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04th April, 2016 at 17:18:32
Source: http://www.azonlinecasinos.com

Isle of Man regulator confirms it has launched an investigation.

The confiscation of Cheltenham horseracing winnings by Isle of Man licensed online sports books 138.com, 12Bet, Fun88.co.uk and TLC Bet is being investigated by the Isle of Man Gambling Supervision Commission, the regulator confirmed Monday.

The bookmaking companies have claimed that they seized winnings due to "suspicious transactions" (see previous reports)

In a statement, the Commission said:

"The GSC will gather information from both customers and licensees in a two-stage inquiry expected to take some time.

"All parties have been promised an opportunity to state their case, and the Commission will make a recommendation to resolve the issue once all the evidence has been reviewed."

There has been no comment yet from Douglas-based Xela Holdings which operates some of the gaming brands.

Island police have been inundated with complaints and have referred complainants to Action Fraud, the national fraud and cybercrime reporting centre in the UK, Manx Radio reports.

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