Thread: BOS' David makes an ass of Leach

FOR IMMEDIATE RELEASE: April 4, 2006

BETonSPORTS CEO Cements Role as Lead Advocate for Regulation

In Online Debate with Rep. Jim Leach

LONDON - David Carruthers, CEO of online gaming firm BETonSPORTS plc (LSE:BSS), cemented his role as one of the industry's leading advocates for regulation in an interactive debate with U.S. Congressman Jim Leach.

The debate was hosted, and mediated, by the Wall Street Journal Online and was conducted over an e-mail exchange for most of the day on Monday.

Leach (R-Iowa) is a sponsor of a bill aimed at prohibiting the online gambling industry through the banking sector, the bill was marked up in a sub-committee earlier this month and referred to the full House Judiciary Committee for another hearing.

Carruthers and Leach debated the merits of the bill, which would use the banking industry to police online gambling sties by banning the use of credit cards, checks, and money transfers for Internet wagering transactions.

Leach got the debate started by arguing that Internet gambling sites "sweep dollars out of the U.S. into largely unknown, often criminal hands."

Carruthers responded by informing Leach that many of the same reasons he, and others, wish to prohibit the industry, are the exact same reasons that he is for regulation.

"Prohibiting online gambling would be catastrophic," he said. "Prohibiting the industry would have the exact opposite effect to what the congressman seeks. Prohibition would not stop online gambling, it would send it underground and leave the vulnerable unprotected."

The debate continued with Leach and Carruthers exchanging e-mails back and forth. Among some of the highlights of the debate was an open invitation from Carruthers for Leach to visit the BETonSPORTS corporate facility in San Jose, Costa Rica, or even sit down in Washington face-to-face to discuss the issue more, Leach declined the offer to visit Costa Rica saying that it would be "ethically dubious, if not illegal" for him to visit the company's operations.

The transcript of the entire debate can be found on a free section of the Wall Street Journal Online, the link is listed below:

http://online.wsj.com/public/article...f_main_tff_top

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About BETonSPORTS: Established in 1995, BetonSports is one of the largest licensed and publicly-traded online wagering companies in the world. Operated by BetonSports plc (LSE: BSS.L), BETonSPORTS is licensed in Europe and the Caribbean with offices in London, Costa Rica, Antigua, Guatemala, Mexico and Malaysia. BETonSPORTS plc owns and operates 20 different online gambling brands, including the world's most dynamic sports book, a casino, and a poker room. Visit www.BOSplc.com for more information.

Safe Harbor Statement: Statements in this announcement that are not strictly historical may be "forward-looking" statements, which involve risks and uncertainties. These include risks and uncertainties relating to customer and supplier relationships and prices, competition, market demand, litigation and other contingent liabilities, the integration and operation of acquired businesses, and economic, political, governmental and technological factors affecting BETonSPORTS plc's operations, markets, products, services and prices, among others, as set forth in public filings.
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Go David! Hope you'll be in Amsterdam so I can thank you!

Rep. Leach: Mr. Carruthers is correct that there is some imprecision in the Wire Act, which dates back to 1961. But there is little imprecision in the Professional and Amateur Sports Protection Act of 1993, which stipulates that it is "unlawful for a person to sponsor, operate, or advertise ... any gambling scheme ... based on games in which amateur or professional athletes participate."

When he calls for "regulation of our industry," he is really suggesting that gambling companies should be allowed to do legally what they are currently doing illegally. He is also suggesting not only that the law of the U.S. (the above two referenced statutes) but similar laws that currently exist in all 50 states be overturned.

Just about every casino in Vegas has a Sportsbook where you can gamble on Both amateur AND professional sports.

gambling companies should be allowed to do legally what they are currently doing illegally.

Sportsbetting may be illegal in some fashions, but there is no law against casino gambling online.

Why is the man constantly trying to get a law passed if there is one already?