European Bookmakers Lose Millions on Horses Linked to Barney Curley

European Bookmakers Lose Millions on Horses Linked to Barney Curley

Iconic gambler Barney Curley has done it once more when a 9000- 1 shot on four horses came through (Image: The Guardian)

There is absolutely nothing quite like the feeling of striking a double that is daily pick six or other big accumulator at the race track, especially when that final horse comes in to complete your once-in-a-lifetime payday. But while there were some epic wins over the course of horse racing history, few compare towards the story that played out this week in the UK as four horses associated with legendary gambler Barney Curley pulled down shocking victories that may have cost bookmakers millions.

Long Odds on Four Horses

The story started on Tuesday evening, as odds began showing up for some of Wednesday’s races. There have been four horses in all, each coming off a layoff that is long race at fairly long odds. Horses Eye regarding the Tiger and Indus Valley had been both longshots that are 20-1 while Seven Summits and Low Key were more fairly priced at 7-1. in just about any case, a $1 accumulator bet on all four horses to win would have earned a bettor around $13,000 at Bet365, in the event that bets came in at just the right time when all four races were on the board while the chances were as favorable as feasible.

Estimates of precisely how money that is much lost by bookmakers from the four not likely champions varied significantly. One spokesman for Paddy Power said that the hit that is industry-wide have now been since great as £15 million ($24.9 million), though others stated an even more likely figure was in the range of £2 million ($3.3 million).

Some bookmakers, such as Ladbrokes, avoided the largest losings by only posting odds later in your day, though many bettors acquired in the connected horses even as the odds started to fall.

‘We dodged all the morning hours madness, but you can’t stop moving trains and we got caught up in a few of it since the day panned out,’ said Ladbrokes head of consumer PR David Williams. ‘Our choice to not price the Kempton events up until as late as feasible helped protect us from the worst from it and now we undoubtedly weren’t exposed to any of the over night business where all of the fancy prices were snapped up.’

Unlikely Winner

Bookmakers started initially to become suspicious as the odds on all four horses fell in morning betting. By enough time Eye of the Tiger ran at Lingfield, the horse had been bet all the way right down to a straight money favorite despite the proven fact that he had not run for 481 times, and had failed to win in any of their previous four races.

Sure enough, Eye of the Tiger won his race. When stewards at the track established an inquiry into the winner, they certainly were told that the horse was now being trained by Dan Donovan, and had formerly been trained by Curley himself. The horse had evidently been injured times that are several but came to the race healthier, with Donovan calling him ‘a genuine horse.’

Soon thereafter, Seven Summits would win his race at Catterick by a length . 5. At battle time, he had been bet down to a 9-4 favorite, though that has been partially because another favorite was indeed scratched from the race. Seven Summits was also formerly trained by Curley.

The horse that is third Indus Valley, was another Donovan-trained runner who had been racing for the very first time in almost two years. A 4-6 favorite by the race, Indus Valley pulled off a tough win.

‘He has always shown ability but we were lucky the 2nd just turned it in,’ Donovan stated.

Finally, Low Key was set to race at Kempton, and had moved from a 7-1 shot to a 7-4 favorite. Although his last battle saw him finish 7th of seven horses, Low Key pulled off a win, with trainer John Butler attributing it to the horse being gelded and a drop that is significant class when compared to past events.

Barney Curley has been a legendary trainer and gambler for decades, though he has largely stayed out of the eye that is public. Curley who says he wins has been finding ways to beat bookies since at least the 1970s that he gets more of a thrill out of beating the bookmakers than from the money. A similar four-horse success in 2010 netted Curley more than £1 million ($1.66 million).

Billionaire Asian Moguls Duke It Out for Bloomberg Richest Rating

Still #2: Chinese billionaire Lui Che-Woo thought he was ranked first, but Bloomberg took it right back (Image: Forbes)

In a world of uber-wealth with lots of the wealthiest on the planet now from parts of asia it takes some severe cash to be the richest associated with the rich; kind of like being crowned Miss Universe from out of a bevy of stellar beauties. And just like Miss Universe, sometimes the votes get tallied incorrect along with to give back the crown.

That seems to be what’s happened with Lui Che-Woo, founder of casino operator Galaxy Entertainment Group indian dreaming slot machine free play Ltd., who briefly held the name before several news sources corrected it and maintained that past title holder and real property investor Li Ka-Shing continues to be Asia’s richest man.

Lui’s net worth jumped up by $2.9 billion this to $23.7 billion; but wealth protagonist Li still beats him out with a $29.5 billion fortune year. And that means Li retains the title he’s held since April 9, 2012, when he moved past previous richest, Indian billionaire Mukesh Ambani.

As a daily ranking of the wealthiest people into the world, the Bloomberg Billionaire Index bases its statistics and dimensions on changes within markets, the economy and reporting to update the figures at the conclusion of each business day in New York, utilizing the closing share price to calculate positions in the index and taking inherent family wealth under consideration as well.

