<PAGE>
                              UNITED STATES

                    SECURITIES AND EXCHANGE COMMISSION

                        Washington, D.C.  20549

                              FORM 10-QSB

           QUARTERLY REPORT PURSUANT TO SECTION 10 OR 15(d)
                OF THE SECURITIES EXCHANGE ACT OF 1934


For the quarterly period ended:  May 31, 1997

Commission file number:  33-68570



                           BETTING, INC.
        ----------------------------------------------------
       (Exact name of registrant as specified in its charter)


               MISSOURI                        43-1239043
       ----------------------       ----------------------------------
      (State of incorporation)     (IRS Employer Identification number)

                   31310 Eaglehaven Center, Suite 10
                 Rancho Palos Verdes, California  90275
         ---------------------------------------------------
        (Address of principal executive offices and Zip Code)

                            (310) 377-2803
          --------------------------------------------------
         (Registrant's telephone number, including area code)



     Indicate by check mark whether the registrant (1) has filed all reports 
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 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


Number of shares of common stock outstanding as of June 30, 1997:   6,639,234

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

<PAGE>
                               INDEX
                                                           PAGE
                                                           ----
PART I - FINANCIAL INFORMATION
Item 1. Financial Statements
   
     Balance Sheets for May 31, 1997 (Unaudited) 
      and August 31, 1996 (Audited)                          2

     Statements of Operations (Unaudited) for Three
      Months Ended May 31, 1997 and May 31, 1996 and
      Nine Months Ended May 31, 1997 and May 31, 1996        3

     Statements of Cash Flows (Unaudited) for Nine Months
      Ended May 31, 1997 and May 31, 1996                   4-5

     Notes To Interim Financial Statements                  6-7

Item 2. Plan of Operations                                  8-9

PART II - OTHER INFORMATION

Item 6. Exhibits and Reports on Form 8-K                     10

SIGNATURES                                                   10

Financial Data Schedule                                      11    


<PAGE>
                      PART I-FINANCIAL INFORMATION

Item 1.  Financial Statements

                            BETTING, INC.
                     (formerly Leggoons, Inc.)
                           BALANCE SHEETS
<TABLE>
<CAPTION>
                                                  May 31,        August 31,
                                                   1997             1996
                                                -----------      ----------
       ASSETS                                   (Unaudited)       (Audited)

<S>                                             <C>               <C>
Total Assets                                     $       0         $       0
                                                 ---------         ---------
     LIABILITIES AND STOCKHOLDERS' EQUITY


Current Liabilities:
 Due to stockholder                              $   35,135        $   8,188
 Accounts payable                                    28,666           12,339
 Due to related party                                11,000                0
                                                 ----------        ---------
     Total current liabilities                       74,801           20,527
                                                 ----------        ---------

Commitments and Contingencies

Stockholders' Equity:
 Common stock, $.01 par value, authorized
 10,000,000 shares; issued and outstanding, 
 6,132,734 and 2,787,000                             61,327           27,870
Preferred stock, $.01 par value, authorized 
 5,000,000 shares; issued and outstanding 
 - none                                                   -                -
Additional paid-in capital                        3,522,792        3,522,792
Accumulated deficit                              (3,658,920)      (3,571,189)
                                                 -----------      -----------
    Total stockholders' equity                      (74,801)         (20,527)
                                                 -----------      -----------
                                                 $        0       $        0
                                                 ==========       ==========
</TABLE>








See accompanying notes to interim financial statements
                                 -2-
<PAGE>

                            BETTING, INC.
                      (formerly Leggoons, Inc.)
                       STATEMENTS OF OPERATIONS
                            (Unaudited)
<TABLE>
<CAPTION>
                                  Three Months Ended      Nine Months Ended
                                May 31,     May 31,     May 31,       May 31,
                                 1997        1996        1997          1996
                                ------      ------      ------        ------
<S>                          <C>         <C>          <C>          <C>      
General and 
 Administrative expenses      $  51,819   $  54,541    $  87,731    $  68,907
                              ---------   ---------    ---------    ---------
Loss from continuing 
 operations                     (51,819)    (54,541)     (87,731)     (68,907)
                              ----------  ----------   ----------   ----------
Discontinued operations:
 Income (loss) from 
  discontinued apparel 
  operations                          0           0            0     (289,302)
     
