..

Heritage Sports Abruptly Pulls Out of BetED.com Bailout Deal

Written by:
Jenny Woo
Published on:
Jun/16/2011

Jenny Woo here with an important breaking news story from the Web gambling hub of San Jose, Costa Rica.  The well-established Costa Rica-based online bookmaker Heritage Sports has reportedly bailed out of a “bailout” deal to assist BetED.com customers.  BetED.com shut down following an indictment against the company late last month.  Customers are yet to be paid as BetED.com principals claim the US Government froze all their assets.  Meanwhile, another company that had its domains seized that very same day, Bookmaker, was up and running with a new web address even before the old one featured the dreaded DOJ Seizure notice.  Bookmaker has not skipped a beat paying out customers either. 

On Thursday, Covers.com outed Heritage as the company that was looking to enter a deal with BetED.com.

From Covers:

Well, we finally did receive an update last night.

Nothing surprising here, but the deal we last heard was being negotiated several days ago is definitely dead as everybody suspected.

We were not given a reason, but since that deal is no longer an ongoing issue, I guess it is OK to mention that the partner in that failed deal was Heritage/Bet Horizon.

Since nobody will believe anything we say anyway, I suggest you ask them for any comment regarding the negotiations and what sort of deals were on the table and why it went sour.

To the guys at Heritage, who I like and was hoping would pull this off, I'm sorry for dumping this on you but unfortunately the situation is what it is. 

Regarding any future deals, we are not absolutely clear on that situation either, but it was indicated to us that they have received legal advice to lay low for a little while, which is why they haven't been in contact recently.

The original idea was to make a quick and quiet deal for the players and try to keep the matter as below-the-radar as possible, so as to not insult the DOJ with whom they will be negotiating soon enough.

When that situation turned into a three-ring circus with maximum coverage on all sides, it was decided that proceeding down that path at this time would make matters even more public and therefore not be a smart legal move.

Personally, I would rather get a deal done now, but I'm not position to tell anybody to ignore their legal advice.

So... now we are officially in the waiting mode.

Hopefully once things die down a bit, maybe they can reach out to other potential partners, or maybe even begin negotiating with the DOJ to release the funds.

In the meantime, now we need to begin our campaign to pressure th American government to stop stealing the money of innocent American Well, we finally did receive an update last night.

Good to see that Covers.com is doing their part to help Heritage Sports lay low lol.

Here in Costa Rica, meeting with a number of operators, I can tell you that there has been plenty of talk about the BetED.com crisis and nobody is happy with what is going on.

- Jenny Woo, Gambling911.com Senior International Correspondent

Gambling News

824 Arrests in Euro 2020 Gambling Bust

824 Arrests in Euro 2020 Gambling Bust

Hong Kong police on Monday arrested 824 and seized records detailing HK$3.6 billion worth of bets tied to an illegal sports gambling ring.

NFL Betting – Dallas Cowboys 2021 Season Win Total

NFL Betting – Dallas Cowboys 2021 Season Win Total

The first season of the Mike McCarthy era was a disaster as the Dallas Cowboys finished 6-10 falling well below their projected win total of 9.5. Things might have been different had Dak Prescott played the entire year, but a season-ending injury in Week 5 derailed those plans.

Casino Owner Donating Site for Las Vegas Shooting Memorial

Casino Owner Donating Site for Las Vegas Shooting Memorial

The casino company that owns the former Las Vegas Strip concert venue that in 2017 became the site of the deadliest mass shooting in modern American history said Monday it is donating part of the property for a permanent memorial.

Updated NBA Trade Odds - August 2, 2021

Updated NBA Trade Odds - August 2, 2021

The NBA free agency period begins today, Monday August 2, 2021, but before we dive into that group of players and their potential landing spots (coming tomorrow)

NFL Betting – Pittsburgh Steelers 2021 Season Win Total

NFL Betting – Pittsburgh Steelers 2021 Season Win Total

The Ben Roethlisberger era is coming to an end, but it isn’t there yet. Big Ben took a pay cut to return, and while the offense isn’t going to be as powerful as it once was it should still be good enough to keep the Pittsburgh Steelers near the top of the AFC North. The Steelers cashed the OVER on their 9.5 win total last season winning their first 11 games and claiming another division title with a 12-4 record.

Syndicate