Retribution -- BetonSports shareholders are considering legal action against the company's financial advisors, Evolution Securities and Baker Tilly, according to the Observer. Certain investors are reportedly unhappy that the history of the company's founder, Gary Kaplan--who has been named (along with former CEO David Carruthers and nine other individuals involved in the business) in a 22-count indictment and charged with fraud, racketeering and tax evasion--was not made clear when the company floated two years ago. BoS maintains, however, that because Kaplan was not a director of the company at the time of the float, it was under no obligation to disclose details of his past.
Recovery -- In light of the BetonSports (BoS) ordeal, AIM-listed betting company Betcorp has stopped taking telephone bets from American residents and is reviewing its U.S.-facing businesses, which accounts for up to 85 percent of revenues. Betcorp shares lost more than 40 percent of their value following the arrest of Carruthers last month. The company said only a handful of jobs would be lost as a result of the cut.
Warning -- Britain's Department of Trade and Industry has released a report warning that gambling could be one of England's most serious addictions by 2026 because of the new relaxed gaming laws. The paper, written by Professor Jim Orford, teacher of clinical and community psychology at the University of Birmingham, said the laws governing the industry would have problems keeping up with the technological advances in gaming (Internet gambling, spread betting, mobile betting, etc.), and problems associated with excessive gambling would not be evident right away. He said he doesn't think ministers have paid proper attention to the public health side of problem gambling.
Resolving -- Online gambling watchdog eCOGRA (eCommerce and Online Gambling Regulation and Assurance) has released a report for the six months to June 2006 detailing 265 complaints filed via its Web site. Tex Rees, eCOGRA's fair gaming advocate, said 83 of them involved online casinos and poker rooms that are not certified by eCOGRA and, therefore, fall outside the group's authority. Another 35 submissions were not considered to be true complaints and did not warrant follow-up. The remaining 147 were investigated and resolved, with 31 percent ruled in the player's favor.
Smash -- U.K. bookmaker Ladbrokes reports that an unprecedented £5 million has been wagered across the industry on the current season of the popular television series "Big Brother," which means that since the season premiered 90 days ago, £56,179 per 24 hours has been bet. "This series of 'Big Brother' has smashed all records," said Ladbrokes spokesman Nick Weinberg, adding that despite the controversy over a number of the stunts this year, the show has proved to be a success for the industry. The show's finale airs at the end of this week.
Felt up for Sports Betting -- RedFelt Software Ltd., a wholly owned subsidiary of CYOP Systems International Inc., has announced plans to enter the online sports book industry with the launch of RedFeltBook.com and RedFeltSportsBook.com. The sites will be focused on the Asian and European markets and will offer a full range of sports betting options as well as an extensive number of betting options, including straight bets, parlays, over/unders, money-lines and teasers.
Stock Watch -- LSE I-gaming stocks showed signs of improvement today, with Neteller up 20p to 394, Sportingbet up 8.25p to 242, William Hill up 7.50p to 611.50 and Fun Technologies up 6.50p to 290. Today's loser was Playtech, which fell 6.50p to 237.