Italian police celebrate busting an illegal syndicate

No surprises here. A Mafia boss sent to jail went back to his old ways when he got out. Nothing too newsworthy there, but the facts of article leave a bit to be desired...

Italian police broke up major mafia clan

Italian police have broken up a major mafia clan, issuing 83 arrest warrants and seizing businesses, land, race horses and a London-based online betting company, officials said Tuesday.

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The assets seized included the sporting goods empire "Sport&More" as well as the London-based Paradise Bet, described by police as one of the most important British online betting sites.

It would be a mighty long list if Paradise Bet were to ever have featured on a list of important British betting sites, and ignoring that rather large extension of the truth, the company hasn't existed for several years!

ParadiseBet ceased operations in 2006 and became the much-disliked Bet1128.

If they were referring to 1128, who are believed to be Italian-owned, they are a Maltese minnow anyway. But never let the facts get in the way of a good story.

UPDATE 23/12:

The UK Gambling Commission has suspended the licence of Paradise Bet, but Bet1128.com appears to still be running.. so not sure who it actually applies to??

Comments

It's all gone Pete Tong at Betfair!

The Christmas Hurdle from Leopardstown, a good Grade 2 race during the holiday period. But now it will go into history as the race which brought Betfair down. Over £21m at odds of 29 available on Voler La Vedette in-running - that's a potential liability of over £500m. You might think that's a bit suspicious, something's fishy, especially with the horse starting at a Betfair SP of 2.96. Well, this wasn't a horse being stopped by a jockey either - the bloody horse won! Look at what was matched at 29. Split that in half and multiply by 28 for the actual liability for the layer(s). (Matched amounts always shown as double the backers' stake, never counts the layers' risk). There's no way a Betfair client would have £600m+ in their account. Maybe £20 or even £50m from the massive syndicates who regard(ed) Betfair as safer than any bank, but not £600m. So the error has to be something technical. However, rumour has it, a helpdesk reply (not gospel, natur

lay the field - my favourite racing strategy

Dabbling with laying the field in-running at various prices today, not just one price, but several in the same race. Got several matched in the previous race at Brighton, then this race came along at Nottingham. Such a long straight at Nottingham makes punters often over-react and think the finish line is closer than it actually is. As you can see by the number of bets matched, there was plenty of volatility in this in-play market. It's rare you'll get a complete wipe-out with one horse getting matched at all levels, but it can happen, so don't give yourself too much risk...

The Melbourne Cup preview 2022

A competitive edition of the Melbourne Cup without being a great one. The La Nina weather cycle has made a mess of sporting events down the east coast in recent weeks and Flemington has not escaped that. It did race very well on Saturday considering the conditions, so fingers crossed that continues. At this stage it seems like the track will be Soft 7/Heavy 8 - rain is forecast, hopefully not enough for the track to deteriorate but also not warm or windy enough for proper drying weather as you'd normally see on the sand profile track. There are only two international visitors in the field, Deauville Legend and Without A Fight, while another pair, Camorra and Hoo Ya Mal, will make their local debuts having been purchased for Australian syndicates. So the local moaners get their 'mostly locals' race. I think I'd prefer higher class myself but hey... Slightly different format this year, enjoy reading, bet responsibly, yada yada yada... ------------------------------------

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