Wednesday, March 24, 2004

77 GO FORWARD FOR MARTELL COGNAC GRAND NATIONAL GLORY

This year's race has a notably strong entry from Ireland and the 15 remaining Irish-trained entries include last year's winner Monty's Pass, the 2003 Irish National hero Timbera, Hedgehunter, trained for Trevor Hemmings by Willie Mullins, and Rince Ri, trained like the 2000 winner Papillon by Ted Walsh.

First Gold, who finished fifth in last week's totesport Cheltenham Gold Cup after making much of the running, remains in the Martell Cognac Grand National on top weight of 11st 12lb and Francois Doumen's charge is one of four remaining French-trained entries along with stablemates Innox and Kelami, who was bought by owner John Halewood before finishing fourth in last week's William Hill National Hunt Handicap Chase at Cheltenham, and the Jacques Ortet-trained Paladin.

Martin Pipe still has a dozen entries in the race, including Red Square Vodka Gold Cup winner Jurancon II, Puntal, Mildmay Of Flete Chase second Iznogoud and Fulke Walwyn Kim Muir Handicap Chase victor Maximize, while the champion trainer's son David is represented by hunter chaser Lord Atterbury.

The 2003 third and fourth, Amberleigh House and Gunner Welburn, remain in the race, while Jonjo O'Neill has a strong hand, represented by Tote Becher Chase winner Clan Royal, who also landed last season's Martell Cognac Topham Chase, Joss Naylor and Simply Gifted. The 2002 winner Bindaree, Bear On Board, trained by Alan King, along with Sue Smith's pair Artic Jack and Ardent Scout, the 2002 Becher Chase winner, are others with strong form claims.

Among the 23 horses to come out at the forfeit stage are the totesport Cheltenham Gold Cup third Harbour Pilot, Fondmort, Commanche Court and the Willie Mullins-trained Macs Gildoran.

Commenting on the second forfeit, Aintree's Managing Director Charles Barnett said, "With a very strong 77 horses standing their ground, we are assured of a highly competitive race with the maximum field size (40).

"It is a tribute to the quality of the field these days that with the race being open to horses with a rating of 110 and above we still have 47 in the handicap and the 40-runner cut off is presently at 10st 2lb. It is worth remembering that the last time there was just a two-week gap between Cheltenham and Aintree in 1996, we only had 27 runners.

"We are delighted to see First Gold an intended starter after his great run in the totesport Cheltenham Gold Cup and as I have said many times before, a great story looks certain to emerge."

The Going Is Good At Aintree

Andrew Tulloch, Clerk of the Course is pleased with the condition of both the Mildmay and the Grand National course, just over a week until the meeting. The current ground conditions on both courses are Good and Aintree's policy will be, as ever, to provide ground no faster than Good for the three day meeting. Tulloch added, "An unsettled showery week is forecast," he said. "We shall monitor the situation on a daily basis and water if necessary."

Racecourse Predicts Attendance Records For Forthcoming Meeting

Aintree officials are predicting another record breaking Martell Cognac Grand National meeting in 2004. Advanced badge and corporate hospitality sales have been particularly strong for all three days of the meeting, with a high demand for Thursday, the opening day of the meeting. All Grandstand badges and hospitality packages have now sold out for all three days; however, Tattersalls badges (and Steeplechase Enclosure for Saturday only) will be available for all days.

In 2004, an integrated marketing campaign, jointly funded by the North West Development Agency (NWDA), The Mersey Partnership (TMP) and Aintree Racecourse has generated a significant response with many visitors looking to attend the race meeting for the first time. The campaign has also strongly encouraged visitors to stay within England's North West during their visit to the meeting.

The initiative has seen Aintree's very first television advertising campaign aired throughout February and March within the Granada region as well as Northern and Southern Ireland. Another first for the race meeting has been the distribution of 150,000 copies of "A Guide to the Martell Cognac Grand National meeting." The guide, published in association with 'Rough Guides', has been distributed to all racegoers attending the meeting in an effort to enhance their visit to the region.

Charles Barnett, Managing Director added, "We are indebted for the support that we have received from the North West Development Agency and The Mersey Partnership and the campaign to promote the Grand National meeting as fun, stylish and exciting, has created a fantastic response, which is being reflected through our advanced sales."

