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Whither Bodog?

I'm not a financial expert, but this can't be good:

Online gambling website Bodog.com was out of service Monday and remained inoperative Tuesday, apparently due to a $48.6-million default judgment obtained by a Las Vegas company against Bodog in a patent infringement case.

By Tuesday afternoon, Bodog had established a new website, www.newbodog.com, which is virtually identical to the old site and enabled Bodog clients to resume their online gambling activities.

In a news release issued late Tuesday, Bodog founder and part-time Vancouver resident Calvin Ayre, said "the problems result from a dispute over the ownership of the Bodog.com domain name."

"We are fighting this dispute and are confident that we will win," he said in the release.