BettingWest's RGL bond not enough to cover all player balances

Despite the Australian bookmaker's claims that it closed after the managing director, former TAB Sportsbet manager Wade Annear, was admitted to hospital and while the bookmaker's owner Denis McInerney said there was nothing to guarantee as the Western Australia RGL Board already had a $350,000 bond, it has emerged now that the bond alone won't be enough to cover player balances considering that one player alone is owed almost half a million dollars.
News on Australian media also revealed that Mr Annear had been discharged from the hospital almost immediately. This drove speculations on local forums that McInerney's claims that a betting agency could not operate without a licensed manager was just the perfect excuse to close the bookmaker when it became obvious that BettingWest's plan to compete with Tab Sportsbet was doomed for failure.

Date published: 20 November 2009


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