BetWWTS Discussion

VegasPlayer777 · Oct 18, 2006

Looking Better...

TOW Flash News
10/18/2006
Fire Sale of Betcorp's BetWWTS to be completed this week

Following Betcorp announced disengagement from U.S. facing properties several private operations approached the publicly listed Australian group.

TheOnlineWire.com learned this afternoon that a deal is due to be announced this week. Lips are tight and several possible buyers' names circulated in these hours.

According to speculations BetUS.com and Bodog.com are the most probable buyers of BetWWTS and its U.S. facing properties. EOG.com reported earlier today allegations according to which Bodog.com will be the buyer.

Rumors according to which recently delisted Vip.com was also in the mix have not been confirmed.

The fire sale of BetWWTS and its properties will certainly bring relief amongst the sportsbook's U.S. customers who have had their funds frozen since October 13. BetWWTS.com and its subsidiaries continued to run business with non U.S. residents.

Anti-liberal · Oct 18, 2006

I hope this Bodog rumor is true. Bodog has been nothing short of FANTASTIC with me.

Buffalo66 · Oct 18, 2006

I hope it's true too! Bodog's great!

jwblue · Oct 19, 2006

If this goes through, I will be thanking Mr.Ayre by giving him my business.

IS

VegasWinner · Oct 19, 2006

Sold to BoDog for 9 million.

VegasWinner · Oct 19, 2006

when will they get up and running. THEIR CS HAS NO CLUES and all they are feeding me is the oct 16th stmt.

VegasWinner · Oct 20, 2006

NO betting at WWTS this weekend. US customers will get funds next week according to gambling911.com. This sucks, but at least I get $$$ back.

levistep · Oct 20, 2006

Should have figured BETwwts is no good, why else would rx advertise them?

HawkN-Flight · Oct 20, 2006

What was the reason WWWts was sold ? Where they losing or was it the new american legitslative bill ?

xpanda · Oct 20, 2006

It was the bill.

VegasWinner · Oct 20, 2006

HawkN-Flight said:
What was the reason WWWts was sold ? Where they losing or was it the new american legitslative bill ?

Yes. Need to go private vs being publicly traded to avoid US law.

outhousetim · Oct 20, 2006

Can someone reprint this?

Does that mean all pending future plays?

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RX Junior

Join Date: Oct 2006
Location: in my Basement
Posts: 39

</TD><TD class=alt1 id=td_post_3320174>

<HR style="COLOR: #fdde82" SIZE=1>NO betting at WWTS this weekend. US customers will get funds next week according to gambling911.com. This sucks, but at least I get $$$ back.
</TD></TR></TBODY></TABLE>

VegasWinner · Oct 20, 2006

Looks like monday: From Gambling911.com

=======================================
BetCorp shares recover following announcement
Media in Australia reports that BetCorp shares staged a major recovery Friday after reports it had sold its US sports betting operation to a Costa Rican company for $US9 million ($A12 million).

The shares jumped 15¢ to 41¢ following the reports from US websites. Not much was expected from the sale after Sportingbet, listed in Britain, sold its US business for $US1 last week. The sale allowed it to discharge liabilities of $US13.2 million and avoid a closure bill of $US14 million, it said.

The rumoured buyer of Betcorp's WWTS business is Bodog, which does not plan to comply with the US ban on online gambling services.

Bodog.com founder Calvin Ayre said in a statement that "we've structured our business in such a way that we'll have no problems adapting to any changes in the online gaming environment. We see the future as very positive for Bodog.com."

Bodog confirmed to Gambling911.com that they were in the process of finalizing a deal with BetCorp but that the arrangement was still contingent upon shareholder approval.

An announcement was originally slated for Friday afternoon but due to the time difference between North America and the Australian continent, news is more likely to come out some time Sunday Eastern Standard Time, beginning the new work week in Australia.

Betcorp's US operation has been suspended since last week, when US President George Bush signed legislation restricting some forms of online gambling. Betcorp was expected to find a buyer by this weekend, but officials were not available for comment yesterday.

Gambling911.com first reported early this week that three parties were in talks with BetCorp about a possible purchase of its US facing business. On Wednesday morning, Gambling911.com first broke the news that a major industry player would be buying BetCorp's US facing brand.

