Interim Results

betinternet.com PLC
9 February 2001


betinternet.com plc interim results for the six months ended 30th November 2000

Financial Highlights:
Turnover up 103%, at £23.79M, over turnover achieved for the entire year ended
30 May 2000
Pre-Tax losses increase slightly to £1.46M (£1.04M for the year to May 2000)
Loss per share reduced to 1.85p (1999: 3.01 p for the previous 12 months)

Corporate Summary
Appointment of David Craine as Finance Director
Euro Off-Track signed exclusive agreement with Irish Greyhound Board.
Increased brand recognition after Euro 2000

Largest customer base seen in the Asia Pacific region
51% of customers in 20-30 age bracket
Growth in soccer betting, which now accounts for 70% of turnover

Commenting on today's results, Vincent Caldwell, Chairman and CEO of
betinternet.com plc said:

'Today's results show that betinternet is well placed amongst its competitors.
We are seeing a significant increase in new internet customers per month. Most
encouragingly we are attracting significant numbers of new customers from the
Asia region. There is an increase in multiple or 'exotic' wagers and a reduction
in average stakes which will increase gross margins for the Company. We are
particularly excited by the prospect of the 2002 World Cup in Japan and Korea,
an event and a region where betting is incredibly popular'

For further information, please contact:

Vincent Caldwell, Chairman and CEO, betinternet.com plc    Tel: [phone]
John Moriarty / Matthew Locke, Hill and Knowlton Financial Tel: [phone]

Page 1

CHAIRMAN'S REPORT

Key Financials
I am pleased to report that, during the six months ended 30 November 2000,
turnover rose to £23.79m, an increase of 103 per cent over turnover achieved for
the entire year ended 31 May 2000.

Pre-tax losses of £1.46M, compared with losses of £1.04M for the year to May
2000, reflect our continuing commitment to substantial investment in technology
infrastructure and marketing. Consequently, the results for the six months
represent a loss per share of 1.85p compared with a loss of 3.01 p for the
previous year.

Strategy 
The Company's strategy remains focused on positioning betinternet.com as an
innovator and leading provider of Internet betting services. We are continuing
to target sports content channels on the Internet and gambling communities, with
a focus on Far Eastern football orientated content provider sites.
         
Trading activity
Since the start of the football season in August, turnover has continued to
increase and, with our wide range of betting opportunities, we are attracting
significant numbers of new customers who make more frequent and smaller bets
which has a positive impact on gross margin.

The profitability of the whole industry was affected by the Euro 2000 Soccer
Tournament, and this resulted in flat gross margins for betinternet.com. 
However, on a positive note, the tournament was an important factor in
increasing the exposure of the betinternet.com brand in the global market.

Customer Activity
Betting on soccer now represents over 70% of the Company's business as this
sport dominates the world market, with some 127 countries now showing English
Premiership football live to their audiences. The Company's fastest growing area
is in the Far East, and the Directors believe that our brand and market
penetration will assist it in delivering a competitive advantage for the 2002
World Cup, co-hosted in Japan and Korea.

Management
The Board is delighted to announce the appointment of David Craine as Finance
Director. He was previously Finance Director and Company Secretary of The London
Stock Exchange listed Peregrine International PLC.


Page 2

CHAIRMAN'S REPORT

Joint Ventures
Last October we announced the establishment of Euro Off-Track, our 50/50
partnership with The Greyhound Channel Inc. of America.

Under this joint venture Euro Off-Track will establish a European Totalisator
Wagering Hub which will allow both betinternet.com clients and B2B partners to
participate in Global Totalisator Pools. By developing Totalisator Wagering,
betinternet.com will secure margins which are risk free from a betting
perspective, and where the opportunity to grow turnover is considerable.

This was followed by an announcement on the 19 January 2001 in which Euro
Off-Track signed an exclusive broadcast and wagering agreement with the Irish
Greyhound Board. This permits the international broadcasting of Irish greyhound
racing and, through a live feed, direct betting into the Board's Irish
Totalisator Pools from outside Ireland. We are confident that this development
will increase our Internet client base, revenues and profitability.

Technology
Our technology has proved to be exceptionally reliable with 99.97% availability
of betinternet.com's services to our customers since March 2000.

betinternet.com will continue to benefit from its location in the Isle of Man,
which has one of the most advanced telecommunications infrastructures anywhere
in the world.

