8/10/2006 01:12 PM
SBR Bill Dozer reports: betonsports (sbr rating d ) to announce closure Inside sources tell SBR that
BetonSports Plc will close its US-facing Costa Rican operation. The announcement to shareholders is expected at 7:00 am UK time.
Update from Mall San Pedro: All hourly employees dismissed.
8.10.2006 (2:04:23 PM): Tomorrow’s shareholder statement said to reference disbursement of "player balances" within 60 to 90 days.
SBR will continue to pursue
further information regarding fate of player funds.
BOS Plc is expected to maintain relatively small Asian-focused sportsbook,
EasyBets (SBR rating D).
7/24/2006 06:13 PM
SBR reports from the San Pedro Mall: SBR interviewed
clerks outside the
betonsports (sbr rating d ) San Pedro Mall offices today, who said they were called back to work after a brief vacation. Although nothing should be concluded from this, it is encouraging news. Even more encouraging is that SBR has confirmed that new clerks, who are scheduled to start on the wagering floor this football season, are currently undergoing training.
"Now Hiring" signs remain outside of the sportsbook.
7/21/2006 09:59 AM
betonsports (sbr rating d ) remains closed. Update; eGaming Review is reporting:
David Carruthers’ lawyer requested a postponement of his bail hearing. The hearing will be held instead in the federal district court in St Louis, Missouri. No date was set.
7/19/2006 10:34 AM
betonsports (sbr rating d ) expected to be offline at least until the weekend. The sportsbook will confront the USA which issued an order for BOS to stop all transactions with US residents. The US has also ordered BOS to return all money to its US citizen clients. More information is available in the
SBR Player Forum.
7/18/2006 05:40 AM
betonsports (sbr rating d ) stock exchange trading halted as BOS’s board issues the following statement: From the BetOnSports Board of Directors: The Board have also noted that in a Press Release issued by the Department of Justice in the course of the evening of 17 July UK time, reference is made to a temporary restraining order having been obtained by the US Department of Justice against BETonSPORTS. The release states that a civil complaint has been filed in federal court to obtain an order requiring BETonSPORTS to stop taking sports bets from the United States, and to return money held in wagering accounts to account holders in the United States and that a temporary restraining order was issued yesterday. A hearing in the civil case has been requested within 10 days. Reference is also made to the FBI issuing letters to four telephone companies, instructing them to stop providing phone service to the Internet sportsbooks and casinos operated by BETonSPORTS.
7/17/2006 10:39 AM
betonsports (sbr rating d ) CEO arrested in Dallas on Organized Crime(RICO) related charges. The sportsbook has been accused by many players of theft and has received numerous SBR downgrades recently. Apparently these theft reports are not related to the current indictment according to eGaming Review.
9/21/2005 10:09 PM
SBR Bill Dozer reports: betonsports (sbr rating d ) customer files slow-pay complaint. The player reports that his account has been debited $2,000 for a Neteller payout that he has not received.
"I currently have a balance with them of 5,280. I called up Monday asking for a payout and some lady told me that they would call me back because they are still looking over my account because of some scores of games. Of course they never called me back. Ok next day which was Tuesday i get a guy from the payout department named Devin. He was a really nice guy he took my info. and he told me i would send me a neteller payout by midnight last night. Of course it never came. I called today and they were like it should have gotten there already meaning the Neteller payout. My account balance reads 3,280. I have no idea what is going on right now and i can’t even sleep."
UpDate 9/22/05: Player receives $2,000 payout via Neteller
6/4/2005 09:23 AM
SBR Bill Dozer reports: BetonSports fine print stings player for $2190. A
betonsports (sbr rating d ) player complains that two days after winning $4690 on a 2-team parlay, $2190 has been deducted from his balance. The funds were deducted because BoS lists the max payout for a 2-team parlay at $2,500. However, the software allows the player to risk more than what would net the maximum winning payout. Players who have lost a parlay with BoS should look to see if they are entitled to a partial refund on losses of wagers where winnings would have earned an amount above what BoS was willing to pay. SBR advises players to read all rule pages thoroughly.
5/25/2005 08:45 AM
betonsports (sbr rating d ) acquires Easybets (SBR rating C-). Easybets management tells SBR that the book’s staff will remain in place and there will not be any managerial changes. It is unlikely that players will experience any immediate changes in service. Easybets reportedly was acquired for 5 million in BetonSports Plc shares and $10 million in cash.
3/23/2005 01:02 PM
SBR Bill Dozer reports: BettorsTrust (SBR rating D) scamming players with bonus offer? Player reports receiving a free $200 parlay wager with his initial deposit. The bet won $600 and was added to his balance. Weeks later BettorsTrust management tells the player that they no longer want him as a customer and are closing his account. No other explanation was provided. The book confiscated the player’s $600 in winnings citing that he had not met the bonus requirement of being a customer for 30 days. BettorsTrust is part of the
betonsports (sbr rating d ) family.
11/24/2004 11:06 PM
In a filing made today to the London Stock Exchange: betonsports (sbr rating d ) admits total wagers (referred to as "handle") has fallen a shocking 27%. BetOnSports is paying a potentially lethal price for a business model that sought to bring in as many new players as possible while offering a bland sportsbook product along with some of the worst customer service in the industry. To lose 27% of betting handle in an environment where the players are doing pretty well is an ominous sign of what is to come. To make matters worse, BetOnSports also admits to being unable to bring in new clients due to new regulation that prohibits gaming ads. Is BetOnSports the Enron of the sportsbook industry? The extreme loss of recent betting handle will mean BOS will need to take immediate steps to cut expenses such as layoffs. Secondly, management needs to quickly focus on customer support, a long neglected area of operation at BOS. If BOS can not slow the quickly evaporating business, highlighted by the 27% drop in betting handle, and is unable to replace their declining business with new customers then we could see this operation imploding. We would anticipate the common stock to continue its slide which started yesterday with a 50% fall.
11/24/2004 02:21 PM
betonsports (sbr rating d ) stock share price collapses, down 50% today. Downgraded by SBR on 10/24/04 on reports of fraud and embezzlement of senior management, BetOnSports is again downgraded on reports they will lose millions of dollars in the current quarter and possibly for the year. Players should use caution as the situation with BetOnSports is likely to worsen before getting better, assuming it gets better.
6/11/2004 01:58 PM
SBR mail bag: Player reports
betonsports (sbr rating d ) that he is being slow-paid for $750, SportsInteraction (SBR rating D-) asking player to send in his Western Union deposit receipt
from January 2003, before they will process his payout. Complaints from Gold Palace (SBR rating F-) Internet1x2 (SBR rating F) Apex (SBR rating F+) and BetCSI (SBR rating D-) also continue to pour in.