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  #1  
Old 09-07-2006, 07:35 AM
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Sportingbet owner arrested - Here we go again... ( Merged )
LONDON (Reuters) - Online Bookmaker Sportingbet Plc said on Thursday its chairman, Peter Dicks, had been detained by U.S. authorities, causing shares across the sector to dive as investors feared a crackdown on online gaming.

Analysts said the detention mirrored the detention in July of the CEO of another company that took online sports bets from the United States, Costa Rica-based BETonSPORTS.

BETonSPORTS former Chief Executive David Carruthers and seven others pleaded not guilty to racketeering and other charges. The company has since said it is closing its U.S. business.

Sportingbet said it had sought immediate temporary suspension of its shares pending clarification of the situation. Shares in the company were down 1.8 percent at 238-1/2 pence at the time of the suspension.


The news hit other shares across the sector, with PartyGaming down 10.5 percent by 11:20 a.m., 888 plc down 15.2 percent and Playtech down 11.65 percent.

Sportingbet said earlier on Thursday it was in preliminary talks about making a possible all share offer for World Gaming Plc.

The two groups said that based on Sportingbet's closing price of 244 pence on Wednesday, the offer would value each World Gaming share at an implied price of 104 pence, valuing World Gaming at 107 million pounds.
"We have a long history with World Gaming," Sportingbet Finance Director Andy McIver told Reuters prior to the announcement that the group's chairman had been detained. "The servers that take our bets sit in a bunker in Antigua that is owned and maintained by World Gaming."
"This is about tidying up that relationship and taking control of key suppliers," he added.
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  #2  
Old 09-07-2006, 07:50 AM
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Not good news at all
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CM Posted 2003 till 2012 records (updated daily) :

NHL : +161 (units)
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Total : +580 units

1 unit or less = small bet, 1-3 = medium, 3+ = large

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Last edited by dave nz; 09-07-2006 at 08:02 AM.
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  #3  
Old 09-07-2006, 09:01 AM
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Who - I edited the title so people will be able to see this quicker. FYI. Thanks for info
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  #4  
Old 09-07-2006, 09:03 AM
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This is not good news.
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Old 09-07-2006, 09:04 AM
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Gregg - While I agree it's not good news - I also believe it's a scare tactic and perfect timing. This is exactly what they want to happen
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Old 09-07-2006, 09:09 AM
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Can you say "Election Time?"
The current administration has made it clear that it is going to turn up the heat on offshore books, which it claims is a haven for organized crime and terrorist funding. This is nothing more than politics as usual trying to pull back in the political right at election time.

Last edited by KidKnowsPicks; 09-07-2006 at 09:11 AM.
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  #7  
Old 09-07-2006, 09:12 AM
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I have money in a sportingbet account. Should I withdraw it and move to another site? I don't want to lose my bank roll.

Thanks,
actionj
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  #8  
Old 09-07-2006, 09:17 AM
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Quote:
Originally Posted by ActionJ
I have money in a sportingbet account. Should I withdraw it and move to another site? I don't want to lose my bank roll.

Thanks,
actionj
Yes, immediately if it were me

Put your money in to someone like BetJm or Greek where an owner like Spiro has enough money to fight these pricks.
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Old 09-07-2006, 09:28 AM
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thanks dr. jack i am doing it as we speak
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  #10  
Old 09-07-2006, 09:35 AM
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Just to be clear. I have no knowledge that these guys will shut down. I think many thought BoS used that to be able to shut down. But still why take a chance with money in there right this second. A lot of people would have been better off if they did this in the BoS beginning. I know I would have been. You can always go back or at least take most of it and put it elsewhere. Good luck
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  #11  
Old 09-07-2006, 09:48 AM
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Is this the beginning of the end of offshore?

IS
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Old 09-07-2006, 09:52 AM
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I think its the beginning of the revolution and growth of offshore
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Old 09-07-2006, 09:53 AM
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Originally Posted by InSpades
Is this the beginning of the end of offshore?

IS
I don't think so. This has been going on for a dozen years. If you look at wsex and JC - people asked this question 10 years ago and look at them - they are stronger than ever.
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  #14  
Old 09-07-2006, 09:55 AM
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Noone knows what is going to happen. No one. It is all speculation and guesses. It stinks and has that element of unknown. I reloaded my books and stuck with the good books but that does notmake make me feel a whole lot better. I do not want to lose my money is a big concern obviously.
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  #15  
Old 09-07-2006, 09:57 AM
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Originally Posted by BigJohn
Noone knows what is going to happen. No one. It is all speculation and guesses.
Can't argue with this really but at the same time - this industry just keeps growing and I can't see it going anywhere
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