Media reports that Betshop's corporate accounts are seized by the Greek Tax Authorities. As a result, the parent company of Betshop (B2B Gaming Services Limited) is no longer able to pay the balances of thousands of clients. The seizure took place due to Betshop's debts to the tax authorities.
It is not clear what will happen with the players that kept active accounts in Betshop, but for now they are not able to login to their accounts.
We are watching closely.
Betshop corporate accounts seized by the tax authorities
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arbusers
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arbusers
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Re: Betshop corporate accounts seized by the tax authorities
Players find themselves in a never ending spiral with a Mary go round process where the company claims being able to pay IF the tax authorities release a frozen 0.5 mn account. In reality the players are kept as hostages by both ends.
It proves the Greek market is poorly regulated.
It proves the Greek market is poorly regulated.
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arbusers
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Re: Betshop corporate accounts seized by the tax authorities
The Mary goes around situation with Betshop accounts is still on going. We are watching carefully.
Greek Media reported the following table of confiscated balances. I am sure that a close inspection of this table will produce meaningful conclusions for the gambling industry in general, and would raise questions.
The population of Greece is approximately 10.5 millions and that means that approximately 1.7% of Greeks had an account in Betshop.
Betshop invested largely in marketing and their TV spots have been around in Greek TV in every major event. Obviously Betshop was never the biggest player in the country, but its blueprint was not insignificant.
Having known the Greek gambling sphere inside out, I am surprised that only 13 accounts kept a balance above 5000 euros. I m convinced the number of accounts of this size was counted in hundreds back in the 2010.
I am also surprised that Betshop was keeping just 500.000 euros as an operating capital to conduct payments of any kind.
Greek Media reported the following table of confiscated balances. I am sure that a close inspection of this table will produce meaningful conclusions for the gambling industry in general, and would raise questions.
The population of Greece is approximately 10.5 millions and that means that approximately 1.7% of Greeks had an account in Betshop.
Betshop invested largely in marketing and their TV spots have been around in Greek TV in every major event. Obviously Betshop was never the biggest player in the country, but its blueprint was not insignificant.
Having known the Greek gambling sphere inside out, I am surprised that only 13 accounts kept a balance above 5000 euros. I m convinced the number of accounts of this size was counted in hundreds back in the 2010.
I am also surprised that Betshop was keeping just 500.000 euros as an operating capital to conduct payments of any kind.
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- snake619
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Re: Betshop corporate accounts seized by the tax authorities
That’ is the newest betshop statement:
Justification for B2B GAMING SERVICES (betshop.gr) by the Greek courts.
What is the further collusion with the Greek public Authorities.
The Company B2B GAMING SERVICES (betshop.gr) was justified in the Greek courts, for the issue of freezing the customer bank account it maintains at Piraeus Bank.
The relevant decision (temporary order suspending execution of the individual notification of the Head of the (Tax Authority) K.E.M.E.P. No. A/A year 16-2021 with protocol number D.O.Y. 6999/22.4.2021), was issued on 6.8.2024, by the President of the 2nd Summer Section of the Athens Administrative Court of Appeal. (see interim order)
The Company's justification, for the release of its customers' money, comes after 3 (three) legal actions that it took over a period of one month, to defend the rights of its customers and against the Greek State, which suddenly and absolutely abusively blocked its customer account, as a result of which the Company was forced to suspend its operation in Greece. (see announcement and Press Release from 11.7.2024).
The money of the Company's customers could already be returned to the customers as of today, however, as of 31.7.2024, the Greek State had already withdrawn it from the Company's customer account!
In more detail:
The Greek State freezes the Company's customer account on July 9, 2024.
Clients' money is seized by the Greek State but has not been withdrawn in favor of the Greek State.
The Company files an appeal to the Greek courts against this action on July 15, 2024, and a Request for Suspension on July 30, 2024.
The Greek State "withdraws" the money from the bank account of the Company's customers on July 31, 2024, before the relevant court decision on the Suspension Request is issued!!!
The Company is justified in the Greek courts on August 6, 2024, with the issuance of a Temporary Order, but the customers’ account no longer contains the customers’ money, so that the Company can pay the customers!!!
It is noted that the Company is in close and continuous cooperation with the competent Authority, the Hellenic Gaming Commission (HGC), for the immediate solution of customers’ payments, and is working with further recommendations.
Victims of the legislative loophole, the absurd situation that customer accounts are not impoundable, which are anyway imposed by the legislator for the protection of players, obstructionism, and in general professional extermination which places the viability of B2B GAMING SERVICES in immediate and irrevocable damage, remain the Company's customers, one month after the seizure of the Company's customer bank account.
Going beyond our powers, given that we have already been forced to suspend operations in Greece, we will continue to defend the rights of the customers who have honored us with their choice, and we will not give up the fight to restore our reputation which has been vandalized for reasons that we are not in a position to understand, ignoring institutions and judicial decisions, and generally complicating issues which are anyway due to reckless actions of competent Authorities and victimize our customers.
Justification for B2B GAMING SERVICES (betshop.gr) by the Greek courts.
What is the further collusion with the Greek public Authorities.
The Company B2B GAMING SERVICES (betshop.gr) was justified in the Greek courts, for the issue of freezing the customer bank account it maintains at Piraeus Bank.
