BETonSPORTS Update for Former Players
Here at the Off Shore Gaming Association, we get hundreds of inquiries every month. We get questions on online sportsbooks, casinos and poker rooms, in addition to a vast array of legal and scam requests. One case that has gone on for over four years is the liquidation of the former BETonSPORTS company and we are still getting inquiries on the case, especially since players have heard nothing for over a year.
In 2007, a forensic accounting company in England, Vantis PLC, was appointed by the government of Antigua to liquidate the assets of the sportsbook giant. However, Vantis itself ran into trouble early in 2010 and was forced to sell off the division in charge of the BETonSPORTS case. Vantis Business Recovery Services was sold in a management buy-out to existing Vantis partners for an undisclosed sum and a new firm, FRP Advisory LLP took over the operations in June of this year.
We feared that all hope was lost for players.
However, here at OSGA we are determined to see this case through until its end. Thus, after investigating for most of the summer, we were able to find out that many of the key people who assisted us on behalf of players in 2007, 2008 and 2009 were now in similar positions at the new company, FRP Advisory and that the company was working toward a resolution. We have been in contact with the new company and this week did get an update for players. This is very preliminary information and we expect to have continued updates in the coming days and weeks.
Several orders have been made by the High Court and the financial/gaming regulators (FSRC) in Antigua. These orders are providing for FRP Advisory to make one final attempt to contact players/creditors via national newspapers in Antigua and the U.S. As of our latest correspondence, the final submission of outstanding claims to the liquidators will be March 31, 2011. This cutoff date will finally enable the liquidators to be able to make payouts to players and creditors. A final distribution of funds to gaming and trade creditors should be completed by no later than June 30, 2011.
Still, we were still not given a concrete answer to the big question on players minds, "How Much?", yet reports indicate only a small percentage will be returned to players. Though this is still ongoing, at least now a timetable for closure and distribution has been scheduled and agreed by the Court. Hopefully, before the 5th anniversary of this ordeal next summer, players will get some funds back and this ugly chapter in Internet gambling can be brought to a close.
Questions and Answers
Warriors turn to relief workers to rebuild a war torn country. There are insights learned that may lead us to World Peace. "A Prescription For Peace" is a great read as we remember those that have fallen to defend our great nation. Their blood will lead to a day where we all share in World Peace.
Worried at the grave condition of your child and tensed to bear the child's condition at the time of the treatment? Relax, it's time that you forget all your tensions and smile to see your child undergoing high end treatments without necessarily feeling the pain of it.
Many persons believe world poverty exists as a result of our ignoring its existence. It is enough to say that the well-established can fight starvation of other individuals without becoming impoverished themselves. Naturally, world poverty, as it presents, is an issue where persons are left to starve because of oppressive tactics and improper distribution of goods.
A lot of organizations and churches will have a food drive where they will give all of the food that is donated to the people who need it. Organization that retain over 80% of the donated fund for administration fees is less attractive than the one with less fees.
Contrary to recent media reports, Nigerian Prophet T.B. Joshua is being welcomed with open arms to Cameroon by the entirety of Cameroon's Pentecostal Christian Churches. Debunking the rumours which have been circulated around the internet of late, Dr Tsala Essomba said that the statement credited to former Minister of Foreign Affairs Mr Henri Ayissi accusing Joshua of diabolic practices does not reflect the belief of Cameroon's populace.
Spring training is right around the corner, and it is time to start thinking about your 2011 Opening Day bets. The first games are on March 31st, and they will be here before you know it. This article will get you ready by the time that day rolls around by following these 5 tips...
The annual College Bowl season is here and OSGA has got you covered. In addition to the BCS Bowl Contest, the College Bowl Report is now available!
It is time for Internet gamblers in the United States to strike back and help Harry Reid pull the same trick that then-Senator Bill Frist pulled with Bob Goodlatte, Jon Kyle and others in 2006. For those who need a reminder, these Congressmen pushed the Unlawful Internet Gambling Enforcement Act (UIGEA) through in a lame-duck session at the end of 2006 by attaching the bill to must pass legislation...
With the Christmas break coming up it seems certain that the future of any pro-online gambling legislation rests with Senator Harry Reid. Reid is still the Senate Majority leader and has the ability to introduce HR2267 or companion bills to the Senate prior to control of Congress shifting over to the Republicans. If Reid sits on the legislation it's almost certain it will die on the shelf....
Discuss this Article
