BOS is finished....online gambling..

[pittviper]

TOW Flash News
8/9/2006
It's over - BETonSPORTS preparing to close its Costa Rica Facility


Employees and clerks of BETonSPORTS complex in San Jose are being told that tomorrow's salary will be the last. Severance will follow in 30-90 days. These news will likely create panic amongst the tens of thousands of BoS customers whose monies have been kept hostage since July 19, when BETonSPORTS voluntarily shut down its operation without formally acknowledging the TRO issued July 17.
TOW investigative team in Costa Rica followed a lead received last night according to which company cars and personal vehicles used by management had been placed for sale Our team found the car in use to BETonSPORTS management now on sale on the local Web site supereconomicos.com.

TOW Team also learned that the entire company fleet was put on sale yesterday.

Rumors of a possible shut down of Mall San Pedro first spread like wild fires Monday.

BETonSPORTS operations manager Dalton Wagner later denied rumors. "While I remain positive about the outcome of the current situation, I think it would be prudent to have a backup option in case this turns negative." Wagner said in a note distributed within the company.

A handful of key employees and management would stay onboard for three months to complete the shut down procedures of BoS premises in Mall San Pedro, San Jose.

According to BoS sources the Board of Directors is negotiating with the DoJ an agreement according to which BETonSPORTS would stop doing business with U.S. customers. In exchange the DoJ would have the TRO revoked. This move would allow BoS to continue to operate with its European and Asian customers. The company would lose approximately 80% of its existing turnover, hence the reason to shut down its Costa Rica facility.

"Unbelievable!" a Bookmaker told TheOnlineWire. "These guys of the Board of Directors are so busy trying to save their own arses they don't realize the damages their actions are creating.

"I tell my fellow Bookmakers: stay private, avoid going public or your businesses will be in the hands of jerks." he added.
What will happen to players' funds is yet to be learned. If the company shuts down for good a liquidator will be appointed in the U.K. and players will have to file their claims with him. BoS customers are non-priviledged creditors and are entitled to claim their deposits only. Gambling debts, in this case players' winnings, are not enforceable by law in Great Britain. Players would eventually end up recuperating cents to the dollar, if any.
However the company may not shut down but simply "retreat" to the U.K. . Sources reported BETonSPORTS was in the process to migrate all its Web properties under a .co.uk domain name. In this case the company would either continue to service the U.S. via Internet only, like Sportingbet, or discontinue catering the U.S. market therefore refunding U.S. customers.
Should the refund option prevail BEToNSPORTS will likely refund original deposits only, but not winnings. In this case players would have no recourse (gambling debts not enforceable) and BoS would come clean saving substantial amounts of money. The Board of Directors remains silent and management stays tight lipped while the last chapter of BETonSPORTS Costa Rica unfolds.

BETonSPORTS sources said that payout processing was frozen because of the TRO and because payment processors are unwilling to process transactions in BoS name while the TRO is in effect.

TOW was unable to reach BoS spokesman Kevin Smith for comments.
TOW opened a BETonSPORTS Hotline Saturday. Over 100 players have contacted us seeking information and updates or simply sharing their frustration.

[The Judge]

Thanks for the info PV, but in the future, please do not post anything that references this particular source.