BetOnSports closed for business?

[carlos vincente]

BOS staff was sure abt the hearing and they told me yesterday we will know everything for sure by wednesday.

guess they are going to do the same till august 14 now.
THIS IS SICKENING!

[SBR_John]

I agree with LGB. These guys have shareholders. What do they achieve by staying closed? Ahhhhh unless they are thinking about keeping all the postup money from the players??? These nice gangsters wouldnt do that would they?

[bigboydan]

the probly haven't reopened due to this company is a publicy traded stock. theres probly some sorta laws or something that is preventing it.

[Santo]

They certainly can't announce or do anything before they make a statement to the stock exchange, which shuts at noon eastern (5pm UK Time) I believe..

So you won't hear anything til tomorrow regardless..

[darkghost]

Does anyone know what's happening to the price of the stock or the symbol for BoS, so I can look it up myself?

[Santo]

Nothing, trading was suspended on it the day all this started.

[paul2650]

Can't understand why BOS just does not say 'Screw You' to the US & re-open as per normal.

Maybe they'd just rather stay closed and keep all the money.

Just making up numbers here.....

But suppose you owned a busines that showed a net profit of $2 million a year, but owed creditors $10 million?

Now you have a chance to go out of business, but keep the $10 million.....

And possibly reopen in the future under a different name or something.

[increasedodds]

One big problem was many people were not aware that BOS bought Millenium/Infinity/Rock and MVP/V-wager/Players-SB.

For years, I never once had a problem with the above, but heard numerous bad things about BOS. I have never played at BOS so have no independent opinion.

In any case, back when my site was up and functioning I included the above, but not BOS - never included BOS.

I did not figure out that BOS bought the others till about 2-3 months ago and at that point withdrew.

I am pretty on top of these things. IF I did not know, it is safe to say a large number of people did not know that BOS acquired these books about a year ago.

-Sean

[iceburgslim]

What is the number to contact someone at betonsports? I can never get through to anyone.

[JoshW]

Sean,

For someone who reguarly bets and who is so aware of the industry, I find it hard to believe that you didn't know Millenium/Inf/Rock were owned by BOS. Not that it makes much difference at this point. For most people I could understand. If you don't bet at half the books on the planet and read forums every day who would know, but for those who have been around the forums and even had their own site plugging these places hard to believe.

[Jameson5]

MVPSportsbook

Today I have discussion with girl/woman called Melissa from customer support at MVPSportsbook (part of BetOnSports empire) and she exactly told me:

We have suspended our services temporarily, we might be back in about 2 weeks. We do not have a specific re open date. The money is safe there is nothing to worry about.

So it will be month when MVPSportsbook closed business. I think it is better to start wagering at another sportsbook and forget about MVPSportsbook

[Bill Dozer]

BoS will certainly need to be very creative when/if they reopen their operation to US bettors. Obviously they will need to introduce some type of incentive to clients who currently have their accounts funded, in order to lessen the impact of the impending mass withdrawal.

There is a nice chunk of players that have no idea what is going on right now who will come back for football. BetOnSports is a great url and does a lot for retention. Although this is one of the few sportsbook issues that became mainstream news, if BOS can reopen soon they will have a heartbeat. And, for some who do know, they will come back regardless.

Another long-shot scenario is Sportingbet Plc getting involved. I'm not forecasting a merger but, can a very similar structured corporation afford to stand by and let this kind of vulnerability be exposed? Back in 04 Betfair bailed out SportingOptions mostly because the idea of a UK exchange being able to disappear was going to hurt long-term growth. They took the hit and the positive PR.

There isn't much more than speculation out there but I also think they plan to reopen. Many employees are applying to other books but BOS is still bringing a staff in every day. I also agree with Dan that being a public company has a lot to do with their actions. Most sportsbooks only asset is their player base and balances on depsoit. If this was any of the many other books offshore it wouldn't have changed anything. Being public gave the Feds something to latch on to.

If BOS does reopen, I'm sure this will all be brought up to support the argument that the company is accountable for what happened before they went public. That includes large balance holders who were stiffed. Much of the case is based on thing that occurred before they were a public company.

[SBR_John]

They need to open soooon or all is lost IMHO. Yes, Bill is of course right that many, many have not heard the news and would never know if BOS is up soon. Hence, they need to open...the longer they wait the chances increase for bankruptcy.

[carlos vincente]

today people in mvpsports said we will about the situation by the 14th. i am think they are still waiting for the bail hearing.

hey atleast the company is open and they are still paying them to answer the phone calls.

damn i feel cheated.. feel a bitter taste in my mouth.. should haven known this forum and only bet on top 10 sportsbook listed here.

[Bill Dozer]

The locals are looking at the 14th because the restraining order was extended until then. I wouldn't circle any specific day on the calendar at this point.

[Ganchrow]

As of August 1st, Bet on Sport is a 2-rated book at TOW.

This comes just 5 days after TOW's "temporary downgrade" of BoS from 10 to 5.

[marc]

Ratings don't matter much once the book is closed. They are taking deposits or making wihtdrawals, so whether you give them a 10 or a -10, it doesn't have any impact

[tacomax]

The higher they climb, the harder thay fall.

