Will betonsports pay?

Rolltideroll · Nov 10, 2006

Does anybody have any more hope now then they did a week ago?
I guess a little hope is better than no hope.Are they going to obey all the DOJ orders EXCEPT paying the players?
Any guesses?I know almost everybody here will say No way they pay,but if there is any optomism out there then I would love to hear it.I could use some.:cryingcry

WVU · Nov 10, 2006

I have written off my balances at BOS. Swallow it like the rest of us have.

eric_78 · Nov 10, 2006

I honestly think we will get something back, although i doubt they will cut cashiers checks becuase BoS is now admiting again they do not have the money to payout. They said in a statement yesterday that customer refunds will depend on their ability to recover funds owed to them. I think its more likely we wil be moved to another company in time.

theticket_22 · Nov 10, 2006

oh science, not another bos thread.

eric_78 · Nov 10, 2006

here is the official press release from BoS today...

BETonSPORTS plc
Update

The Board of Directors of BETonSPORTS plc, the on-line gaming company announced today that it has reached agreement with the United States District Court for the Eastern District of Missouri on the form of a Permanent Injunction relating to its US facing businesses. This replaces the Temporary Restraining Order (TRO) issued on 17th July 2006 with which BETonSPORTS plc also complied by ceasing to trade in the US.

While the Company has agreed to the Permanent Injunction, it is important to note that this has been done without the Company admitting to or contesting any of the allegations contained within the Complaint. The Company is an investment holding company and has not itself undertaken any gaming activities. Furthermore most of the alleged offences in the Complaint took place before the Company started to trade in July 2004.

The Board has agreed to accept a Permanent Injunction:-

on the basis of legal advice in the USA and the UK;

as it is seen as a major step in the negotiation to settle the outstanding criminal action against the Company;

so that it can concentrate on trying to deliver some value for shareholders from its continuing Asian operations.

The Company has, as a result of this order, stated:-

That following on from its announcement of 11th August 2006 and having complied with the TRO the Company it is completing the closure of its Costa Rica and Antiguan operations;

That its Antiguan subsidiary continues with its efforts to repay customers although this remains dependant on collection of monies from processors and other debtors;

It will, as part of the Permanent Injunction, agree a plan with the DoJ for its Antiguan subsidiary to pay customers based on money recovered.

As stated in our announcement on the disposal of Hooball today, BETonSPORTS plc other Asian facing brands continue to trade normally and the Directors continue to assess the options for the business.

Negotiations with the DoJ continue with the aim of eliminating the criminal charges against the Company.

- Ends -

Citigate Dewe Rogerson
Ginny Pulbrook
+44 (0)20 7282 2945

Celtic Communications (USA)
Kevin Smith
+1 314.623.2734
kevin@celticom.net

buddyboy · Nov 10, 2006

wheew! that is good news it is not BoS that is not paying, it is the Antiguan subsidiary that is screwing everyone over.

That its Antiguan subsidiary continues with its efforts to repay customers although this remains dependant on collection of monies from processors and other debtors;

It will, as part of the Permanent Injunction, agree a plan with the DoJ for its Antiguan subsidiary to pay customers based on money recovered.

WVU · Nov 10, 2006

so maybe they are holding out on paying until TheRX refunds them for unused advertising.

just kidding...sort of

mj23 · Nov 10, 2006

WVU said:
I have written off my balances at BOS. Swallow it like the rest of us have.

Suppose you are like some women and you dont swallow then what??

WVU · Nov 10, 2006

mj 23 said:
Suppose you are like some women and you dont swallow then what??

Well I guess then I would start 468.5 threads asking about our chances of getting paid by BOS. I lost my ass. I mean really LOST MY ASS. Probably more than most everyone here combined. I hope we get paid, but I am realistic.

queposkid · Nov 10, 2006

I dont believe anyone will be paid..This was a terrible incident, and one that will forever be remembered in the offshore industry..Doesnt matter who you are, a run on the bank is a disaster for all involved..BOS felt the faucet would always be turned on..Execs ran for the hills, and the head was cut off..For those who are owed $$$, look to the future and move on..It sucks..No doubt..

mj23 · Nov 10, 2006

Take a deduct on taxes sounds like a charitable organization but better just go with initials to play it safe BOS ok thats it BRITISH ORTHODOX CHURCH!!

SamOdom · Nov 11, 2006

I know I will be seen as a 'bad guy' for this :

Will Marty make good on his personal guarantee of BoS deposits?

Or was he just kidding ?

syddiggers · Nov 11, 2006

I love the "That its Antiguan subsidiary continues with its efforts to repay customers although this remains dependant on collection of monies from processors and other debtors "

Will this work if I was to lose money at Pinny and win money at Olympic and tell Pinny that I will pay them when I get paid from elsewhere? I dont think so. What a crock!

