BetWWTS - BetCORP Reaction to US Gaming Bill.

HerzvanRentle · Oct 11, 2006

Betcorp have just released a regulatory announcement to Australian Stock Exchange.

http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00655732

FatTony · Oct 11, 2006

I really don't get these places closing shop in liew of the new law. Did they think they were doing something legal before all this????

go2guy · Oct 11, 2006

Will futures still be honored or refunded?

TTinCO · Oct 11, 2006

Seems pretty vague to me-I wouldn't jump to any conclusions.

Think about it

VegasPlayer777 · Oct 11, 2006

Your confused and passing bad information. BetCorp. PLC or BetWWTS is licensed and regulated in Antigua and just happen to be publicly traded on the Australian Stock Exchange. Your message has nothing to do with US law or BetWWTS ongoing operations. For your information, I received the following e-mail from them this evening:

Thank you very much for contacting BetWWTS.

We are still accepting United States' Players. BetWWTS wants to assure you that we are legally Licensed and Regulated in Antigua. We are Licensed to offer our services to anyone in the World. Your experience at BetWWTS will remain unchanged in the foreseeable future. All Players' Account are 100% safe and you will have access to these funds on demand.

BetCorp. PLC or BetWWTS is aware of the Bill which was passed through the Senate. This Bill will limit the type of deposit and withdrawal methods that we offer and we suggest that our Customers open up a Neteller account if you don't have one already. We are in the process of taking advice on analyzing the Bill and its effect. BetCorp. PLC continues to operate in strict compliance with the laws of the jurisdiction of which it operates.

Get your facts straight.

fathead · Oct 11, 2006

Interesting that they think that Neteller will still be an option. That is good.

TTinCO · Oct 11, 2006

fathead said:
Interesting that they think that Neteller will still be an option. That is good.

Nice read

HerzvanRentle · Oct 11, 2006

The number of dumbfuck arsewipes on this board is truly astounding.

CHOPTALK · Oct 11, 2006

Herz van Rentle said:
The number of dumbfuck arsewipes on this board is truly astounding.

I agree, its getting out of hand.

Even if you misunderstood, all you were trying to do was help.

Very unhealthy attitudes going around this place right now.

VegasPlayer777 · Oct 11, 2006

These posters spreading wild and unfounded rumors are getting to me.

Classic group panic leading to hysteria...

BostonBettor · Oct 11, 2006

Not that this means anything, but the couple of times I have talked to someone at WWTS, they have indicated that the only thing that they see changing is the methods one can deposit and withdraw money to and from an account.

VegasPlayer777 · Oct 11, 2006

BostonBettor said:
Not that this means anything, but the couple of times I have talked to someone at WWTS, they have indicated that the only thing that they see changing is the methods one can deposit and withdraw money to and from an account.

Thank you. By the way, this is true of most of the solid books out there.

HerzvanRentle · Oct 11, 2006

What the fuck do you dumbfucks not understand. It's a new regulatory statement from the board of directors of Betcorp outlining their course of direction on presidential signing, to the Stock Exchange and their shareholders. The stock is currently down a 28% on this particular news.

But no you all prefer to listen to the word of some WWTS telephone operator. God almighty.

CHOPTALK · Oct 11, 2006

Herz van Rentle said:
What the fuck do you dumbfucks not understand. It's a new regulatory statement from the board of directors of Betcorp outlining their course of direction on presidential signing, to the Stock Exchange and their shareholders. The stock is currently down a 28% on this particular news.

But no you all prefer to listen to the word of some WWTS telephone operator. God almighty.

Good point.

If people would take the time to read your link, they would realize that someone is telling a lie.

The board of directors said in plain black and white that once the law gets signed they will no longer take bets from the US.

It does not take an attorney to read what was said.

Either the board of directors lied, or changed there mind. Or the customer service reps were told to lie to avoid a panic from the customers.

One way or the other, I think the poster at least deserves an apology.

cussin'it · Oct 11, 2006

Vegas Player 777 said:
These posters spreading wild and unfounded rumors are getting to me.

Classic group panic leading to hysteria...

Yeah, no kidding...just like that "I got it right, Pinella is the new Yankees manager" recently...

:lolBIG:

Brendanb438 · Oct 11, 2006

Where the hell do you see it saying they will no longer accept bets, or close US accounts? You are just spreading more BS and causing panic. The very vague statement says that once signed into law by the President they will no longer be able to accept funds transfers from customers in the U.S. This means no direct deposits like EFTs or what not. How you can read into this to mean anything else? The wording sure sounds to me like they are hinting more at allowing third party funding to still continue like Neteller.

Don't continue to spread the BS.

-Brendan

wrongturn · Oct 11, 2006

The regulatory statement always has to describe the worst case scenarios to avoid future shareholder lawsuit. It does not mean they have to do it.

mvbski · Oct 12, 2006

Betcorp to shut off US customers

LONDON (AFX) - Betcorp Limited has joined the flood of UK-listed online gaming firm planning to shut down their US operations once a bill outlawing web-based betting becomes law. Betcorp, which owns casino, poker and sports gambling websites, said it will no longer be able to accept funds transfers from US punters once US President George Bush signs the Unlawful Internet Gambling Enforcement Act, as he is expected to do in the coming weeks.
<SCRIPT type=text/javascript>loadAd('mpu');</SCRIPT>
Given that the US accounts for over 90 pct of revenues, Betcorp warned that the legislation left it facing a 'very material adverse impact' on future earnings.

'The board is exploring various possible courses of action in order to preserve shareholder value in the event that the Act becomes law,' it added. simon.duke@afxnews.com sd/slm

fido1905 · Oct 12, 2006

TTinCO said:
Seems pretty vague to me-I wouldn't jump to any conclusions.

Think about it

Absolutely right. The official announcement (to protect their arses with shareholders) says they will have to stop taking payments (not bets). Thus, there do not appear to be liers and no apparent conspiracy. Having said that, there is no clarity either, but I guess its about as clear as the US laws on online wagering...

WVU · Oct 12, 2006

Why is it so hard to believe that they are going to stop taking bets from US accounts when the bill is signed? You guys are perilously optimistic. I agree that you guys were way quick to jump on this poster. He deserves an apology as I read this to say they are closing up shop unless a miracle happens.

BetWWTS - BetCORP Reaction to US Gaming Bill.

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