BetOnSports Annexes British 'Betting Community'

24 December 2002

One of the world's largest offshore Internet sports books,, confirmed Monday that it's taking control of one of U.K.-based

Pete Wilson, the media relations manager for BetOnSports, said the company had taken over the customer base and ownerships of the Betabet URL.

Betabet was forced into liquidation of its assets, but is still operational. As part of the deal, BetOnSports will continue to use the Betabet software. Wilson declined to speculate on whether Betabet would be merged into the BOS site.

According to the statement put out by BetOnSports, Betabet has a customer base of more than 12,000 users. In that statement, BOS ensured Betabet customers that they can still bet online and that their accounts are in tact.

"Customers will continue to enjoy the Betabet service they are familiar with, plus the added security of knowing that their balances are backed by one of the largest gaming companies in the world," the statement read.

David Carruthers, the CEO of BetOnSports, said the incorporation of the Betabet brand would help his company's growing exposure in the United Kingdom.

"Betabet is a well respected brand in the United Kingdom and we are thrilled to be adding it to our growing list of established and profitable gaming brands," he said.

Launched in 2000, Betabet carved out a niche for itself by creating and hosting a Web-based community of independent bookmakers throughout Britain using software designed by Betabet Trading Ltd.

The company was a prominent sponsor of horseracing events throughout England and backed the Betabet Two-Year-Old Trophy at Redcar for the last three runnings.

Alan Turner, chairman of Betabet, said he was saddened by having to relinquish control of a project that he helped build, but that it was necessary for BOS to take over the system after many independent book makers failed to hold up their end of contractual agreements.

"While the development of the brand and technology has gone well over the past two years we have not seen the uptake we would like in terms of independent bookmakers and, in a couple of cases, bookmakers not paying what they should in terms of payments to us," he said. "So, we have dismantled the community and allowed a bookmaker to take over."