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 absolutely nothing that can match the feeling of striking a double that is daily choose six or other big accumulator at the competition 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 racing history, few compare towards the story that played out this week in the UK as four horses connected to famous gambler Barney Curley pulled off shocking victories that may 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 of this Tiger and Indus Valley had been both 20-1 longshots, while Seven Summits and Low Key were more fairly priced at 7-1. in almost any situation, a $1 accumulator bet on all four horses to win might have made a bettor around $13,000 at Bet365, in the event that wagers came in at simply the proper time when all four races were on the board plus the chances were as favorable as feasible.

Estimates of just how much money ended up being lost by bookmakers through the four not likely winners diverse significantly. One spokesman for Paddy Power said that the industry-wide hit could are as great as £15 million ($24.9 million), though others said a more likely figure was in the product range 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 found in the connected horses also while the chances started to fall.

‘We dodged all the morning that is early, but you cannot stop moving trains and we got caught up in some of it because the day panned out,’ said Ladbrokes mind of customer PR David Williams. ‘Our choice not to price the Kempton races up until as late as possible helped protect us through the worst from it and now we undoubtedly weren’t confronted with any of the overnight business where all the fancy prices were snapped up.’

Unlikely Winner

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

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

Soon thereafter, Seven Summits would win their race at Catterick by way of 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 was in fact scratched from the race. Seven Summits was also previously trained by Curley.

The horse that is third Indus Valley, was another Donovan-trained runner who had been racing for the 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 were lucky the 2nd just switched it in,’ Donovan stated.

Finally, Low Key was set to race at Kempton, and had relocated 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 drop that is significant class in comparison with past races.

Barney Curley has been a legendary trainer and gambler for decades, though he has largely stayed out of the general public eye. Curley whom states 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 success that is four-horse 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 straight back (Image: Forbes)

In a world of uber-wealth with many of the wealthiest on earth now from Asian countries it takes some serious cash to be the richest regarding 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 wrong and you have 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 estate investor Li Ka-Shing continues to be Asia’s man that is richest.

Lui’s web worth jumped up by $2.9 billion this 12 months to $23.7 billion; but wealth protagonist Li still beats him away with a $29.5 billion fortune. And that means Li retains the title he is held since April 9, 2012, as 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 source of wealth for the billionaire mogul comes from his 51 percent stake in Galaxy Entertainment Group Ltd., which ranks third in size 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 regarding 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 of this Las Vegas Strip.

Worldwide Heavy Hitters

Regardless of Bill Gates perhaps the man that is richest on earth, whose net worth rose by $15.5 billion last year Lui’s gains of $14.2 billion was only 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 very last year, based on the Bloomberg position.

According to Macau-based analyst at Union Gaming Group, Grant Govertsen, the Lui family’s early investment in Cotai is mostly to thank for his or her 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-lasting growth and tend to be focused on becoming the player that is dominant Macau.’

Although the 2,200-room Galaxy Macau is the biggest casino for the business because the doors opened 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 this group’s revenue, which is leading Lui and his son, deputy chairman Lui indian dreaming slots 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 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 invaded by the Japanese. As a teen, he assisted to guide their family by attempting to sell food on the populous city streets, but later managed to procure construction equipment left out following the U.S. invasion of Okinawa in Japan.

As Hong Kong was going right through a reconstruction boom, Lui handled to import the construction gear and make his very first fortune, which was followed by other effective opportunities property that is including, resort hotels and casinos.

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 money sitting inside their Full Tilt Poker accounts. But almost 3 years following the events of Ebony Friday, it appears like nearly all individuals who have asked for his or her money-back could possibly 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 around 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 completed an audit of player petitions that had been processed by GCG, and represents about $82 million in funds that would be returned to American players shortly.

Only Undisputed Funds Returned For Now

Those numbers evidently represent just the undisputed Full Tilt Poker claims which can be outstanding. These are claims in which players and all other principals agreed on the amount become returned to your player. In the case of disputed claims, there is nevertheless no timeline for repayment. Nonetheless, all players with undisputed claims must certanly be emails that are receiving the GCG in the months to come that should include instructions on the best way 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 we now have some claims though not a significant number that were filed incorrectly or stay incomplete. Those individuals affected by this issue are anticipated to receive emails describing exactly how to submit the information that is missing complete their claims.

A bigger issue is of exactly what will occur to affiliates and Comprehensive Tilt Poker-sponsored professional players who are still owed money. According to Pappas that issue has yet become fixed, but both the Department of Justice and also the GCG searching for in to the matter.

It is nevertheless unclear exactly the length of time it may need for Americans to get their money back, though Pappas seemed positive that the GCG will be able to fulfill their original March 31, 2014 due date for many claims.

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

36 Months Coming

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

Later, PokerStars would purchase Full Tilt Poker as part of a deal with the U.S. Department of Justice so that you can settle the claims against both sites. That contract saw PokerStars simply take the responsibility on of repaying Comprehensive Tilt members from around the entire world, 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 the time of the web site’s closing.