The Financial Services Regulatory Commission (FSRC) of Antigua and Barbuda has stepped in to assist and supervise BoS (Antigua) Ltd’s efforts to settle debts. BetOnSport (BOS) is about to get some help.

The website shut shop last year following a legal trade issue with the United States which was seen to be clamping down on offshore online gambling operations used by Americans.

Settlement of accounts by the online gambling website, BetOnSport (BOS), is to get underway shortly.

“The process has been implemented under the supervisory authority given to the FSRC in order to give extra reassurance to organisations that funds returned that will be properly used in the settlement of creditors in line with legal requirements, as well as assuring that BOS creditors will be paid in a fair and balanced manner,” the Commission stated.

“We are pleased with the agreement of BOS’s Directors to cooperate with Antiguan and Barbudan authorities to ensure the proper discharge of creditors, namely players and employees in this difficult case. As regulators, it is our responsibility to ensure that licensees operate properly at all times even under adverse conditions.

We expect that our involvement and the cooperation of BOS will encourage the prompt payment of amounts owed to BOS by payment processors and others, so that funds can be promptly returned knowing that they will be distributed properly,” said Kaye McDonald, Director of the Financial Services Regulatory Commission, Division of Gaming.