I feel very bad for those who had large balances at BOS family of Sportsbooks. I had a small balance but life will go on for me. However I feel that a lot of people are writing way too much into this developement much to the delight of DOJ officials. One must keep in mind that the DOJ has had the crosshairs on these guys going back to the early 90's. If they had kept their pinkies off of US soil I feel they would still be untouchable. If anything, this developement will make other Sportsbooks far more careful in the future. Some of the other Sportsbooks have already showed this by cancelling their phone wagering lines. The real danger I still see is perhaps this action may actually help the passing by the Senate of the Internet gambling Bill. If this Bill does not pass, it will be business as usual IMHO
This arrest has had a much bigger effect than the passing of the proposed bill would have. The DOJ has to be more than excited about the effect it has had.
I can't believe how many people believe this is due to the recent bill. All of the situations they discuss in the indictment are from 2-6 years ago. They were targetting Kaplan regardless of whether or not this bill passes.
I can't believe how many people believe this is due to the recent bill. All of the situations they discuss in the indictment are from 2-6 years ago. They were targetting Kaplan regardless of whether or not this bill passes.
What Clipper said! The problem is seperating the two currently given the recent House bill passing, who can blame anyone for being a little paranoid....If you really look at it though it had nothing to do with the bill.
And of course the players who are anxiously awaiting when they will be paid...
And of course the players who are anxiously awaiting when they will be paid...
Also look for BOS to be de-listed from the AIM board in London...after this fiasco they will not let them back in...JMO
Some info from the Times report on Friday....
When David Carruthers joined online gambling firm, BetonSports.com, in the summer of 2001, his job was to get the company trading publicly in London. He succeeded in doing so but not after some initial obstacles.
The first attempt resulted in a denial due primarily to the company founder's chequered past.
The Times of London disclosed on Friday that EVOLUTION SECURITIES, the stockbroker that advised BetOnSports on its flotation on the Alternative Investment Market in 2004, was closely questioned by AIM regulators about the online betting company’s suitability as a public company. "A spokesman for Evolution confirmed Thursday that it had been questioned on BetOnSports’s AIM listing by the regulators. “They had full and open discussions with AIM and they seemed happy with the details provided,” he said. The Times also confirmed that at least one other banking institution had turned down the BetonSports floatation.
Evolution is known for being accident-prone, according to The Times report. In November 2004 it was fined £500,000 by the FSA for market abuse after short-selling shares in a quoted shell company, Room Service Group. Last year the broker achieved notoriety with its involvement in Regal Petroleum, a client, for which it raised £44.8 million in a placing just three weeks before the shares collapsed.
Some info from the Times report on Friday....
When David Carruthers joined online gambling firm, BetonSports.com, in the summer of 2001, his job was to get the company trading publicly in London. He succeeded in doing so but not after some initial obstacles.
The first attempt resulted in a denial due primarily to the company founder's chequered past.
The Times of London disclosed on Friday that EVOLUTION SECURITIES, the stockbroker that advised BetOnSports on its flotation on the Alternative Investment Market in 2004, was closely questioned by AIM regulators about the online betting company’s suitability as a public company. "A spokesman for Evolution confirmed Thursday that it had been questioned on BetOnSports’s AIM listing by the regulators. “They had full and open discussions with AIM and they seemed happy with the details provided,” he said. The Times also confirmed that at least one other banking institution had turned down the BetonSports floatation.
Evolution is known for being accident-prone, according to The Times report. In November 2004 it was fined £500,000 by the FSA for market abuse after short-selling shares in a quoted shell company, Room Service Group. Last year the broker achieved notoriety with its involvement in Regal Petroleum, a client, for which it raised £44.8 million in a placing just three weeks before the shares collapsed.
I respectfully disagree because as I just stated it will be more or less business as usual with the main result being that other Sportsbooks will be far more careful in the future and they will keep their pinkies off US soil. Of course if you had large sums at BOS it will not be business as usual !Clip Joint said:
However the danger if the Bill passes in the Senate is that the Bill will go after the internet providers and make them or attempt to make them block out the providing of Internet connections to any sites that provide gambling. This seems to be a far bigger problem than how to handle the financing as there seems to be plenty of options there if you really pursue them. JMHO
I see the BOS saga as being of far less long term impact than what would happen if the Senate bill passes. Perhaps I misunderstood your post but you seem to indicate the opposite. Maybe i just read wrong ! .... Would certainly not be the first time... nor the last time either I'm sure ! :toast: :lolBIG:Clip Joint said:
Dunb Question but what if.
What if this plays out to the ban online gambling and he book decide to close all US accounts and keep all the player money? Will it hurt the books? No because they will have lost the US players and who cares what they think about them now they can not play anymore. Just a thought never Knew a bookie that would fell guilty if they stiffed you if they knew it was the last time you were going to play with them.
What if this plays out to the ban online gambling and he book decide to close all US accounts and keep all the player money? Will it hurt the books? No because they will have lost the US players and who cares what they think about them now they can not play anymore. Just a thought never Knew a bookie that would fell guilty if they stiffed you if they knew it was the last time you were going to play with them.
