Betfair new CEO expected to be announced on Monday

Sky News broke the story on Saturday night that Paddy Power Chief Operating Officer Breon Corcoran will replace David Yu as Betfair CEO. The outgoing CEO David Yu announced earlier in the year that he wouldn't be seeking an extension of his contract from October 2012, and would even be prepared to leave earlier should a replacement be found. The official announcement to the stock exchange is expected on Monday morning, it will be interesting to see how it responds. When you compare the rapid growth of Paddy Power in recent years, and the dismal share price of Betfair since the float, you would think the market will react positively. All I know is, the new guy will have a lot of work to do to restore the confidence of the punters that got them to where they are today, and the financial market...

Betfair poaches Paddy Power exec for CEO - report

Nov 6 (Reuters) - Online betting group Betfair will announce the appointment of Paddy Power's Breon Corcoran as its new chief executive this week according to media reports.

Corcoran, who is chief operating officer at the Irish bookmaker, will succeed David Yu and end Betfair's five-month search for a replacement.

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Spot-fixing - you will never, ever be able to stop it

According to this report , IPL tournaments so far have been rife with spot-fixing - that is fixing minor elements of the game - runs in a single over, number of wides bowled etc. The curious part of that article is that the Income Tax department are supposed to have found these crimes. What idiot would be stupid enough to put down 'big wad of cash handed to me by bookie' as a source of income? Backhanders for sportsmen, particularly in a celebrity- and cricket-obsessed culture like India are not rare. They could come from anything like turning up to open someone's new business (not a sponsor, but a 'friend of a friend' arrangement), to being a guest at some devoted fan's dinner party etc. The opportunities are always there, and there will always be people trying to become friends with players and their entourage - that is human nature. This form of match-fixing (and it's not really fixing a match, just a minor element of it) is very hard to prove, but also,

It's all gone Pete Tong at Betfair!

The Christmas Hurdle from Leopardstown, a good Grade 2 race during the holiday period. But now it will go into history as the race which brought Betfair down. Over £21m at odds of 29 available on Voler La Vedette in-running - that's a potential liability of over £500m. You might think that's a bit suspicious, something's fishy, especially with the horse starting at a Betfair SP of 2.96. Well, this wasn't a horse being stopped by a jockey either - the bloody horse won! Look at what was matched at 29. Split that in half and multiply by 28 for the actual liability for the layer(s). (Matched amounts always shown as double the backers' stake, never counts the layers' risk). There's no way a Betfair client would have £600m+ in their account. Maybe £20 or even £50m from the massive syndicates who regard(ed) Betfair as safer than any bank, but not £600m. So the error has to be something technical. However, rumour has it, a helpdesk reply (not gospel, natur

lay the field - my favourite racing strategy

Dabbling with laying the field in-running at various prices today, not just one price, but several in the same race. Got several matched in the previous race at Brighton, then this race came along at Nottingham. Such a long straight at Nottingham makes punters often over-react and think the finish line is closer than it actually is. As you can see by the number of bets matched, there was plenty of volatility in this in-play market. It's rare you'll get a complete wipe-out with one horse getting matched at all levels, but it can happen, so don't give yourself too much risk...

Sport is made for betting

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