Betfair new CEO expected to be announced on Monday

Sky News broke the story on Saturday night that Paddy Power Chief Operating Officer Breon Corcoran will replace David Yu as Betfair CEO. The outgoing CEO David Yu announced earlier in the year that he wouldn't be seeking an extension of his contract from October 2012, and would even be prepared to leave earlier should a replacement be found. The official announcement to the stock exchange is expected on Monday morning, it will be interesting to see how it responds. When you compare the rapid growth of Paddy Power in recent years, and the dismal share price of Betfair since the float, you would think the market will react positively. All I know is, the new guy will have a lot of work to do to restore the confidence of the punters that got them to where they are today, and the financial market...

Betfair poaches Paddy Power exec for CEO - report

Nov 6 (Reuters) - Online betting group Betfair will announce the appointment of Paddy Power's Breon Corcoran as its new chief executive this week according to media reports.

Corcoran, who is chief operating officer at the Irish bookmaker, will succeed David Yu and end Betfair's five-month search for a replacement.

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...

Wimbledon preview - women

Unfortunately this year I don't have the time to write comprehensive Slam previews anymore so I'll sum this one up pretty quickly - it's all about Serena. 1 - Serena Williams. In incredible form. Since bombing out in R1 of the French Open last year, she has lost just three times - to Kerber (Cincinnati QF), to Stephens (Aus Open QF) and to Azarenka (Doha final). She has won three of the last four Wimbledon finals plus the Olympic gold last year where she dropped just 17 games in six rounds, against opponents which included four former world #1s. All that considered though, I can't have her at 1/2 (1.50) on Betfair. She just has to be opposed. I can't put a finger on who is going to beat her, but I have to side with her prospective opponents. If you want a smokey to put some small change on, try Maria Kirilenko. Her record in the Slam isn't so great but it has been improving - a best result of R4 last year beaten by finalist Radwanska 7-5 in the third, and

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