The popular sports betting application PropSwap recently made a mistake when it failed to pay out a supposed $37,000 winning. One enthusiastic seller was expecting to collect on his futures wager and purchase something nice. But when the money showed up in his account, it was far less than expected – not even half of what he thought he had coming.
Needless to say, the user was very upset. He went on social media to express his frustration and let others know of the deceptive situation. Apparently, PropSwap was not sufficiently clear about how much tax would be withheld from the payout. This caught more than a few PropSwap users by surprise, those who use the service to buy and sell unused bets. They began to complain as well that the fine print terms and conditions were inadequate.
Luke Pergande, the PropSwap chief executive, took responsibility and acknowledged the mistake. They did tell the user about taxes, Pergande said, but should have ensured he fully understood. Pergande backed up his words with action. Under a legal precedent, PropSwap would not have been legally compelled to release any funds. However, the company paid the full $37,000 out of their own funds to make things right after the error.
Pergande said they want users to feel that if something goes wrong, PropSwap will support them. This goes a long way toward correcting the mistake quickly. We believe that accepting responsibility is admirable. However, they need to clarify the fine print terms and conditions to prevent this from happening again.
Editor-in-chief and creator Cole Smith of casinocurrencies.com, has extensive experience with casino payment systems, The site was created to provide an honest and trustworthy resource for online gambling players.