WBN (World Bingo Network) in Serious Cash Flow Problems
Posted on February 14, 2010 by John Trevors for Luckyroom.com
The popular WBN Network (World Bingo Network) host of a number of US facing online bingo sites including amongst others usabingo.com and desperatehousewivesbingo.com has been revealed to be facing serious cash flow problems after repetitive strikes from underground credit card processors which have caused the popular online bingo network valuable resources needed to maintain its online bingo operations live. Although the particular online bingo network is amongst the last facing US friendly online bingo networks and one of the busiest in its area; multiple strikes from underground credit card processors have brought it in a position where it is more or less running a business of Monopoly money.
It is worth mentioning that the sites hosted on their network are still fully operational as the US facing online bingo network has not yet revealed the unfortunate news to the public as inside information reveal that they are working on finding a solution on how to settle outstanding balances to sites rendering advertising services over the years. Today an email from their affiliate management team had been sent to all partnering websites in which the Israel based affiliate manager announced that he will be departing from the network as heat from partnering websites rendering services has increased and the particular employee did not feel that it is right and honest to continue trying to delay payments to third party site owners affiliated with the network.
Our administration has been forwarded an email from the ex-affiliate manager stating:
“Hi, With heavy heart, I am informing the best affiliates I used to work with that yesterday I quit my job at World Bingo Affiliates after 4 years (3.5 years of them were great). In the last 6 months, there have been some major cashflow problems at WBA, some processors disappeared with the money. I am being owed half a year of salary, affiliates are owed a lot of money as well, more than what WBA can pay or recover in the future.
4 days ago I was informed that the budget for affiliate payments for January is about 10% of what needed to be paid, as a result, I decided to stop working with WBA starting from Monday. The group doesn’t have an affiliate manager who take care of affiliates anymore, as a result, it’s a warning that many affiliates probably won’t be receiving a lifetime commission for the traffic they send.”
It is only obvious to say that this in return will have a major impact on bingo players that maintain an account with the site which are expected to see their account closed soon. Industry information had revealed this information approximately 6 months ago where at the time the claims were called false and just rumours coming from industry competition, but unfortunately the claims were ratified earlier this week when the particular affiliate manager had sent an email to all his partners which he did not want to put their finger on him when payments were not coming through.
After communication with the gentleman earlier in the day our representative managed to come to a brief communication which confirmed that the third party representative had quit his job as he was informed that funds were no longer available to pay for his salaries and more over affiliated sites balances. Processing fraud amongst online gaming operators still open to US players have been on a massive incline lately as more and more opportunists are realizing that the diminishing supply of regulated processing services for the remaining operators still accepting US players is a perfect opportunity to run an underground business which can more or less run away with processed funds due to inability of operators to take legal action due to the shady UIGEA regulation.
Players and affiliates that maintain accounts with sites hosted on the World Bingo Network including USA Bingo, Desperate Housewives Bingo, Bingo Workz and Bingo Tropic should reach out for more information at support and affiliate support respectively.
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