Highly regarded internet sportsbook Legends Sports has shut its doors after its betting license was revoked by Panama gaming regulators.
The move comes one week after the U.S. government conducted a large scale gambling raid which shut down several American bookies who were working in conjunction with Legends.
A notice on the company's site read:
"Effective April 17,2013 you will no longer be able to bet with Legends Sports."
"We are in the process of negotiating to have an A rated sports book assume the (player) balances. We would like to assure you that all funds are perfectly safe and secure."
"Any unsettled bets will be honored and settled by the provider assuming your account. All customers will be receiving email instructions on how to activate accounts within the next 24-48 hours."
"We thank you for your loyalty and know that you will be in very good hands with your new provider.”
According to the popular sportsbetting website Sportsbook Review, any players who are transferred to a new book would be required to execute a 2x playthrough before they are allowed to withdraw their money, although this news has not been verified. Prior to shutting down, Legends held an A+ rating through Sportsbook Review.