Betcorp Reviews US Business

Betcorp has stopped taking online bets from US customers via telephone and is reviewing its US-focused business. Experts are now wondering what the online gambling group new business strategy will be as the United States accounts for 85% of its revenue. 

Colin Walker, Betcorp's CEO, said: "Our Antiguan registered business takes the bets, and in the past we were assured by our advisors that we have operated on the right side of the law. Recent events have brought some doubt into the equation." 

Shares in the group fell by over 40% at the start of the BetonSports legal problems, prompting Betcorp to announce a rapid expansion into the European market. It did post a 146% rise in profits for the first half of 2006, to $4.6 million with player gross player revenues also rising 75% to $22 million.