Feeds

UK company gambles on US success

Tax-free betting to reap big rewards

  • alert
  • submit to reddit

High performance access to file storage

A British company is planning to launch a tax-free online gambling service that will tap into the heavily regulated betting industry in the US. Sportingbet.com -- the trading name of NetBet -- is planing to launch the service in the US in March. The site is currently undergoing beta testing. A similar service for the UK has been up and running since October. Since then, the company has registered more than 800 punters who, between them, are spending £40,000 a week on trying to beat the odds. But according to MD Mark Blandford, this is just chicken feed compared to the turnover the site could be generating in a couple of years. "The online market is huge and more and more people are using the Net for everyday transactions such as betting. "Based on similar betting services in the Caribbean, we anticipate that we'll be turning over £40 million in two years -- and £80 million in three years time," he said. Sportingbet.com is the first British online tax-free betting service. Operating out of Alderney in the Channel Islands, the company has received one of three electronic licences which allows it to conduct its betting business tax-free. ®

Top three mobile application threats

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Record labels sue Pandora over vintage song royalties
Companies want payout on recordings made before 1972
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
Number crunching suggests Yahoo! US is worth less than nothing
China and Japan holdings worth more than entire company
prev story

Whitepapers

SANS - Survey on application security programs
In this whitepaper learn about the state of application security programs and practices of 488 surveyed respondents, and discover how mature and effective these programs are.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.