Update

FOR IMMEDIATE RELEASE

                                                                  18 March 2005

                              BETINTERNET.COM PLC                              

                       ('betinternet' or the 'Company')                        

                                    UPDATE                                     

The Board of betinternet, the global on-line gaming group, is updating
shareholders on two recent developments.

Global Coresports Limited (`Coresports')

betinternet has reached agreement to take a 22.5% stake in Coresports for a
consideration of £250,000. Coresports was formed to exploit artificial
intelligence technology to create a unique virtual reality gaming experience
that can be played in real-time and on-demand in a multi-player format. The
first application, which has a working title of `coreFootball' is an online
football management game and is already in an advanced form of development with
a global launch anticipated in mid 2005. Following `coreFootball', other sports
team games are expected to be developed.

The system architecture has been developed over the last 3 years by six leading
Cambridge academics, all of whom have extensive experience of start-up
ventures, particularly in the area of biotechnology. Specifically, use has been
made of the technology involved in drug design applications to simulate
`real-time' reactions by the virtual reality team players. Individuals within
the academic team have backgrounds of playing and coaching soccer at
professional and amateur levels and the team is therefore able to match the
theoretical scenarios with practical experience.

betinternet has negotiated an exclusive six month agreement to exploit the
wagering opportunities presented by the game. In addition, through its equity
stake in Coresports, betinternet will benefit from the global licencing of the
wagering and skill-based applications provided by `coreFootball' and the
successor team games as they are rolled out.

International Players' Association (`IPA')

Following its statement of 27 January 2005, the board of betinternet has become
aware that two officers of IPA are being investigated by New York regulatory
authorities. Accordingly, activities with IPA, which has provided Euro
Off-Track, a subsidiary of betinternet, with player referral services for
approximately two years, have been suspended, pending further clarification.

The business introduced by IPA brought large turnover, but low margins (less
than 2%). Turnover in the second half of the year is likely therefore to be
less than in the first half, but the margin percentage is expected to improve.
In addition, the Company is taking steps to accelerate and find alternative
sources of income. Specifically, encouraging progress is being made towards the
launch of a similar high volume activity which, if successful, would be managed
entirely by the Company, not requiring the assistance of a third party, such as
IPA, thus enhancing future returns. If agreement is reached on this new
activity, the Company expects that it will be launched, in full co-operation
with the US tracks, around the start of betinternet's new financial year. A
further statement will be made regarding this, once terms have been agreed.

Commenting today Paul Doona, Managing Director of betinternet said: 'We are
constantly seeking new income streams to diversify our business, and are
especially pleased at the potential new income stream which an interest in
Coresports will provide us with. This, together with a re-vamped high volume
wagering activity, is anticipated, in a relatively short period of time, to
replace the business lost by the suspension of the IPA activity.'

                                      END                                      

For further information:

betinternet.com plc Tel: [phone]

Paul Doona, Managing Director

Waughton Tel: [phone]

Robin Hepburn

Williams de Broe Tel: [phone]

Joanne Lake