Not every online casino makes it to become well known and popular like William Hill or Bodog.  Such is the case of LazerWager.com, an online casino, sports betting, and live dealer online gambling website.  Citing complex processing of player’s accounts for both deposits and withdrawals, the company announced that they will be shutting down their online gambling operations after only one year in the online gambling business.

The note on the website itself stated ‘LazerWager.com regrettably announces that it will no longer be in operation’.  It went on to cite that the management of the online gambling site attempted to continue operations during the professional and college football season, but they were unable to after receiving a note from the last processor they were affiliated with.  The processor, who has not been named, informed the website and its owners that all assets had been frozen and the processing company would no longer handle any form of banking transactions.

The site’s management had been attempting to work through the issues with their processors, but as they worked through one problem, others arose.  Advertisers, affiliates, and vendors voiced concerns about the company’s ability to service their player’s accounts with the issues concerning the processing of deposits and withdrawals.  This problem is not just an isolated incident with LazerWager.com.  It’s been an industry wide issue.

LazerWager.com contributed the loss of assets to the limited ability to process payouts and deposits, and the strain between them and their advertising partners and affiliates were enough to keep the online gambling site running through the 2008-2009 football season.  Most of the more established sports book sites have been able to cope with banking issues that have affected them, but LazerWager.com is not established or competitive enough at this point in time to be able to get over the losses they have incurred.

The management of the site has profusely apologized to everyone affected by their shutdown, including vendors, advertisers and the players themselves.  The players will be receiving upcoming e-mails regarding the status of their accounts and they ask that any questions or inquiries about the matter be directed to CS@LazerWager.com.  Players should make sure that they include their user name, their real name, their account number, and e-mail address in the body of the e-mail to aid the management staff in finding their accounts and providing them with a solution.  There is no word yet as to how the company will handle paying out their players accounts.