Good News: BoS agrees to turn over your gambling records to the Feds

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BetOnSports to shut down U.S. operations
By Robert Patrick
ST. LOUIS POST-DISPATCH
11/09/2006

BetOnSports, once one of the top worldwide Internet gambling companies taking in more than $1 billion per year in bets from U.S. gamblers, agreed this morning to permanently shut down its U.S. operations, including phone lines and Web sites, refund the money still in customer accounts and cooperate with government investigators.

The company did not admit or deny the charges, but federal prosecutors said BetOnSports accepted bets over the phone and online even though they knew it was illegal. They also lied to customers when they said gambling with BetOnSports was legal.

BetOnSports and associated companies took in $4.6 billion in bets from 2002 to February 2005. In their most recent annual report, the company boasted gamblers placed 2.1 million bets over the phone, at an average bet of $201, and 7 million bets online at an average bet of $72. Gamblers’ money flowed in through wire transfers, check and credit card over 71 toll-free telephone numbers and dozens of Web sites.

As part of the order signed by U.S. District Judge Carol E. Jackson in federal court in St. Louis, the company will have to set up toll-free telephone numbers to tell customers how to get a refund and place prominent warnings to consumers on their Web sites that online gambling is illegal in the U.S. Advertisement

Within seven days, the company must also give federal investigators a list of their financial assets and company records.

After BetOnSports then-CEO David Carruthers was arrested in the Dallas-Fort Worth airport in July on the way to his home in Costa Rica, civil and criminal charges were revealed against the company, its employees and associated companies and employees.

After a court hearing earlier this week, Jeffrey Demerath, a BetOnSports lawyer, said the company was trying to work out the criminal charges
 

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7 days and counting before the feds have your records:

Within seven days, the company must also give federal investigators a list of their financial assets and company records.

Wonder if they'll look at the larger transactions and compare notes with the IRS?
 

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list of all affected BoS books acording to osga....


007Bets - www.007bets.com
BetOnSports - www.betonsports.com
BettorsTrust - www.bettorstrust.com
Beverly Hills Bookie - www.beverlyhillsbookie.com
EasyBets - www.easybets.com
Gibraltar - www.bettherock.com
Infinity - www.betoninternet.com
Jaguar Sports - www.jagsportsbet.com
Millennium Sports - www.betmill.com
MVP Bets - www.mvpbets.com
MVP Sportsbook - www.mvpsportsbook.com
Players SuperBook - www.players-sb.com
PopularPoker-Sportsbook - www.popularpoker-sportsbook.com
RockIsland Sports - www.rockislandsports.com
Virtual Bookmaker - www.virtualbookmaker.com
Virtual Sportsbook International - www.betvsi.com
Virtual Wager - www.virtualwager.com
V-Wager - www.v-wager.com
Wager Mall - www.wager-mall.com
 

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wonder if it will be public information? If so we can find out how much a platinum sponsorship is going for..
 

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i highly doubt the govt would release any info to the public, but if you have won huge amounts of $ from one of the above books and did not claim it on your taxes you may want to prepare ur self for an audit to be on the safe side.
 

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so buddy ,the sky is falling again? well at least we are all used to that by now around here
 

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what are the chances the feds go after all the BoS affiliates that earned a % of losses?

Do you think the Feds will first:

a. press charges against the affiliates and then check with the IRS

or

b. Check with the IRS and then press charges
 

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eric_78 said:
i highly doubt the govt would release any info to the public, but if you have won huge amounts of $ from one of the above books and did not claim it on your taxes you may want to prepare ur self for an audit to be on the safe side.

I agree.... That will probably be the outcome.They will pick thru it with a fine tooth comb find winners and will probably make their move on them by turning it over to the irs.
 
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eric_78 said:
Within seven days, the company must also give federal investigators a list of their financial assets and company records.

Have they said a single word about turning over player info? If the above sentence is all your basing this claim on, I think you're getting ahead of yourself.

I would take the statement to mean financial statements, banking documents & other items pertaining to their liquidity.
 

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TTinCO said:
Have they said a single word about turning over player info? If the above sentence is all your basing this claim on, I think you're getting ahead of yourself.

I would take the statement to mean financial statements, banking documents & other items pertaining to their liquidity.



Would lean towards this conclusion more than not.
 

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im not 100% sure players info will be included but i would believe so.....i have also seen some article that claimed as much but it was from TOW.
 
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Yeah, I'm sure they want the info-but I think they're much more interested in finding billions of $$$$ of assets to seize, at least for the time being.
 

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