U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB

(Mark One)
[X]                  QUARTERLY REPORT UNDER SECTION 13 OR 15(D)
                     OF THE SECURITIES EXCHANGE ACT OF 1934
               For the quarterly period ended: September 30, 2000

[ ]                 TRANSITION REPORT UNDER SECTION 13 OF 15(D)
                     OF THE SECURITIES EXCHANGE ACT OF 1934
   For the transition period from _____________________ to __________________

                         Commission file number: 0-30263

                              SUREBET CASINOS, INC.
        (Exact name of small business issuer as specified in its charter)


           UTAH                                                 75-1878071
(State or other jurisdiction of                                (IRS Employer
incorporation or organization)                              Identification No.)


                 1610 BARRANCAS AVENUE, PENSACOLA, FLORIDA 32501
                    (Address of principal executive offices)

                                 (850) 438-9647
                           (Issuer's telephone number)

                                 NOT APPLICABLE
              (Former name, former address and former fiscal year,
                         if changed since last report)

         Check whether the issuer (1) filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such
shorter period that the registrant was required to file such reports), and (2)
has been subject to such filing requirements for the past 90 days. Yes X No ___

         State the number of shares outstanding of each of the issuer's classes
of common equity, as of the last practicable date:

            7,884,038 SHARES OF COMMON STOCK, $.001 PAR VALUE, AS OF
                               SEPTEMBER 30, 2000

   Transitional Small Business Disclosure Format (check one):  Yes   No  X




<PAGE>


                      SUREBET CASINOS, INC. AND SUBSIDIARY
                              INDEX TO FORM 10-QSB
<TABLE>
<CAPTION>
                                                                                     PAGE
<S>               <C>                                                                <C>
PART I.           FINANCIAL INFORMATION

     ITEM 1.      Consolidated Balance Sheets as of September 30, 2000 and             3
                  March 31, 2000

                  Consolidated Statements of Operations for the three and six          4
                  months ended September 30, 2000 and 1999

                  Consolidated Statements of Cash Flows for the three and six          5
                  months ended September 30, 2000 and 1999

                  Notes to Consolidated Financial Statements                           6

     ITEM 2.      Management's Discussion and Analysis of Financial Condition          9
                  and Results of Operations for the three and six months ended
                  September 30, 2000 and 1999

PART II.          OTHER INFORMATION

     ITEM 1.      Legal Proceedings                                                   11

     ITEM 2.      Changes in Securities and Use of Proceedstions                      11

     ITEM 3.      Defaults Upon Senior Securities                                     11

     ITEM 4.      Submission of Matters to a Vote of Security Holders                 11

     ITEM 5.      Other Information                                                   11

     ITEM 6.      Exhibits and Reports on Form 8-K                                    11

Signatures                                                                            12
</TABLE>


                                       2

<PAGE>



                      SUREBET CASINOS, INC. AND SUBSIDIARY
                           CONSOLIDATED BALANCE SHEETS
                      SEPTEMBER 30, 2000 AND MARCH 31, 2000
                                  (UNAUDITED)
<TABLE>
<CAPTION>

                                               ASSETS

                                                                      30-SEP               31-MAR
                                                                   ------------         ------------
CURRENT ASSETS:
<S>                                                                <C>                  <C>
  Cash  and cash equivalents                                       $   183,323          $    36,677
  Accounts Receivables                                                  11,983                6,116
  Inventory                                                              6,795                8,715
                                                                   ------------         ------------
    Total current assets                                               202,101               51,508
                                                                   ------------         ------------

FURNITURE, LEASEHOLD IMPROVEMENTS AND EQUIPMENT:
  Furniture and equipment                                               39,324               37,252
  Leasehold improvements                                                88,460               88,460
  Accumulated depreciation                                            (12,548)              -12,548
                                                                   ------------         ------------
    Net furniture and equipment                                        115,236              113,164
                                                                   ------------         ------------

OTHER ASSETS:
  Deposit on claim                                                     140,000              140,000
  Deposit on Colorado casino Lease                                     200,000              200,000
  Other                                                                    992                  992
                                                                   ------------         ------------
    Total other assets                                                 340,992              340,992
                                                                   ------------         ------------
      TOTAL ASSETS                                                 $   658,329          $   505,664
                                                                   ============         ============