Conclusion
The past six months have been very encouraging with a strong increase in
turnover. The growth in the number of customers in the 20-30 age group is in
line with the Group's strategy. The changing profile of clients, increase in
multiple or 'exotic' wagers and a reduction in average stakes will increase
gross margins for the Company. Euro Off-Track's development of Totalisator
Wagering, initially with the Irish Greyhound Board, should lead to substantial
new revenue streams.

V E Caldwell                                     8 February 2001
Chairman

Page 3

 CONSOLIDATED PROFIT AND LOSS ACCOUNT
                                                              Period from
                                Six months to                Incorporation
                                  30 November                on 13 January
                                         2000  Year ended    1998 to 31
                                               31 May 2000   May 1999
                                        £'000    £'000         £'000
                                    UNAUDITED     AUDITED     AUDITED
 Turnover
 Betting stakes received              23,794       11,695       1,544
 Cost of sales
 Winnings paid and bets laid off      (23,451)     (11,285)     (1,559)
 Betting duty paid                        (73)         (35)         (5)

 Gross profit/(loss)                      270          375         (20)
 Administration expenses               (1,755)      (1,429)       (284)

 Operating loss                        (1,485)      (1,054)       (304)
 Interest receivable and similar income    54           27           6
 Interest payable and similar charges     (25)          (9)         (6)
     
  Loss on ordinary activities before 
  and after taxation and retained  
  loss for the year/period             (1,456)      (1,036)        (304)
     
  Basic Lost Per Share (pence)          (1.85)       (3.01)        (1.69)


The directors consider that all results derive from continuing operations
for both the current period and for the year ended 31 May 2000. A
statement of total recognised gains and losses is not required as there
were no recognised gains and losses other than the loss for the current
period. This was also the case for the previous periods shown. 
The earnings per share calculation is based upon the loss for the period after
taxation and the weighted average number of shares in issue throughout the
period.


Page 4

CONSOLIDATED BALANCE SHEET
                                           30
                                        November     31 May       31 May
                                          2000         2000         1999
                                         £'000        £'000        £'000
                                        UNAUDITED     AUDITED      AUDITED
FIXED ASSETS                           
Intangible assets                         281             257         4
Tangible assets                           223             199        32
Long leasehold property                   121             120         -
                                          625             576        36
CURRENT ASSETS                                        
Debtors                                   534             204        14
Cash at bank and in hand                1,725           3,422        25
                                        2,259           3,626        39

CREDITORS: amounts falling due within   
 one year                               (1,270)        (1,143)     (129)

NET CURRENT ASSETS/(LIABILITIES)           989          2,483       (90)

TOTAL ASSETS/(LIABILITIES)               1,614          3,059       (54)

CAPITAL AND RESERVES
Called up share capital                    783            782       250
Share premium                            3,627          3,617         -
Profit and loss account                 (2,796)        (1,340)     (304)

EQUITY SHAREHOLDERS'
 FUNDS/(DEFICIT)                         1,614          3,059       (54)

Unaudited comparative figures for the six months ended 30 November 1999 are  not
available  as this period was prior to the company's listing on the Alternative
Investment Market of the London Stock Exchange, and management accounts had not
been prepared to a date coinciding with the 30 November 1999.

The interim results  on pages 4 and 5 have been prepared  in  accordance  with
applicable Accounting  Standards, using the  historical  cost  convention.  The
financial information for the six months ended 30 November 2000 was approved  by
the  Board on 8 February 2001. The financial information  contained  in  this
interim  report does not constitute statutory accounts for the  group  for  the
relevant periods. The interim report is unaudited but has been reviewed  by  the
auditors.  The results for period ended 31 May 1999 and the year  ended  31  May
2000  have  been  extracted  from  the Annual Report  and  Accounts,  with  each
receiving an unqualified auditors' report.

