industry news round-up

Betfair's share price is up 35p this morning, including a recovery from a 20p drop after a climb of 40p in the first two hours of trading, after it fell to a new low of 752p last week. Here's one for you - how would you price up "First to leave their post - David Yu or Sepp Blatter?"

The Czech lottery company Sazka has been declared bankrupt by the Prague Municipal Court. Surely there is something seriously wrong here - perhaps they should have spoken to FIFA about to keep a corrupt organisation in operation??

Centrebet shareholders are expected to support the Sportingbet buyout bid afte the Kafataris family and the board put their weight behind it.

Spain’s new gaming law has been officially published in the country’s State Gazette and will be enforced subject to European Commission approval.

In case you've missed it, the US Department of Justice is going after more than just the biggest US-facing poker rooms, with some sportsbooks in its sights as well..

The Tote sale in the UK is dragging on and it looks like racing will get a fairly average deal whichever way they go. The BHA have declared their hand towards a bid which allegedly supports racing, but will give it far less cash, but promises plenty of equity. Hmm, don't these guys watch those BBC reports on shonky real estate deals in Mediterranean beachfront estate?

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

Spot-fixing - you will never, ever be able to stop it

According to this report , IPL tournaments so far have been rife with spot-fixing - that is fixing minor elements of the game - runs in a single over, number of wides bowled etc. The curious part of that article is that the Income Tax department are supposed to have found these crimes. What idiot would be stupid enough to put down 'big wad of cash handed to me by bookie' as a source of income? Backhanders for sportsmen, particularly in a celebrity- and cricket-obsessed culture like India are not rare. They could come from anything like turning up to open someone's new business (not a sponsor, but a 'friend of a friend' arrangement), to being a guest at some devoted fan's dinner party etc. The opportunities are always there, and there will always be people trying to become friends with players and their entourage - that is human nature. This form of match-fixing (and it's not really fixing a match, just a minor element of it) is very hard to prove, but also,

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...

Sport is made for betting

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