                           LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)

CURRENT LIABILITIES:
  Accounts payable and accrued liabilities                         $   398,879             $276,666
  Due to Shareholder                                                   118,000              121,473
  Due to CSL Development Corporation                                 1,104,960              267,589
                                                                   ------------         ------------
    Total current liabilities                                        1,621,839              665,728
                                                                   ------------         ------------
Stockholders' equity (deficit):
  Preferred stock, $.01 par value, 500,000 shares authorized,
    none issued and outstanding                                            -                    -
  Common stock, $.001 par value, 50,000,000 shares authorized,
    7,884,038 and 7,849,478 shares issued and outstanding                7,884                7,849
  Additional paid-in capital                                         5,577,219            5,555,654
  Accumulated deficit                                               (6,548,613)          (5,723,567)
                                                                   ------------         ------------
    Total stockholders' equity (deficit)                              (963,510)            (160,064)

      Total Liabilities and Stockholders' Deficit                  $   658,329          $   505,664
                                                                   ============         ============
</TABLE>

    The accompanying notes are an integral part of these financial statements


                                       3
<PAGE>



                      SUREBET CASINOS, INC. AND SUBSIDIARY
                      CONSOLIDATED STATEMENTS OF OPERATIONS
             THREE AND SIX MONTHS ENDED SEPTEMBER 30, 2000 AND 1999
                                  (UNAUDITED)
<TABLE>
<CAPTION>
                                                             THREE MONTHS ENDED                SIX MONTHS ENDED
                                                       -----------------------------     -------------------------
  REVENUES:                                               9/30/00          9/30/99          9/30/00        9/30/99
                                                       ------------     ------------     ------------     --------
<S>                                                    <C>              <C>              <C>              <C>
Casino Revenue                                         $   876,507      $       -        $ 1,375,403      $    -
Ticket sales                                                95,284              -            203,143           -
Food and beverage sales                                    168,554              -            313,595           -
                                                       ------------     ------------     ------------     --------
  TOTAL REVENUE                                          1,140,345              -          1,892,141           -


  EXPENSES:
Cost of food and beverage sales                            129,882              -            253,258           -
Casino operating costs                                     309,007              -            579,067           -
Casino vessel costs                                        781,923              -          1,449,658           -
Sales and marketing                                         36,039              -            124,782           -
General and administrative                                 178,672              -            340,422           -
Minority interest in losses                                    -                -            (30,000)          -
                                                       ------------     ------------     ------------     --------
  TOTAL OPERATING EXPENSES                               1,435,523              -          2,717,187           -
                                                       ------------     ------------     ------------     --------
  NET INCOME (LOSS) FROM OPERATIONS                       (295,178)             -           (825,046)          -


Operating losses of discontinued business                      -                -
                                                       ------------     ------------     ------------     --------
                                                       $  (295,178)     $       -        $  (825,046)     $    -
                                                       ============     ============     ============     ========

    Basic net income (loss) per common share:
 From continuing operations                                 ($0.04)                           ($0.10)     $    -
 From discontinued operations                                                                                  -
   Net income (loss)                                        ($0.04)                           ($0.10)     $    -
                                                       ============     ============     ============     ========
   Weighted average common shares outstanding            7,864,542          979,489        7,864,542       979,489
                                                       ============     ============     ============     ========
</TABLE>








    The accompanying notes are an integral part of these financial statements

                                       4
<PAGE>



                      SUREBET CASINOS, INC. AND SUBSIDIARY
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
             THREE AND SIX MONTHS ENDED SEPTEMBER 30, 2000 AND 1999
                                  (UNAUDITED)
<TABLE>
<CAPTION>

