Another chapter of the Bet on
Sports saga has been written, and this time it involves two online casino
gambling portals who are claiming that the Board of Directors at Bet on Sports
is withholding player's funds without due cause. Filing a complaint with the
London Stock Exchange's Alternative Investments Market Regulatory News Service,
Chief Editor of The Online Wire (Roberto Castiglioni) and President of online
gaming portal, Gambling 911 (Chris Costigan), did so after receiving a
correspondence with NETeller's Corporate Development VP, Andrew Gilchrist, that
player funds were not on hold as the Bet on Sports Board had previously stated.
Although BOS never directly
referred to NETeller accounts in their statement, or that there is no hard proof
showing actual funds are in their possession, the fact remains that over 53,000
account holders with Bet on Sports (some of which are not U.S. citizens) have
not received their rightfully entitled payouts yet.
It is also true that NETeller
halted payouts to BOS when the U.S. Department of Justice stepped in and made
its initial indictment against the company. However, since that time,
NETeller has not been withholding funds from the BOS online cashier, who is
ultimately responsible for transferring funds into player accounts.
The complaint made with AIM is the
first of many steps needed to undertake a class action suit, which could
manifest if it is shown that BOS is holding onto funds which could be used to
pay out player accounts. The only reason Castiglioni and Costigan were able to
get their complaint accepted was because of their accusations of corporate
fraud. Without this component of the accusation, anyone other than BOS
shareholders would not be permitted to file a claim with the London Stock
Exchange. If investigations resulting from the complaint warrant to issuance of
a class action suit, account holders who have still not received their funds may
pursue legal action through the suit itself.