Loss on disposal of 
 apparel operations, 
 including a provision of 
 $150,000 for operating 
 losses during phase-out 
 period                               0           0            0     (565,720)
                                --------   --------      -------     ---------
Loss from discontinued 
 operations before 
 extraordinary items            (51,819)          0      (87,731)    (855,022)
                                --------   --------      --------    ---------
Extraordinary item - 
 gain on restructuring
 of liabilities                       0       3,750            0       94,723
                               ---------   ---------    ---------   ----------
Net loss                       $(51,819)   $(50,791)    $(87,731)   $(829,206)
                               =========   =========    =========   ==========
Loss from continuing 
 operations per share          $   (.01)   $   (.02)    $   (.03)   $    (.02)
                               ---------   ---------    ---------   ----------
Net loss per common share      $   (.01)   $   (.02)    $   (.03)   $    (.30)
                               ---------   ---------    ---------   ----------
Weighted average shares 
 outstanding                   3,902,245   2,787,000    3,158,748   2,787,000

</TABLE>


See accompanying notes to interim financial statements
                                  -3-
<PAGE>
                             BETTING, INC.
                       (formerly Leggoons, Inc.)
                       STATEMENTS OF CASH FLOWS
                             (Unaudited)
<TABLE>
<CAPTION>
                                                     Nine Months Ended
                                                 -------------------------
                                                 May 31,            May 31,
                                                  1997               1996
                                                 -------            -------
<S>                                           <C>                <C>
Cash Flows From Operating Activities
     Continuing operations:
         Net loss                              $   (87,731)       $   (68,907)
         Changes in assets and liabilities:
          Accounts payable                          16,327                  0
                                                   --------           --------
          Cash used in continuing operations       (71,404)           (68,907)
                                                   --------           --------
         Discontinued operations:
         Net loss                                        0           (760,299)
     Adjustments to reconcile net loss to net 
      cash provided (used) by discontinued 
      operations:
       Depreciation and amortization                     0            106,230
       Gain on investment in partnership                 0             (3,500)
       Gain on restructuring of liabilities              0            (94,723)
       Estimated loss on discontinued operations         0            342,245
       Changes in assets and liabilities:
       Accounts receivable                               0                859
       Inventories                                       0            391,540
       Deferred charges                                  0            145,218
       Prepaid expenses                                  0             89,233
       Accounts payable                                  0           (238,150)
       Accrued expenses                                  0             16,002
                                                   -------           ---------
         Net cash used by discontinued operations        0             (5,019)
                                                   --------           --------
    Cash Used in Operating Activities              (71,404)           (74,252)
                                                   --------           --------
Cash Flows From Investing Activities:
       Discontinued operations:
       Decrease in other assets                          0                  0
       Distributions from partnership                    0                326
                                                   -------            -------  
         Net Cash provided by investing activities       0                326
                                                   -------            -------
</TABLE>


See accompanying notes to interim financial statements.
                                 -4-
<PAGE>
                              BETTING, INC.
                        (formerly Leggoons, Inc.)
                        STATEMENTS OF CASH FLOWS
                              (Unaudited)
<TABLE>
<CAPTION>
                                                     Nine Months Ended
                                                  ------------------------
                                                  May 31,           May 31,
                                                   1997               1996
                                                  ------            -------
<S>                                             <C>                <C>
Cash Flows From Financing Activities:
     Continuing operations:
      Proceeds from additional borrowings 
      from stockholder                            26,947                   0
       Proceeds from issuance of common stock     33,457                   0
       Proceeds from borrowings from related 
        party                                     11,000                   0
                                                  ------              ------
      Cash provided by continuing operations      71,404                   0
                                                  ------              ------
     Discontinued operations:
       Proceeds from additional borrowings from 
        stockholder                                     0            256,756
       Net proceeds (payments) on note payable 
        to bank                                         0           (150,278)
       Principal payments on long-term debt             0            (40,903)
                                                  -------           ---------
         Cash provided by discontinued operations       0             65,575
                                                  -------             ------
     Cash provided by financing activities         71,404             65,575
                                                  -------             ------
  Net decrease in cash                                  0             (8,351)
     Cash at beginning of period                        0              9,881
                                                  -------             -------
     Cash at end of period                        $     0             $1,530
                                                  =======             ======
</TABLE>














See accompanying notes to interim financial statements.
                                 -5-
<PAGE>

