Tuesday, June 7 2011 : BETFRED IN COMPLEX GBP823 000 RACING ROW
Sports betting operator refuses to pay out on Curley coup bets
The Betfred online and land gambling company is involved in a major row over a horse race which has dragged in the Gibraltar regulatory authority and the British Horse Racing Association.
Betfred, which is based in Gibraltar and is currently acquiring The Tote, has refused to pay out GBP823 000 on bets placed by the Curley family in a GBP4 million coup at Newmarket last May, according to reports in the Racing Post.
The BHA is supporting the Curleys in their claim, whilst the Gibraltar Regulatory Authority has conducted an investigation and on May 27 accused Curley of deception, the five involved account holders of fraud, and the BHA of misapplying its own rules.
Betfred has invoked its terms and conditions rule 10, which states: “Any person or group of persons acting in an attempt to defraud Betfred.com will have their bets voided.”
The dispute has now been handed over to lawyers, with legal representatives of the Curleys applying to the Supreme Court of Gibraltar for a judicial review of the GRA decision.
Andrew Montague, a Northern Ireland-based solicitor acting for the claimants, told the Racing Post this week: “The investigation by the GRA is flawed and has been conducted from the outset in a biased way and has chosen to ignore the findings of both the BHA and IBAS [Independent Betting Adjudication Service].”