US Files Temporary Restraining Order Against UK's BetOnSports

BetOnSports has complied with a temporary restraining order, which was filed by a United States District Judge earlier this week ahead of a full civil hearing. The United Kingdom company hit by racketeering charges in the United States said today it had met demands to stop taking bets from its US-facing website.

Prosecutors in the US want the company to stop taking US sports bets. In addition, they want BetOnSports to return money held in online accounts. BetOnSports, which relies on the US for around 80% of its revenues, said its other operations were unaffected by the temporary closure move today.

A message on the website stated, “In light of court papers filed in the United States, the company has temporarily suspended this facility pending its ability to assess its full position. During this period no financial or wagering transaction can be executed. Further information will be posted once the company is in a position to do so.”

BetOnSports shares were suspended on Tuesday following news of the charges in Missouri. Dealings in other gaming companies remained volatile today, with Party Poker owner, PartyGaming, among the most heavily traded stocks of the session.

Even though the case against BetOnSports relates to laws against sports betting over the internet, investors in casino operators fear that US authorities will begin a wider crackdown on the
online casino gaming industry.


February 21, 2007