The rumours were all saying the company was primed for an October float but lacklustre results from recent flotations may push it back to 2011 or beyond.
A study reported by The Financial Times has shown that more than half of the big "initial public offerings" in Europe this year had shares trading below their issue price, leaving investors sitting on a loss.
Betfair to play waiting game over flotation (subscription)) (free link)
THE prospects of being able to buy shares in Betfair from as soon as next month appear to have taken a knock from the performance of other Stock Market listings in 2010.
In the absence of a commitment from Betfair on its long-mooted Stock Market flotation at a value of as much as £1.5 billion, evidence from other firms appears to show the timing may be wrong.
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Preparing for such a massive sea change in the company's ownership is not without its difficulties, but thoughts that October was the favoured month for a Betfair float may need to be reassessed in the light of the post-float experience of other businesses.
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Ocado, the online service that delivers Waitrose goods, was forced to cut its flotation price from 200p to 180p and, despite that manoeuvre, shares fell by 20 per cent in just over a month.
Of 31 businesses which floated across Europe since January and which raised more than $100m, 16 were trading under issue price last Friday. The FT also reported that the average performance of six launches backed by Goldman Sachs reported to be an adviser to Betfair - was a drop (from the issue price) of 0.7 per cent.
So it could be a while yet for all those early staff members who are still sitting on their company shares....
Monday, 6 September 2010
Sunday, 5 September 2010
and it just gets deeper for Pakistan
News of the World have printed the latest series of allegations in the Pakistan cricket corruption scandal. Pakistan have had a chequered history in cricket with rumours, allegations and the odd conviction prevalent for a few decades, and before that, it was presure on home umpires to cheat - long before the neutral umpire system came in.
So on top of last week's deliberate no-balls to show the players would perform on cue, now we have Salman Butt caught with a pile of dirty money in his room, a player annoyed at not being selected accusing most of his teammates of being corrupt and then the same player denying he said anything. The football club Mazhar Majeed confessed to using a money-laundering toy is now falling apart. And it all came from a tip-off....
It's time cricket authorities, and not just the ICC, had the balls to stand up to Pakistan and tell them to piss off to the B leagues, playing the likes of Zimbabwe. If the ICC don't kick them out, then countries too soft to refuse should schedule their matches at the lowest-budget venues around. Nobody will pay money to watch them and not should they.
They have ruined the sport of cricket, and there now is too much mud being thrown for it all to be made up. The Pakistan High Commissioner has played the race card, claiming it's part of a global conspiracy against Pakistan. Nope, it's a conspiracy against people who bloody cheat and ruin a gentleman's sport enjoyed around the world. I hate racism and all it stands for, but equally I despise people who feel compelled to play the race card because they are incompetent or cannot admit the truth.
Just a tenth of the accusations being true is enough to expel them from international cricket. It goes far, far too deep to just be down to a couple of bad eggs.
Don't let your arse hit the door on the way out....
So on top of last week's deliberate no-balls to show the players would perform on cue, now we have Salman Butt caught with a pile of dirty money in his room, a player annoyed at not being selected accusing most of his teammates of being corrupt and then the same player denying he said anything. The football club Mazhar Majeed confessed to using a money-laundering toy is now falling apart. And it all came from a tip-off....
It's time cricket authorities, and not just the ICC, had the balls to stand up to Pakistan and tell them to piss off to the B leagues, playing the likes of Zimbabwe. If the ICC don't kick them out, then countries too soft to refuse should schedule their matches at the lowest-budget venues around. Nobody will pay money to watch them and not should they.
They have ruined the sport of cricket, and there now is too much mud being thrown for it all to be made up. The Pakistan High Commissioner has played the race card, claiming it's part of a global conspiracy against Pakistan. Nope, it's a conspiracy against people who bloody cheat and ruin a gentleman's sport enjoyed around the world. I hate racism and all it stands for, but equally I despise people who feel compelled to play the race card because they are incompetent or cannot admit the truth.
