and any outstanding amounts these will be considered in due course in the context of the security guarantee and any other funds that may be available.
I have taken note of your contact details and will notify you of any further developments.
Yours sincerely
Bruce Waugh
Compliance and Investigations
Gambling and Racing Commission"
Many of the players are rightfully upset that the sportsbook took their deposit days before taking the wagering platform off-line. The Australian-based sportsbook was last off-line on 12/23/07, warning players of payout delays. The bookmaker reopened in February.