Sportingbet fined $33m in US

first_img whatsapp Tags: NULL KCS-content Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgWhy people are finding dryer sheets in their mailboxesnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgcenter_img Tuesday 21 September 2010 8:23 pm whatsapp Sportingbet fined $33m in US Share Sportingbet, a British online gambling company, has agreed to pay $33m (£21m) to avoid being prosecuted over an alleged illegal gambling operation in the US.US attorney Preet Bharara agreed not to charge Sportingbet after saying it broke US law by offering betting on sports events and casino games between 1998 and 2006.Barry Slotnick, a lawyer for Sportingbet, said the decision was a “good resolution for all”. He added: “It has been three-and-a-half years of hostility, anger and ultimate negotiation. We have reached what we believe to be an extremely fair resolution that benefits the company and its shareholders.”Sportingbet fell foul of a US law that effectively bans internet gaming. The US Department of Justice said Sportingbet deliberately used payment processing methods that were designed to deceive credit card issuers, which bar the use of their cards for internet gambling, and took steps to mask payments of winnings to customers.Sportingbet had agreed to cooperate with the government probe, and made employees available for interviews.Shares in the firm leapt 16 per cent yesterday as investors gambled on takeover offer now the case is effectively over.Further consolidation in the gaming industry is expected in the wake of the recent $3.3bn tie up between rival PartyGaming and Austria’s Bwin.Analysts at Altium Securities said: “With the removal of this major regulatory concern, we view Sportingbet as an ideal takeover target,” adding the fine was at the bottom end of their estimate. last_img

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