To: Carl (798 )
From: ocmayor Thursday, Jan 7 1999 2:54PM ET
Reply # of 2338
Subj: Letter to BETT shareholders
Date: 1/7/99 11:36:15 AM Pacific Standard Time
From: dirk1@gte.net (Tom Hughes)
Reply-to: dirk1@gte.net
To: OCMAYOR@aol.com
THIS SHOULD BE A PRESS RELEASE!!!!!!!!
Mike, please post this on the aol thread and on as many interest groups
as you can find.
Thanks. Tom
************************************************
From Tom Hughes to all BETT shareholders:
As you know, Betting Inc. has now merged with Ebet Inc.a private Nevada
corporation with no relation or affiliation with the website eBet.com.
Ebet inc. was created in an attempt to consolidate the now fragmented
global sports book and casino industry. This includes but is not
limited to the rapidly expanding virtual off shore casino and sports
wagering industry.
Ebet inc. has taken a management and ownership interest in
eSportsbet.com, which is presently a 5 month old non internet site
taking in $500,000 per month in sports book wagers.
As a result, Betting Inc. will receive in excess of 50,000 per month in
earnings, fully reportable in the 1999 10K.
eSportsbet.com will be soon be a fully functional internet site and will
thus expand its market share.
The 10K will be filed this month and we will then catch up on the Q's
etc. We will then call a BETT shareholders meeting to be held in Las
Vegas and we will formally change our name to eConnect. The stock
symbol will remain as BETT.
eConnect will be headed by Jim Wexler who has background in consulting
on sportsbooks and who has also worked as a successful broker at Bear
Sterns and Morgan Stanley. I am very confident in his abilities to
guide eConnect to substantial earnings by 2000 and to position eConnect
as the leader in the 200 billion dollar coming PERFECT wagering
industry.
I will head up the division of eGate, which is the Betting Inc. business
of routing PERFECT wagers from bank host processing centers such as ET&T
to gaming companies such as Goldmine casino, eSportsbet.com, VIP sports
and others who pay a service fee to eGate of $5 plus 4% of the account
open and account replenishment transactions orginating from a PERFECT
device.
Presently, ET&T can only accept credit cards and pays the merchant fee.
Soon, ET&T will be able to accept debit ATM cards and smart cards which
will be the same as cash to the gaming companies. Ladbroke is one of
the companies presently testing a PERFECT credit card account open or
account replenishment transaction.
Remember that eGate is presently deploying free equipment at car washes,
hotel lobbies etc., where waiting people can easily use our equipment
and their credit card to open or replenish an account with gaming
companies or replenish an account with gaming companies. Eventually,
this same type of equipment will migrate into the homes as a bill
payment device with ATM card debit or smart card payments. However, the
same home bill payment equipment will also be used to place PERFECT
wagers.
The eConnect division of eGaming will focus on the previous business of
Ebet Inc., which is the acquisition of sportsbooks, internet casinos,
and other gaming companies. These companies will retain their own
identity but will be wholly owned by eConnect.
eConnect is presently preparing a private placement offering for this
month in which you can purchasing 1 BETT stock share which is restricted
for 12 months plus also acquiring the option of two additional BETT
shares that will be free trading by May 1. For more information,
contact me at dirk1@gte.net.
Our eConnect staff of 12 professionals are extremely confident of our
path and anticipate substantial earnings for BETT over the next 24
months as the PERFECT industry becomes an everyday part of consumers
lives.
GO BETT!
Information contained in this news release, other than historical
information, should be considered forward looking and is subject to
various risk factors and uncertainties. Accordingly, actual results may
differ from those in any forward looking statements. These are foward
looking statements.
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