Betfair To Float, Valued at £1.5 Billion

Online gambling site Betfair has announced its intention to float, as the company unveiled pre-tax profits of £18m in the year to the end of April. (from Sky News)

Betfair logo

Betfair employees will also benefit from any windfall from the floatation

Sky’s City editor Mark Kleinman first reported on Betfair’s plans for an autumn stock market listing in July. He said the flotation would value the company at around £1.5bn. According to Kleinman, the floatation will aid the betting site’s expansion into new markets, both internationally and other areas that use similar technology.

Only 10 percent share of the company will be listed on the London Stock Exchange. Ed Wray and Andrew Black founded the gambiling website 11 years ago. Ownership is currently split into four blocs between the founders, Japanese bank Softbank, venture capital firm Balderton Capital, and the company’s 2300 employees. The company is being advised by American banks Goldman Sachs and Morgan Stanley.

Betfair abandoned an attempt to float in 2005.

Harry Findlay Warned Off For Six Months, Madness

Harry Findlay has vowed to lodge an appeal after being warned off for six months in connection with laying his own horse, Gullible Gordon, on two occasions.

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Harry Findlay charged by BHA

The owner and professional gambler was banned by the BHA from running his horses for six months and warned off from visiting racecourses after being found guilty of laying one of his own horses to lose on two occasions.

He was charged by the BHA last month and told of the news on Friday morning. Commenting on this harry Findlay said;

“I’m a gambler and all I have is my word. My CV wouldn’t get me a job stacking shelves at Sainsburys, all I have is my reputation.

“I understand why they don’t want people even hedging but they can’t destroy someone’s livelihood. I’m not talking as Harry Findlay here, I’m talking for racing.

“The people who ultimately decide if people are charged with gambling-related offences do not understand gambling. It cannot be right.”

It’s a joke, there was nothing bent about this event. If Gullible Gordon, who finished sixth, had won, the profit would have been £23,755.60. The loss was therefore £62,321.26. The second charge related to a race at Chepstow on October 10, 2009. If Gullible Gordon had been defeated, the loss would have been £31,966.33. He won the race, so the profit was £35,245.30.

Betfair said; “We understand that whilst this may have been a technical breach he was, in effect, overwhelmingly a net backer of the horses in question.

“When the rule was introduced the then Jockey Club made clear that it was a rule that necessarily had to be applied in spirit as well as in law. We do not believe the punishment to be proportionate or, for that matter, consistent with similar offences in the past. We will continue to welcome Harry as a customer.”

The BHA are so stupid, this is ridiculous, there is bent races day in and day out that go completely unpunished. harry Findlay puts loads in to the game and owns so many horses, its a case of shooting yourself in the foot. Racing needs to take a look at itself.

Harry Findlay In Bother, But What a Joke!

DENMAN’S owner Harry Findlay has been charged by the BHA in connection with laying his own horse, Gullible Gordon, on two occasions, although the racing authority has made clear that bets to win on the horse each time “significantly outweighed the lay bets”.

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Harry Findlay charged by BHA

The lay bets on Gullible Gordon relate to races at Exeter in October 2008 – when lay bets were placed on Betfair to the sum of around £17,638, when he was backed for £80,004, according to the BHA press release – and Chepstow in October 2009 (£32,033, backed for £64,000).

So Findlay was a net backer of the horse, presumably he was doing a bit of trading, on Betfair. I don’t see the problem, clearly there was no wrongdoing here, Findlay was a significant net backer of his horse and there is no suggestion that there was any intention to defraud punters. There is certainly no question over the trainer and jockey.

So what the hell is this all about? Headlines in my view! Day in day out questionable betting patterns can be observed, this is not ‘dodgy’ and his position as a net backer is clear and accepted by the BHA. A waste of time and if I was Harry I would reconsider my ownership in such volumes.

Snow: The Beginning Of The End?

It is 8-11 on Betfair that National Hunt turf racing will take place before January 18th, and evens that another blank week is on the cards.

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Snow Snow Go Away!

Plenty of punters in the south woke up this morning to find the snow and ice finally beginning to melt on their cars, and optimism that an end to the freeze may be in sight is reflected in the Betfair markets.