"We did not release many details of this pending sale out of fear it would undermine the process and interfere with the payment of BetWWTS customers," commented Christopher Costigan, Founder of Gambling911.com.

Bodog.com has since informed Gambling911 that $9 million would be paid for BetWWTS.com's European infrastructure and that all US customers would be paid in full and encouraged to bet with the Bodog.com brand. Bodog, however, does not accept business from Canada. It is believed that BetCorp would retain the Canadian customer base.

BetCorp was placed in an unenviable position of having to answer to shareholders, the biggest of whom reportedly purchased shares the morning an internet gambling bill sailed through Congress as an attachment to a more vital port security bill.

Bodog.com representatives met with BetCorp in their Toronto marketing offices. Bodog has expressed interest in opening an office in Toronto to take advantage of the city's talented workforce. But Ontario is in the midst of trying to curtail online gambling itself.

Mirroring the position of US lawmakers, Jeff Leal of Ontario himself stated that the main concern with online gambling is that it is taking away revenue from the lotteries, race tracks and the video lottery terminals located at the racetrack, according to Hartley Henderson of MajorWager.com.

It is not known how any new legislation in Ontario might affect Bodog.com's plans to set up an office in the province.

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HawkN-Flight · Oct 20, 2006

It looks like WWWTS held its customers hostage to their own money,so they could sell their book to Bodog. No one is going to buy a book with fleeing customers ,so I,m thinking that Bodog is going to give you a sweet offer to keep you guys there. Bodog probaly wanted that no money be given out to customers til they buy WWWts and get a chance to present a sweet offer to the WWWts customers to stay . Meanwhile WWWts is running with there money.
For these offshore books to be successful they must have large clients, cuz its the clients money, who pay off the winners not the book,s money.

VegasPlayer777 · Oct 20, 2006

I have high four figures with BetWWTS but will be more than happy to go with BoDog. Any offshore book openly telling the US to "F**k Off" is at the top of my list. Gotta believe BoDog execs have figured out how to solve this US money transfer issue as well. No way they would spend $9mm without solving that one. Suggest everybody relax about the BetWWTS inconvenience and allow the offshore world to adapt.

cfar1972 · Oct 20, 2006

Sportsbookreview is reporting a 1 MONTH wait until shareholders vote. The funds would supposedly be frozen. I am now in the "dead money camp". I'm looking at this as entertainment. I made a profit at Betwwts in the tune of 1,000's. So at least "my money" is really others' money

BostonBettor · Oct 20, 2006

cfar1972 said:
Sportsbookreview is reporting a 1 MONTH wait until shareholders vote. The funds would supposedly be frozen. I am now in the "dead money camp".

Bottom line is this is a major PIA, but if I have to wait a month and get my money I don't see as I have a lot of choice. Getting the funds is the important thing. Still, I'm not sure why they'd need 30 days, and If I were the buyer I don't think I'd be happy either. I guess according to SBR, they were required to give 3 weeks notice. November 15 is the date. I guess I'll just have to look at this as an early Christmans present - assuming everything goes through.

cfar1972 · Oct 20, 2006

BostonBettor, it's over. The money's gone. I would be totally surprised if they actually pay out. There are too many "legal" ways not to. They didn't pay me before this whole incident. I thought it was my fault. I faxed in numerous documents, etc. Now I think this is all a "smokescreen" to close. Now this is a sociology experiment to see how we respond. Who truly believes they will get paid,etc.

cfar1972 · Oct 20, 2006

Now, everything I just said about my money being gone was based on the "1 month" story from sportsbookreview.

yet

theonlinewire is reporting:

TOW NewsWire
10/20/2006

BetWWTS is expected to reopen for business with U.S. residents as soon as the formal announcement will be released to the media Monday.
TheOnlineWire E-gaming Newswire - Ocotber 20 2006 - 4.30pm EST

in which case, maybe I can pay my mortgage after all!

VegasPlayer777 · Oct 20, 2006

cfar1972 said:
BostonBettor, it's over. The money's gone. I would be totally surprised if they actually pay out. There are too many "legal" ways not to. They didn't pay me before this whole incident. I thought it was my fault. I faxed in numerous documents, etc. Now I think this is all a "smokescreen" to close. Now this is a sociology experiment to see how we respond. Who truly believes they will get paid,etc.

Do you live your whole life this paranoid? Take a pill or something.