August 26th 2008 09:02 am
Bodog Is Worse Than Everybody Thought
BodogLife.com, known before as Bodog.com, has more problems than Morris Mohawk Gaming Group, the company’s new owners, are asserting. The processing of payment is getting slower and the number of employees that have left the company is decreasing quickly. With rumors the shell company was founded in Nevada for transferring funds and accounts of $24 million linked to Bodog and Zip Payments, the company has had no luck to find other methods to pay their customers. At present, the counterfeit Nevada’s companies are being thoroughly scrutinized.
In accordance with court documents, Bodog permitted the company to raise money and issue checks to US players won on the site. Hitherto, the IRS reports about $248 million involving entities connected with Bodog.com. The IRS started the investigation into financial actions of Bodog in 2003 and by 2006 it had enough data to open an official investigation. Just then the US government started to take measures on online casino gambling financial institutions, for example, Neteller and online gaming sites like Beton Sports. Bank and public records, informants, witnesses, and secret agents putting bets on football and gathering winnings were included in the inquiry.
This week Bodog dismissed 300 employees more. The Montreal’s office is already reduced to a skeleton crew. Their plans to break into the European gambling market has been foiled by shortage of UK advertising licensing and the fact that the companies don’t want to process payments for the internet casino.
Industry experts think that some of Bodog’s troubles have emerged because of their inability to hide.
How long Bodog can keep its head above the water remains only to wait for.
