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  1. #1
    The Buzz's Avatar
    The Buzz is offline GPWA Gossip Hound
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    February 2007
    Newton, MA
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    Default Sportsbook XLBet shuts down

    Little-known sportsbook XLBet has closed its doors today, possibly permanently. According to Gambling911, the company claimed to be based out of Curacao and its CEO, Jacob Nielsen, was a co-founder of Bet24.

    Gambling911 says its "highly unlikely that players will see any of their funds."

    This is a letter XLBet sent its clients, which was posted on Gambling911:

    Dear XLBet Client,

    We are sorry to inform that XLBet has been forced to close down its business with immediate effect.

    For a while we have known that we would need more capital into our company in order to keep building our product and despite almost reaching point of “break even” this fall, we haven’t succeeded in raising the necessary funds to cover the old losses and the costs connected to our new platform, and thus we have decided to close down our business before even more people got economically involved.

    We regret that some clients are left frustrated with money on their betting accounts, but we are working on several solutions securing some of the player funds.

    We also would like to apologize for the delayed information about the closure, but we would have preferred to get more info about above subject before we released the sad news.

    That was not possible, so we will give further information by email when relevant as soon as possible, but until that please understand that any pay out request will be left pending and that any support service has to be closed down.

    We are very sorry for the inconveniences brought on you by this, but hope you understand that we have done everything possible to avoid this situation and keep on offering E-Sports betting, Poker and Casino for you.

  2. #2
    davenewgates's Avatar
    davenewgates is offline Public Member
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    June 2010
    Over the Web
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    I feel sorry for them But they may have learned a lot from the failed site, wonder if they will still attempt to reconstruct and be back for business again.

  3. #3
    JoeAdams is offline Public Member
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    October 2010
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    I don't think they would be able to get back into business again to think that they already did their best to recover from their loses but still to no avail until they've just decided to cease their operation perhaps upon accepting the fact that they can no longer save their company. Poor are the affiliates.

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