Sportsbook Taking on Water


The internet sportsbook is in trouble, according to various reports on websites focused on the gaming industry. BetIslands general manager Jon Kreta is no longer with the company and all customer payouts have stopped.

“We can not make payouts at this time due to our processor being down,” says one BetIslands employee. Customers were last paid on Monday, December 10th. Employees also report that Kreta’s whereabouts are unknown, as is the state of BetIslands’ ownership. Kreta was the face of BetIslands since its inception, and was commonly thought of as the owner by most customers.

BetIslands was a fairy tale story at one time. A relatively unknown member of the Jazz group of sportsbooks , its customers insisted BI had cleaned up its act and become a top-notch sportsbook catering to the American and Canadian market in just two short years.

Industry watchdog certainly agreed. SBR began rating BetIslands in March 2011, quickly raising its grade to a B (on an A to F grading scale) while promoting the book to its vast membership. “The veteran ownership group is respected within the industry. BetIslands has excelled with customer support and timely withdrawals,” said one SBR report.

SBR has said little of BetIslands demise. “We are trying to get daily updates,” says SBR John on the SBR forums. “We were told there would be a round of payouts tomorrow.”

SBR is receiving much of the anger, however. “Of course SBR is to blame here too, they upgraded a book with no history to B,” one member insists. “This rating should be reserved for books that are around for years. Don’t trust SBR ratings anymore, period. They will upgrade anyone up to A- who tells them nice stories and pays the bills.”

There is some hope, however. “I wouldn’t be working today if I didn’t think I’d be paid,” a BetIslands employee said. “And if I’m getting paid, so should the customers.”