BetonSports plc was a British online gambling company founded by Gary Kaplan in 1995. It stopped operating in 2006 after the arrest of its CEO, David Carruthers. The company was one of the biggest players in the United States online gaming market, drawing in several billion US dollars in wagers in the early 2000s. In June 2006 US authorities indicted the company and a number of its executives. SharpSide is a relatively new app that provides a huge amount of community-driven info and analysis for bettors. The beauty is in SharpSide's model for sourcing betting tips and advice – each member's betting records are public and there's no way to delete losses or otherwise manipulate the results.
BetonSports plc was a Britishonline gambling company founded by Gary Kaplan in 1995. It stopped operating in 2006 after the arrest of its CEO, David Carruthers.[1]
The company was one of the biggest players in the United States online gaming market, drawing in several billion US dollars in wagers in the early 2000s.[2] In June 2006 US authorities indicted the company and a number of its executives on RICO, mail fraud, and tax evasion charges arising from its supplying online betting to customers in the United States (the alleged crimes took place before the adoption of the Unlawful Internet Gambling Enforcement Act of 2006).
In July 2004[3] the company was floated on the Alternative Investment Market of the London Stock Exchange with the ticker symbol BSS.LN.[4] Although listed in London, the majority of its operations were in several Caribbean locations (principally Aruba, Antigua, and later Costa Rica[5]) and almost all of its customers were within the United States.[2]
In July 2006 the United States District Court for the Eastern District of Missouri issued a sealed indictment[6] of the company and a number of people related to its operations. The indictment was unsealed later that month when CEO David Carruthers was arrested in Dallas while returning to Costa Rica after attending the company's annual general meeting in London.[7] Shortly after Carruthers' arrest trading in the company's stock was suspended.[8] At that time BetonSports employed around 2,000 workers in Costa Rica.[9] The company later terminated Carruthers and agreed to discontinue its US business.[10]
In March 2007 founder Gary Kaplan was arrested in the Dominican Republic and was extradited to the US.[10] In August 2009 Kaplan pleaded guilty to three charges, including a racketeering charge.[11]
On 8 January 2010 it was announced that David Carruthers had been sentenced to 33 months in prison.[12]
References[edit]
- ^'BetOnSports executive gets 33 months in U.S. prison'. Reuters. 8 January 2010. Retrieved 11 February 2020.
- ^ ab'U.S. permanently bans BetOnSports'Archived 12 March 2007 at the Wayback Machine ZDNews, 10 November 2006
- ^'BetOnSports PLC Shareholders May Sue the Company'
- ^'Quote for BETonSPORTS PLC (BSS.LN)', The Wall Street Journal online share price service, URL retrieved 31 March 2007
- ^'Significant cases: BETONSPORTS PLC'Archived 12 March 2007 at the Wayback MachineUnited States Attorney's Office of the Eastern District of Missouri's page on its ongoing civil and criminal prosecution of BetonSports and related parties.
- ^Text of the indictmentArchived 5 January 2007 at the Wayback Machine (PDF file)
- ^''BETonSPORTS plc CEO arrested in Dallas''. Archived from the original on 27 September 2007. Retrieved 31 March 2007.
- ^'Gaming shares hit by US charges'BBC News 18 July 2007
- ^Employees say online gambling operator BetOnSports closing in Costa Rica
- ^ ab
- ^'BetOnSports Founder Pleads Guilty to Racketeering'
- ^FBI - St Louis web site
External links[edit]
- BETonSPORTS.com, the company's former online gambling portal. The site previously displayed information for customers whose funds were affected by the ongoing legal action.
Capitalising the name[edit]
There doesn't seem to be much consistency, in the various sources cited, regarding the correct capitalisation of the company's name or that of its website. Options seem to be BETONSPORTS, BETonSPORTS, BetOnSports, BetonSports, and Betonsports. I mention this here only to hope to avoid a pointless discussion about which is 'correct'. -- Finlay McWalter | Talk 21:08, 31 March 2007 (UTC)
Capitalising the name[edit]
There doesn't seem to be much consistency, in the various sources cited, regarding the correct capitalisation of the company's name or that of its website. Options seem to be BETONSPORTS, BETonSPORTS, BetOnSports, BetonSports, and Betonsports. I mention this here only to hope to avoid a pointless discussion about which is 'correct'. -- Finlay McWalter | Talk 21:08, 31 March 2007 (UTC)
Information needed[edit]
I've not been able to find much in the way of:
- worthwhile financial information about the company's finances (its market cap, its stock price, or much detail about its turnover)
- what kind of games it ran
- when was it founded, and by whom (just Kaplan, or others too?)
-- Finlay McWalter | Talk 21:08, 31 March 2007 (UTC)
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External links modified[edit]
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Bet On Sports App
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