Betfair Involved in Scandal Due to Late Payouts

One of the largest betting rooms of the online gambling market, Betfair, got involved into a payout related scandal recently. The scandal revolved around a Russian player who didn’t receive his payouts on time. The news became public once the player in question accused the betting room for not providing him with his deserved amount of $3.5 million.

The Russian player requested his payout on February after which he received $360.000. The player is yet to receive the rest of the money.  On enquiring about the issue, media trusts came to know that the allegations against Betfair are true.  But the betting room explained that, it is not responsible for the delayed payment. A third party handles the payment systems of Betfair. The name of this payment processor was not mentioned by the betting room.

This unknown payment processor has been contacted by some sources. They revealed that, due to certain payout laws, the payment processor is unable to deliver the entire money at one go. But the concrete laws concerning the issue were not stated. Apparently, a payout over $ 20,000 is not allowed in a week. The payment processor confirmed that the maximum amount of $ 20,000, was paid weekly to the player through bank wire and the rest by cash.

If this is the case, then it would take probably more than 2 years for the player to receive the entire sum of money. On asking about alternative methods for payment, both Betfair and the payment processor kept quiet. Although the Russian player is a victim of an unfair payout system in Betfair, it seems that the betting room doesn’t have much to do about it.