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 again whenever a 9000- 1 shot on four horses came through (Image: The Guardian)

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

Long Odds on Four Horses

The story began on evening, as odds began showing up for some of Wednesday’s races tuesday. There have been four horses in all, each coming down a long layoff to race at fairly long odds. Horses Eye for the Tiger and Indus Valley were both longshots that are 20-1 while Seven Summits and Low Key had been more fairly priced at 7-1. in every situation, a $1 accumulator bet on all four horses to win would have made a bettor around $13,000 at Bet365, if the bets came in at simply the best time when all four races were on the board as well as the odds were as favorable as possible.

Estimates of precisely how much money ended up being lost by bookmakers through the four unlikely winners diverse greatly. One spokesman for Paddy energy said that the industry-wide hit could are because great as £15 million ($24.9 million), though others said an even more likely figure was in the number of £2 million ($3.3 million).

Some bookmakers, such as Ladbrokes, avoided the largest losings by only posting odds later in the afternoon, though many bettors picked up in the connected horses even since the chances started to fall.

‘We dodged most of the morning that is early, but you cannot stop moving trains and we got caught up in some of it once the day panned out,’ said Ladbrokes head of consumer PR David Williams. ‘Our decision not to price the Kempton races up until as late as possible helped protect us through the worst from it so we definitely were not confronted with any of the business that is overnight a lot of the fancy prices were snapped up.’

Unlikely Winner

Bookmakers started to become dubious as the odds on all four horses fell 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 winner, these people were told that the horse was now being trained by Dan Donovan, and had previously been trained by Curley himself. The horse had apparently been injured several times, but came in to the race healthy, with Donovan calling him ‘a genuine horse.’

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

The third horse, Indus Valley, was another Donovan-trained runner who was 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 constantly shown ability but we had been lucky the 2nd just switched it in,’ Donovan stated.

Finally, Low Key was set to race at Kempton, and had moved from a 7-1 shot up to a favorite that is 7-4. 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 significant fall in class in comparison to past events.

Barney Curley has been a legendary trainer and gambler for decades, though he has largely stayed out of the general public eye. Curley who states that he gets more of a thrill out of beating the bookmakers than from 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

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

In a world of uber-wealth with a lot of the wealthiest on earth now from Asian countries it takes some cash that is serious be the richest regarding the rich; type of like being crowned Miss Universe from out of a bevy of stellar beauties. And simply like Miss Universe, sometimes the votes get tallied incorrect along with to give the crown back.

That seems to be what’s happened with Lui Che-Woo, founder of casino operator Galaxy Entertainment Group Ltd., who briefly held the title before several news sources corrected it and maintained that past title holder and genuine estate investor Li Ka-Shing continues to be Asia’s richest guy.

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 is held since April 9, 2012, when he moved past previous richest, Indian billionaire Mukesh Ambani.

As a daily position of the richest people in the world, 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 working day in nyc, using the closing share price to calculate positions on the index and taking inherent family wealth under consideration as well.

The primary supply of wealth for the billionaire mogul comes from his 51 percent stake in Galaxy Entertainment Group Ltd., which ranks third in dimensions for Asia’s casino operators and saw a 129 percent increase in shares year that is last riding on the waves of the 18.6 percent increase 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 actually been legalized. Galaxy Macau is situated in the heavily visited gaming location of Cotai, known popularly as Asia’s version of the Las Vegas Strip.

Global Heavy Hitters

In addition to Bill Gates perhaps the man that is richest in the world, whose 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, whom saw a growth in net worth of $14.4 billion over the final year, in line with the Bloomberg position.

According to analyst that is macau-based Union Gaming Group, Grant Govertsen, the Lui family’s early investment in Cotai is mostly to thank due to their current degree of success.

‘ The boom there ramped up the share price wealth and appreciation creation for the Lui family members,’ explained the analyst. ‘They’re well positioned for long-term growth and so are focused on becoming the dominant player in Macau.’

Although the 2,200-room Galaxy Macau has been the casino that is largest for the business considering that the doorways launched in 2011, Galaxy Entertainment Group Ltd. also has and operates an extra five of Macau’s 35 gambling enterprises. All told, Macau reportedly generates around 97 percent associated with group’s revenue, which is leading Lui and his son, deputy chairman Lui Yiu Tung, to a $2.6 billion addition to Galaxy set for next year so as to capitalise on the increasing growth of the gambling destination.

Rose from Poverty

The billionaire that is self-made extremely humble beginnings, as he and his family fled the town of Jiangmen in the Guangdong province for Hong Kong when southern China was invaded by the Japanese. As a teen, he helped to guide his family members by attempting to sell food on the populous town streets, but later managed to procure construction equipment left behind following the U.S. invasion of Okinawa in Japan.

As Hong Kong ended up being going right through a reconstruction growth, Lui handled to import the construction equipment and make their first fortune, which was followed by a great many other effective investments property that is including, resorts and casinos.

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 moment now (

It’s been a long road for Americans who have cash sitting in their Full Tilt Poker accounts. But nearly three years after the events of Ebony Friday, it appears like the majority of those who have asked for their money-back might be getting their cash in the very future that is near.

According to John Pappas executive director of the Poker Players Alliance the Department of Justice has approved approximately 30,000 claims made through the Garden City Group (GCG) for the return of funds from Full Tilt Poker records. Which 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 could be returned to American players shortly.

Only Undisputed Funds Returned For Now

Those numbers apparently represent only the undisputed Full Tilt Poker claims that are outstanding. These are claims in which players and all other principals agreed on the amount become returned towards the player. In the case of disputed claims, there is nevertheless no timeline for repayment. Nevertheless, all players with undisputed claims ought to be getting email messages from the GCG in the months to come that should include directions on the best way to get their money.

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

A bigger issue is that of what’s going to happen to affiliates and Full Tilt Poker-sponsored professional players who are nevertheless owed money. In accordance with Pappas that issue has yet become solved, but both the Department of Justice and also the GCG want in to the matter.

It is nevertheless unclear exactly just how long it may need for Americans to get their funds straight back, though Pappas seemed optimistic that the GCG should be able to satisfy their March that is original 31 2014 due date for some claims.

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

36 Months Coming

The repayment of American players would end a saga that is three-year which former complete 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 failed to return outstanding balances to American players (in contrast to PokerStars, that was in a position to return such funds almost immediately), and sooner or later shut down later that year.

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


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