Tag: liability

How to lay £600m worth of bets on Betfair?

That has to be the #1 question after yesterdays debacle in one of the feature races at Leopardstown.

To summarise, a mysterious lay bet appeared and stayed on the winning favourite at 29’s right up to the finish of the race. The ‘layer’ offered up £21m at 29’s creating a £600m liability. Betfair voided the in-running market.

Betfair have come out officially and ruled out that it was them or any account controlled by them or that they had a …