                                                             THREE MONTHS ENDED                 SIX MONTHS ENDED
                                                         ---------------------------       ---------------------------
                                                           9/30/00         9/30/99          9/30/00          9/30/99
                                                         ----------       ----------       ----------       ----------
<S>                                                      <C>              <C>              <C>              <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)                                        $(295,178)       $     -          $(825,046)       $     -
ADJUSTMENTS TO RECONCILE NET LOSS TO NET CASH
    used in operating activities:
Depreciation                                                                                                      -
Shares issued for services
Gain on transfer of net liabilities to Imperial
Minority interest in losses                                    -                -            (30,000)             -
Changes in operating assets and liabilities:                   -                -
  Accounts receivable                                       (5,461)             -             (5,867)             -
  Inventory                                                    -                -              1,920              -
  Other assets                                              21,898              -                -
  Accounts payable and accrued liabilities                  419,588             -            956,111              -
  Net liabilities of discontinued operations
                                                         ----------       ----------       ----------       ----------
    Net cash used in operating activities                  140,847              -             97,118              -
                                                         ----------       ----------       ----------       ----------

CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of furniture and equipment                            -                -              (2,072)            -
                                                         ----------       ----------       ----------       ----------

CASH FLOWS FROM FINANCING ACTIVITIES:
Net advances from shareholder                                                                                     -
Sale of shares of subsidiary to minority interests             -                -             30,000              -
Sale of common shares                                          -                -             21,600              -
                                                         ----------       ----------       ----------       ----------
    Net cash provided by financing activities                  -                -             51,600              -
                                                         ----------       ----------       ----------       ----------

Net increase (decrease) in cash and cash equivalents       140,847              -            146,646              -

Cash at beginning of period                                 42,476              -             36,677              362
                                                         ----------       ----------       ----------       ----------

Cash at end of period                                    $ 183,323        $     -          $ 183,323        $     362
                                                         ==========       ==========       ==========       ==========


SUPPLEMENTAL DISCLOSURE:
  Total interest paid                                    $     -          $     -          $     -          $     -
                                                         ==========       ==========       ==========       ==========
</TABLE>


    The accompanying notes are an integral part of these financial statements


                                       5
<PAGE>


                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


     UNAUDITED FINANCIAL INFORMATION

          The accompanying unaudited condensed consolidated financial statements
     of sureBET Casinos Inc. and its majority-owned subsidiaries (the "Company")
     have  been  prepared  in  accordance  with  generally  accepted  accounting
     principles for interim  financial  information and with the instructions to
     Form  10-QSB  of  Regulation  S-B  of  the  U.S.  Securities  and  Exchange
     Commission.  They do not include all of the  information and notes required
     by  generally  accepted   accounting   principles  for  complete  corporate
     financial statements.  However,  except as disclosed herein, there has been
     no  material  change  in the  information  disclosed  in the  notes  to the
     financial  statements  for the year ended  March 31,  2000  included in the
     Company's  Annual Financial Report on Form 10-KSB filed with the Securities
     and Exchange Commission.  The unaudited financial statements should be read
     in conjunction with these financial  statements included in Form 10-KSB. In
     the  opinion  of  management,  all  adjustments  consisting  only of normal
     recurring accruals,  considered necessary for a fair presentation have been
     included.  Operating  results  for the  three and six  month  period  ended
     September 30, 2000 are not  necessarily  indicative of the results that may
     be expected for the year ending March 31, 2001.




2.   DESCRIPTION OF BUSINESS

          During the years ended  March 31, 1999 and 1998 and the periods  ended
     September 30, 1999 and 1998,  sureBET Casinos,  Inc. ("the Company") had no
     operating assets and had been investigating the acquisition of an operating
     business.  The  Company  changed  its name on June 24,  1999  from  Wexford
     Technology, Incorporated. In connection with an Agreement to Exchange Stock
     with U.S.  Gaming and Leisure  Corp.  ("USG&L")  (see  below),  the Company
     entered into an Asset Purchase Agreement (the "Agreement") on March 5, 1999
     with its controlling  shareholder,  Imperial Petroleum,  Inc. ("Imperial").
     The  Agreement  provided  that  Imperial  would  acquire all the assets and
     liabilities of the Company.  No  consideration  was exchanged in return for
     the  sale  of the  net  liabilities  of the  Company.  As a  result  of the
     Agreement, the Company had no assets or liabilities as of March 31, 1999 or
     September 30, 1999.

