Troubled online sportsbook bought by venture capital fund

The BetMayor online sports betting operation, which has been the subject of slow-pay punter complaints and a controversial decision to confiscate a player’s $51,000 winnings for “professional Blackjack play” has apparently been acquired by Panama-registered venture capital firm Media-Tech.

Management at BetMayor advised players by email Monday that the company has been acquired for an undisclosed consideration, and assured them that all player balances will be honoured.

The email advisory was confirmed by a communication from Media-Tech which claimed that the fund has acquired in all 3 online sportsbooks and 2 online casinos, although it did not identify these or give any other details.

Whether this change of ownership will assist the BetMayor punter out $51,000 remains to be seen; so far he has been treated with rather autocratic disdain, but he is still fighting for redress.

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