The LazerWager website was an online casino, sportsbetting and live dealer website. LazerWager has only been operating for one year but has decided to cease operations. The website claims that processing problems were the main source of trouble. The site has stated that frozen funds of third party processors is why they must shut down the site.

The site put up a notice this week for visitors to read and understand the closing. The statement read:

“LazerWager regrettably announces that it will no longer be in operation. While every effort was made to continue operations for a second football season, LazerWager.com was recently informed by their remaining processor that their assets have been frozen and the processing company will no longer be handling any banking transactions.LazerWager.com management has been trying to work through these issues. However, several advertisers, affiliates and other vendors have expressed concern over LazerWager.com's ability to service players' accounts due to the processing issues that have recently plagued the industry.

The combined losses of assets, the ability to process payouts and deposits, and advertising and affiliate relationships have presented too great a challenge for LazerWager.com to overcome during the football season. While several better established sportsbooks affected by these banking issues have been able to cope with these obstacles, LazerWager.com does not have the means to continue to be competitive within the industry due to the loss of these business relationships.

LazerWager.com apologizes to its vendors, advertisers and, most importantly, its players, who will be receiving an e-mail regarding the status of their account. In order for this matter to be handled in the most efficient way possible, please direct any other questions or inquires via e-mail to CS@LazerWager. Be sure to include your name and account number.”
The site had received very bad reviews from online sports book reviewers as they were not paying their customers. Many are very angry now that the site has closed and worry they will not see any of their money.




- 2008-09-30