SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT


                           Pursuant to Section 13 or 15(d) of
                           the Securities Exchange Act of 1934




Date of Report:  August 2, 2000


                          iEntertainment Network, Inc.
               (Exact name of registrant as specified in charter)


                                 NORTH CAROLINA
                 (State of other jurisdiction of incorporation)




         0-29750                                          56-2092059
- ---------------------------                    ---------------------------------
(Commission File Number)                       (IRS Employer Identification No.)


215 Southport Drive, Suite 1000, Morrisville, NC                        27560
- --------------------------------------------------------------------------------
(Address of principal executive offices)                              (Zip Code)


Registrant's telephone no. including area code:  (919) 461-0722


ITEM 5.  OTHER EVENTS

Private Placement:

GENERAL DESCRIPTION.  On June 30, 2000,  iEntertainment  Network,  Inc., a North
Carolina  corporation (the "Company"),  entered into a stock purchase  agreement
("Stock Purchase  Agreement") pursuant to which it sold 600,000 of shares of its
Common  Stock,  par value  $.10 per share  (the  "Common  Stock"),  to  Vertical
Financial Holdings (the "Investor"), for an aggregate purchase price of $600,000
and agreed to sell to the Investor at a second  closing an additional  1,900,000



shares of Common Stock for an aggregate  purchase  price of $1,900,000  upon the
achievement by the Company of certain milestones.

The Company will use the proceeds  from the sale of the Common Stock for general
corporate purposes.

In  connection  with the private  placement,  the Company  also  entered into an
Investor's  Rights  Agreement with the Investor  wherein the Company granted the
Investor demand and piggyback registration rights.

ITEM 7.  FINANCIAL STATEMENTS AND EXHIBITS.

(c) Investor's  Rights  Agreement  dated as of June 30, 2000 between the Company
and Vertical Financial Holdings is filed herewith as Exhibit 10.1.




                                    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 hereunto duly authorized.


                                  iENTERTAINMENT NETWORK, INC.


Date: August 3, 2000               /s/Robert Hart
                                  ----------------------------------------------
                                  Robert Hart
                                  Chief Financial Officer


                                       2



                                    EXHIBITS
                                    --------

Exhibit          Description
- -------          -----------


10.1             Investor's Rights Agreement, dated as of June 30, 2000, between
                 the Company and Vertical Financial Holdings.