BET stands for “Betting Exchange traded account” and is one of the more popular online gambling companies. While their main market is the United States, they do have a large British audience as well.
If you’re looking for an introduction to the online gambling world, this article is for you. We’ll cover everything from how to find and read the rules to making wise decisions in a casino. Let’s get into it.
The United States, Great Britain, and Ireland
To start, let’s talk about where you’ll find BET. As mentioned above, they are based in the United States but also have a large presence in Great Britain and Ireland. Now, this doesn’t mean that they only offer gambling opportunities in those three countries. In fact, they also have an established presence in Canada, Japan, and a number of other places. For the most part, however, they are most well known for their poker products in the United States.
Since it’s prohibited by law to offer gambling opportunities to U.S. citizens, they mostly target people located outside of the country. That way, they can legally provide services to them. In spite of that, there are still plenty of places where you can find their casino games. For example, if you search for “BET casino” in the Google Play Store, you’ll find them. Or, if you search for “BET roulette” or “BET blackjack” in the App Store, you’ll also find their games.
While it is not required by law that you should know anything about a casino or its games, it always helps. If you have no idea what a 9 to 1 ratio means, then you’re probably not going to end up winning many prizes. On the other hand, if you are familiar with the concept, then you might be able to make more informed decisions when playing. That being said, just because they are based in the U.S. does not mean that everything is Americanized and follows the laws and customs of the country. Some of their products are simply designed to take advantage of the country’s laws. That way, you can’t help but win.
Luckily for you, we’re here to help. Below, you’ll find all the necessary information you need to know about BET.
The company’s registered name is BetOnSports Limited, a company registered in England in 2014. While they don’t offer any information about their official website, they do list the following as their registered business address:
- Unit 3, Flat 3, Oakleigh Park, London, NW6 2BF
- Registered Director: David Higgins
- Principal Place of Business: England
- Directors: Adam Fiddes, Richard Gutteridge, David Higgins
- There’s generally nice people who work in casinos. Just be careful who you trust.
- No matter what, the house always wins.
- You’ll need to read the rules before you play or else you might find yourself in trouble. (Don’t worry, we’ll cover that later.)
- If you’re just getting started, then don’t play with real money. (Just play for fun and practice until you can play for money.)
- The more you play, the more you’ll earn. (Just play responsibly.)
- If you’re located in the U.S., then the most you can win is $600 per day, per person. (You can find the daily maximum won amounts for various games on the rules page for each casino.)
This is fairly self-explanatory. It’s the registered name of the company, along with some basic information about the directors and their ties to the business.
BET’s stock trading symbol is BET and it is incorporated under the Securities Act of 1933. In addition to being listed on the New York Stock Exchange, the stock has also been approved for listing on other major stock exchanges around the world. Since 2014, shares of BET have seen significant price increases, rising from a low of $3 per share to a high of $32 per share as of September 12, 2018.
While they don’t list any people by name on their Form 10-K, the company’s largest single shareholder is British American Tobacco PLC, with a 30% stake in the company. Then, there’s Next Generation Gaming (NGG), a company that owns 40.7% of BET. It’s chairman and co-founder Dr. Charles S. Groff, who also serves as NGG’s chief scientific officer, had this to say about Next Generation Gaming’s investment in BET:
“We’re thrilled to partner with an organization whose products we so admire. Together, we hope to transform the way people think about and interact with data.”
On the other side of the coin, there’s RONA International, an investment company whose CEO, David Jones, also serves as a director at BET.
Financial Data For The Years Ending In 2
For the year ending March 31, 2018, BET reported revenues of $128.9 million and adjusted EBITDA of $59.5 million. Net income for the year was $20.8 million, which the company reported after making an income tax expense of $8.9 million. In addition, according to their Form 10-K, they had $60.2 million in capital expenditures (including equipment and furniture).
BET’s biggest expense is paying commissions to agents and third-party service providers, which were $99.5 million in 2017. Then, there’s legal and accounting fees which totaled $15.5 million for the same year. Finally, there’s “Marketing expenses,” a catch-all category which includes advertising and public relations costs. That amounted to $13.6 million in 2017.
Looking at their historical financial data, BET filed for bankruptcy in 2015 and emerged from bankruptcy protection three months later, in June 2015. As of December 31, 2016, the company reported having $38.3 million in cash, $61.3 million in debt, and a net worth of zero. In 2018, they reported having a positive net worth of $53.3 million.
Before we get started, let’s talk about what to expect from this article. On one hand, it will give you a general idea of what to look out for when playing in a casino. On the other hand, you’ll learn about the company that owns the casino, which will help you better understand what’s going on when you play.
To start, here’s a short summary of what you need to know about the gambling industry:
Key Facts About This Product
Now that you’re equipped with the necessary information, let’s discuss some important facts about this product:
It’s Probably a Scam
While there are plenty of reputable casinos out there, there are always those that try to take advantage of innocent people. Unfortunately, there’s no way to know if a casino is trustworthy or not. The best thing you can do is be smart and play only at reputable casinos. Just remember, the odds are always against you, as they try to attract as many players as possible. Even at a reputable casino, you might meet people who try to rip you off. So, just beware.
It Has One Of The Most Manipulated Financial Statements
Looking at a casino’s financial statements is not very productive. They’re always trying to manipulate the numbers to make it seem like they’re doing better than they really are. In addition to that, many casinos don’t have the best track record when it comes to being transparent about their finances. Just keep that in mind when looking at their income and expenses.
Most Popular Games
Now that you’re equipped with the basics of this scam, it’s time to discuss a few of the most popular games at the casinos. As mentioned above, the company’s main focus is on poker and sports betting. Here’s a short summary of what those games are and how they work: