26th of May 2013 Author: Glo Wood
A recent British Horseracing Authority (BHA) inquiry into allegations that horseracing insiders could manipulate betting exchange wagering to make money at the expense of other punters, was focused on Irish, English, and American horses.
The BHA finds that: "An increasingly popular range of online spread betting products was exploited with insider knowledge of horse races to generate guaranteed profits for a corrupt network of people."
For example, Betdaq and Betfair, both legitimate companies, as online venues that players can use in p2p bets instead of going to established bookies, could exploit these services to make an easy buck if having "integrity-challenged individuals with intimate knowledge".
However, those betting exchanges are often at the forefront of attempts to halt corruption in sports betting, and will often cooperate with regulatory authorities in finding and stamping out this criminal evil.
On the other hand, there's the example of jockey Eddie Ahern and his friend, racehorse owner former footballer Neil Clement, who reaped rewards by taking advantage of bets placed by unknowing public.
In the meantime the BHA hopes to pursue new inquires.
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