Just a tenth of the accusations being true is enough to expel them from international cricket. It goes far, far too deep to just be down to a couple of bad eggs.
Don't let your arse hit the door on the way out....
Wednesday, 1 September 2010
betting scandals galore
It hasn't been a great week for the betting industry and sporting integrity. On top of the Pakistan cricket spot-fixing scandal and today's Hereford racing farce, there have been a couple of other sports raising eyebrows.
At the US Open last night, Alexandr Dolgopolov was a huge late drifter from 3.5 out to 7 (losing 0-3 backed into 1.1) and consequently lost in straight sets to David Ferrer, a player he was very competitive against just a few weeks ago. After the match, his poor performance was put down to feeling unwell. Perhaps that's all it was, but it seems as if every man and his dog knew about it and bet accordingly. This kid has far too much talent to waste, but it's not the first match with suspicious betting patterns he has been involved in.
The big story in Australian sport has been in the NRL. Rugby league in Australia has had a few suspicious betting stories over the years, now it sounds like the authorities have finally got their act together and might do something about it. Last year, there were strong allegations that the Sydney Roosters threw the last game of the season (as slight outsiders in the match originally, the win by 13+ margin for their opponents was backed off the map and duly saluted), and in previous years there have been cases of First Tryscorer being backed off the map, particularly in Manly games. People don't bet seriously in the First Tryscorer or First Scoring Play markets unless something is fishy.
This incident was a couple of weeks ago, a match between North Queensland and Canterbury, late in the season, with neither side still able to reach the finals series. In rugby league, penalty goals are unlikely to open the scoring unless it's wet. Tries are the most common way of scoring, unlike rugby union, when a kick is quite regularly the first scoring play. These betting markets usuallly attract only a handful of bets, and nothing of serious note. However, when lumpy bets started coming in on Nth Qld penalty goal at 8.0 with bookmakers around Australia, bookies all smelt a rat. After the first few bets, particularly from punters betting 10x their normal bet size, or from punters who have prior history of being involved in games of questionable integrity, bookies pulled the market down.
Interestingly, North Queensland had the option of getting off the mark by scoring with a penalty goal, but elected to go for a try instead. My guess is they'd been tipped off that people were watching very closely. They certainly are now...
Top cops tackle betting scandal
Player agent is part of NRL bet probe
Last year it took the Victorian Government's Gambling and Corruption body to get involved to force the NRL to investigate. This year it seems they have gotten the hint, but whether anything comes of it in the form of harsh penalties is another matter.
At the US Open last night, Alexandr Dolgopolov was a huge late drifter from 3.5 out to 7 (losing 0-3 backed into 1.1) and consequently lost in straight sets to David Ferrer, a player he was very competitive against just a few weeks ago. After the match, his poor performance was put down to feeling unwell. Perhaps that's all it was, but it seems as if every man and his dog knew about it and bet accordingly. This kid has far too much talent to waste, but it's not the first match with suspicious betting patterns he has been involved in.
The big story in Australian sport has been in the NRL. Rugby league in Australia has had a few suspicious betting stories over the years, now it sounds like the authorities have finally got their act together and might do something about it. Last year, there were strong allegations that the Sydney Roosters threw the last game of the season (as slight outsiders in the match originally, the win by 13+ margin for their opponents was backed off the map and duly saluted), and in previous years there have been cases of First Tryscorer being backed off the map, particularly in Manly games. People don't bet seriously in the First Tryscorer or First Scoring Play markets unless something is fishy.
This incident was a couple of weeks ago, a match between North Queensland and Canterbury, late in the season, with neither side still able to reach the finals series. In rugby league, penalty goals are unlikely to open the scoring unless it's wet. Tries are the most common way of scoring, unlike rugby union, when a kick is quite regularly the first scoring play. These betting markets usuallly attract only a handful of bets, and nothing of serious note. However, when lumpy bets started coming in on Nth Qld penalty goal at 8.0 with bookmakers around Australia, bookies all smelt a rat. After the first few bets, particularly from punters betting 10x their normal bet size, or from punters who have prior history of being involved in games of questionable integrity, bookies pulled the market down.
Interestingly, North Queensland had the option of getting off the mark by scoring with a penalty goal, but elected to go for a try instead. My guess is they'd been tipped off that people were watching very closely. They certainly are now...
Top cops tackle betting scandal
Player agent is part of NRL bet probe
Last year it took the Victorian Government's Gambling and Corruption body to get involved to force the NRL to investigate. This year it seems they have gotten the hint, but whether anything comes of it in the form of harsh penalties is another matter.
English racing a mockery again
Am I Blue, the 33/1 outsider in the morning Racing Post forecast, with a formline of 7-0-0, wins by about 20 lengths (19 officially) in the 3.10 at Hereford after a huge, sustained gamble.
Dean Coleman, a 5lb claimer, is named to ride the horse, the money goes on (started 5/1 second favourite) and lo and behold, the jockey is replaced, and on goes leading jumps jockey Richard Johnson.
Trainer lying through her teeth after the race to say 'we haven't backed it'. Yeah sure. OK, perhaps she didn't, but it was certainly set up for a sting. Lives next to Tim Vaughan, pure coincidence that the Vaughan stable jockey goes on and it bolts in.
1 - surely an investigation is required after a horse looks completely useless in its previous three starts, and then wins by panels.
2 - it's ridiculous that a leading senior jockey is allowed to take over from a conditional jockey. Ireland and Australia have a 'like-for-like' rule - i.e. a senior jockey can only replace a senior jockey, and preferably one of similar ability/standings.
Matt Chapman on ATR after the race mixing between slamming racing for allowing to happen, and being sarcastic about the trainer's answers.
How can racing in the UK grow and thrive when crap like this is allowed to happen? Very poor for the image of the sport - when punters can not have confidence that form is genuine, then they won't bet. And when they don't bet, there's not much money going to the BHA for levy payments....
Dean Coleman, a 5lb claimer, is named to ride the horse, the money goes on (started 5/1 second favourite) and lo and behold, the jockey is replaced, and on goes leading jumps jockey Richard Johnson.
Trainer lying through her teeth after the race to say 'we haven't backed it'. Yeah sure. OK, perhaps she didn't, but it was certainly set up for a sting. Lives next to Tim Vaughan, pure coincidence that the Vaughan stable jockey goes on and it bolts in.
1 - surely an investigation is required after a horse looks completely useless in its previous three starts, and then wins by panels.
2 - it's ridiculous that a leading senior jockey is allowed to take over from a conditional jockey. Ireland and Australia have a 'like-for-like' rule - i.e. a senior jockey can only replace a senior jockey, and preferably one of similar ability/standings.
Matt Chapman on ATR after the race mixing between slamming racing for allowing to happen, and being sarcastic about the trainer's answers.
How can racing in the UK grow and thrive when crap like this is allowed to happen? Very poor for the image of the sport - when punters can not have confidence that form is genuine, then they won't bet. And when they don't bet, there's not much money going to the BHA for levy payments....
US Open tennis previews
Sorry, this is a few days late, but to be honest, not a great deal has changed in the draws. As always, you'll find my Grand Slam tennis previews published at PuntingAce - click here to read them.
Sunday, 29 August 2010
and Pakistan had been warned about dodgy connections..
More and more evidence is coming to light in the wake of the NotW scandal. GamblerFalls' blog points out that Shahid Afridi warned team management of the characters involved getting too close to the team. And naturally, what did team management do? Put their heads in the sand and ignore it....
The evidence is pretty damning now. I'd be really pissed off if I was boss of a ground about to host a T20 or an ODI in the next couple of weeks. Ticket sales are going to be screwed unless they are already sold. All that effort going into securing an international match, hoping for it to fill the coffers and keep the business ticking over - all gone now.
The evidence is pretty damning now. I'd be really pissed off if I was boss of a ground about to host a T20 or an ODI in the next couple of weeks. Ticket sales are going to be screwed unless they are already sold. All that effort going into securing an international match, hoping for it to fill the coffers and keep the business ticking over - all gone now.
so what now for cricket?
If the Pakistan spot-fixing allegations prove to be true, then there should be massive implications for the game worldwide. Players will no doubt argue it was supposed to be innocent and not affecting the result of the match, which as alluded to here is complete rubbish. The ICC have a full-txime anti-corruption unit who take particular interest in matches involving India or Pakistan, simply because of their closeness to the underground betting markets. Part of the programme is lecturing every player about the dangers of gambling and being involved with shady parties - not just match-fixing but any form of betting on a match, including spot-fixing.
The spot-fixing events in the Lord's Test are alleged to have been a precursor to bigger fixes, most likely a thrown game in the ODIs. The no-balls were used to show the 'fixer' had the players in his pocket and they were able to be bought.
This is where it will get political, as can only happen with the ICC. The traditional nations will scream outrage and want the players banned for life. The Asian nations will work together and only want to hand down pitifully meagre penalties, so as not to lose power (i.e. votes) at the board table.
If as alleged, the captain Salman Butt is involved, there is a genuine case for kicking Pakistan out of international cricket. I believe that would make it three Pakistan captains caught for their involvement in illegal gambling, and that's not including the many others who have been accused, with or without any more evidence than hearsay. For a brand new captain to be involved in it shows the whole system is corrupt.
Pakistan haven't done themselves any favours in this whole saga. Their national cricket administration system is a farce, the world has been prepared to give them some leniency as they play without a home ground as a result of terrorist attacks, and even more so with the recent floods affecting an area bigger than England. But any sympathy they have been shown will now disappear faster than a politician's pre-election pledge...
One question as more evidence comes to light and people are being arrested for their involvement. How can Scotland Yard charge someone with 'conspiracy to defraud bookmakers' when none of the bets affected (so far) have involved legal bookmakers, only black market ones in India? Surely there is no legal protection for illegal entities?
The spot-fixing events in the Lord's Test are alleged to have been a precursor to bigger fixes, most likely a thrown game in the ODIs. The no-balls were used to show the 'fixer' had the players in his pocket and they were able to be bought.
This is where it will get political, as can only happen with the ICC. The traditional nations will scream outrage and want the players banned for life. The Asian nations will work together and only want to hand down pitifully meagre penalties, so as not to lose power (i.e. votes) at the board table.
If as alleged, the captain Salman Butt is involved, there is a genuine case for kicking Pakistan out of international cricket. I believe that would make it three Pakistan captains caught for their involvement in illegal gambling, and that's not including the many others who have been accused, with or without any more evidence than hearsay. For a brand new captain to be involved in it shows the whole system is corrupt.
Pakistan haven't done themselves any favours in this whole saga. Their national cricket administration system is a farce, the world has been prepared to give them some leniency as they play without a home ground as a result of terrorist attacks, and even more so with the recent floods affecting an area bigger than England. But any sympathy they have been shown will now disappear faster than a politician's pre-election pledge...
One question as more evidence comes to light and people are being arrested for their involvement. How can Scotland Yard charge someone with 'conspiracy to defraud bookmakers' when none of the bets affected (so far) have involved legal bookmakers, only black market ones in India? Surely there is no legal protection for illegal entities?
Saturday, 28 August 2010
Pakistan cricket betting scandal - genuine or faked?
News breaking tonight of another betting scandal involving the Pakistan cricket team and the News of the World, an English tabloid newspaper. A middle-man is alleged to have arranged no-balls at specific times in the England first innings in the current Test match at Lord's, in return for substantial amounts of money. The no-balls in question bowled by Mohammed Amir were not even close, at least a foot over, which is curious, the one for Mohammed Asif wasn't so blatant.
