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BetOnSports Carves out Deal to Avoid Civil Suit

Worldwide Sports Betting Company BetOnSports Agrees to a Deal Requiring it to Refund Money and Turn Over Financial Documents

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U.K. company BetOnSports finalized a legal deal today that allowed it to avoid the expensive civil suit brought against it by the U.S. government.

In exchange for the case being closed, BetOnSports is required to permanently discontinue all operations within the U.S., refund all money still remaining in American accounts, and provide documents and full cooperation with the government investigation. BetOnSports was once one of the leading companies in sports betting worldwide, making more than $1 billion from U.S. customers alone. The current charges claim the company lied to customers regarding the legality of placing bets with it over the phone or online.

As part of the deal, approved by U.S. District Judge Carol E. Jackson in the St. Louis Federal Court, the company has seven days to provide investigators with financial documents and company records. BetOnSports must also provide toll-free phone numbers for U.S. customers to call if they need assistance retrieving the money they are owed from their accounts. Its Web site will also be required to display conspicuous warnings for U.S. players regarding the legality of placing online bets from within the country.

While this deal will end the civil suit, there is still a criminal suit pending against the company.

The business operation of BetOnSports had been put on an indefinitely long hiatus immediately following the arrest of then-CEO David Carruthers earlier this year in July. Carruthers was passing through the U.S. on his way to his home in Costa Rica when authorities picked him up in the Dallas-Fort Worth airport. The arrest was based on the civil and criminal charges that had arisen just days before against BetOnSports, its employees, and all of the company's associates.

 
 
 
 

Comments

ivAAron
15 years ago

Thank god!! I want my $16k back!

 
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