200 Racegoers All Ready For The Looking Good Style Contest

Ladies Day is gearing itself up for another fashion extravaganza, with over 200 racegoers, both male and female, already pre-registered for this year's Style Contest. The fantastic first prize, a Jaguar X-TYPE Estate worth over £23,000, will be presented to the winner of the contest on Ladies Day.

The contest, as in 2003, will be staged within the Winner's Enclosure, between 11:00am and 1:00pm. Entrants will be asked to parade on a catwalk, with five finalists being selected by a panel of judges, before the overall winner is selected at around 3:45pm. The winner, who will be deemed to be 'the most stylish racegoer for racing at Aintree', will be presented with the keys to the Jaguar, plus a commemorative bottle of Martell Cognac, within the Winner's Enclosure. The four runners-up will each receive Wade Smith vouchers and a commemorative bottle of Martell Cognac.

The contest is still open to racegoers over the age of 18 and to enter on the day, entrants must register at the Winner's Enclosure by 12noon.

Grand National Winners' Party

The red carpet will be laid out to the jockeys and racing connections taking part in this year's Martell Cognac Grand National when they will be invited to attend a special party in Liverpool held in their honour following the big race on April 3rd.

The inaugural Grand National festival winners' party, held at Liverpool's newest hotel, The Radisson SAS on Old Hall Street, will be the first time the participants in the Grand National are officially recognised by the City.

Councillor Mike Storey, leader of Liverpool City Council, said, "The region as a whole benefits so much from the Grand National, an event totally befitting its new status as European Capital of Culture 2008. This is our way of showing everyone involved at Aintree how much we appreciate their efforts, and that we as a City wish to celebrate the day with them."

THE MARTELL COGNAC GRAND NATIONAL
Class A, Showcase Handicap, Total Prize Fund £600,000, Aintree, Saturday, April 3, 2004. Four Miles & Four Furlongs (Over the Grand National Course). For six-year-olds and upwards which are allotted a rating of 110 or more by the Senior BHB NH Handicapper following a review of the horses entered and after taking account of races run up to and including February 1. Horses which are not qualified for a rating in Great Britain or Ireland at January 21 may also be entered. Such horses may be eligible for a weight providing the Handicapper is satisfied that the horse's racecourse performances to February 1 would merit a minimum rating of 110, and that the horse has either won a Steeple Chase or Hurdle Race, or has run at least three times collectively in Steeple Chases or Hurdle Races run under the Rules of Racing of the same Recognised Turf Authority by February 1. At the Handicapper's discretion, such horses may be allotted a rating. The decision of the Senior BHB NH Handicapper shall be final. Entries closed Wednesday, January 21, 2004 (122 entries), entries revealed Thursday, January 22, 2004. Weights revealed Tuesday, February 3, 2004. First confirmation stage Tuesday, February 17, 2004 (100 remained); second confirmation stage Tuesday, March 23, 2004 (77 remain). Five-day confirmation stage Monday, March 29, 2004. Final declaration stage 10am, Thursday, April 1, 2004. Confirmation of riders must be made by 1.00pm Thursday, April 1, 2004. Form figures supplied by Weatherbys and are correct up to and including the racing of Tuesday, March 23, 2004. May not include some overseas form.

Form Horse Age/Wgt Owner Trainer
3P1-1535 FIRST GOLD (FR) 11-11-12 J P McManus Francois Doumen FR
11-23F223 RINCE RI (IRE) 11-11-10 Frank Moriarty Ted Walsh IRE
11F4-422 LE COUDRAY (FR) 10-11-09 J P McManus Christy Roche IRE
144-F3FP VALLEY HENRY (IRE) 9-11-08 Andrea & Graham Wylie Howard Johnson
3641-5000 MONTY'S PASS (IRE) 11-11-07 Dee Racing Syndicate Jimmy Mangan IRE
14P52/F-4 WHAT'S UP BOYS (IRE) 10-11-06 Mrs J F Deithrick Philip Hobbs
16U3/-660420 ALEXANDER BANQUET (IRE) 11-11-05 Miriam O'Callaghan Willie Mullins IRE
P-11110 SWANSEA BAY 8-11-05 Peter Bowling Peter Bowen
24/13-36 KINGSMARK (IRE) 11-11-04 Sir Robert Ogden Martin Todhunter
PU3/-1313 ARTIC JACK (FR) 8-11-04 Trevor Hemmings Sue Smith
3-161F20 RISK ACCESSOR (IRE) 9-11-01 J P McManus Christy Roche IRE
404-35626 DAVIDS LAD (IRE) 10-11-01 Eddie Joe's Racing Syndicate Tony Martin IRE
06-F216 BINDAREE (IRE) 10-11-01 Raymond Mould Nigel Twiston-Davies
1P123236 PALADIN (FR) 9-11-00 Naji Pharaon Jacques Ortet FR
1P-PPF06 MORE THAN A STROLL (IRE) 12-10-13 Mrs D Grehan Arthur Moore IRE
4-2555P1 ALCAPONE (IRE) 10-10-11 Ann Daly Mouse Morris IRE
P-1211415U PUNTAL (FR) 8-10-10 Terry Neill Martin Pipe
000-431 SOUTHERN STAR (IRE) 9-10-10 Trevor Hemmings Henrietta Knight
244320300 WAHIBA SANDS 11-10-09 David Johnson Martin Pipe
310-2431 HEDGEHUNTER (IRE) 8-10-09 Trevor Hemmings Willie Mullins IRE
12-U11P042 SHARDAM (IRE) 7-10-08 Howard Parker Nigel Twiston-Davies
230-435601 TAKAGI (IRE) 9-10-08 Dermot Cox Edward O'Grady IRE
5/1110-2 JOSS NAYLOR (IRE) 9-10-08 Darren Mercer Jonjo O'Neill
033-342P5 AMBERLEIGH HOUSE (IRE) 12-10-07 Halewood International Ltd Ginger McCain
121B14F TAKE THE STAND (IRE) 8-10-06 The Courters Peter Bowen
1P20U-356 YOU'RE AGOODUN 12-10-06 Jeff Lammiman Martin Pipe
P00U0-0P0 THE BUNNY BOILER (IRE) 10-10-05 The Usual Suspects Syndicate Noel Meade IRE
10/-22P2101P TYNEANDTHYNEAGAIN 9-10-05 Norman Mason Richard Guest
P241-555 TIMBERA (IRE) 10-10-05 Josephine Breen Dessie Hughes IRE
0-1134100 WHEREAREYOUNOW (IRE) 7-10-05 Raymond Mould Nigel Twiston-Davies
P/5022U- RED STRIKER 10-10-05 Norman Mason Richard Guest
014-P1P1 GUNNER WELBURN 12-10-05 William Ritson/David Hall Andrew Balding
15-36514 KELAMI (FR) 6-10-04 Halewood International Ltd Francois Doumen FR
13-14521 JURANCON II (FR) 7-10-04 David Johnson Martin Pipe
06-0601P ROYAL ATALZA (FR) 7-10-03 Terry Ramsden Conrad Allen
/313//11/- THE BUSHKEEPER (IRE) 10-10-03 Brian Stewart-Brown Nicky Henderson
1113P-32 HERMES III (FR) 9-10-03 The Grand National Racing Club Ltd Mick Easterby