                            BETTING, INC.
                    (formerly Leggoons, Inc.)
              NOTES TO INTERIM FINANCIAL STATEMENTS

1.  Unaudited Interim Periods:

     The information furnished herein relating to interim periods has not 
been audited by  independent Certified Public Accountants.  In the opinion 
of the Company's management, the financial information in this report 
reflects any adjustments that are necessary for a fair statement of results 
for the interim periods presented in accordance with generally accepted 
accounting principles.  All such adjustments are of a normal and recurring 
nature.  The accounting policies followed by the Company, and additional 
footnotes, are set forth in the audited financial statements included in the 
company's Annual Report Form 10-KSB/A filed with the SEC in January 1997.

2.  Initial Public Stock Offering:

     On November 18, 1993, the Company completed an initial public offering 
in which it sold 900,000 Units at $3.125 per Unit.  Each Unit consisted of 
one share of Common Stock and one Class A Warrant.  Three Warrants entitle 
the holder thereof to purchase one share of Common Stock at $3.75 per share 
and expire on November 18, 1997.  The warrants are callable in total by the 
Company after November 18, 1994, at a redemption price of $.05 per warrant 
upon 60 days prior notice if the common stock has traded above $3.75 for at 
least 20 out of the 30 trading days preceding the date of the notice of 
redemption.  

3.  Earnings (loss) Per Share:

     Net earnings (loss) per share are computed using the weighted average 
number of common and common equivalent shares outstanding during the period.
The Class A Warrants issued during the public offering are anti-dilutive and 
have not been included in the computation of common equivalent shares 
outstanding.  Fully diluted net earnings (loss) per share for all periods 
presented is not materially different from primary net earnings (loss) per 
share.

4.  Income Taxes:

     Effective September 1, 1987, the Company elected to be taxed under 
Subchapter S of the Internal Revenue Code.  As such, the Company's taxable 
income or loss was included in the individual tax returns of its shareholders
for Federal and State income tax purposes. Upon the closing of the public 
stock offering on November 18, 1993, the Company terminated its Subchapter S 
election.  The company adopted Statement of Financial Accounting Standards 
No. 109, "Accounting for Income Taxes" effective September 1, 1993, the 
impact of which was immaterial.

     At May 31, 1997, the Company had unused net operating losses to carry 
forward against future years' taxable income of approximately $2,830,000 
expiring in various amounts from 2009 to 2011.

                                -6-
<PAGE>
5.  Discontinued Operations

     On January 19, 1996, the Company adopted a formal plan to discontinue 
the designing, selling, manufacturing and distribution of its apparel 
products.  As part of such plan, the Company discontinued production on 
April 30, 1996 and culminated with the Assignment for Benefit of Creditors 
on June 12, 1996.

6.  Disposition of Assets and Liabilities:

     On June 12, 1996, the Company transferred all of its assets and 
liabilities to a third party assignee, under an "Assignment for the Benefit 
of Creditors."  An Assignment is a business liquidation device available as 
an alternative to bankruptcy.  The third party assignee, a Nebraska 
corporation, also named Leggoons, Inc. (the "Assignee"), will be required to 
properly, timely, and orderly dispose of all remaining assets for the 
benefit of creditors.  The net liabilities as of June 12, 1996, were removed 
from the Company's financial statements by a corresponding credit to 
additional paid-in capital of $1,132,722.  The Company will continue to 
maintain its' status as a shell corporation.  

7.  Accumulated Deficit:

     As a result of the termination of the Company's S Corporation status on 
November 18, 1993, the accumulated deficit of $1,168,375 incurred through 
that date was closed out against additional paid-in capital.  The $3,658,920 
of deficit on the balance sheet at November 30, 1996, is the result of 
operations from November 18, 1993, to May 31, 1997.

8.  Commitments and Contingencies:

     During the three months ended May 31, 1997, the Company issued 
approximately 3,346,000 shares of common stock under various consulting and 
144 restricted stock agreements.  The value of these shares has been recorded
at the par value of the common shares issued pending further determination of
the appropriate fair market value or intrinsic value of these shares.










  

     

     

     


                                   -7-
<PAGE>
                   Item 2.      PLAN OF OPERATIONS

General:

     The primary general and administrative expenses incurred during the 
quarterly period ended May 31, 1997, were legal expenses related to the 
HPOS license agreement, consulting fees, and stock expenses.

