General Betting
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10 Jun 11
16:07
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Date Joined:
17 Sep 02
They've just emailed me but it went to my junk box so thought I'd highlight it to those of you who didn't know:
Closing your Extrabet account and opening your new Spreadex account
Dear Mr Peck
After careful consideration we regretfully announce that we will be ceasing our client-facing sports betting offering. Please be assured that we are taking this action for purely commercial reasons and that Extrabet (as part of IG Group) remains well capitalised.
In order to limit the inconvenience that this may cause, we have made an arrangement with Spreadex Limited, a leading provider of sports spread betting, fixed odds betting and binary betting, to open a new account for you.
What this means for you
Extrabet will continue to accept bets up to Thursday, 23 June 2011, although we will not be offering markets on any events that settle after 23 June. We will cease taking bets on any sports or other event from 10pm on Thursday, 23 June.
On Friday, 24 June, we will close your Extrabet account and Spreadex will open a new account for you. Your Spreadex account will have the same username as your Extrabet account and Spreadex will email you with details about how to activate your new account.
Any balance on your Extrabet account (positive or negative) will be transferred to your Spreadex account in accordance with our rights under the Extrabet Customer Agreement. Your new Spreadex account will be governed by the same terms and conditions that applied to your Extrabet account.
Like us, Spreadex will process your personal data fairly and lawfully in accordance with the principles of the Data Protection Act 1998 in the administration of your account. If you want your personal data to be removed from Spreadex's records please let us know.
Closing your Extrabet account and opening your new Spreadex account
Dear Mr Peck
After careful consideration we regretfully announce that we will be ceasing our client-facing sports betting offering. Please be assured that we are taking this action for purely commercial reasons and that Extrabet (as part of IG Group) remains well capitalised.
In order to limit the inconvenience that this may cause, we have made an arrangement with Spreadex Limited, a leading provider of sports spread betting, fixed odds betting and binary betting, to open a new account for you.
What this means for you
Extrabet will continue to accept bets up to Thursday, 23 June 2011, although we will not be offering markets on any events that settle after 23 June. We will cease taking bets on any sports or other event from 10pm on Thursday, 23 June.
On Friday, 24 June, we will close your Extrabet account and Spreadex will open a new account for you. Your Spreadex account will have the same username as your Extrabet account and Spreadex will email you with details about how to activate your new account.
Any balance on your Extrabet account (positive or negative) will be transferred to your Spreadex account in accordance with our rights under the Extrabet Customer Agreement. Your new Spreadex account will be governed by the same terms and conditions that applied to your Extrabet account.
Like us, Spreadex will process your personal data fairly and lawfully in accordance with the principles of the Data Protection Act 1998 in the administration of your account. If you want your personal data to be removed from Spreadex's records please let us know.
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Replies: 13
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shame, just about the only firm that haven't restricted me at all
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Will you be getting the opening a new account bonus ?
If not say you dont want to join - should they be passing on your details anyway ??? - and open off your own bat and get it, even better find a mate with an account there and split the £50 he`d get for referring you. |
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They must have swapped information about customers, because I already have an account with SPredex and my email just said they were closing, with none of that guff about opening an account with Spredex for me.
Cant say as I`m altogether happy about that. I thought confidentiality was guaranteed. |
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Surely that's against Data Protection laws?
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I'd contact the information commissioner about that if true.
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Does anybody know what will happen to outstanding bets which are settled later in the year like winner of Formula 1 championships. Will extrabet honour these bets or simply void them which would be quite unfair if likely to win.
Do we punters not have a contract with the bookie once the bet is accepted? |
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bought out by starsports
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The chap at Extrabet says he has been told to tell clients they can either close the bet or void the bet. He is not sure and advised to phone on Monday when the regular poeple are in the office.
Extrabet's customer agreement says in 23 (3) that "... any such termination will NOT affect any obligation which may already have been incurred by either party in respect of any outstanding bets...". So I cant see how they can avoid honouring bets. Clause 5 also specifies that "in placing any bet you are entering into a contract which is legally enforceable by virtue of section 335 of the Gambling Act" |
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not surprised these ****s are jacking it in everyone i know who had an account with them got restricted to the point of almost having to bet in pennies nobody will mourn their passing
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IG were down to 2.5% of total revenue coming from sports betting. Shows you where the money is! Profits so low, and margins so tight (by comparison), that it's not even worth bothering with for them.
Their financials spread betting business is truly a licence to print money. |
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.....Spreadex, the most spineless pathetic spread firm out there, don't even bother. Hope that helps destroy them!
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That will mean even less competition and tighter prices.Shame really as extrabet had plenty of unique markets
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Yes cant be good that they`ve gone, less choice.
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