          Accordingly,  as a result of the Company's liquidation and abandonment
     of its  assets  and  liabilities  to a  "shell"  status,  the  Company  has
     accounted  for its  former  operations  as  discontinued  for  all  periods
     presented.  The common  stock  issued  for  services  for the period  ended
     September  30, 1999 has been reported as  continuing  operations  since the
     shares were issued to new continuing management of the Company.


          In connection  with the Agreement to Exchange Common Stock with USG&L,
     dated May 12, 1999,  which is contingent on a private  placement  which has
     not been  completed,  the Company will issue 6,000,000 new common shares to
     stockholders  of USG&L for 100% of the  outstanding  shares of USG&L.  As a
     result  of the  tax-free  transaction,  USG&L  will  become a wholly  owned
     subsidiary of the Company.  The owners of USG&L obtained  effective control
     of the Company in July 1999 by obtaining  control of the Board of Directors
     of the  Company.  USG&L is  presently in the business of

                                        6
<PAGE>

     operating a cruise ship and, after a private  offering to raise  additional
     capital, intends to also enter the gaming business. The transaction will be
     accounted for as a reverse  acquisition whereby USG&L will be the acquiring
     company for accounting purposes.


          On June 7, 1999,  there was a change in the Board of  Directors of the
     Company.  The new board changed the Company's business strategy and decided
     to enter  into the casino  business.  On June 24,  1999,  the  Articles  of
     Incorporation of the Company were amended to change the name of the Company
     to sureBET Casinos, Inc.


          Under the  direction  of its new  management,  the Company  intends to
     develop,  acquire, joint venture, manage, and operate gaming establishments
     with an initial focus on water-based  gaming,  the emerging gaming markets,
     and  the   rehabilitation   and   reorganization   of   casinos   that  are
     underperforming financially.


          On October 1, 1999,  the Company  entered into a  Management  Contract
     with Casino  Padre  Investment  Company,  LLC  ("Casino  Padre"),  a Nevada
     limited liability company. Under the terms of the contract, the Company has
     an exclusive  agreement to operate the gaming ship M/V  Entertainer and the
     gaming  operations  located on the ship on behalf of and for the account of
     Casino Padre  Investment  Company,  LLC. On October 27,  1999,  the Company
     acquired 50  membership  units in Casino  Padre  Investment  Company LLC in
     exchange  for  5,000,000  shares  of  the  common  stock  of  the  Company.
     Immediately  following  the  transaction,  the Company  owned 83% of Casino
     Padre  Investment  Company  LLC. The shares were  acquired  from Charles S.
     Liberis,  the President of the Company. The LLC was formed on September 14,
     1999  and at the time of the  acquisition,  was  still  in a  developmental
     stage.  Casino Padre  commenced  operations  on November  18,  1999.  As of
     September 30, 2000, the Company owned 61% of the LLC.


          The  Company  has  operated  the M/V  Casino  Padre as a casino  boat,
     conducting  day and evening  cruises of  approximately  six hours each from
     South Padre Island,  Texas. In addition to casino  operations,  the cruises
     feature a variety  of  shipboard  activities  including  sightseeing,  live
     music, and other entertainment.


          As of  September  30, 2000 Casino  Padre was in arrears on its charter
     payments to CSL  Development  in the amount of  $1,104,960.  On November 6,
     2000 CSL terminated the charter and Casino Padre ceased operations.


          On December 20, 1999, the Company entered into an agreement with Black
     Hawk Hotel  Corporation,  an  unaffiliated  entity,  to lease Lilly Belle's
     Casino,  an  existing  casino  facility  located in Black  Hawk,  Colorado.
     Pursuant  to the terms of the lease,  the Company has an option to purchase
     the premises. The lease is contingent on the Company receiving approval for
     the  transaction  and  issuance of  regulatory  licenses  from the Colorado
     Gaming Commission.


          The Company is currently  negotiating  a lease for a casino boat berth
     in Ft. Pierce,  Florida. The Company is negotiating to charter the MV Ocean
     Club.  It is the intent of the Company to operate the MV Ocean Club for Ft.
     Pierce, Florida with a commencement of operation expected in early December
     2000.