3122035P1 JUST IN DEBT (IRE) 8-10-02 J W Hazeldean Martin Todhunter
PUP-35336 EXIT TO WAVE (FR) 8-10-02 Malcolm Pearce & Gerry Mizel II Paul Nicholls
51411-1 CLAN ROYAL (FR) 9-10-02 J P McManus Jonjo O'Neill
3000-11PP BE MY MANAGER (IRE) 9-10-02 Brian Murfin Martin Todhunter
6P02-FP AKARUS (FR) 9-10-01 A J White Martin Pipe
U0-U04225 SPOT THEDIFFERENCE (IRE) 11-10-01 J P McManus Enda Bolger IRE
1/0P6-3P BOUNCE BACK (USA) 8-10-01 Belinda Harvey Martin Pipe
P50-P032F INNOX (FR) 8-10-01 Marquesa de Moratalla Francois Doumen FR
41F/31-12P4 JOE BLAKE (IRE) 9-10-00 Ronnie Bartlett Len Lungo
120-43440 ARDENT SCOUT 12-10-00 Alicia Skene & W S Skene Sue Smith
10P-0P5F ROYAL PREDICA (FR) 10-9-12 Peter Deal, John Dale & Allan Stennett Martin Pipe
12-P1112 BEAR ON BOARD (IRE) 9-9-12 J E Brown Alan King
221133///-P TOTO TOSCATO (FR) 10-9-12 Lady Clarke Martin Pipe
33/P403/-1U SIMPLY GIFTED 9-9-12 Steve Hammond Jonjo O'Neill
11-1P LORD ATTERBURY (IRE) 8-9-12 David Johnson David Pipe
312/2U6- MANTLES PRINCE 10-9-12 Emlyn Hughes' Cleobury Golfers Alan Juckes
U05-00P132 IZNOGOUD (FR) 8-9-12 County Stores-Avalon Surfacing Martin Pipe
04F-42P01 MAXIMIZE (IRE) 10-9-12 David Johnson Martin Pipe
6000-40R BLOWING WIND (FR) 11-9-12 Peter Deal Martin Pipe
11-30U05 SKYCAB (IRE) 12-9-11 P H Betts (Holdings) Ltd Nick Gifford
11-2P ONLY ONCE 9-9-11 Ashleybank Investments Limited Len Lungo
211-1PP10 BALLYBROPHY (IRE) 9-9-08 Keith Berry Simon Sherwood
12144-16 MR BOSSMAN (IRE) 11-9-08 T N Siviter Richard Guest
P1-113PPP WHAT ODDS (IRE) 8-9-08 Dee Racing Syndicate Tucker Geraghty IRE
4F-5FPP03 WONDER WEASEL (IRE) 11-9-07 Alan Halsall Kim Bailey
1U0-243 MOOR LANE 12-9-07 Bob Michaelson Andrew Balding
21130-U26 LORD JACK (IRE) 8-9-07 Trevor Hemmings Nicky Richards
35PP/05-4 SMARTY (IRE) 11-9-07 Tracy Brown Mark Pitman
211D200 NATIVE PERFORMANCE (IRE) 9-9-06 Donal O'Connor Michael Hourigan IRE
3//113/1/-5 KING ON THE RUN (IRE) 11-9-06 Lady Harris Venetia Williams
1141-1F312 KINGS MISTRAL (IRE) 11-9-04 R V Shaw Patrick Chamings
1P2/P-U5 SILVER STREAK (IRE) 10-9-04 Mrs Timothy Pilkington Nick Gifford
600-P326P TOM COSTALOT (IRE) 9-9-03 Gerard Nock Susan Nock
00/1-0F514BP LUZCADOU (FR) 11-9-02 A G Chappell Ferdy Murphy
22564-123 DESAILLY 10-9-02 The Team Toby Balding
U3-F64S6P MONTREAL (FR) 7-9-00 David Johnson Martin Pipe
0F-P6P3250 BRAMBLEHILL DUKE (IRE) 12-8-12 Mel Davies Venetia Williams
22P-P2RP0 KILDORRAGH (IRE) 10-8-08 Carrie Zetter-Wells Lawrence Wells
342-4211 SCOTMAIL BOY (IRE) 11-8-07 George Tobitt Howard Johnson
212320463 NOSAM 14-8-06 Norman Mason Richard Guest

