Check this out looks like BOS bites the dust

[thrasher]

BetOnSports Closes Down For Good and Cancels All Advertising Contracts
July 27, 2006

Just when we thought the news regarding BetOnSports couldn't get any worse, it appears that Bet On Sports may be closing for good. In a shocking development today, all sponsors of BetOnsports have been getting emailed or telephoned. The company is not only asking each to cancel its ads, but BetonSports is asking all for pro-rated refunds.

When we interviewed a spokesman named Freddie for BOS, he said, "We are trying to comply with the DOJ."

In my opinion, complying with the DOJ means they have no shot at reopening and BOS has just sealed the deal.

When asked why refunds haven't been sent out to worried customers, he said, "Don't worry. BetOnSports has all the money owed out to its members in a separate bank account but the means of sending it is much more complicated than you can imagine."

Another representative who we interviewed and asked for anonymity from Bet On Sports had harsher words to tell us. He said, "trying to deal with the DOJ is crazy. They are actually imbeciles and basically flushed this company down the toilet. This is really f***ked up, and is going to ruin the industry forever."

He concluded by saying, "this gives them a license to f***k around with anybody or any company they want."

EOG has also learned that some of the fugitives have extradition concerns and a couple of them met with their attorneys yesterday to address this issue.

At a time when the online gambling industry appears to be in the public eye, trust is paramount to survival. Therefore, it is paramount that BetOnSports pays out all of its customers, sooner rather than later.



-- Ken Weitzner (The Shrink)

[Scorpion]

BetOnSports Could Avoid Being Next Enron By Merger With PartyGaming, LadBrokes or Sportingbet
July 28, 2006

I love these idiots that just like to post on forums to draw attention. Some have suggested that BetOnSports is up for sale and the cost is one million dollars.

Well, I have visited this company personally, which is located in the San Pedro Mall in San Jose, Costa Rica. The club and spa alone cost over a million dollars to construct!!

If Bet On Sports just wanted to have a fire sale on its computers and telecommunications equipment alone, it's worth millions of dollars.

And keep in mind that not all of the population follows the episodes of "how the world turns" on message boards. BOS has built up a pretty sizeable following in clients over the years, just chomping at the bit to to post up for the upcoming football season.

Putting all of this aside, despite the dilemma they have with the US right now, they just can't turn around and sell even a lamp and table privately to anyone. The company is not owned by any individual. Even though it stopped trading on the exchange, at their own discretion, it is a publicly traded company owned by investors, ran by a board of directors, which have no ownership in the company besides the stock that they were issued or bought.

They can't just put an ad in the El Dia advertising to sell furniture and equipment of the company. If they attempted to do something like that the consequences would be far more severe than what the DOJ could possibly ever do to them. It would be fraud, and the British would be subject to capture and imprisonment in any country, as what happened to the Enron people.

Now there are scenarios that could arise, whereas another public company like PartyGaming, LadBrokes or Sportingbet could propose a merger with Betonsports or vice versa.

And that's something that would have to be approved by the majority of the stockholders. But why would a company do that now, having to pay an inflated price for what the company is now worth in its present state?

One of the reasons that BetonSports suspended trading on the stock exchange, and I'll repeat, they suspended trading on the market, it wasn't taken off of the market, was to prevent the stock from falling so low as to allow a hostile takeover of the company at pennies on the dollar.

This is exactly the reason why BOS wanted Kaplan to sell half of his 44% stock ownership in the company a year ago. If you were an investor you would not feel too good about owning stock in a company where the previous owner only needed the help of another stockholder with 7% or more interest to gain control of the company, if not by ownership, than certainly control of the every day policy.

Long term, this incident has put BOS in a very poor position, whereas if they ever reopened, and opened trading, many things could happen. The stock would initially plummet, level off at a point where investors would buy back at a "bargain" price thinking the same as I, that a takeover, sale, or merger could possibly be in the wind. I don't know if a sale could be made right now while the stock was suspended, but I would imagine it needs the ratification
of the majority of its stockholders.

However, some posters on forums have brought up an interesting topic in light of the fact that BetOnSports is now trying to recover this year's advertising funds. With all of the secrecy surrounding this event, one could only speculate as to what their plans are at this time.