                                       7
<PAGE>


3.   GOING CONCERN


          The  Company's  financial  statements  have been prepared on the basis
     that it is a going concern,  which  contemplates  the realization of assets
     and the  satisfaction of liabilities in the normal course of business.  The
     financial  statements do not include any adjustments that might result from
     the outcome of this  uncertainty.  At September 30, 2000, the Company had a
     working  capital  deficiency  of  $1,419,738.   The  Company  has  reported
     cumulative net losses since  inception of $6,548,613.  The Company does not
     believe  that  it will be able to  meet  its  normal  operating  costs  and
     expenses from management fees and cash flow of Casino Padre.


          The  cash  requirements  of  funding  the  Company's   operations  and
     expansion have exceeded cash flow from operations. To date, the Company has
     satisfied its capital needs  primarily  through debt and equity  financing.
     The Company  continually  explores raising  additional capital through such
     means.


          The Company believes that it will be able to raise additional  capital
     through debt and equity financing  which,  along with anticipated cash from
     operations,  will be  sufficient  to meet  the  Company's  current  working
     capital needs for at least the next twelve months. However, there can be no
     assurance  that the  Company  will not  need to  raise  additional  capital
     sooner, particularly to take advantage of any expansion opportunities,  not
     currently  anticipated that may become available.  In such event, there can
     be no  assurance  that  additional  capital will be available at all, at an
     acceptable  cost,  or on a basis  that is timely to allow  the  Company  to
     finance any such opportunities.



                                       8
<PAGE>



ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.


The following Management's Discussion and Analysis or Plan of Operation contains
forward - looking  statements  about our plans and  business.  Actual events and
results may differ  materially from those  anticipated in these  forward-looking
statements.  The ability to achieve our projections  and business  objectives is
dependent  on a variety of factors,  many of which are  outside of our  control.
Some of the  most  significant  factors,  alone or in  combination  would be our
failure to obtain additional equity financing to fund development activities and
projected  losses from operations  and/or the inability to grow the revenues and
improve the financial performance of the company.  Accordingly,  there can be no
assurances that we will achieve our business objectives.


RESULTS OF OPERATIONS

THREE AND SIX MONTHS ENDED  SEPTEMBER  30, 2000 COMPARED TO THREE AND SIX MONTHS
ENDED SEPTEMBER 30, 1999

The sole  source of revenue  for the  Company  through  September  30,  2000 was
derived  from the  operation  of Casino  Padre.  During the three and six months
ending September 30, 1999 the Company had no financial operating  activity.  Our
revenue for the three months ended September 30, 2000 was $1,140,345 as compared
to $447,968 for the twelve  months ended March 31,  2000.  The 154%  increase in
revenue at Casino Padre was directly related to improved whether  conditions and
tourists visiting the island.

For the six months  ending  September  30, 2000 our revenue  was  $1,892,141  as
compared to the  $447,968 for the twelve  months ended March 31, 2000.  The 322%
increase in revenues was due to the reasons cited above.

Costs of sales for the three  months  ended  September  30, 2000 were  $129,882.
Selling,  general and administrative expenses were $178,672. A total of $309,007
was expended for the  operation of the casino and $781,923 for the  operation of
the vessel. Sales and marketing expenses for the period were $36,039.

Costs of sales for the six  months  ended  September  30,  2000  were  $253,258.
Selling,  general and administrative expenses were $340,422. A total of $579,067
was expended for the operation of the casino and $1,449,658 for the operation of
the vessel.  Sales and  marketing  expenses  for the period were  $124,782  with
($30,000) being allocated to the minority interest in Casino Padre.

The  above  resulted  in a net  loss of  $295,178  for the  three  months  ended
September 30, 2000 and a net loss of $825,046 for the six months ended September
30, 2000.


LIQUIDITY AND CAPITAL RESOURCES

Our cash  requirements  have been and will continue to be significant.  From our
inception  to September  30, 2000,  we have  financed our  operations  primarily
through the issuance of equity and debt securities, loans from stockholders, and
revenue from Casino  Padre.  At September

                                       9
<PAGE>

30, 2000,  we had a working  capital  deficit of $1,419,738  and an  accumulated
deficit of $6,548,613.

