EXCITING NEW RACING YEAR IS HERE!
Welcome to the Trackdata Australian and International racing website, which provides an independent view of the racing and betting scene in the thoroughbred world, with an emphasis on the wagering and industry news.
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SPORTS ALIVE COLLAPSE Trackdata will collate and add all available information that we can track down in relation to the liquidation of corporate bookmaker SPORTS ALIVE in our BETTING NEWS section, especially in regard to punters' entitlements or any bail out options that may become available.
At the present time, it is understood that LUXBET has agreed to takeover the accounts of subsidiary PUNTCLUB customers with funds placed with SPORTS ALIVE.
It is also understood that TOM WATERHOUSE has taken over the accounts of SPORTS ALIVE subsidiary BET 24/7 customers.
ACT Ombudsman Allan Asher would not confirm whether an investigation would be launched. ''We are aware of the matter and inquiries have been made of the ACT Gambling and Racing Commission, to enable the Ombudsman to give further consideration to the issues,'' he said.
One creditor told punters their only prospect of recovery was through "a claim against the regulator".
FRAUD squad detectives have been asked to probe the collapse of online Melbourne bookmaker Sports Alive, which allegedly traded while insolvent for more than two years.
Liquidator Hamish Mackinnon of Bent & Cougle said Sports Alive's deficiency exceeded $13 million, including $12.5 million owed to secured and unsecured creditors and $950,000 that was owed to employees.
An 86-page report by accountants Deloitte obtained by the Mercury showed that Sports Alive was failing to segregate punters' betting accounts from the business operations as required by the Canberra Race and Sports Bookmaking Act 2001 since August 2007.
Latest investigations by THE MERCURY reveal that perhaps many punters' could have been saved from financial loss with Sports Alive if the management of THE TOTE had acted more prudently, much earlier.
The liquidator of failed sports betting company Sports Alive has demanded $14 million compensation from TOTE Tasmania chief executive Craig Coleman and Victorian directors. Mr MacKinnon said that according to Victorian directors Sports Alive had only continued to trade because of the pledges from TOTE. The letter alleged Mr Coleman had a conflict of interest in simultaneously being chairman of Sports Alive and chief executive of TOTE.
ARTICLES on the SPORTS ALIVE COLLAPSE can be found under BETTING NEWS
RACE FIELDS LEVY & FEDERAL COURT NEWS
Trackdata will continue to comprehensively cover all of the Race Fields Levy, Federal Court Cases, Productivity Commission reports, news and opinions, from all angles, also in our BETTING NEWS Section.
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