Daily Mirror Exposes "Reality TV Betting Fraud" With Cooperation From Betfair;
Today's Mirror carries the following story
on its online edition;
14 December 2005
XPOSED: FRAUD GANG TAP IN TO TV PHONE VOTE LINES..AND PULL OFF HUGE BETTING STING
Exclusive By Andy Lines A BETTING scam that raked in a fortune from reality TV shows like the X Factor has been smashed. Investigators swooped after becoming suspicious of a string of huge wagers being put on winners minutes before they were announced live on television. It is believed punters were tipped off by text from a BT worker with access to phone vote totals for the programmes. A five-man gang scooped £105,000 in fraudulent wagers with unsuspecting online firm Betfair. One friend of the mob said: "The guys knew they could not lose. It is corrupt. At first it was small amounts but they were caught out when they got greedier." Betfair called police after busting the sting, which also involved shows such as Strictly Come Dancing and Hell's Kitchen. The gang made £30,000 on the X Factor alone with bets on contestants battling it out before judges Simon Cowell and Sharon Osbourne. A Betfair spokesman said: "We have no hesitation contacting police when people may be betting fraudulently."
Readers of Special Bets will know from our archived posts that "insider trading" is something we've often discussed and analysed. We believe that it is a big positive for Specials Betting to see Betfair and the Police apparently taking this problem seriously... watch this space for updates on this story..
On I'm A Celebrity Insider Trading;
Bet in the Betfair Betting Exchange. Click here!