But is it as clear-cut as it seems? For me, it sounds too perfect. Pakistan are easy targets - they don't have a great reputation for integrity, and linking it to illegal bookmakers on the sub-continent is the perfect modus operandi as they have no licence or audit trail. People say that millions get bet on this stuff, despite all sorts of previous allegations about these markets, but there's nowhere to prove it is true or not. Was the evidence shown to anyone before the event, or did it only emerge conveniently after it?
I just find it very hard to trust anything that comes out of the News of the World, and destroying the reputation of one outstanding young bowler to increase flagging newspaper sales I do not find beyond them. Their modus operandi of catching dodgy characters (Sven-Goran Eriksson, John Higgins etc) isn't exactly a secret.
There may be more evidence to show for it and back the allegations up. How bad were the other no-balls from Amir and Asif? Is there any proof that this meeting with the fixer was actually before the events in question took place? There doesn't seem to be any footage of the players involved in this, unlike the Higgins snooker case.
IF the story is genuine, then fair play to the NotW for flushing it out.... I just think it's a bit too well put together...
Match-fixer pockets £150k as he rigs England Test at Lord's
THE News of the World has smashed a multi-million pound cricket match-fixing ring which RIGGED the current Lord's Test between England and Pakistan.
In the most sensational sporting scandal ever, bowlers Mohammad Amir and Mohammad Asif delivered THREE blatant no-balls to order.
Their London-based fixer Mazhar Majeed, who let us in on the betting scam for £150,000, crowed "this is no coincidence" before the bent duo made duff deliveries at PRECISELY the moments promised to our reporter.
But is it as clear-cut as it seems? For me, it sounds too perfect. Pakistan are easy targets - they don't have a great reputation for integrity, and linking it to illegal bookmakers on the sub-continent is the perfect modus operandi as they have no licence or audit trail. People say that millions get bet on this stuff, despite all sorts of previous allegations about these markets, but there's nowhere to prove it is true or not. Was the evidence shown to anyone before the event, or did it only emerge conveniently after it?
I just find it very hard to trust anything that comes out of the News of the World, and destroying the reputation of one outstanding young bowler to increase flagging newspaper sales I do not find beyond them. Their modus operandi of catching dodgy characters (Sven-Goran Eriksson, John Higgins etc) isn't exactly a secret.
There may be more evidence to show for it and back the allegations up. How bad were the other no-balls from Amir and Asif? Is there any proof that this meeting with the fixer was actually before the events in question took place? There doesn't seem to be any footage of the players involved in this, unlike the Higgins snooker case.
IF the story is genuine, then fair play to the NotW for flushing it out.... I just think it's a bit too well put together...
Match-fixer pockets £150k as he rigs England Test at Lord's
THE News of the World has smashed a multi-million pound cricket match-fixing ring which RIGGED the current Lord's Test between England and Pakistan.
In the most sensational sporting scandal ever, bowlers Mohammad Amir and Mohammad Asif delivered THREE blatant no-balls to order.
Their London-based fixer Mazhar Majeed, who let us in on the betting scam for £150,000, crowed "this is no coincidence" before the bent duo made duff deliveries at PRECISELY the moments promised to our reporter.
Friday, 27 August 2010
Golf bookies on alert as Ryder Cup wildcard announcements become imminent
A lot of this is bookies boosting their own PR but obviously there is some substance behind it. Any time someone knows the answer before the official announcements are made (Academy Awards, Big Brother etc), then there is always a risk of insider trading.
Montgomerie 'on guard' to ensure no Ryder Cup betting coup
Gambling fears prompts Europe captain to be wary of telling wildcard contenders decision ahead of announcement.
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Montgomerie 'on guard' to ensure no Ryder Cup betting coup
Gambling fears prompts Europe captain to be wary of telling wildcard contenders decision ahead of announcement.
