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 nothing quite like the feeling of hitting a double that is daily choose six or other big accumulator at the battle track, especially when that final horse comes in to complete your once-in-a-lifetime payday. But while there have been some epic wins during the period of horse history that is racing few compare to your story that played out this week in the united kingdom as four horses linked to legendary gambler Barney Curley pulled down shocking victories that could have cost bookmakers millions.

Long Odds on Four Horses

The story began on Tuesday evening, as odds began turning up for a few of Wednesday’s events. There were 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 were both 20-1 longshots, while Seven Summits and Low Key were more reasonably priced at 7-1. in virtually any situation, a $1 accumulator bet on all four horses to win would have gained a bettor around $13,000 at Bet365, in the event that wagers came in at just the best time when all four races were on the board and also the chances were as favorable as feasible.

Estimates of how much money had been lost by bookmakers from the four unlikely winners varied significantly. One spokesman for Paddy energy said that the industry-wide hit could happen as great as £15 million ($24.9 million), though others said a more likely figure was in the number of £2 million ($3.3 million).

Some bookmakers, such as Ladbrokes, avoided the largest losses by only odds that are posting in the afternoon, though many bettors found on the connected horses also since the chances started to fall.

‘We dodged all of the early morning frenzy, but you can’t stop moving trains and we got caught up in some of it once the day panned out,’ said Ladbrokes head of customer PR David Williams. ‘Our choice to not price the Kempton events up until as late as possible helped protect us through the worst from it and we undoubtedly were not subjected to any of the overnight business where a lot of the fancy prices were snapped up.’

Unlikely Winner

Bookmakers begun to become suspicious as the odds on all four horses dropped in morning betting. The horse had been bet all the way down to an even money favorite despite the fact that he had not run for 481 days, and had failed to win in any of his previous four races by the time Eye of the Tiger ran at Lingfield.

Sure enough, Eye of the Tiger won his race. Whenever stewards at the track launched an inquiry into the champion, they 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 several times, but came in to the race healthier, with Donovan calling him ‘a genuine horse.’

Soon thereafter, Seven Summits would win their competition at Catterick by a length and a half. At battle time, he had been bet down to a 9-4 favorite, though that was partially because another favorite was scratched through the race. Seven Summits was also previously trained by Curley.

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

‘He has always shown ability but we were lucky the next just switched 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 race 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 significant fall in course in comparison with 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 claims that he gets more of a thrill out of beating the bookmakers than through the money he wins has been finding how to beat bookies since at least the 1970s. The same 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 a lot of the wealthiest in the world now from parts of asia it takes some cash that is serious be the richest for the rich; type of like being crowned Miss Universe from out of a bevy of stellar beauties. And just like Miss Universe, sometimes the votes get tallied wrong 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 Ltd., who briefly held the name before several news sources corrected it and maintained that past title holder and genuine property investor Li Ka-Shing remains Asia’s richest guy.

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

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

The primary supply of 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 increase in shares year that is last riding on the waves of this 18.6 percent rise in revenues for Macau, which reached a total of $45.2 billion.

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

Worldwide Heavy Hitters

In addition to Bill Gates perhaps the richest man on earth, whoever net worth rose by $15.5 billion last year Lui’s gains of $14.2 billion was just beaten by casino rival and Las Vegas Sands Corp. Chairman Sheldon Adelson, who 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 with regards to their current level of success.

‘ The boom there ramped up the share price wealth and appreciation creation for the Lui family members,’ explained the analyst. ‘They’re best positioned for long-term growth and are indian dreaming slots online focused on becoming the player that is dominant Macau.’

Although the 2,200-room Galaxy Macau has been the casino that is largest for the business because the doorways exposed last year, Galaxy Entertainment Group Ltd. also has and operates an additional five of Macau’s 35 casinos. All told, Macau reportedly generates around 97 percent of 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 order to capitalise on the increasing development of the gambling destination.

Rose from Poverty

The self-made billionaire had extremely humble beginnings, as he and his family fled the town of Jiangmen in the Guangdong province for Hong Kong when southern Asia was occupied by the Japanese. As an adolescent, he aided to support his family members by selling food on the city streets, but later managed to procure construction equipment left behind after the U.S. invasion of Okinawa in Japan.

As Hong Kong had been going right on through a reconstruction boom, Lui managed to import the construction equipment and make his very first fortune, which was followed by other effective opportunities property that is including, accommodations and gambling enterprises.

Re Payments for Undisputed Full Tilt Claims Approved by Feds

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

It’s been a road that is long Americans who have cash sitting in their Full Tilt Poker records. But almost 36 months after the events of Black Friday, it looks like the majority of those individuals who have expected for their cash back might be getting their cash into the very near future.

According to John Pappas director that is executive of Poker Players Alliance the Department of Justice has approved roughly 30,000 claims made through the Garden City Group (GCG) for the return of funds from Full Tilt Poker reports. That comes after the Department of Justice completed 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 only the undisputed Full Tilt Poker claims which are outstanding. These are claims in which players and all other principals agreed on the amount become returned towards the player. In the full case of disputed claims, there is still no timeline for repayment. However, all players with undisputed claims must be emails that are receiving the GCG in the weeks to come that should include guidelines on the best way to obtain their money.

That doesn’t mean that the remissions that are entire is planning to go without a hitch. On the side of minor issues, Pappas said that we now have some claims though not a significant number that were filed incorrectly or remain incomplete. Those individuals affected by this dilemma are expected to receive e-mails explaining how to submit the missing information to complete their claims.

A larger issue is of what’s going to occur to affiliates and Comprehensive Tilt Poker-sponsored professional players who are still owed cash. According to Pappas that issue has yet become remedied, but both the Department of Justice while the GCG searching for into the matter.

It is still unclear exactly how long it may need for Americans to get their funds back, though Pappas seemed optimistic that the GCG should be able to meet their original March 31, 2014 deadline for some claims.

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

Three Years Coming

The repayment of American players would end a saga that is three-year which former Full 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, Comprehensive Tilt Poker did not return balances that are outstanding American players (in contrast to PokerStars, that was in a position to return such funds almost immediately), and eventually shut down later that year.

Later, PokerStars would purchase Full 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 on the responsibility of repaying Comprehensive Tilt users from around the entire world, but left the repayment 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 during the time of the web site’s closing.

 

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