Globet is Now a “Nobet”

This is the story of Globet Sportsbook, the place that made even the most old fashioned pen and paper street bookie seem sophisticated by comparison.

Rapid Decline

Globet had widespread issues from inception. The site was short staffed. They played angles and ignored their own terms to beat customers out of sums as small as €10, they slow paid and partially paid customers, and then finally changed their address before losing their gaming license. The site is now offline, and likely is never coming back.

SBR actually had Globet rated as a C- in the spring of 2006. That rating indicates a below average, slightly risky book. However, the rating only declined from there, landing Globet on the blacklist of books to avoid as well as the Bookmakers Review Red List. Here is the story behind that decline.

Understaffed Globet Takes Shots at Customers

Globet constantly took shots at its customers, and only seemed to do the honorable thing after customers complained, or third parties got involved, like SBR and other industry watchdog sites.

The first documented example was all the way back in 2006. A player had a bet on an Argentinean soccer match. The match was suspended before extra time (90 minute mark) and according to Globet’s house rules, all such bets would be refunded. However, the actual league rules dictate that the game was official.

Another issue that Globet had was trouble with accepting and confirming bets. Yes, you read that correctly. This book had trouble with the simplest of tasks for an online bookmaker. A customer wagered a mere €10 on an MLB game and had the bet canceled after it went final because the Globet software mistakenly counted the bet as past posted (late).

Apparently the site had some dates mixed up in its system and was using a different start time than what happened in reality. The player was eventually paid off, but this should have still been a giant caution flag going forward.

Globet was run like a total amateur operation.

At Globet, however, players were often left in the dark. The site would accept wagers after “business hours” but would have then listed as pending until the next day, leaving customers in limbo.

Players deserve to know right away if their wager has action or not, and not be subject to multiple hours of waiting to find out. Often, bets were settled after the game was over. Globet was well aware of these issues and actually told players not to wager until someone was in the office to manually confirm the bet.

When a bookmaker actually tells customers NOT to bet with them, that is probably the largest warning sign ever. The site also accepted losing bets on games after they had ended. Their software was a total joke and every bet required manual approval. However, the book did not have staff working 24/7 which caused all the problems and made existing problems worse.

Slow and Partial Pay Issues

On November 4, 2010, a customer reported a delay of over a week for a payout. [1] He stated that customer service simply acknowledged the request and would give an update soon.

Instead of simply paying out, the book had excuse after excuse as to why they couldn’t meet their own stated payout time frames of 2-3 business days. Many players were complaining about the slow pay issues at Globet, and by December 2013 the voices were getting too loud to ignore.

If Globet was having trouble meeting a withdrawal for $250, what would happen if someone won $5,000 or more?

Globet actually sent a player a partial payout in January, 2014. This is totally absurd. There is no reason for a sportsbook to ever make a payment for less than 100% of what is owed.

Making a partial payment reeks of the book acting like a Ponzi scheme, paying out only when it has funds available from new deposits or losing bettors. Honestly, a delayed and full payout is probably a better outcome than an immediate partial pay.

Final Nails in The Coffin

In February 2014, Globet finally succumbed to its mounting debt and years of poor customer service. Owing over $70,000 with its site offline, the company changed addresses, and then just days later ended up forfeiting its gaming license.

It was finally clear to all what should have been known all along. Globet was broke, and players were stuck waiting and wondering if and when they would be repaid. Maybe a partial payout isn’t so lousy compared to what the future likely holds for former Globet customers.

Red Flags and Lessons Learned

The lesson to learn from the Globet disaster is to watch out for signs that a book is acting shady, especially if they don’t have a long history. If the shop can’t get the simplest of tasks down such as accepting and confirming a bet before the game starts, there are going to be other issues.

Financially, your sportsbook should rarely if ever slow pay and if you ever hear about a partial pay, run for the hills and never come back. An occasional delay in payments for legitimate reasons (huge backlog during NFL season, loss of processors, or software upgrades) is acceptable, but a partial pay is not. Most reputable books are abundantly clear as to the reason for any payment delays.

A quick internet search is often a player’s best friend. Before depositing, check player reviews and complaints to see how the book operates. This can save you lots of trouble down the road.