European Bookmakers Lose Millions on Horses Linked to Barney Curley

Iconic gambler Barney Curley has done it once again whenever a 9000- 1 shot on four horses came through (Image: The Guardian)

There’s nothing quite like the feeling of striking a daily double, pick six or other big accumulator at the battle track, specially 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 UK as four horses linked to legendary gambler Barney Curley pulled down 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 were four horses in all, each coming off a layoff that is long race at fairly long odds. Horses Eye of the Tiger and Indus Valley were both longshots that are 20-1 while Seven Summits and Low Key were more fairly priced at 7-1. A $1 accumulator bet on all four horses to win would have earned a bettor around $13,000 at Bet365, if the bets came in at just the right time when all four races were on the board and the odds were as favorable as possible in any case.

Estimates of so just how money that is much lost by bookmakers through the four not likely champions varied significantly. One spokesman for Paddy Power said that the hit that is industry-wide have already been since great as £15 million ($24.9 million), though others stated an even more likely figure was at the range of £2 million ($3.3 million).

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

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

Unlikely Winner

Bookmakers begun to become dubious as the odds on all four horses dropped in betting morning. By the full time Eye of the Tiger ran at Lingfield, the horse had been bet all the means down to an even money favorite regardless of the undeniable fact that he hadn’t run for 481 days, and had unsuccessful to win in any of their previous four races.

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

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

The third horse, Indus Valley, was another Donovan-trained runner who ended up being racing for the very first time in nearly 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 second just turned 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 class in comparison with previous 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 says 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. The same 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

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

In a realm 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; sort 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 the crown back.

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 genuine property investor Li Ka-Shing continues to be Asia’s man that is richest.

Lui’s web worth jumped up by $2.9 billion this year 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’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 the 18.6 percent increase in revenues for Macau, which reached a total of $45.2 billion.

Lui’s biggest casino Galaxy 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 location that is gaming of, known popularly as Asia’s version regarding the Las Vegas Strip.

Global Heavy Hitters

In addition to Bill Gates arguably the richest man on the planet, whose net worth rose by $15.5 billion a year ago Lui’s gains of $14.2 billion ended up being 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 last year, based on the Bloomberg ranking.

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 appreciation and wide range creation for the Lui family,’ explained the analyst. ‘They’re well positioned for long-lasting development and so are focused on becoming the player that is dominant Macau.’

Although the 2,200-room Galaxy Macau is the casino that is largest for the business considering that the doors launched last year, Galaxy Entertainment Group Ltd. also has and operates an additional five of Macau’s 35 gambling enterprises. All told, Macau reportedly generates around 97 percent associated with 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 an effort 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 town of Jiangmen in the Guangdong province for Hong Kong when southern China was occupied by the Japanese. As a teen, he helped to guide his household by attempting to sell food on the 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 through a reconstruction growth, Lui managed to import the construction equipment and make his very first fortune, which was followed by a great many other successful assets 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 time now (

It’s been a road that is long Americans who have money sitting within their Full Tilt Poker reports. But nearly three years following the events of Black Friday, it appears like the majority of anyone who has asked for their money-back could be getting their cash into the very near future.

According to John Pappas executive director of the 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 records. That 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 may be returned to American players shortly.

Only Undisputed Funds Returned For Now

Those numbers evidently represent just the Full that is undisputed Tilt claims that are outstanding. These are claims in which players and all other principals decided on the amount to be returned to your player. In the full case of disputed claims, there is nevertheless no timeline for repayment. However, all players with undisputed claims must be getting email messages from the GCG in the days to come that should include instructions on how best to get their money.

That doesn’t mean that the whole remissions process is planning to get 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 stay incomplete. Those individuals affected by this dilemma are required to get emails describing exactly how to submit the missing information to complete their claims.

A larger issue is that of exactly what will happen to affiliates and Comprehensive Tilt Poker-sponsored professional players who are still owed money. According to Pappas that issue has yet become remedied, but both the Department of Justice as well as the GCG are searching into the matter.

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

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

Three Years 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, complete Tilt Poker neglected to return outstanding balances to American players (in contrast to PokerStars, which was in a position to return such funds almost immediately), and fundamentally shut down later that 12 months.

Later, PokerStars would buy Comprehensive Tilt Poker as part 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 Full Tilt members from around the world, but left the repayment of Americans towards the 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.

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