New BoS update on Site!

G.MONEY · Aug 21, 2006

Really nothing new, that we do not all ready know!

ETonSPORTS PLC

Update

The Board of Directors of BETonSPORTS plc announced that in the light of the Temporary Restraining Order issued by the United States District Court for the Eastern District of Missouri, and the related Indictment issued by such Court, and after thoroughly reviewing possible alternative business plans, they no longer consider the US facing operations of the Company, which are based in Costa Rica and Antigua, to be viable.

The Directors have considered the impact of this conclusion and now intend that the Company should;

1. cease its operations in Costa Rica and Antigua as soon as practicable;
2. pay any liabilities to staff and creditors in an orderly manner; and;
3. repay balances due to US customers in an orderly manner.

Items 2 and 3 above will take time and their successful completion will depend upon the Company’s ability to persuade banks and cash processors to release its funds. It also will depend on the Company’s ability to realize further and sufficient funds from its assets and operations outside Costa Rica and Antigua and to earn sufficient profits from operations which are not US facing.

The Directors are taking steps to ensure that the Company will not knowingly accept any wagering transactions from US based customers.

Further information will be posted on this website once agreements are in place with the relevant parties.

Rolltideroll · Aug 21, 2006

So Nice of them to keep us informed.At least now we have something different to look at.

RalphJ · Aug 21, 2006

Items 2 and 3 above will take time and their successful completion will depend upon the Company’s ability to persuade banks and cash processors to release its funds. It also will depend on the Company’s ability to realize further and sufficient funds from its assets and operations outside Costa Rica and Antigua and to earn sufficient profits from operations which are not US facing.

Lot of "ifs" aren't there? The writings been on the wall for a while now, now it's on their website. Don't think they're going to come straight out and say, "players, you're screwed". But that's pretty close.

koi · Aug 21, 2006

Will there be an RX apology for listing them as a platinum sportsbook?

BAGIANT · Aug 21, 2006

iS ANYONE HERE FROM cANADA OR ENGLAND? Can you get into their site or not? I mean they can't take wagers here, but they should be able to there.

wilheim · Aug 21, 2006

Will there be an RX apology for listing them as a platinum sportsbook?

I don't see that happening at all. You act like it is our fault that David Carruthers got pinched. We took them on (along with most of the rest of the Offshore Gaming Portals) in good faith and had no way of knowing something like this would happen. The Rx. will do it's best to help Rxers with deposits at BOS but right now the process is on a wait and see basis. Personally I am hoping that BOS does the right thing and pays it depositors - time will tell.

wil..

RalphJ · Aug 21, 2006

Sportsbooks advertise at sportsforums because they have traffic, and traffic from those that are their target market....gamblers. There is a responsibility by ANY business to their customers. Obviously many sportsforums haven't figured out that their customers are their members, and not the sportsbooks. Afterall, if a forum didn't have traffic, they wouldn't have advertising $$'s. Due diligence was not done, or if it was, worse yet, by many gamblers' forums, not sportsbook forums, in the best interest of their members.

I'm in brazil, and have a business here, just because it's the "norm" to participate in corruption here doesn't mean it's ok for me to participate as well.

fathead · Aug 21, 2006

Notice customer's balances are #3 not #1.

"3. repay balances due to US customers in an orderly manner."

If there is anything left after paying staff and creditors, then the customers get the crumbs. I wonder how many big bonuses or golden parachutes will be among the "staff".

wilheim · Aug 21, 2006

Due diligence was not done

Absolutely incorrect. The Rx. did do a serious amount of due diligence last July before accepting BOS as an advertiser, not to mention Millenium and VWager being here for several years, who could have forseen what happend in 2001 when we took on VWager. There is no way anyone (including any moderators or posters) could have forseen the event that took place this July (DC bust).. Do all the due diligence you want and it sitll takes you by surprise when the DOJ unseals an indictment.

I know Gary Kaplan has some issues but we were assured (turned out to be true) that he was not involved with BOS any longer at the time we accepted BOS as an advertiser. Unfortunately his past sins have caused many of us grief. Hopefully Rxers with money at the BOS family of books will get their funds returned soon.

wil.

sean1 · Aug 21, 2006

Wil, it is not therx's fault that DC got pinched, but it is theRX's fault that they took on a book (BOS) with multiple slow or no pays. With BOS's slow and no pay history combined with the amounts they spent on advertising, therx, had to know playing there was a risk. TheRX can either plead stupidity or greed, but it's one or the other.

And now, the exact same thing is occuring with SBG. Have they resolved all their no pays or are they ok because they are under new management or are acting differently?

