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Online Casino Needs More Capital

The Betbrokers online casino betting group has announced that while the company is not shutting its doors, there are certain bets that the company is unable to process at this point Betbrokers has operated in the internet betting industry in the UK for the past four years and specifically targets high-roller bettors. In just the past few weeks though, the number of bets that gamblers at the company’s online casinos are looking to place exceed Betbrokers capital. With that in mind though, the company has no plans to close its doors and will instead look into raising more capital, which will then cover the bets.

As for the amount of capital, according to Betbrokers, the company will need between GBP 1 and GBP 2 million in order to cover all of the high roller bets at placed through the online casino gambling site. Much of the gambling groups early success in the stock market collapsed as the dot.com industry’s bubble popped. From that point, Betbroker has been in a tricky position – operating and successfully recovering from the decrease in market value with less readily available capital.

The CEO and Chairman at Betbrokers, Wayne Lochner, was very positive though about the online casino gambling group’s potential. Lochner comments, “We're not going to close down. We're the victims of our own success. We are being offered more business than we can currently execute. We have to find a way of increasing our capital so we can clear the transactions.” Some of the capital will be raised from new sources, other than the company’s previous loan.