Recalling advertising dollars from advertisers could be a sign of good faith directed to the DOJ, who all know they are negotiating with at this time, or perhaps to make the company a bit more solvent and palatable to another company that might be willing to take a "gamble" on BOS at this time.

Only the higher ups and attorneys behind the closed doors at Mall San Pedro know for sure as what the future lies for BetOnsports. It's sad, for some of these men are the most intelligible businessmen that you can find on earth, with so few options, and time ticking off the clock.





-- Ken Weitzner (The Shrink)

[ourbet]

When asked why refunds haven't been sent out to worried customers, he said, "Don't worry. BetOnSports has all the money owed out to its members in a separate bank account but the means of sending it is much more complicated than you can imagine."

Isn't that always the case!

[JoshW]

Ken is putting out an article a day on this issue and as best I can tell most of it is double talk just to get some Google News hits. You mean BOS building is worth more than 1 million? I am just shocked :rolleyes:

[Uncle B]

sounds like ken is just desperate for hits, and, angry that he lost a sponsor(s).


anyone think he refunded the money, as asked?



silly shiat, imo.. does nothing but shake the nest, for the players affected.



i have yet to read anything of merit about the situation on any forums, to be honest... but this making shiat up,
wrangling for hits, it's doing more harm than good, imo.



nowhere close to tow's idiocy though.. thats for sure.

[isetcap]

Is this the type of crap he puts up at his forum? How does he garner any respect with this type of swill? He makes the National Enquirer seem like National Geographic.

[homedog]

Is this the type of crap he puts up at his forum? How does he garner any respect with this type of swill? He makes the National Enquirer seem like National Geographic.

Yes, it is hard to comprehend. The sheep never cease to amaze..............

[carlos vincente]

so are they closing down or whats the news?
wait.. when comes to BOS guess no one knows.. only opinions~!

[ourbet]

so are they closing down or whats the news?
wait.. when comes to BOS guess no one knows.. only opinions~!

Absolutely carlos - I think you've hit the proverbial nail here squarely on the head!

[Dave]

You mean BOS building is worth more than 1 million? I am just shocked :rolleyes:

BoS doesnt actually own the building. They rent floors in the san pedro mall. I don't really think they thought about taking the pool out when they left.

[Scorpion]

BetOnSports Will Reopen In Time For Football
July 31, 2006

The fact that BetonSports chose not to send representation today at the hearing in St. Louis, Missouri is significant. And other than mentioning it, no one has tried to analyze what this means.

Something is going on.

Their actions today suggest that they will be up and running come football...guaranteed. You can take it to the bank!

BetonSports has had the most knowledgeable and prominent attorneys that money could buy from both the US and the UK come down to Costa Rica for private meetings recently in the San Pedro Mall located in San Jose.

And this publicly traded company doesn't send representation today to the hearing?

Wake up everybody!

Somebody has given BetonSports advice, and it already has shown up at the hearing, with a claim of non-sufficient service of the indictment to their corporate offices.

Does BetonSports bounce back with a counter suit claiming unjustifiable losses due to judicial malpractice, because of the threats from the DOJ, and the arrest of its CEO?

They HAVE to have something up their sleeves.

Perhaps they want Carruthers to achieve bail status first before they make any further negotiations?

In light of what transpired today in court, I'd bet a lot of money on BetonSports reopening before the kick off of the first regular season NFL game, and probably sooner.



Any comments or feedback about this article can be made here...



-- Ken Weitzner (The Shrink)

[isetcap]

Who turned on The Scooby Doo Show?

[Scorpion]

[B]Does BetonSports bounce back with a counter suit claiming unjustifiable losses due to judicial malpractice, because of the threats from the DOJ, and the arrest of its CEO?



-- Ken Weitzner (The Shrink)

WTF is judicial malpractice??

[Dark Horse]

WTF is judicial malpractice??

Isn't that where their pockest aren't as deep?

[carlos vincente]

the site has been closed for 2 weeks now .. football season?
try telling to the guys who have money stuck in that sportsbook.
who gives a damn if they are reopening during football season, we want our money now!

do u think any of us will actually stick around and continue betting in that sportsbook? for one i wont, the way they treat their customers and for 2 weeks now no one actually knows what is going on. thats all they can say it seems and wait.

they lost tons of good customers for sure. all we care is our money back. sooner will be better, football season is still far long and for sure none of us will be happy if our money is still stuck there for that LONG TIME!