Betchance calls it a day

The Malta-based bookmaker, which operated as deposit only for almost one year, has recently infored its customers that it will be finally closing down.
Betchance offered players to get paid 30% of their balances within few weeks (few weeks? where have I heard this before?) or receive full payment in installments within the next 15-20 months.
While it remains unclear how Betchance plans to raise the funds necessary to pay the full balances in the next year and a half, there is now no doubt that the bookmaker with the assistance of the Maltese gambling regulator LGA lied to players all along and there never were new investors.
What I personally find extremely worrying is that the Director of Legal of the LGA, Joseph Borg, lied to my face twice. First in Birmingham in October 2007 when he claimed that new investors had officially bought into Betchance and some 230 clients were paid, and then again in London in January 2008, when he confirmed that betchance services were back to normal.
Make of this what you want, but personally I would stay away from all small Maltese bookmakers as the LGA has proved over and over again to be a total joke.
Sure you got people to talk to (eventually) that you don\’t have say in Costa Rica, but what good does it do if these people are professional liars more accustomed to politics, whose only interest is to sell more licenses, whilst they have no interest to provide players any help or meaningful protection.
Reputable, Responsible, Secure…yeah right.