BudgetBet clients paid out owed money
107 BudgetBet customers to receive more than 86 per cent of claim entitlement
- Funds processing to claimants began last month
- BudgetBet bookmaking licence surrendered in December 2024
More than 100 people owed money by former bookmaking agency, BudgetBet, have received funds exceeding 86 per cent of their claim entitlement.
In December 2024, BudgetBet’s operator and former bookmaker Kevin Wear surrendered his bookmaking licence to the Gaming and Wagering Commission (GWC).
A call for claims was issued in February this year, inviting former customers to submit claims for outstanding betting debts. As a result of the investigation, 107 approved claimants will receive 86.1 per cent of their claim entitlement.
The Department of Local Government, Industry Regulation and Safety (LGIRS) has processed the claims on behalf of the Commission. Approved claims were paid out using a $125,000 security deposit held by the Commission against Mr Wear’s licence.
Claimants who have provided the required information began receiving their funds last month.
Comments attributed to Lanie Chopping, Director General, Department of Local Government, Industry Regulation and Safety (LGIRS):
“The Gaming and Wagering Commission’s regulatory oversight has ensured customers recovered a significant portion of their debts.
“More than 99 per cent of the $125,000 security deposit was used to pay approved claims, while the remaining funds covered administrative costs and outstanding levies as required under the legislation.
“LGIRS and the Commission take reports of non-compliance seriously and this is an important outcome for those impacted.”