Betfair spokesman Tony Calvin commented: “I was beginning to feel optimistic about turf racing being on the horizon when I woke up to temperatures above freezing this morning, but then I saw the snow blitzing down at Southwell.

“It is currently 8-11 that a turf meeting will survive in the coming week, but those odds are likely to change with every weather bulletin and updated forecast. So over to you, John Kettley.”

Will NH Turf racing take place in the coming week (week ending Jan 17th)? – Betfair bet: 8-11 Yes, Evs No.

Suntalk Weekend Tips and Charity Bet

Suntalk Tips

Suntalk Tips

Betfair have kindly given me £100 to wager on behalf of the charity Help for Heroes over the weekend. For Suntalk listeners, as promised here is where the £100 will be going over the weekend;

The £100 will be split between horseracing at Ascot and the big match where England face Ukraine away. My bets are;
Horseracing; Saturday

    • £25 to Win on CLASS IS CLASS (no 16), 3.30 Ascot, about 5/1
    • £25 Win on TAMAGIN (no 12), 2.55 Ascot, about 7/1

Football; Saturday

    • £50 on ENGLAND to win at 13/8… against Ukraine

    Lets hope that we cam make a few quid for an excellent charity. If you want to have a bet and get a £25 free bet then open an account with Betfair now…

Fridays Lay Betting Tips, 9th October

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Free Lay To Lose Betting Tips from LayForm.com

Layform.com offer short priced horses to Lay to Lose on Betfair. Layform gives you a free horse to lay daily- exclusive to Racing Diary, the home of free lay betting tips. Our experts have one Free Lay for you today…

Today’s Free Lay Betting Tip

2,45 York- Kings Gambit

Should be a case of Northern fav getting beaten by Southern raiders at York.
To Lay horses you will need a Betfair account. Open one here and get a £25 no lose free bet (see below). Also to learn how to lay horses then visit Layform.com

The Snail

Sundays Lay Betting Tips, 4th October

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Free Lay To Lose Betting Tips from LayForm.com

Layform.com offer short priced horses to Lay to Lose on Betfair. Layform gives you a free horse to lay daily- exclusive to Racing Diary, the home of free lay betting tips. Our experts have one Free Lay for you today…

Today’s Free Lay Betting Tip

3.15 Longchamp- Fame and Glory

Not managed to beat Sea The Stars and I think looks held.
To Lay horses you will need a Betfair account. Open one here and get a £25 no lose free bet (see below). Also to learn how to lay horses then visit Layform.com

Fridays Lay Betting Tips, 2nd October

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Free Lay To Lose Betting Tips from LayForm.com

Layform.com offer short priced horses to Lay to Lose on Betfair. Layform gives you a free horse to lay daily- exclusive to Racing Diary, the home of free lay betting tips. Our experts have one Free Lay for you today…

Today’s Free Lay Betting Tip

2.30 Newmarket- Sand Vixen

Race is a showdown with Lady of the Desert who we and official ratings have well ahead (six pounds).
To Lay horses you will need a Betfair account. Open one here and get a £25 no lose free bet (see below). Also to learn how to lay horses then visit Layform.com

Wednesdays Lay Betting Tips, 30th September

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Free Lay To Lose Betting Tips from LayForm.com

Layform.com offer short priced horses to Lay to Lose on Betfair. Layform gives you a free horse to lay daily- exclusive to Racing Diary, the home of free lay betting tips. Our experts have one Free Lay for you today…

Today’s Free Lay Betting Tip

3.25 Nottingham- Sally Forth

A couple on side, not least Royal Diamond who I think will win.
To Lay horses you will need a Betfair account. Open one here and get a £25 no lose free bet (see below). Also to learn how to lay horses then visit Layform.com

Tuesdays Lay Betting Tips, 29th September

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Free Lay To Lose Betting Tips from LayForm.com

Layform.com offer short priced horses to Lay to Lose on Betfair. Layform gives you a free horse to lay daily- exclusive to Racing Diary, the home of free lay betting tips. Our experts have one Free Lay for you today…

Today’s Free Lay Betting Tip

4.00 Sedgefield- Spellchecker

I think we have at least two on side. Spellchecker is a good lay.
To Lay horses you will need a Betfair account. Open one here and get a £25 no lose free bet (see below). Also to learn how to lay horses then visit Layform.com