European Bookmakers Lose Millions on Horses Linked to Barney Curley

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

There’s nothing that can match the feeling of hitting a daily double, pick six or other big accumulator at the race track, especially 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 britain as four horses associated with renowned gambler Barney Curley pulled down shocking victories that may 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 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 indian dreaming pokie machine free download were both longshots that are 20-1 while Seven Summits and Low Key had been 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 much money was lost by bookmakers from the four unlikely winners varied greatly. One spokesman for Paddy Power said that the hit that is industry-wide happen since great as £15 million ($24.9 million), though others stated a more likely figure was in the number 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 on the connected horses even since the odds started to fall.

‘We dodged all of the morning that is early, but you cannot stop moving trains and we got caught up in a number of it since the day panned out,’ said Ladbrokes mind of customer PR David Williams. ‘Our choice never to price the Kempton events up until as late as feasible helped protect us through the worst from it and we undoubtedly weren’t subjected to any of the business that is overnight most of the fancy prices were snapped up.’

Unlikely Winner

Bookmakers begun to become suspicious as the odds on all four horses fell in morning betting. By the time Eye of the Tiger ran at Lingfield, the horse had been bet all of the means down to a straight money favorite despite the proven fact that he had not run for 481 times, and had failed to win in any of their previous four races.

Sure sufficient, Eye of the Tiger won his battle. 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 several times, but came into the race healthy, with Donovan calling him ‘a genuine horse.’

Soon thereafter, Seven Summits would win their battle at Catterick with 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 scratched through 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 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 turned it in,’ Donovan said.

Finally, Low Key was set to race at Kempton, and had relocated from a 7-1 shot 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 compared to past events.

Barney Curley has been a legendary trainer and gambler for years, though he has largely stayed out of the 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

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

In a world of uber-wealth with many of the wealthiest on the planet now from Asian countries it takes some cash that is serious be the wealthiest of the rich; kind 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 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 title before several news sources corrected it and maintained that previous title holder and real estate investor Li Ka-Shing remains 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 out with a $29.5 billion fortune. And that means Li retains the title he is 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 main source 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 increase in shares year that is last riding on the waves for 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 this Las Vegas Strip.

Worldwide Heavy Hitters

Aside from Bill Gates perhaps the richest man on earth, whose net worth rose by $15.5 billion this past year Lui’s gains of $14.2 billion ended up being just beaten by casino rival and Las Vegas Sands Corp. Chairman Sheldon Adelson, whom saw a rise in net worth of $14.4 billion over the last year, according to the Bloomberg ranking.

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

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

Although the 2,200-room Galaxy Macau has been the biggest casino for the company because the doors opened last year, Galaxy Entertainment Group Ltd. also owns and operates an additional five of Macau’s 35 gambling enterprises. All told, Macau reportedly generates around 97 percent regarding the 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 in an effort to capitalise on the increasing growth of the gambling destination.

Rose from Poverty

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

As Hong Kong had been going through a reconstruction growth, Lui managed to import the construction gear and make his very first fortune, which was followed by many other effective investments including property development, resort hotels 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 (Image:keepcalmomatic.uk)

It’s been a long road for Americans who have money sitting within their Full Tilt Poker records. But almost three years after the events of Ebony Friday, it seems like the majority of individuals who have asked for their cash back could be getting their cash into the very future that is near.

According to John Pappas director that is executive of Poker Players Alliance the Department of Justice has approved about 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 completed 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 undisputed Full Tilt Poker claims which can be outstanding. These are claims in which players and all other principals decided on the amount become returned to your player. In the full instance of disputed claims, there is nevertheless no timeline for repayment. Nonetheless, all players with undisputed claims must be receiving e-mails from the GCG in the weeks to come that should include directions on how best to get their money.

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

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

It is still unclear exactly how long it may need for Americans to get their funds back, though Pappas seemed optimistic that the GCG will be able to meet their initial March 31, 2014 deadline for some claims.

‘ the claims collected by GCG,’ Pappas said in a thread on the subject at the twoplustwo.com poker forums. ‘The onus is now on GCG to remit the funds to players. I don’t understand their payment process and it very well could be days, perhaps not days.’

36 Months Coming

The repayment of American players would end a three-year saga in which former Full 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, complete Tilt Poker did not return outstanding balances to American players (in contrast to PokerStars, which was in a position to return such funds almost immediately), and ultimately shut down later that year.

Later, PokerStars would buy complete Tilt Poker as an element of a deal with the U.S. Department of Justice so that you can settle the claims against both sites. That agreement saw PokerStars take regarding the responsibility of repaying Full Tilt users from around the 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 during the time of the web site’s closing.