Sad end for a one dominant online gambling company
News on 19 Dec 2013
News on 19 Dec 2013
The BetonSports.com website was at one time a dominant force in the online gambling industry, operating bold and high profile promotions in the United States from its upmarket headquarters in Costa Rica and reportedly generating many millions in revenues.
But then the federal authorities moved in on CEO David Carruthers and reportedly main stakeholder Gary Kaplan and it all ended in tears, forfeitures and jail sentences, with the domain hobbled through the registrar by the feds in 2006 .
The UIGEA followed later in the year and the US market was increasingly restricted by enforcement actions from there onward.
For players and investors it was a financial disaster as the company effectively disintegrated, and this week a sequel illustrated how far the value of this once gold-plated domain has sunk.
The BetonSports.com domain was sold through GoDaddy for a paltry $4,900 to one Deanna Morely from Costa Rica.
Interestingly, Morley has a history with former main stakeholder Gary Kaplan; she was president of a Costa Rica-based company entitled Bulma International, where Kaplan was at one time listed as company secretary.
Morley has not given any indication of her plans for the domain, but Kaplan has been out of jail since 2011 and has paid his debt to society, so who knows what surprises may be in store?