Net cash used in operating  activities for the three months ended  September 30,
2000 was $140,847 and $97,118 for the six months ended  September 30, 2000.  Net
cash was used primarily to fund the losses from operations.

Net cash provided by investing activities for the six months ended September 30,
2000 was  $51,600,  primarily  from  the sale of  common  stock in  sureBET  and
minority  interest in Casino  Padre.  At September 30, 2000, we did not have any
material commitments for capital expenditures.

Net cash provided by increases in accounts payable was $419,588 and $956,111 for
the three and six months ended  September 30, 2000,  primarily from increases in
payables  for the  charter of the  vessel.  The  amount  due to CSL  Development
increased from $267,589 at March 31, 2000 to $1,104,960 at September 30, 2000.

We expect our cash needs will continue to increase in future periods,  primarily
because we will incur  additional  expenses  related to the  development  of new
projects and continuing  operations.  Our company will need to raise substantial
additional funds to continue the development of new markets and products.

The cash  requirements  of funding the Company's  operations  and expansion have
exceeded  cash flow from  operations.  To date,  the Company has  satisfied  its
capital  needs  primarily  through  debt  and  equity  financing.   The  Company
continually explores raising additional capital through such means.

Under the present  circumstances,  our  ability to  continue as a going  concern
depends on our ability to obtain additional financing. The Company believes that
it will be able to raise  additional  capital through debt and equity  financing
which,  along with anticipated cash from operations,  will be sufficient to meet
the Company's current working capital needs for at least the next twelve months.
However,  there  can be no  assurance  that the  Company  will not need to raise
additional  capital  sooner,  particularly  to take  advantage of any  expansion
opportunities,  not currently  anticipated  that may become  available.  In such
event,  there can be no assurance that  additional  capital will be available at
all, at an acceptable cost, or on a basis that is timely to allow the Company to
finance any such opportunities.




                                       10
<PAGE>


                           PART II - OTHER INFORMATION


ITEM 1.  LEGAL PROCEEDINGS

         None.

ITEM 2.  CHANGES IN SECURITIES AND USE OF PROCEEDS.

         None.


ITEM 3.  DEFAULTS UPON SENIOR SECURITIES.

         None.


ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

         None.


ITEM 5.  OTHER INFORMATION.

         None.


ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

         (a)     Exhibits

The following exhibits are included with this report.
<TABLE>
<CAPTION>

     EXHIBIT
      NUMBER       DOCUMENT
     <S>           <C>
       2.1         Agreement to Exchange Common Stock with U.S. Gaming & Leisure Corp. (1)<F1>
       3.1         Articles of Incorporation, as amended (1)<F1>
       3.2         Bylaws, as amended (1)<F1>
      10.1         Asset Purchase Agreement with Imperial Petroleum, Inc. (1)<F1>
      10.2         Management Contract with Casino Padre Investment Company, LLC (1)<F1>
      10.3         Lilly Belle lease (1)<F1>
      10.4         South Padre Island Sublease and Dockage Agreement (1)<F1>
      10.5         Charter Agreement with CSL Development Corporation (1)<F1>
       21          Subsidiaries of the Registrant (1)<F1>
       27          Financial Data Schedule

                                       11
<PAGE>

<FN>
(1)<F1>  Previously filed as an exhibit to the Company's Registration Statement on Form 10-SB (File No. 0-30263)
         and incorporated by reference herein.
</FN>
</TABLE>


         (b)      Reports on Form 8-K

None.

                                   SIGNATURES

In accordance with the requirements of the Exchange Act, the registrant has duly
caused  this  report  to be signed on its  behalf by the  undersigned  thereunto
authorized.


                                        sureBET Casinos, Inc.
                                        (Registrant)


Date:  November 13, 2000                By:  /S/ CHARLES S. LIBERIS
                                           -------------------------------------
                                            Charles S. Liberis
                                            Chairman of the Board, Chief
                                            Executive Officer and President


Date:  November 13, 2000                By:  /S/ WAYNE E. MARKS
                                           -------------------------------------
                                           Wayne E. Marks
                                           Chief Financial Officer



                                       12