TOW · Nov 14, 2006

It may not get you paid, but filing a complaint with the Antigua Directorate of Offshore Gaming leaves an official record of your account balance.

As many of you probably know by now, Antigua is where BETonSPORTS was holding its gaming license.

Kaye McDonald, Director of Gaming in Antigua recently stated:

“The suggestion that the FSRC has failed to exercise its regulatory responsibility is incorrect. The Commission has been in direct contact with BOS Ltd. since it learnt of the US Department of Justice action against BETONSPORTS Ltd., and has subsequently taken regulatory measures, in accordance with its laws, to address any consequential matters that may arise as a result of the decision of the Board of Directors of Betonsports Ltd. to discontinue and close down its business operations in the USA.

“The Commission has further authorized an examination and audit of the company, with a view to ensuring that the process of closing down its US operations, including meeting its financial and other obligations, is carried out in accordance with the laws governing Interactive Gaming and Interactive Wagering Regulations.”

Complaints with the Directorate of Gaming may be filed at this link:

http://www.antiguagaming.gov.ag/complaints.asp

Please be detailed with filing your complaint but avoid any rudeness or
disrespectful comments. While your frustration is understandable, bad words won't help. Please note that some players reported having to file the complaint twice due to server error messages. Patience is required.

Seymour · Nov 14, 2006

I do not have any funds at any ofthe BOS books - but why don't people try to get in touch with the prosecutors in this case - via phone calls and mail - they are not going to investigate you - tell them that BOS has stolen your money - and see if they can presure BOS into paying - they certainly can make stipulations that BOS must live up to.

billthecop · Nov 14, 2006

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bill the cop

[FONT=Arial,Verdana,Helvetica]Posts: 962
Joined: Jun 2004[/FONT]
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Hi William,

We apologize for the delay in getting through on the toll-free number. There are only 4 of us answering the phone and we are very busy.

We are currently in the process of recouping all the funds owed to us from banks and processors. Once this is done the payment process will commence.

BETonSPORTS PLC

That's the reply I received from BOS today. Who knows, maybe, just maybe....

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Rolltideroll · Nov 14, 2006

hmmm...they are down to four people answering the phone...everything keeps shrinking..I know www.betmill.com does not work any more.

buddyboy · Nov 14, 2006

how about only putting 3 people on answering duty and the other one can spend the rest of the day collecting money.

Here is that persons schedule:

9am -9:30am Call neteller, ask for all the money to be sent to bank account # xxxxxxxxx

9:30 - 9:45 Smoke Break

9:45 -10:15 Call Credit card processor, ask for all the money and reserves to be sent to bank account #xxxxx

10:15 - noon call 4 or 5 more money processors and ask for all your money.

Noon to 1pm lunch

1pm to 1:20 call bank check on any incoming monies

1:20 to 2pm follow up with neteller

2pm to 3 pm follow up with credit card companies

3-3:30 break

3:30 to 4pm check bank account again

4pm go home

repeat every day till all money is collected.

eric_78 · Nov 14, 2006

update from osga.....take it for what its worth

Last Thursday the US Government was able to secure a Permanent Restraining Order against beleaguered sportsbook giant BETonSPORTS.

This new order gives BOS the ability to being the process of paying out players. Last week they sold off an Asian facing business, Hooball, for $2.25 Million (and cancelled nearly $5 million in outstanding consideration). And more assets are on the chopping block....

This initial sale will enable BOS to begin to pay off its old employees. In Costa Rica, when an employee is let go, they are entitled to a severance package. To date, BETonSPORTS has not paid any of the employees, their severance. However, our insiders have told us that payments will begin to flow to these employees next week.

Though the initial response may be who cares, this is a good sign for US players. We have found that once the [laid off] employees are all paid, then he money will begin to flow to US players. Do not expect to see any money coming towards the US for at least 3-4 weeks.

We received many calls on Friday and over the weekend about the BOS phone number (866) 481-3057 being down. A simple problem with the phones became a huge issue, as there are no longer any tech people working in the BOS offices. It took over a day to solve something that previously would have taken a few hours.

Today, the phone number is active and we have had many calls about this number being busy. There are three employees answering these phones and only a couple of lines coming in. Please be patient as these few clerks are working until everyone gets paid.

They have asked us to urge players with Internet access to use email rather than contact BOS through the phone lines. Contact BOS via email at customer_service@betonsports.com.

buddyboy · Nov 14, 2006

problem with the phones... yeah not paying the bill usually means it gets shut off... they probably had to sell that asian casino just to come up with enough cash to get the phones turned back on

LOL