The principal way to obtain wealth for the billionaire mogul comes from his 51 percent stake in Galaxy Entertainment Group Ltd., which ranks third in proportions for Asia’s casino operators and saw a 129 percent rise in shares year that is last riding on the waves for the 18.6 percent rise in revenues for Macau, which reached a total of $45.2 billion.

Lui’s biggest casino Galaxy Macau has raked in on the success of the only area in China where casinos have actually been legalized. Galaxy Macau is situated in the heavily visited location that is gaming of, known popularly as Asia’s version for the Las Vegas Strip.

Global Heavy Hitters

Aside from Bill Gates arguably the richest man on earth, whose net worth rose by $15.5 billion this past year Lui’s gains of $14.2 billion was just beaten by casino rival and Las Vegas Sands Corp. Chairman Sheldon Adelson, whom saw a growth in net worth of $14.4 billion over the past year, in line with the Bloomberg position.

According to Macau-based analyst at Union Gaming Group, Grant Govertsen, the Lui family’s early investment in Cotai is mainly to thank because of their current degree of success.

‘ The boom there ramped up the share price appreciation and wide range creation for the Lui family members,’ explained the analyst. ‘They’re most readily useful positioned for long-lasting development and they are focused on becoming the player that is dominant Macau.’

Although the 2,200-room Galaxy Macau was the casino that is largest for the company because the doorways opened in 2011, Galaxy Entertainment Group Ltd. also owns and operates an additional five of Macau’s 35 gambling enterprises. All told, Macau reportedly generates around 97 percent regarding the group’s revenue, which is leading Lui and his son, deputy president Lui Yiu Tung, to a $2.6 billion addition to Galaxy set for next year in an effort to capitalise on the increasing development of the gambling destination.

Rose from Poverty

The billionaire that is self-made extremely humble beginnings, as he and his family fled the city of Jiangmen in the Guangdong province for Hong Kong when southern China was occupied by the Japanese. As a teen, he assisted to guide their household by offering food on the populous town streets, but later managed to procure construction equipment put aside following the U.S. invasion of Okinawa in Japan.

As Hong Kong ended up being going through a reconstruction growth, Lui handled to import the construction gear and make their very first fortune, which was followed by other effective opportunities including property development, hotels and gambling enterprises.

Re Payments for Undisputed Full Tilt Claims Approved by Feds

U.S. Comprehensive Tilt poker players with undisputed claims should finally be getting their claims any time now (Image:keepcalmomatic.uk)

It’s been a road that is long Americans who have cash sitting in their Full Tilt Poker reports. But almost three years following the events of Ebony Friday, it looks like the majority of those people who have asked for his or her cash back could possibly be getting their cash in the very future that is near.

According to John Pappas director that is executive of Poker Players Alliance the Department of Justice has approved more or less 30,000 claims made through the Garden City Group (GCG) for the return of funds from Full Tilt Poker accounts. That comes after the Department of Justice finished an audit of player petitions that had been processed by GCG, and represents about $82 million in funds that might be returned to American players shortly.

Only Undisputed Funds Returned For Now

Those numbers evidently represent just the Full that is undisputed Tilt claims that are outstanding. These are claims in which players and all other principals agreed upon the amount to be returned to the player. In the case of disputed claims, there is still no timeline for repayment. Nevertheless, all players with undisputed claims is emails that are receiving the GCG in the days to come that should include instructions on how best to obtain their money.

That doesn’t mean that the entire remissions process is going to go without a hitch. On the side of minor issues, Pappas said that there are some claims though not a significant number that were filed incorrectly or remain incomplete. Those individuals affected by this matter are expected to get email messages explaining how to submit the missing information to complete their claims.

A larger issue is that of what’s going to occur to affiliates and Full Tilt Poker-sponsored professional players who are nevertheless owed money. Based on Pappas that issue has yet to be settled, but both the Department of Justice and the GCG are searching into the matter.

It is still unclear exactly how long it will take for Americans to get their money straight back, though Pappas seemed optimistic that the GCG will be able to satisfy their March that is original 31 2014 due date for many claims.

‘ the claims collected by GCG,’ Pappas stated in a thread on this issue at the twoplustwo.com poker forums. ‘The onus is now on GCG to remit the funds to players. I really don’t understand their payment process and it well might be days, not days.’

36 Months Coming

The repayment of American players would end a saga that is three-year which former Comprehensive Tilt Poker clients have had their account balances sitting frozen and in a state of limbo. After the Black Friday indictments of April 15, 2011, Full Tilt Poker did not return balances that are outstanding American players (in contrast to PokerStars, that was able to return such funds almost immediately), and ultimately shut down later that year.

Later, PokerStars would buy Comprehensive Tilt Poker included in a deal with the U.S. Department of Justice in order to settle the claims against both sites. That agreement saw PokerStars simply take the responsibility on of repaying Comprehensive Tilt members from around the planet, but left the payment of Americans to the Department of Justice. According to some estimates, American-owned accounts held the maximum amount of as $184 million on Full Tilt Poker at the time of the site’s closing.

 

Leave a Reply