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Old BetonSports Players Paid 4.6 Percent of Balances

Wednesday July 6, 2011 : 4.6 percent paid out from the demise of a one-time internet gambling giant
Six years ago it would have seemed unlikely that the at that time giant online gambling group BetonSports could fail. Steered by its high profile and aggressive chief exec David Carruthers, the company had tens of thousands of players on its books and was a constant presence in the US media due to innovative and in-your-face marketing.
Then Carruthers was arrested whilst transiting through the US, starting a long period of incarceration, and founder Gary Kaplan and others were prosecuted, beginning the methodical dismantling of the company by the US Department of Justice in one of the industry's first major enforcement actions.
In a relatively short period of time the company's plush offices in Costa Rica were deserted, hundreds of employees found themselves without jobs, and players were unpaid.
This week memories of the debacle surfaced again on internet sports betting message boards, where players reported that payments from the liquidators have commenced.
But the bad news is that players will receive only 4.6 percent of the returns due to them. Resources realised from the final wind up of the company are apparently sparse.
It's taken several years since impacted players were advised to submit their claims to the US authorities back in mid-2006, but it appears that this tainted brand simply will not disappear; in Pennsylvania, a grand jury investigation has claimed payment processing links between magazine publisher Don Hellinger and BetonSports back in its heyday, and further prosecutions may be in prospect.

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Gambling News :

UKs Advertising Standards Authority vs Ladbrokes - A Ladbrokes Casino email promo has fallen foul of the UKs Advertising Standards Authority who deemed significant terms and conditions concerning bonusing to be unclear or misleading.

Mybet Earnings Struggle - The statement this week reveals that Mybet continued to be hampered by negative trends from historic quarters, making its original performance estimate "unrealistic".

Tom Horn Awarded Malta Gaming License - Online gambling software provider Tom Horn Gaming has been awarded a Malta Gaming Authority license that permits the company to host and manage Malta-based gaming operators.

Calvin Ayre invests in new Antigua Business Center - Ayre joined with government officials this week in a ground-breaking ceremony for a five-story centre on Antigua which will be home for the venture. The "green" building will be solar powered and provide employee-friendly services like catering, a gym and child care.

Attack of the Zombies Slot - Online gambling games developer Genesis Gaming has unveiled its latest game, with a theme based on a horror story of the undead, exploiting the current trend....and just in time for Halloween.

Why is FullFlush Poker Still Down - Its now almost a month since Full Flush Poker went offline "for a platform upgrade" and stopped communicating with its reportedly many unpaid and unhappy players. All trace of the operator - and means to communicate with it - have vanished.

Time Running Our For Pennsylvanian online gambling - Hopes that this week would see the Pennsylvanian Senate voting on an online gambling and DFS legalization bill already passed by the House four months ago dwindled Wednesday when no progress was made and the legislatures season officially closed.

Yggdrasil Gaming Expanding - The Swedish online gambling games developer Yggdrasil Gaming is to establish a new parent company and expand its Stockholm office as it bolsters its presence in Sweden with a raft of new hires.

FanDuel and DraftKings Settle With NY Attorney General - Speculation earlier this week that daily fantasy sports market leaders FanDuel and DraftKings were about to agree a settlement on consumer fraud suits prepared by the New York AG was confirmed Tuesday when a $12 million settlement was announced.

Stan james Now Live With EPOS - The company switched to the Optima server less system across its entire estate in July after previously using Optima EPOS technology. The switch was completed early this (October) month and has already delivered noteworthy savings for the company.

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