[carlos vincente]

i gave up on my money with mvpsportsbook.. i dont think they can do anything that can satisfy me as customer or anyone else

been way to long and the money is stuck. at the end.. all this just leaves bitter taste in my mouth. no point whining or cursing.. aint gonna get my money back..

should have bought couple of O's than betting on that stupid BOS, atleast i would have seen my money back.

publicly traded company? listed in london stock exchange? and what the hell these ppl at DOJ is doing? dont they know they are holding money from us guys??? if they really want to crack down..or do something for us citizen.. wont they ask them pay back??

sick! thats all.. going to be a month now.. my money is still stuck and no one can help.. no way to sort this out. we are dealing with bunch of dumb a++!

dont try to make sense or pacify me.. u wont be cool if ur money is stuck for month.. and i am not talking abt small amount.

JUST SICK!

[Mudcat]

Giving up on the money may be a sensible thing to do from a psychological point of view. i.e. - you can't be disappointed and can only be pleasantly surprised.

However realistically, the fat lady has not come close to singing on this case.

[Chuck Sims]

What sickens me, is the greedy, lying websites that promoted these crooks. Even offering $10,000 insurance guarantees that your money would be safe to counter numerous posts from posters who complained that BetOnSports/Millennium were stiffing them and stealing bonuses.

The $10,000 guarantee? That was just a lie to keep the money flowing into the criminal enterprise.

[WTFhappened]

Pending bets

I go out of the country for 2 weeks and all hell breaks lose. Okay, to my senior respected members... What should I be waiting for. I have about $1,000 in futures, World Series bets with BOS. Should I be asking for my money back? Is it gone? Is there a class action list I need to get on? Who can I inform? Is my bet going to be honored when this dilemna starts to clear up? I am very grateful for your help.

They need to open soooon or all is lost IMHO. Yes, Bill is of course right that many, many have not heard the news and would never know if BOS is up soon. Hence, they need to open...the longer they wait the chances increase for bankruptcy.

[bigboydan]

welcome to the sbrforum WTFhappend

Hopefully we will know info on August 14th, so please hang tight bro.

[Chuck Sims]

WTFhappened, Last month, a judge in the U.S. signed a court order for BetOnSports to return all players(American citizen's) balance. BOS has refused.

Why would BOS refuse to return money that does not even belong to them?

Why would BOS shut down their entire business? They say its because of the court order. A court order they now say is invalid.

This does not make any sense the moves BOS is making. Unless they don't have the players money. That would explain everything.

[SBR_John]

I go out of the country for 2 weeks and all hell breaks lose. Okay, to my senior respected members... What should I be waiting for. I have about $1,000 in futures, World Series bets with BOS. Should I be asking for my money back? Is it gone? Is there a class action list I need to get on? Who can I inform? Is my bet going to be honored when this dilemna starts to clear up? I am very grateful for your help.

Poster we are in a bit of a guessing game right now. I have said all along that I think BOS will pay. Your future bets are another thing and that could get ugly.

I do however believe that every day that goes by that they remain down is a mover closer to bankruptcy of some kind(real or just an excuse). We have said for years that these BOS's guys will screw players every chance they get. Well, they got a big chance this time.

[WTFhappened]

Thanks, I'll wait

I guess I should just start to think of the money as a lost bet and hope for the best. Thanks for your help and info I am bummed but will check this board every fews days for your expertise. If you do know andy phone numbers or people that I/we should be contacting in the meantime or in the future I would appreciate it.

[paul2650]

This does not make any sense the moves BOS is making. Unless they don't have the players money. That would explain everything.

They may have the money.

This may simply be a window of opportunity for them to keep it.

[Bill Dozer]

There are a lot of rumors going around CR and the internet right now. That is to be expected when you have a congregation of people sitting around BOS twiddling their thumbs.

SBR was at the BOS mall today to verify the little information available. BOS' staff is still there and, as of three hours ago, at least some of BOS marketing department is employed. Training sessions were still taking place today for new clerks (it should be noted that BOS does not have to pay clerks during training).

The rumors will be worse each day regardless of the eventual outcome. BOS execs might already know they are closing up shop but it's clear that their clerks and supervisors have not been informed.

[gamblingman]

From what you just said they are closing and not telling their clerks then why would they tell us lol. The rest of the books under the millenium umbrella like vwager and mvp will they be closing for good also and if we have money and pending wagers in the books do we take out our money?

[carlos vincente]

they be closing for good also and if we have money and pending wagers in the books do we take out our money?

DO WE TAKE THE MONEY OUT? U KIDDING ME?

the only way i am coping with this issue is i am thinking the money i had with them.. is gone. i am done worrying for weeks.. to much tension and bitterness.. and now i forgot abt the money and moved on.. thinking like its a bad bet.

if we get the money... i will say its luck. i gave up.

[Bill Dozer]

It seems most of the reported rumors yesterday were retracted or taken down. A lot of 3rd party sites are trying to capitalize on the BOS news by putting anything they hear on the wire. My advice is not to worry about the he-said-she-said and wait it out... or forget about it for now like Carlos V. is doing.

Check the PLc site or look for direct quotes from acutal named people. No one in the operational side actually can tell anyone anything. We will let you know if there is a moving van or if people file out. Good luck to you guys! There is still hope.

[JoshW]

Thank you for the physical site update Bill. I think many people have just moved to giving up hope they will be paid side of things. Makes it easier to ride out what will sure to be many rumors.

[Illusion]

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.

[Bill Dozer]

We are in a local press conference now with their lawyer. So far he is adamant that players will be paid but if there is any truth to it, he is suggesting it will happen months from now as originally mentioned.

[bigboydan]

i really feel bad for all these people that have there money tied up at BOS right now. i sure hope all the players get paid at some point though.