The relevant decision (temporary order suspending execution of the individual notification of the Head of the (Tax Authority) K.E.M.E.P. No. A/A year 16-2021 with protocol number D.O.Y. 6999/22.4.2021), was issued on 6.8.2024, by the President of the 2nd Summer Section of the Athens Administrative Court of Appeal. (see interim order)
The Company's justification, for the release of its customers' money, comes after 3 (three) legal actions that it took over a period of one month, to defend the rights of its customers and against the Greek State, which suddenly and absolutely abusively blocked its customer account, as a result of which the Company was forced to suspend its operation in Greece. (see announcement and Press Release from 11.7.2024).
The money of the Company's customers could already be returned to the customers as of today, however, as of 31.7.2024, the Greek State had already withdrawn it from the Company's customer account!
In more detail:
The Greek State freezes the Company's customer account on July 9, 2024.
Clients' money is seized by the Greek State but has not been withdrawn in favor of the Greek State.
The Company files an appeal to the Greek courts against this action on July 15, 2024, and a Request for Suspension on July 30, 2024.
The Greek State "withdraws" the money from the bank account of the Company's customers on July 31, 2024, before the relevant court decision on the Suspension Request is issued!!!
The Company is justified in the Greek courts on August 6, 2024, with the issuance of a Temporary Order, but the customers’ account no longer contains the customers’ money, so that the Company can pay the customers!!!
It is noted that the Company is in close and continuous cooperation with the competent Authority, the Hellenic Gaming Commission (HGC), for the immediate solution of customers’ payments, and is working with further recommendations.
Victims of the legislative loophole, the absurd situation that customer accounts are not impoundable, which are anyway imposed by the legislator for the protection of players, obstructionism, and in general professional extermination which places the viability of B2B GAMING SERVICES in immediate and irrevocable damage, remain the Company's customers, one month after the seizure of the Company's customer bank account.
Going beyond our powers, given that we have already been forced to suspend operations in Greece, we will continue to defend the rights of the customers who have honored us with their choice, and we will not give up the fight to restore our reputation which has been vandalized for reasons that we are not in a position to understand, ignoring institutions and judicial decisions, and generally complicating issues which are anyway due to reckless actions of competent Authorities and victimize our customers.
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arbusers
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Re: Betshop corporate accounts seized by the tax authorities
What a comedy!
A bookmaker is defending its gamblers from the state!
A bookmaker is defending its gamblers from the state!
- neopas
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arbusers
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Re: Betshop corporate accounts seized by the tax authorities
An announcement by EEEP is circulating around. In short, they say they will need time to set a mechanism that will finish with the verification of the accounts, and then possibly pay clients.
Frankly, it doesn't look good for a quick resolution.
Frankly, it doesn't look good for a quick resolution.
- Theo
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Re: Betshop corporate accounts seized by the tax authorities
Well It's easy to advertise tax free winnings if you limit winning players and if you hide taxes from the state....Betshop wanna save their reputation for sure,but they certaintly are in the wrong here!As for the Greek State,they did a haircut on their own bond holders when it was needed,they don't give a penny for people's money 
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arbusers
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Re: Betshop corporate accounts seized by the tax authorities
Persistent rumours are saying that another Greek bookmaker is under scrutiny from the tax authorities and it doesn't look good. This bookmaker has a much larger size than Betshop, and a significantly bigger marketing exposure.
- crowned
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You are not fair here. If you know the name you should say the name to protect your members.
Re: Betshop corporate accounts seized by the tax authorities
You are not fair here. If you know the name you should say the name to protect your members.
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arbusers
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- snake619
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Re: Betshop corporate accounts seized by the tax authorities
The refund process decided by the Hellenic Gaming Commission (EEEP) is as follows:
1. Review and processing of the data from the "Electronic Player Account" (HPA) to precisely determine the amount owed to each player, based on the available account data. This task has already been completed.
2. Development of an online application by the EEEP for the submission of requests by players, management of related information and data, and organization of the refund process. The application is scheduled to launch within the coming month.
3. Once the application is operational:
• The EEEP will arrange for a public announcement of the process start and send personalized messages to players of the HPA, for whom there appears to be an outstanding amount. Access to the application for submitting refund requests will be granted exclusively to these individuals.
• A specific deadline and identification method for submitting a refund request will be determined through the application.
• After the deadline and processing of requests, players who have submitted their requests on time will be individually informed of the amount owed to them based on the HPA. The EEEP will fulfill BetShop's obligations only for this amount, using the capital from the guarantee letters.
• In case of disputes, a process for submitting a documented request for re-examination will be established before the relevant EEEP Directorate, with a separate procedure, so as not to delay the refund process to players.
1. Review and processing of the data from the "Electronic Player Account" (HPA) to precisely determine the amount owed to each player, based on the available account data. This task has already been completed.
2. Development of an online application by the EEEP for the submission of requests by players, management of related information and data, and organization of the refund process. The application is scheduled to launch within the coming month.
3. Once the application is operational:
• The EEEP will arrange for a public announcement of the process start and send personalized messages to players of the HPA, for whom there appears to be an outstanding amount. Access to the application for submitting refund requests will be granted exclusively to these individuals.
• A specific deadline and identification method for submitting a refund request will be determined through the application.
• After the deadline and processing of requests, players who have submitted their requests on time will be individually informed of the amount owed to them based on the HPA. The EEEP will fulfill BetShop's obligations only for this amount, using the capital from the guarantee letters.
• In case of disputes, a process for submitting a documented request for re-examination will be established before the relevant EEEP Directorate, with a separate procedure, so as not to delay the refund process to players.
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