To: ocmayor (781 )
From: SCOOBEY-DO Thursday, Jan 7 1999 3:59PM ET
Reply # of 2338
>From Tom Hughes to all BETT shareholders:
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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.
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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.
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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.
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As a result, Betting Inc. will receive in excess of 50,000 per month in earnings, fully reportable in the 1999 10K.
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eSportsbet.com will be soon be a fully functional internet site and will thus expand its market share.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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GO BETT!
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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 forward looking statements.
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To SI members,
Pleas post this to any other threads that you are members of ASAP.
Thanks. Scoobey
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