HPOS License Agreement
----------------------
     On February 18, 1997, the Company entered into an Agreement to License 
Assets from Home Point of Sales, Inc.(HPOS).  HPOS is a privately held 
corporation focused on the emergence of the Personal Encrypted Remote 
Financial Electronic Card Transactions industry.  This industry provides 
consumers with the option to instantly pay bills or impulse purchase 
from home with real time cash transactions. Management believes the 
proprietary technology and the large demand for wagering opportunities in 
today's marketplace will combine to generate substantial sales for the 
Company over the medium term.  

Under terms of the Licensing Agreement, Leggoons will issue 2,900,000 shares 
of restricted common stock to HPOS in exchange for licensing home ATM card 
and SMART card wagering technology developed by HPOS.  Of this amount, 
2,755,000 shares will be placed in escrow and are subject to cancellation 
on February 10, 1998, in the event the bid price of the common stock of 
Leggoons is not at least $3.00  per share for any twenty consecutive day 
period as reported on the NASD's Electronic Bulletin Board or NASDAQ's 
Small Cap Market from the date of the agreement through February 10, 1998.

The License Agreement also provides that in the event that the bid price for 
the common stock of Leggoons is more than $3.00 per share for any twenty 
consecutive day period, then HPOS shall have the option to purchase up to 
13,822,000 additional shares of the Leggoon's common stock at an exercise 
price of $.30 per share.

Thomas S. Hughes, Chairman of HPOS, became Chairman and President of Leggoons
on March 1.  He will focus on procedures, policies and state approvals to 
begin home lottery, off track betting, casino and sports ATM card and SMART 
card wagering.  In March 1997 Rick Howe assumed the position of Chief 
Executive Officer and Chief Operations Officer.  Mr. Howe has over 30 years 
of successful experience at all levels of casino management, most recently 
as Vice President and Casino Manager at the Four Queens Hotel in Las Vegas, 
Nevada.  As CEO/COO, Mr. Howe will assemble a team of professionals to 
develop the procedures and policies of home ATM card and SMART card wagering.
This development process will include a close focus on the political and the 
instant taxation of home winnings issues associated with home ATM card and 
SMART card wagering.

Thomas S. Hughes, Chairman of Home Point Sale, Inc., will remain as Chairman 
and President of Leggoons, Inc.  The Company intends to seek shareholder 
approval to change its name from Leggoons, Inc. to Betting, Inc.


                                 -8-
<PAGE>
Infinitron Investments International, Inc. Stock Acquisition Agreement
----------------------------------------------------------------------
         The Company has concluded settlement negotiations of a dispute with 
Infinitron Investments International, Inc. ("Infinitron"), who, under a Stock
Acquisition Agreement, had previously agreed to acquire the Company.  
Generally, under the terms of the settlement, the Company is to receive 
$510,000 in cash over a period of six months from Infinitron, along with 
186,721 shares of Infinitron common stock, which represents approximately 
3% of Infinitron's outstanding shares of common stock on August 5, 1996.  
The 186,721 shares of common stock of Infinitron will be held for the benefit
of the Company's stockholders as their "loss of the bargain" under the 
proposed merger.  The $510,000 of cash proceeds will be distributed in 
accordance with the Assignment for Benefit of Creditors.

     As of September 16, 1997, no payments on the settlement agreement have 
been made by Infinitron.  The Company has informed Infinitron that unless the
originals of all documentation, including the stock certificate, and the cash
payments are provided by October 30, 1997, that they will have no alternative
but to take whatever action is recommended by legal counsel to protect the 
Company's interests and those of the Company's shareholders.
















                                  -9-
<PAGE>
                              FORM 10-QSB

                             BETTING, INC.

                      PART II - OTHER INFORMATION


Item 6.  Exhibits and Reports on Form 8-K

      (a)  Exhibits  -  None.

      (b)  Reports on Form 8-K  - None

      EX-27  Financial Data Schedule

SIGNATURE:
----------
Pursuant to the requirements of the Securities Exchange Act of 1934, the 
registrant has duly caused this report to be signed on its behalf by the 
undersigned thereunto duly authorized.

(Registrant)      BETTING, INC.


BY(Signature)                    /s/Thomas S. Hughes
(Date)                           September 25, 1997
(Name and Title)                 Thomas S. Hughes
                                 President