77 entries remain after March 23 forfeit stage
15 Irish-trained
4 French-trained

The following 23 horses were taken out at the March 23 forfeit stage: HARBOUR PILOT (IRE), FONDMORT (FR), COMMANCHE COURT (IRE), ARCTIC COPPER (IRE), BALLYBOUGH RASHER (IRE), SHOOTING LIGHT (IRE), ROYAL AUCLAIR (FR), SCOTS GREY, MACS GILDORAN, EXIT SWINGER (FR), SHAMAWAN (IRE), WAIN MOUNTAIN, MONTIFAULT (FR), DARK STRANGER (FR), BALLYAMBER (IRE), FASGO (IRE), GOLA CHER (IRE), MAN ON THE HILL (IRE), WINDROSS,NATIVE SESSIONS (IRE), MAGICAL BAILIWICK (IRE), COQ HARDI DIAMOND (IRE) and STAR CLIPPER.

MARTIN BROUGHTON ELECTED AS NEXT CHAIRMAN OF BHB

Broughton, 56, appointed for a three-year term, said today:

"I am honoured and excited to have been given the opportunity to lead Racing, a sport which I have loved for nearly all of my life. In a period of unprecedented change, the last few years have seen Racing make tremendous progress in many areas under Peter Savill's leadership and it is essential that the sport continues to flourish.

"As Racing develops new structures and practices to encourage ever greater commercial opportunities, the role of the governing authority remains of critical importance. I have been very much encouraged that all sectors of Racing have reaffirmed their commitment to and belief in a strong, central body which exists to promote the interests of the sport as a whole.

"I see it as my role to ensure a focused and co-ordinated approach by Racing to the important issues which it will face over the coming months and years."

Outgoing Chairman Peter Savill, who steps down on 30th June from a position he has held since 1998, commented: "I am delighted that Martin has been chosen by the Board. He has a first-class commercial background and has impressed everyone with his impartial and incisive contribution to the Board as an Independent Director since 1999. I am in no doubt that he is the right man to lead Racing and BHB in the future."

GODOLPHIN SEVEN STARS WINNER RECEIVES HIS PRIZES

Saeed bin Suroor, Godolphin's trainer, made the presentation at the stable's Al Quoz headquarters in Dubai this morning (Wednesday, March 24). In addition to the huge cash prize, Nasser also won a seven-night stay at the luxurious Burj Al Arab Hotel.

Nasser, in the second year of a business information technology degree, said: "It is so exciting to have won the Godolphin Seven Stars. I couldn't believe it. I have not decided yet how I will spend the money, but I intend to give some to a charity helping needy children."

The first Dubai resident to win the Seven Stars competition, Nasser has already made his entry for the 2004 competition, entries for which can be made at www.godolphin.com. Entries must be received before midnight Dubai time on Friday (March 26).

Competitors pick seven Godolphin horses to follow through the season and earn points every time one of the horses wins or is placed, with extra points for bonus races.

The seven horses Nasser picked in March, 2003, amassed 469 points in races around the world by the end of the year, just three more than those chosen by the runner-up, Italy's Shirly Tammam, who won US$50,000. Nasser's winning horses were Sulamani (185), Mamool (95), Mezzo Soprano (73), Naheef (52), Highdown (48), Singing Poet (10) and Parhelion (6).

Saeed bin Suroor said: "I am delighted that the competition was won by a Dubai resident. With entries coming in from more than 100 countries, it's great to see a local resident coming out on top. It's a challenge for people in other countries to take the prize away from Dubai this year!"

Looking ahead to the 2004 competition, Nasser said: "I have submitted my entry for the 2004 competition and hope to be the winner again! I was lucky for the first time last year and I will see if I am lucky again."


The 2004 competition begins on Dubai World Cup day on Saturday (March 27) and ends with the Hong Kong International race day on December 12, 2004. All contestants must be over 18 and there is a limit of one entry per person.

Information about the progress of the unique competition - now in its fifth year - can be found on the award-winning Godolphin Internet site.

The same amazing prizes are on offer this year with the winner picking up US$100,000, two first-class flights to Dubai with Emirates Airline and seven nights in a duplex suite at the seven-star Burj Al Arab Hotel for the 2005 Dubai World Cup meeting.

Second prize is US$50,000, while third place earns US$30,000 with US$15,000 for fourth and US$5,000 for fifth.

ATTHERACES STATEMENT

Although discussions are still ongoing with all parties, attheraces believes there is little chance of achieving a successful outcome before Monday's deadline. Although negotiations with the 49 tracks continue, without new contracts in place on 30th March, attheraces will cease the broadcast of live UK horseracing. In this event attheraces hopes to continue with its evening broadcast of the popular US racing programme, albeit a cut-down version. attheraces intends to remain in negotiations with all parties to try and secure a new agreement even if the broadcast of UK racing ceases.

