Canbet punters out in the cold

ColdPunters who were doing their betting at Canbet are still out in the cold as the betting company attempts to resolve its solvency issues.

The Canbet website has been offline since December 2013, and the bookie appears unlikely to come back online any time soon. In the mean time, over $1 million (roughly £639,000) of punters' funds are locked in frozen accounts.

The company’s directors have assured punters that they will be paid out as Canbet and its holding company, IAS Limited, work to liquidate company assets and distribute funds.

Meanwhile IASbet, another IAS Limited online bookie, has been taken over by Sportsbet.com.au, Australia’s largest bookmaker.

The surprise collapse of Canbet highlights how important it is to keep track of the financial status of top bookies. Mergers, profit warnings and new legislation can result in sudden collapses, with unwary punters losing funds in their accounts. For more information about the current status of various popular UK betting operators, read our detailed bookmaker reviews.

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