'USA facing' online/phone sportsbook and internet casino venture BETonSPORTS joined AIM in July, raising $44m through a placing to fund expansion into Central and South America, and other countries with under-developed wagering and gaming markets. Flotation also helped the company buy out the 49% of the Millennium companies it didn't already own for $25m. Though this is a fast growing operation, in the 6 months ending 1 August, profit before tax inched up from $4.1m to $4.4m on a lower turnover of $403.4m ($429.8m). BETonSPORTS is at the mercy of sporting results, and the numbers suffered by comparison with the first half of 2003, when there was an unprecedented period of favorites losing. BETonSPORTS is also a highly seasonal operation, enjoying the bulk of its turnover, margin and profits in the second half year. Last year to January, pre-tax profits weighed in at a bumper $27m, up from a mere $0.6m in 2000, on a top line $1.25bn. This year, Evolution analyst Robin Chhhabra forecasts an increase to $31.1m from revenues of $1.4bn. Intriguingly BETonSPORTS recently launched a poker game named BoSPOKER.com with a high profile charity poker party in Beverley Hills at which professional players challenged celebrities including 'Friends' star Matthew Perry. Its about time the market regarded the shares more amicably. Buy.