You think the real reason BoS shut down was to prevent a run on the bank?

I do. Why else would they? What is stopping them from opening up and taking bets?

This whole mess is getting more and more aggravating. It is almost sickening when I hear someone say, " I see them opening very soon" Well, when is very soon. It is always, Friday, Tuesday, Saturday, by Monday.

Well, here is is again, another hearing came and went, and still no word.

Frustating to say the least.

BB

what i dont understand is WHY no lawyers were there to fight the court order. now we have to wait til aug 14th? i know in another posting that the judge wants to make sure that bos was served with papers "correctly" but in either case the US is not stopping payouts... ONLY US accepted wagers.
now ive already been on the phone with a rep and so far they havent received word about the extension, go figure. my next question was when you get the word of the extension you still cant accept BUT you can pay out. and the response.. they will only have payouts when the website is accessible again.. so i guess the waiting game continues.

No!

I agree with Ted.

bigbet1234 said:

I do. Why else would they? What is stopping them from opening up and taking bets?

Click to expand...

DOJ ordered them to suspend U.S. facing operations.

Board of Directors (in U.K.) decided to suspend operations.

BoD reasoning was likely something like 'oh shit, are we personally liable? I have a golf trip to Reno planned next month.' I highly doubt they even looked at a balance sheet or considered the liquidity risks of processing withdrawals.

However, obviously as a company they are not going to "give up" their customer base (by withdrawing everyone so they go post-up elsewhere) until illegality is actually proven in court. Innocent until proven guility, you don't concede the fight before it starts.

BB..I would think the answer is NO as well. If they did not shut down there are many out there that do not read the forums, so they would have no idea what is going on. By shutting down they have now made all there clients aware of the problem, which when they re-open will cause a run in my opinion.

I have to say, if this was a reputable sportsbook, they would pay the players who are calling for payouts. There is no law or order preventing them from doing that.

There will be a real run on this book if they do resume. It'll be interesting to see if they can cover all withdrawal requests.

Betch a buck even money, when they do resume operations, they'll issue an apology to the players and offer an extra 20% cash bonus if the player just agrees to another 8X rollover.

Later,
Books Worst Enemy

Not Showing up for court part of BetonSports legal stradegy.. <HR style="COLOR: #fdde82" SIZE=1><!-- / icon and title --><!-- message -->ST. LOUIS (Reuters) -- Several people indicted in the U.S. crackdown on Bet on Sports Plc pleaded innocent to racketeering and other charges Monday, while a judge extended to Aug. 14 her order barring the online bookmaker from taking U.S. bets.

Prosecutors had suggested extending the ban while they resolve questions about whether Bet on Sports was served with the charges legally at its offices in Britain and Costa Rica.

A defendant in U.S. criminal proceedings - whether a company or an individual - must be contacted directly by the complaining party. Prosecutors told U.S. District Court Judge Carol Jackson that Bet on Sports was served legally.

The company, three related Florida firms and 11 people were named in a 22-count indictment unsealed in St. Louis this month charging them with racketeering, fraud, tax evasion and conspiracy. Seven of the individuals pleaded innocent on Monday. All had been free on bond.

David Carruthers, the fired CEO of Bet on Sports who was arrested by U.S. authorities while passing through a Texas airport earlier this month, was to appear in court later on Monday.

The company once again did not send a lawyer to the court hearings in St. Louis, triggering questions about whether it would seek to defend itself or instead take a position that U.S.-ordered sanctions against it were unenforceable. So far, the company has complied with the U.S. judge's order not to take wagers from U.S. bettors.

The charges allege the company failed to pay U.S. excise taxes on more than $3.3 billion in wagers taken from U.S. bettors. The government said it seeks forfeiture of $4.5 billion, removal of U.S. access to Bet on Sports' Web sites, and the return of money held for U.S. account holders.

Prosecutors told Judge Jackson that a U.S. lawyer had advised Bet on Sports about whether to send a representative to court, but that the company had decided not to send a lawyer.

"By not coming to court, you can make the assumption that since we weren't served, we can carry on our business in a normal capacity," said Kevin Smith, a Bet on Sports spokesman, after the hearing.
Prosecutors had sought to make the ban on U.S. bets permanent, pending a trial.

Entering the not guilty pleas in another courtroom in St. Louis before U.S. Magistrate Judge Mary Ann Medler were Neil Kaplan, Lori Kaplan-Multz, Tim Brown, William H. Lenis, William L. Lenis, Manny Lenis and Monica Lenis.
The Kaplans are related to Bet on Sports' founder, Gary Kaplan, the subject of a U.S. arrest warrant, while Brown once held a low-level position. The Lenis family members held positions with Florida firms involved in the online betting operation.
An attorney for one of the Florida firms, DME Global Marketing & Fulfillment Inc., entered a not guilty plea, while two other companies did not enter pleas.

not to USA players they wont

This is a 1-3 year thing. Not gonna change in a few weeks... Mark my words... If you see money it will be in Years.

The BOD will not reopen BoS without 'permission' from court. This is ALMOST for sure due to the fact that any of their memebers in UK can be shipped and indicted in the US as well.