What's going on with Futurebet?

[mary]

You may ask.
Well, it went like this:
Black Rhino when belly up for the second time. (The first time was as a World Gaming site).

Sting of The Prescription and Gambling 911 endeavored to collect owed monies for four players. Negotiations broke down. Partial payments were offered the players as settlement.

Mike, Bryan and I (aka OPA) met with Brian Hurley of Futurebet at the Global Gaming Expo. We talked about stuff. One of the conditions of reporting the discussion is that BH was worried we would misreport it, so they asked to review our announcement of the meeting before publication. OK.

Their message wasn't real complicated at the timel stripped to the essence, it was that Futurebet was strictly a software provider, not an operator, and could not afford to take on the responsibility of paying for failed licensees' obligations.

Bryan and I were still on the road a week later, in Vancouver, and Bryan didn't get back home until a few days after that. In the meantime, Jyde found some more players owed money when Black Rhino went under.

More email between webmasters and whatnot, and then the Gamemaster put up his editorial and blacklist of Futurebet sites. Brian Cullingworth made mention in his Infopowah service. An angry former licensee of Ichance posted on on Start Casino about the principals of Futurebet owing them something like $140k.

Futurebet appears to have reconsidered their policy; this was posted at Start Casino as a press release, so I reproduce it here.


Press Release from Worldwide Support / Futurebet
Author: Webmaster (---.ny5030.east.verizon.net)
Date: 10-07-02 11:26

The people at WWS sent me this. I'm posting it FYI.

Webmaster
------------------------


Worldwide Support, Ltd. Announces Unveiling of Player Protection Program
October 7, 2002 - In an attempt to stand behind the integrity of the gaming operators that have licensed software through the company, Worldwide Support, Ltd., the exclusive licensor of the FutureBet gaming system, is pleased to announce the implementation of its player protection program.

The program, which is truly an industry first, provides customers of any certified Worldwide Support licensee with the peace of mind that Worldwide Support (

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) provides from a protection policy on each player account. Of course, this program supplements the ongoing commitment of the licensee itself to provide each customer with a dependable, financial environment. However, in the event that the gaming operator elected to close its business, for whatever reason, Worldwide Support would ensure that every customer of that operator is paid the particular amount owed to them (up to a maximum of $5,000 USD).

While the company does not automatically assign a certified status to each licensee, operators covered by the protection program will each be validated with a Worldwide Support PPP (Player Protection Program) icon on the bottom of their websites main page (additional confirmation can be provided via the below email address). The company's goal is to certify every licensee as the process provides for a system of checks and balances between licensor and licensee that was not previously in place. One such example of this system is the ability for Worldwide Support to restrict a certified licensee from offering player bonuses deemed to be excessive.
...............................................

There are still many issues outstanding, but email is still flying.

 

[spearmaster]

Remember Safebet?

 

[jetset]

These guys are talking "ensure" and "policy" but have yet to provide detail substantiating their claim here.

"All we have right now is Futurebet's claim that they have settled with 'some' players, and their unsecured statement that they will look after players in the event of a future licensee meltdown - up to a max of $5 000 a head."

So:

a) Let's have some details about their player security scheme, with particular attention to whether third independent parties are involved, whether funds have been put aside to finance their "guarantee" outside of their normal operating budgets, which of their licensees have joined the scheme and how does it work from their perspective, what will Futurebet do about casinos that refuse to join their scheme.

b)They claim they are tightening up on licensee selection - what have they done and what are their plans in this regard, ditto their policing of their licensees.

c)Regarding Black Rhino have they gone through their records and approached all players prejudiced by the BR failure in order to make them a settlement offer or is it reserved for players who have had the sense to complain? what is their formula for these "settlements" - is it true that they are only offering a fraction of the amounts owed and if so what is that fraction one third, two thirds, what? is it true that this is not a straight deal but one that involves giving them a credit at another licensee site and then requiring a ten times playthru'?

d) Is Futurebet/iChance/WWS still facing litigative action from World Gaming? Is it true that this is inrespect of their software?

 

[mary]

The Gamemaster has an exchange of lawyer letters with WorldWide Support up now, in his editorial:

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This is up at Link Removed ( Old/Invalid) :

10.07.02 (5:58 PM EST) - SportsbookUSA.com to take over accounts of three former Black Rhino clients who have filed claims with Gambling911.com. Anyone else still owed is encouraged to contact us at STINGCC@aol.com. Futurebet has been assisting in expediting these claims over the weekend.

 

[mary]

Another busy day for Mary chasing these guys around. Looks like Futurebet/Worldwidesupport/iChance has a new name to add to the mix...

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[jetset]

Rather cheeky similarities to the old Starnet brand!

I think the person writing to The Gamemaster was in fact merely an account executive with Futurebet, chancing his arm that the GM might back down (he clearly doesn't know the GM too well!) The response is right on the money and keeps the record straight.

Kudos to GM.

I'm glad to see that The Sting is assisting in trying to get BR players paid by another licensee of these people. He originally seemed to support Futurebet when they were initially making an impression in the business, but then he was more critical of them.