In the meantime, attheraces hopes to be able to continue to license UK Racing for broadcast in betting offices and other overseas customers and. has today written to the courses requesting a one-month contract relating to overseas rights. attheraces is fully aware of the value that these rights bring the racing industry in this country and does not wish the ongoing media rights discussions to jeopardise UK Racing's standing in the international market.

attheraces also intends to continue to operate its betting business, which has grown rapidly over the last year and recently achieved record turnover during the three days of the Cheltenham Festival. All account holders with BET attheraces will continue to be able to bet as normal on the phone and via the internet after the 29th March and will be unaffected by the protracted media rights negotiations. All customer account balances are protected..

Ian Hogg, Managing Director of attheraces said: "We have been working hard to ensure that the channel does not go off air but, as it stands, we will have no choice but to shut down the broadcast of the UK racing product. The attheraces channel has been of considerable benefit to the racing industry in this country and over 850,000 people watched our coverage of the Cheltenham week. attheraces remains the industry's only viable option looking forwards."

BETFAIR BRIEFING NOTE SENT TO THE JOINT SCRUTINY COMMITTEE TODAY

Opponents of betting exchanges have suggested that the ability to "lay" on a betting exchange is suddenly undermining the integrity of the sport. They claim that betting exchanges offer customers the facility to back a horse not to win for the very first time. This is not true: it has always been possible to back a horse to lose using "traditional" betting outlets such as Totalisators and bookmakers because backing and laying are effectively the same thing.

This note demonstrates why this is the case. Similarly it also demonstrates why an attempt to differentiate between "backers" and "layers" can not work in practice and would unfairly discriminate against one set of customers.

1. Basic principles

In a free market betting odds should accurately reflect the market's view of the likelihood of the outcome in question occurring.

Consider a 4 horse race where all 4 horses are considered equally likely to win. The probability of any one horse winning is 25%, or 1 in 4. Its odds would therefore be 3-1 before any profit margin is taken into account (ie decimal odds of 4.0. The decimal odds are the reciprocal of the percentage chance of the outcome occurring).

Customer A wants to back horse 1 to win. He bets £100 on horse 1 at odds of 3-1 to win £300. He is risking £100 in return for the possibility of winning £300 if his chosen outcome (ie horse 1 wins) occurs.

If the race is run 100 times, Customer A will expect to win £300 on 25 occasions and he will expect to lose £100 on 75 occasions. His expected profit/loss over the 100 races will therefore be zero. This is consistent with the assumption that the market is efficient and that there is no profit margin.

When Customer A backs horse 1 to win he is betting against Customer B who is backing horse 1 to lose. Customer B must risk £300 in return for the possibility of winning £100 if his chosen outcome (ie horse 1 does not win) occurs. He is backing horse 1 not to win at odds of 1-3. If the race is run 100 times, Customer B will expect to win £100 on 75 occasions and he will expect to lose £300 on 25 occasions. His expected profit/loss over the 100 races will therefore be zero. This is consistent with Customer A also having an expected profit/loss of zero. Everything Customer B does is the inverse of what Customer A does, starting with the fact that he backs horse 1 not to win at odds of 1-3.

Customer B is actually backing one of horses 2, 3 or 4 to win since if horse 1 does not win then one of the other horses must win. This proved by the fact that if Customer B wants to back horse 1 not to win he can simply place £100 on horse 2 to win at 3-1, £100 on horse 3 to win at 3-1 and £100 on horse 4 to win at 3-1. If horse 2 wins he will win £300 on that horse but will lose £100 on horse 3 and will lose £100 on horse 4. His net profit will be £100. Similarly if horse 3 wins his net profit will be £100 and if horse 4 wins his net profit will be £100. However, if horse 1 wins he will lose £300 (ie the total stakes placed on horses 2, 3 and 4).

This is exactly the same profile as when he directly backs horse 1 not to win.

This example clearly demonstrates that "laying" a horse, which is merely backing that horse not to win, is identical to backing the field (ie backing all of the other horses to win).

This is the principle on which every single Totalisator system in the world is based.

Exactly the same incentive for skulduggery therefore exists whether punters can bet directly on a horse losing (as they can by "laying" on betting exchanges) or merely on every other horse winning. What sets betting exchanges apart is their willingness and ability to provide precise details on who is involved in any suspicious betting activity (whether it be backing or laying) so that the appropriate authorities can act.

