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WorldSpreads Players Owe Money

Recently WorldSpreads listed itself on the London AIM and has proven successful among investors because of the growing success and potential for future success. But now the media have latched onto the company’s ongoing litigation against two online casino WorldSpreads betting customers who owe the company over a million Euro in outstanding funds from unsuccessful spread-betting transactions. The company was forced to disclose this litigation because of its decision to list on the London AIM – and for that reason it has now made news that two players owe such large sums from failed betting activities.

Opponents to online casinos all over the world will undoubtedly look into the litigation and most likely point to addictive gambling tendencies as a reason that the players are indebted for so much. For WorldSpreads though following through with the litigation will only more securely position the online casino spread-betting company in the industry because Euro Million is a large portion of the company yearly reported revenue. Last year the company reported Euro 6.6 million.

The two online casino bettors owe WorldSpreads Euro 550,000 and Euro 519,000. The customer owing Euro 550,000 is still in the litigation process, and in the WorldSpreads document filed with the company reports that the Irish litigation began in October of 2005. As for the other online casinos bettor, “no defense was filed by the defendant and an application for judgment in default was duly made and granted by the High Court on 21May 2007,” according to the documents filed by WorldSpreads.

WorldSpreads is an Ireland-based company that is currently looking to spread into the international betting arena – this is what prompted the listing on the London AIM.