Page 5


DIRECTORS'SHARE INTERESTS

                      Beneficial Holdings                Share Options
                   7 February 2001  31 May 2000   7 February 2001   31 May 2000
                          No.           No.             No.              No.
                     (1p shares)     (1pshares)    (1p shares)       (lp shares)

V E Caldwell         15,633,500      15,633,500        300,000        300,000
D P Craine              182,247         182,247        100,000        100,000
W D Mummery                   -               -        500,000        500,000
P M Flanagan                  -               -      1,000,000      1,000,000
S P C Graham                  -               -        500,000        500,000
H Corkill                21,600          21,600        100,000        100,000

SUBSTANTIAL INTERESTS

                                        7 February 2001        31 May 2000
                                              Number of             Number of
                                       %       Ordinary        %     Ordinary
                                                 Shares                Shares
Pershing Nominees Limited            20.65   16,171,645     20.81  16,290,534
Mill Properties Limited              13.93   10,913,500     13.94  10,913,500
Jennifer Caldwell                     6.30    4,937,600      6.31   4,937,600
Diplomat Trust Company Limited        5.74    4,500,000      5.75   4,500,000
The European Trustee Company Limited  4.45    3,486,673      4.45   3,486,673
Martin Caldwell                       3.49    2,735,321      3.49   2,735,321

The directors are not aware of any other individual holdings in excess of 3%.

Page 6

REVIEW REPORT OF DELOITTE & TOUCHE ON THE INTERIM FINANCIAL STATEMENTS OF
BETINTERNET.COM PLC FOR THE SIX MONTHS ENDED 30 NOVEMBER 2000

INTRODUCTION

We have been instructed by the company to review the financial information set
out on pages 4 and 5. We have read the other information contained in the
interim report and considered whether it contains any apparent misstatements or
material inconsistencies with the financial information.

DIRECTORS' RESPONSIBILITIES

The interim report, including the financial information contained therein, is
the responsibility of, and has been approved by, the directors. The Listing
Rules of the UK Listing Authority require that the accounting policies and
presentation applied to the interim figures should be consistent with those
applied in preparing the preceding annual accounts except where any changes, and
the reasons for them, are disclosed.

REVIEW WORK PERFORMED

We conducted our review in accordance with guidance contained in Bulletin 1999/4
issued by the Auditing Practices Board. A review consists principally of making
enquiries of group management and applying analytical procedures to the
financial information and underlying financial data and based thereon, assessing
whether the accounting policies and presentation have been consistently applied
unless otherwise disclosed. A review excludes audit procedures such as tests of
controls and verification of assets, liabilities and transactions. It is
substantially less in scope than an audit performed in accordance with Auditing
Standards and therefore provides a lower level of assurance than an audit.
Accordingly, we do not express an audit opinion on the financial information.

REVIEW CONCLUSION

On the basis of our review we are not aware of any material modifications that
should be made to the financial information as presented for the six months
ended 30 November 2000.

Deloitte & Touche                      8 February 2001
Chartered Accountants
Grosvenor House
PO Box 250
Douglas
Isle of Man
IM99 1XJ

        
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DIRECTORS

Vincent Edward Caldwell            Chairman and Managing Director 
David Peter Craine                 Finance Director
William David Mummery              Technical Director
Patrick Michael Flanagan           Operations Director
Sean Patrick Ciaran Graham         Deputy Operations Director
Harley Corkill                     Non-Executive Director


SECRETARY 
David Peter Craine

REGISTERED OFFICE
Burleigh Manor 
Peel Road 
Douglas 
Isle of Man 
IM1 5EP

PRINCIPAL BANKERS

Isle of Man Bank           Bank of Ireland
2 Athol Street             St Stephens Green
Douglas                    Dublin 2
Isle of Man                Ireland
IM99 1AN

ADVOCATES                  SOLICITORS
Laurence Keenan            Binchys
Victoria Chambers          40 Lower Baggot Street
47 Victoria Street         Dublin 2
Douglas                    Ireland
Isle of Man 
IMI 2LD

AUDITORS
Deloitte & Touche
Chartered Accountants 
Grosvenor House
P 0 Box 250
66/67 Athol Street 
Douglas
Isle of Man 
IM99 IXJ

NOMINATED BROKER            NOMINATED ADVISER           REGISTRARS
Capital International Ltd   English Trust Company Ltd   Northern Registrars Ltd
PO Box 15                   12a Charterhouse Square     Northern House         
Mill Court                  London                      Woodsome Park
Hope Street                 EC1M 6NA                    Fenay Bridge
Castletown                                              Huddersfield
Isle of Man                                             HD8 0LA
IM99 5XH

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