As if Colin Montgomerie hasn't enough to think about in this run-up to making his three picks, the Ryder Cup captain must also be wary of a betting scam staged by "unscrupulous insiders". A source inside the European Tour yesterday revealed the Scot will be "on his guard" to ensure his selections do not leak out before his team announcement here on Sunday night.
Montgomerie has said he plans to speak to all the wild-card contenders before the official unveiling, meaning many would inevitably learn of his decision while bookmakers are still taking bets on who will get the nod. Whether he will now alter this plan after hearing the concerns of the Tournament Players' Committee is unclear. But many betting firms are not prepared to take the chance.
"We don't want to leave ourselves in a position whereby we can have our pants pulled down by potentially unscrupulous insiders chasing a quick buck," said a Ladbrokes spokesman yesterday.
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Even the bookmakers who will take bets in the hour between the conclusion of the final qualifying tournament and Montgomerie's announcement will have their finger hovering above the "suspend" button. "We do discuss the risks about insider trading on these type of markets and our traders will watch it very closely," said a Paddy Power spokesman. "If there is any activity that suggests insider knowledge we will close or suspend the market immediately."
It is a similar story at the spread- betting specialists, Sporting Index, who will also be keeping a close eye on who is wagering what. "We will be trading up right until the announcement, but trading conservatively," said their spokesman. "We would be able to tell by the profile of a client's account if anything unusual might be taking place. If, for instance, a client who usually has a smallish average stake size suddenly requests a bet far bigger than usual on the market in question, alarm bells would ring and we would limit that trade."
Thursday, 26 August 2010
South Africa steps back in time with online casino ban
In a move which blatantly only serves to protect the incumbent land-based operators rather than act as social policy, the Gauteng Gambling Board has banned all online gambling (defined as casino operations) throughout South Africa.
Note the name of the spokeperson quoted below....
Online gambling banned in South Africa
It is now illegal to gamble using digital products in South Africa, the Gauteng Gambling Board said after a Friday court ruling.
The judgement on the jurisdiction of online gambling transactions in the country was handed down by the North Gauteng High Court on August 20.
This means that online gambling operators in South Africa and players will be in contravention of the law, and according to Business Day, could face a fine of R10-million or 10 years in jail, or both.
According to the Gauteng Gambling Board's head of legal services, Lucky Lukhwareni, online casinos are now liable for prosecution.
How could anyone take a person named Lucky seriously, especially if they worked in gambling regulation??
Other reports (EGR) have stated that the ban refers to all forms of online gambling, but that would be even more ridiculous considering the sports betting licences they have awarded lately. Bans for online casinos had been rumoured earlier in the year so this comes as no great surprise.
Does it protect local residents? Not at all, it's not exactly difficult to find an online casino wherever you are in the world, although transferring South African rand outside of the country is often complicated.
Note the name of the spokeperson quoted below....
Online gambling banned in South Africa
It is now illegal to gamble using digital products in South Africa, the Gauteng Gambling Board said after a Friday court ruling.
The judgement on the jurisdiction of online gambling transactions in the country was handed down by the North Gauteng High Court on August 20.
This means that online gambling operators in South Africa and players will be in contravention of the law, and according to Business Day, could face a fine of R10-million or 10 years in jail, or both.
According to the Gauteng Gambling Board's head of legal services, Lucky Lukhwareni, online casinos are now liable for prosecution.
How could anyone take a person named Lucky seriously, especially if they worked in gambling regulation??
Other reports (EGR) have stated that the ban refers to all forms of online gambling, but that would be even more ridiculous considering the sports betting licences they have awarded lately. Bans for online casinos had been rumoured earlier in the year so this comes as no great surprise.
Does it protect local residents? Not at all, it's not exactly difficult to find an online casino wherever you are in the world, although transferring South African rand outside of the country is often complicated.
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