I believe it was similar. See it yourself if you have free time.
It's not similar at all. Livecoin confiscated user's full balance, not just winnings. Their TOS had a predatory clause about complaints (although this could be considered a matter of opinion). They failed to maintain and update their wallets, suffered losses (XMR and MONA), and forced users to pay for it. Had Sportsbet done something like this I'd have no problem supporting the flag.
I also must add, livecoin was a fine exchange up until that one incident. Things didn't go well only with one guy and they got painted bloody red all over, flagged, tarred and feathered. We will see how this one will go.
Again possibly a matter of opinion, but it wasn't a fine exchange. They had wallets disabled with no plan to ever re-enable them but allowed trading. This would be similar if Sportsbet could be proven to deliberately allow bets they don't intend to pay out but I don't see that here.