Dicks was given back his passport after a ten minute hearing in a New York County Court in whcih the Judge told him he could leave the US provided he returned for a further hearing later this month. His bail was set at $50,000, small change compared to the $1 million that it cost BetOnSports CEO David Carruthers to get out of jail.

Dicks’ resignation was accepted “with great reluctance” by Sportingbet who added that the office of New York Governor George Pataki had withdrawn the necessary warrant to transfer Dicks to Louisiana.

The effect on the share price was immediate with news of the court ruling sending shares up by 25 percent to close at 192 pence.