Curacao licensed online sportsbetting site GoBetGo has announced that they have shut their doors, claiming low margins as a catalyst for the closure.
The site's operators Sommerville Management Co. Ltd announced the closure by posting to the GoBetGo website, writing:
"Our strategy to offer the best odds on the planet with very low margins did not prove to be a successful one, given the clientele we attracted and the payment processing and marketing costs we incurred. During the period of November/December there was a large withdrawal wave, which entirely emptied our company balances and as we stand, we are insolvent.
"Therefore, we deeply regret to inform you, that as of today we are effectively closing GoBetGo.com.
Sincerely yours, GoBetGo Management."
The closure will not sit well with players, who claim that the site owes players more than $130,000 in winnings. The site originally opened its doors in 2013, and is one of five betting sites owned by Sommerville Management that have failed. The other sites that have gone down the drain include: Ball2Win Live Dealer Casino, Bit455.com, OdinBet, and Ball2Win Sports.