Gambling Issues

[PJ73]

Can I have peoples legal thoughts on the two following situation:

1. In running betting: allot of Bookmakers and Gaming companies run prices on events that are 'In Running' - that is betting while they happen. However due to technologies being different for individuals many people are not viewing live action and thus are potential betting on incorrect information etc. Is it legal for a company to offer a orice on a product (event) when it knows that the in running is not live and they may know an outcome before the general public, due to technology advantage?

2. Can I make a monetary gain from in running betting by using information that I know other people do not have:

i.e. I know the result of a photo finish for a horse race but can place a bet on the outcome with Bookmakers. Does this knowledge before the outcome becomes public constitute fraud or deception?

Any suggestions will be gratefully received.

PJ73.

[TWD-Tony]

You will never be able to con the bookies this way

All online bookies that have a in-play video feature advetise that the video is on average 10 - 15 seconds behind "live" and if you follow the betting as it happens (live on TV for example) then you will see that betting is always suspended at the end of the race or slightly before regardless of where the bookies "live in play" video is at.

[PJ73]

Tony,

Thank you for your response. I guess what I am looking for is whether there is legal claims against the actions I outlined above. For example I know for a fact that many people have gained financially from the second example I have given. My question is whether or not it is illegal to achieve a monetary gain through these actions.

As for the Bookmakers offering disclaimers I am not sure that this allows a level playing field of open and fair trade, as outlined in the Gaming Act 2005. I know that there is a growing push to have in running betting banned until a stable and consistent platform of technology becaomes available to all gamblers.

Appreciate any other thoughts on the matter.

PJ73

[fisicx]

Can I confirm someting. Do you actually know people who have used the time difference to pass on the results to a collegue who has placed the bet before betting closes?

[PJ73]

Let me give a bit more background here so the forum is very clear what I do know.

I know that there are many places (betting shops) where you can hire a computer for the day or longer and bet on the exchanges (Betfair etc). The reason people do this is because the betting shop has a higher technology feed from the event and thus provide the client an opportunity to place or lay prices for an event - eg. there is a three second delay between terrestial television (say Channel 4 racing) and the actual provider of the footage. There are many people making a living out of the information they receive three seconds before the general public - for example a horse falls at the last fence and is laid by a client to another punter who does not know it has fallen yet etc. This has been alive and well since the exchanges came on board and people were able to be both the Bookmaker or Punter.

In regards to the placement of money once the outcome is known the above example outlines the ongoing problem. As for the second example given I do know of an individual who has placed money on an event because they knew of the outcome before anyone else.

Again my interest is the legal ability to:

a. get your money back if you are a victim of these actions
b. is it illegal to make money through the activities outlined in this thread?

PJ73

[TWD-Tony]

Well I have a flutter on the horses quite often and I use betfair... I have also tuned into the racing channels on SKY and I have NEVER seen a market still open at the finish of a race.

If the result is to close to call towards the end of a race the odd's drop dramatically on the leaders and the rest go to 1000-1, if the race is being strongly lead with a furlong to go then betting is suspended.

I too thought that I could take advantage of the time-lag but it seems betfair are clued up on this.

Or are you saying that betting shop feeds are somehow more "live" than SKY TV?

As for the legality of it - if they allow you to do this (and I an still sceptical) then that is there problem, if they allow bets after a race is tecnically finished then they deserve to be fleeced!