Detractors of the exchange model argue that once profit margins are included, this theory goes out of the window. They claim that in reality, it is impossible to achieve the equivalent of "laying" a horse on an exchange by backing the field against it. They are wrong. The most recent high-profile examples of horses allegedly "underperforming as a result of betting exchanges" demonstrate that very clearly.

KEY EXAMPLES

There have, recently, been 2 examples of races in the UK where the opponents of betting exchanges have tried to claim that betting exchanges undermine the integrity of the sport.

They claim that because punters were able to back a horse to lose in each race the opportunity existed to benefit directly from that horse losing. They sough to infer that this was only possible on a betting exchange.

Looking at the two races in question it is easy to see that in actual fact this opportunity existed with traditional bookmakers as well.

Ballinger Ridge

The first race was at Lingfield Park on 2nd March 2003.

The race was won by the favourite, Rye, which had a starting price of 8/11. But the race caused controversy because of the way the 15/8 second favourite, Ballinger Ridge, was beaten. Some people claimed that comments allegedly made by Kieron Fallon, the horse's jockey (and subsequently revealed in the press) that he thought the favourite would win, were evidence that people had deliberately backed Ballinger Ridge not to win because they knew he would not. At no stage did Fallon say directly that his own horse would lose; he is alleged simply to have said that he thought Rye would win. (The obvious link between one horse winning and another horse in the race not winning - so clear here - is the same one denied by those who claim that it is impossible to oppose one outcome simply by virtue of backing the other).

Let us suppose that someone did know that Ballinger Ridge would not win and wanted to guarantee a win of £100 as a result.

Clearly, this person could "lay" Ballinger Ridge (ie back it not to win) on a betting exchange, accepting a stake of £100 and offering whatever odds he wanted. In this instance, the person would leave an indelible audit trail which would include every single detail of his bet, including his identity. Furthermore, if the bets were placed at unrealistically high odds then this would alert authorities to something suspicious with the race.

Alternatively, the person could have a series of bets with traditional bookmakers on the other horses in the race and still guarantee himself winnings of £100. The table below shows what amounts the person would have to have bet on the other horses, assuming that all of these bets were struck at starting price (SP). Given that the vast majority of bets struck in the UK are struck at SP this is straightforward.

It is immediately obvious that it is possible to guarantee a known return of £100 by betting with traditional bookmakers if a punter knows that Ballinger Ridge will not win.

All of these bets could have been placed with traditional bookmakers. But if they had been placed this way there would have been no way of linking the bets together or tying them to an individual, known, identity because they could all have been placed in cash. Similarly, there is no guarantee that there would have been any transparency in the price movements to alert authorities to anything suspicious.

Ice Saint

The second race involved a horse called Ice Saint and took place at Fontwell Park on 8th March. Again, if we assume that a person knew that the horse would not win then it would have been extremely easy for him to guarantee a win of £100 by placing bets on the other 3 horses with a traditional bookmaker. The following table shows the bets that would need to be struck (again all at actual SP).

Once again it is clear that it is a trivial exercise to "lay" a horse by backing others in the same race.

2. Conclusion


The two real-life examples above demonstrate that backing horses to lose is not a new phenomenon. Rather, it is something that has been around since betting began.

The long list of betting scandals that pre-date the advent of betting exchanges is evidence that people have always sought to profit from skulduggery. All that is new with betting exchanges is an enhanced transparency that highlights when betting patterns are suspicious. As such, betting exchanges will improve, not undermine, the integrity of the sport.

Many people have tried to claim that the notion that you can back all horses in a race to win except the one you want to lose is fine in theory but does not work in practice. The two examples above clearly demonstrate that this is not the case.

Another clear demonstration that backing and laying are the same thing can be seen in the example below. There, a punter using Betfair can either directly back a horse not to win by "laying" it or can do so indirectly by backing all other horses in the same race simultaneously.

In conclusion, it is clear that backing and laying are the effectively the same thing. They are two sides of the same coin, and both have been available since betting began.

For old articles (from 1st March 2000) go to the Newslink Archive

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