Bailey Back behind Bars
Britain's most notorious betting shop fraudster John Bailey "Pencil Man" was jailed Monday for three and a half years at Hull Crown Court for scamming betting shops out of hundreds of thousands of pounds.
Bailey, 33, was arrested while on the run, and it is estimated he earned up to £40,000 a week executing his scam in betting offices nationwide.
He was found guilty on four fraud charges for which he was given three-year sentences to run concurrently and was handed a further six months for going on the run in January after writing to say he would not be attending his sentencing at Grimsby Crown Court.
Bailey, who is expected to serve 18 months and could
be considered for an earlier release, was branded a brazen predator by a judge who said he treated prison as an occupational hazard.
His scam involved placing multiple bets and distracting counter staff to steal stamped betting slips. Bailey would then write winning bets on them before returning the slip without being detected.
Ladbrokes Could Buy Ayr Racecourse
Ladbrokes has emerged as a possible bidder for Ayr racecourse. Rumors circulated Ayr on Saturday that Britain's biggest bookmaker, which owned Lingfield and managed Aintree in the 1980s, is on the shortlist to make a surprise return to racecourse ownership.
Ladbrokes' chef executive Chris Bell said last year that his company would be interested in examining possible racecourse purchases, following the government's commitment to deregulate gambling further in the wake of the Budd report.
Youbet.com Signs Marketing Agreement
Youbet.com and the California Authority of Racing Fairs (CARF) announced a multi-year, joint marketing agreement that will allow Youbet.com to be marketed throughout CARF satellite wagering facilities in California.
Under the terms of the agreement, access to Youbet.com, and the ability to place wagers, view races, and handicap, all online, will be available through interactive carrels, kiosks or workstations located inside the CARF satellite wagering facilities. Both groups have agreed to co-promote one another through the use of mailing lists, advertising space, Web sites and newsletters.
Youbet.com also announced the appointment of Victor J. Gallo as in-house General Counsel of the company earlier this month.
Gallo comes to Youbet.com from Konami Gaming, Inc. of Las Vegas, NV, where he served as vice president, legal and compliance, and corporate counsel for the last two years. Prior to that, he was an intellectual property attorney with Sierra Patent Group, Ltd. of Lake Tahoe, NV.
Betdaq Survives Busy Weekend
The busiest day in the betting year passed without a hitch at www.betdaq.co.uk.
More than £1.3 million was bet on the Grand National race earlier this month, just edging out the Premiership clash between Manchester United and Liverpool as the main event of the day.
"The service stood up very well and never missed a beat, despite higher volumes than we have ever seen before for one hour before the race," said BETDAQ's Rob Hartnett. "The addition of a place betting market was well received with over £100,000 matched in that alone, and all in all it was a good day. The odds being offered on the service made the BBC betting forecasts seem largely irrelevant with the book percentage bouncing between 102 and 105 percent at worst."
The winner of the Grand National, Monty's Pass, was backed as high as 21.0.
New US-Based Tour in the Works
Owners hoping to create the Thoroughbred Championship Tour series on Tuesday proposed to the National Thoroughbred Racing Association that participating racetracks share resulting handle.
The Tour, which would include six divisions linked to Breeders' Cup championship races, would be funded primarily by owners, up to $25-million under a format that could begin in 2004. The key to the future of the event could be whether racetracks opt to share handle and/or rearrange stakes schedules to suit the owners.
As proposed, racetracks would be called on to contribute handle on Tour events, which would be scheduled and televised monthly after the end of the Triple Crown season and culminate with the Breeders' Cup, to the Tour if betting exceeded previous handle totals on those races.
Japanese Officials Crack Down on Illegal Betting
The Japan Racing Association plans to increase efforts to control foreign Web sites offering illegal gambling on horse racing in Japan.
JRA officials believe at least seven overseas gambling books offer Japanese racing and have lured around 20,000 Japanese customers. Those operations produce annual revenue of more than $83 million, Japan Today reports.
Officials in both Japan and Hong Kong have vigorously denounced operations that offer wagering on their races. Asian bettors, they say, account for more than half of the world's betting handle.
Oklahoma Moves Closer to Alternative Gaming
Legislation to allow Oklahoma's three financially strapped racetracks to install Class II gaming machines received approval from the state's House Rules Committee on April 3.
The bill, authored by Senate Pro Tempore Cal Hobson, D-Lexington, is a way for Remington Park, Fair Meadows and Blue Ribbon Downs to compete with the more than 60 Indian casinos throughout the state.
The tracks have struggled since various Native American tribes have been allowed to offer Class II gaming and racing simulcasts.
Class II gaming includes bingo and electronic pull-tabs.