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

There’s nothing that can compare with the feeling of striking a double that is daily pick 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 were some epic wins over the course of horse racing history, few compare to the story that played out this week in the UK 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 started on evening, as odds began showing up for some of Wednesday’s races tuesday. There were four horses in all, each coming down a layoff that is long race at fairly long odds. Horses Eye associated with 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 virtually any instance, a $1 accumulator bet on all four horses to win would have received a bettor around $13,000 at Bet365, if the wagers came in at just the right time when all four races were on the board while the odds were as favorable as possible.

Estimates of exactly how much money had been lost by bookmakers through the four unlikely champions varied significantly. One spokesman for Paddy energy said that the hit that is industry-wide have already been because great as £15 million ($24.9 million), though others stated a far more likely figure was at the range of £2 million ($3.3 million).

Some bookmakers, such as Ladbrokes, avoided the largest losses by only posting odds later in the afternoon, though many bettors acquired on the connected horses even due to the fact chances started to fall.

‘We dodged most of the morning madness, but you can’t stop moving trains and we got caught up in some of it once the day panned out,’ said Ladbrokes mind of consumer PR David Williams. ‘Our decision not to price the Kempton races up until as late as feasible helped protect us from the worst from it and now we undoubtedly were not subjected to any of the business that is overnight all of the fancy prices were snapped up.’

Unlikely Winner

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

Sure sufficient, Eye of the Tiger won his competition. When stewards at the track established 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 times that are several but came in to the race healthy, with Donovan calling him ‘a genuine horse.’

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

The third horse, Indus Valley, was another Donovan-trained runner who was rushing for the first time in nearly 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 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 with past races.

Barney Curley has been a legendary trainer and gambler for years, though he has largely stayed out of the general public eye. Curley whom claims that he gets more of a thrill away from beating the bookmakers than through the cash he wins has been finding ways to beat bookies since at least the 1970s. 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 straight back (Image: Forbes)

In a world of uber-wealth with many of the wealthiest on earth now from Asian countries it takes some cash that is serious be the wealthiest of this 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 incorrect and you have to give back the crown.

That seems to be what is 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 real estate investor Li Ka-Shing remains Asia’s man that is richest.

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, 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 supply of wide range 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 actually been legalized. Galaxy Macau is situated in the heavily visited gaming location of Cotai, known popularly as Asia’s version associated with the Las Vegas Strip.

Global Heavy Hitters

Irrespective of Bill Gates perhaps the richest man on earth, whose net worth rose by $15.5 billion a year ago Lui’s gains of $14.2 billion had been just beaten by casino rival and Las Vegas Sands Corp. Chairman Sheldon Adelson, who saw an increase in net worth of $14.4 billion over the very last year, according to 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 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 development and are also focused on becoming the dominant player in Macau.’

Although the 2,200-room Galaxy Macau is the largest casino for the business because the doors exposed in 2011, Galaxy Entertainment Group Ltd. also owns and operates an extra 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 president Lui Yiu Tung, to a $2.6 billion addition to Galaxy set for the following 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 city of Jiangmen in the Guangdong province for Hong Kong when southern Asia ended up being invaded by the Japanese. As a teen, he assisted to support his household 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 through a reconstruction boom, Lui managed to import the construction gear and make their very first fortune, which was followed by a number of other effective assets property that is including, hotels 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 time now (Image:keepcalmomatic.uk)

This has been a long road for Americans who possess cash sitting within their Full Tilt Poker accounts. But nearly 36 months following the events of Ebony Friday, it appears like the majority of those who have asked with regards to their money-back could be getting their cash into the very not too distant future.

According to John Pappas director that is executive of 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 were 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 apparently 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 instance of disputed claims, there is still no timeline for repayment. But, all players with undisputed claims must be receiving emails from the GCG in the days to come that will include guidelines on how best to obtain their money.

That doesn’t mean that the remissions that are entire is likely 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 problem are required to receive emails explaining just how to submit the information that is missing complete their claims.

A bigger issue is that of exactly what will occur to affiliates and Full Tilt Poker-sponsored professional players who are still owed cash. According to Pappas that issue has yet to be solved, but both the Department of Justice and also the GCG are searching into the matter.

It is still unclear exactly how long it will take for Americans to get their money right back, though Pappas seemed positive that the GCG should be able to meet their original March 31, 2014 due date for most 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 very well might be days, perhaps not months.’

36 Months Coming

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

Later, PokerStars would purchase Full Tilt Poker as an element of a deal with the U.S. Department of Justice in order to settle the claims against both sites. That contract saw PokerStars simply take the responsibility on of repaying Comprehensive Tilt users 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 that time of the web site’s closing.