BetonSports, the online betting firm at the centre of a US Justice Department indictment, has said that it no longer considers its US-facing operations, which contribute 95 per cent of its profits, to be viable.

The Costa Rica-based company – which is listed on the London Stock Exchange – announced on 20 July that it would be “temporarily discontinuing” its North American business under a restraining order by US authorities, brought about by the indictment of its chief executive David Carruthers and founder Gary Kaplan, along with nine other individuals on racketeering, conspiracy and fraud charges.

BetonSports said that it “would not knowingly accept any wagering transactions from US-based customers”.

The company also cancelled its scheduled announcement of key performance indicators for the second quarter.

While BetonSports has said it will focus on its Asian front, analysts have surmised that it may well have to sell its remaining operations to settle outstanding liabilities.