Horse Betting Scheme Ended

11/05/2008		Horse Betting Scheme Ended
Home History Games News Dictionary		Most online gamblers know the responsibility lays with them to know who they’re betting with for security purposes. But occasionally, the bookmakers are the ones who get scammed as happened this week when investigations finally came to a close surrounding a corrupted ring of horse trainers, jockeys and players, using Betfair’s online bookies as the tool by which to cheat. Both jockey Dean McKeown, 48, and trainer Paul Blockley were banned by the British Horseracing Authority after the two were found guilty, along with 6 others, of playing parts in a conspiracy to cheat Betfair of profits by providing insider information to bettors. The key piece in the investigation revolved around an incident in which all Blockley’s runners in 11 races lost, and a significant amount of lay bets had been taken on the betting exchange website Betfair for the horses to do just that. The lay bets seemed uncommon for the events, and an investigation ensued, eventually proving that Blockley had set up an information ring using outside bettors to set up lay bets. In the instigating event, a total of £182,541 was risked, but brought the group back a profit of £61,909 for their efforts. Blockley has been banned for two and a half years, while jockey KcKeown has been forbidden for four years for their acts, which breached regulations prohibiting jockeys and trainers from conspiring with other persons to commit fraudulent or corrupt practices (rule 201v.) Others included in the conspiracy were Clive Whiting, racehorse owner, owners David Lovatt and Martyn Wakefield, Vincent Whiting (brother to Clive), and former owners David Wright, Nicholas Rook, and Marcus Reeder. Lovatt and Wakefield’s charges include not only violations of 201v, but also 220vvi for misleading BHA investigators. The punishments ranged from disqualification for 18 months to eight years; Lovatt also received a fine for £20,000.

11/05/2008

Horse Betting Scheme Ended

Most online gamblers know the responsibility lays with them to know who they’re betting with for security purposes. But occasionally, the bookmakers are the ones who get scammed as happened this week when investigations finally came to a close surrounding a corrupted ring of horse trainers, jockeys and players, using Betfair’s online bookies as the tool by which to cheat.

Both jockey Dean McKeown, 48, and trainer Paul Blockley were banned by the British Horseracing Authority after the two were found guilty, along with 6 others, of playing parts in a conspiracy to cheat Betfair of profits by providing insider information to bettors. The key piece in the investigation revolved around an incident in which all Blockley’s runners in 11 races lost, and a significant amount of lay bets had been taken on the betting exchange website Betfair for the horses to do just that. The lay bets seemed uncommon for the events, and an investigation ensued, eventually proving that Blockley had set up an information ring using outside bettors to set up lay bets. In the instigating event, a total of £182,541 was risked, but brought the group back a profit of £61,909 for their efforts.

Blockley has been banned for two and a half years, while jockey KcKeown has been forbidden for four years for their acts, which breached regulations prohibiting jockeys and trainers from conspiring with other persons to commit fraudulent or corrupt practices (rule 201v.) Others included in the conspiracy were Clive Whiting, racehorse owner, owners David Lovatt and Martyn Wakefield, Vincent Whiting (brother to Clive), and former owners David Wright, Nicholas Rook, and Marcus Reeder. Lovatt and Wakefield’s charges include not only violations of 201v, but also 220vvi for misleading BHA investigators. The punishments ranged from disqualification for 18 months to eight years; Lovatt also received a fine for £20,000.