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Gambling stocks down as BETOnSPORTS probed by FBI

by Darren

Now is not the best time to be in the online gambling business. The FBI is going after certain companies that offer online gambling.

The U.S. Department of Justice said on Monday that BETonSPORTS was among 11 individuals and four corporations facing various charges of racketeering, conspiracy and fraud. The founder of BETonSPORTS.com, Gary Kaplan, 47, was also charged with 20 felony violations, and a warrant has been issued for his arrest, it added.

20 felonies? Whoa. Hearing numbers like that, it makes you sort of glad you always ignored any instincts to get into the high paying online gambling market. BETOnSports has had a habit of ignoring legal issues. Until now. The FBI has even instructed companies handing backhaul for BETOnSports to cease operations.