GoBetGo Sportsbook, owned by Sommerville Management Co. Ltd were a new betting company in 2013, licenced out of Curacao. Put simply, they did not last long. Unlike many new, small firms, GoBetGo offered very low margins on their sport, which appears to have been their undoing. With a small company, and low margins, the profits are not enough to cover the running costs of the company. Management cited payment processing and marketing costs as the reason for the company’s failure and during the period of November/December 2014, there was a large wave of withdrawals, which rendered the company insolvent.
It has been reported that players have lost €130,000+ with the firm and there is little chance of them recouping any of their money.