-Sean

RalphJ · Aug 21, 2006

Well DC was working for BoS as of the year 2000. And BoS had a history of stiffing players, confiscating bonuses, and other activities that certainly couldn't be classified as principled while he was with the company.

Although GK's history has made things worse, DC making the decision to send BoS buses to recruit players and placing online wagers from the U.S. in both florida and missouri while being so vocal on capitol hill certainly didn't help matters.

The point is, with a sportsbook with a history as BoS had/has, why take the chance? The answer is obvious.:money8:

Hopefully one positive thing will come out of all of this, and that will be that these players forums will be exactly that.

wilheim · Aug 21, 2006

Sean

TheRX can either plead stupidity or greed, but it's one or the other

Wrong. The BW beard case and the so called Craig parlay case are the only two no/slow pay issues that existed when we took BOS on as an advertiser, both of those involved some very extenuating circumstances that are well documented. BOS had convinced The Rx. that they were very legitimate and had every intention of paying all derserving winners before we acepted them as an advertiser. Bottom line this is a business, when The Rx. accepted BOS it felt very confident that they would fullfill those intentions.

Natrually it is easy for you to sit at your keyboard and use 20/20 hindsight and make statements about people being either stupid or greedy. The truth is neither stupidity or greed were factors, The Rx. needs advertisers to exist but in today's Offshore gambling enviornment there are really no existing books where we can say with 100% certainty that some unforseen event in the future will not effect the way they operate.

wil.

aceduecetrey · Aug 21, 2006

wilheim said:
Absolutely incorrect. The Rx. did do a serious amount of due diligence last July before accepting BOS as an advertiser, not to mention Millenium and VWager being here for several years, who could have forseen what happend in 2001 when we took on VWager. There is no way anyone (including any moderators or posters) could have forseen the event that took place this July (DC bust).. Do all the due diligence you want and it sitll takes you by surprise when the DOJ unseals an indictment.

I know Gary Kaplan has some issues but we were assured (turned out to be true) that he was not involved with BOS any longer at the time we accepted BOS as an advertiser. Unfortunately his past sins have caused many of us grief. Hopefully Rxers with money at the BOS family of books will get their funds returned soon.

wil.

15% stock owner does not equal not involved in my opinion

ppeter · Aug 21, 2006

wilheim said:
Wrong. The BW beard case and the so called Craig parlay case are the only two no/slow pay issues that existed when we took BOS on as an advertiser, both of those involved some very extenuating circumstances that are well documented. BOS had convinced The Rx. that they were very legitimate and had every intention of paying all derserving winners before we acepted them as an advertiser. Bottom line this is a business, when The Rx. accepted BOS it felt very confident that they would fullfill those intentions.

Natrually it is easy for you to sit at your keyboard and use 20/20 hindsight and make statements about people being either stupid or greedy. The truth is neither stupidity or greed were factors, The Rx. needs advertisers to exist but in today's Offshore gambling enviornment there are really no existing books where we can say with 100% certainty that some unforseen event in the future will not effect the way they operate.

wil.

Well said.

sean1 · Aug 21, 2006

20/20 hindsite? In 10 years, although I've likely used 100+ books, I have never touched BOS. The day I learned they bought MVP, I withdrew my balance. I would not call that hindsite. Obviously I did not know the whole book would fold, but I did know BOS had no problem stiffing people.

Just a few months ago, there was a big debate about some guy stiffed $20K over bonuses. I don't know who was right or wrong. I don't trust BOS enough to know if what they said was true or not. The guy could have been a scammer. BOS could have simply made up the IP addresses/bets. I have no idea. I do know that even 2 months ago, long after theRX took BOS as an advertiser, BOS's rules were still incredibly vague and intentionally very difficult to understand.

Yes, it's a business, but in this case, the greed ran over the knowledge.

-Sean

sean1 · Aug 21, 2006

"The Rx. needs advertisers to exist but in today's Offshore gambling enviornment there are really no existing books where we can say with 100% certainty that some unforseen event in the future will not effect the way they operate."

This is true, but there are many online books where we can look at their past and say we know of no one being stiffed by this book.

And I would love to hear the reasoning behind why the BW beard guy should not be paid. If you allow the bets, you pay them. It isn't like BOS didn't notice the $100,000+ deposit!1!

-Sean

wilheim · Aug 21, 2006

15% stock owner does not equal not involved in my opinion

Kaplan simply owning some stock is a far cry from running operations like he did in the past. The truth is Kaplan has had no say in the daily operations at BOS for several years. While this indictement may be (partially at least) about him it focuses on events that happened in thoses years prior to his departure from BOS operations. Last July The Rx. was 100% convinced that Kaplan had absolutely no say in BOS operational policy.

wil.

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