BetOnSports faces excessive payout
8th December, 2009
The online bookies BetOnSports has been caught up in several police cases over the last couple of years and this seems to be the case yet again! The bookies have been sentenced to five years on probation and were fined $28.2 million by a Federal judge in America.
This is not the first time that the bookies has been forced to pay a fine, or the first time that they have been in trouble with the courts. Back in 2006 the company was accused of violating the Federal Wire Wager Act by running one of the largest offshore gambling companies worldwide and it was rumoured that the Costa Rica based company handled more than one billion dollars in a year just from bets over their easy to use website and phone line.
In 2007, the company were yet again accused of misbehaving but this time pleaded guilty to racketeering and conspiracy to abide to a civil settlement. Now in 2009, the company have gone into liquidation and the founder of the company, Gary Kaplan has been sentenced to 51 months in prison and fined $43 million.
It is rumoured that the company owe punters over $8 million but lawyers do not think that it is likely that this will ever be returned to them. This excessive profit for the company occurred when punters were anxious to claim their winnings as they feared that what they had wagered would be seen as illegal and it is estimated that only about half of the customers carried out the full procedures to claim their money back, this would also suggest that the company have collected a considerable amount more than the estimated $8 million.
It looks as though there are no more chances for the online sportsbook and only time will tell if the money owed will be rightfully returned to customers!
By Gina
