Three days on from the sale of BetBright’s technology platform to rival gambling firm 888.com, the anger among punters over BetBright’s subsequent decision to shut down its operation immediately and void all outstanding ante-post bets shows little sign of abating.
Rich Ricci, BetBright’s former executive chairman as well as a leading National Hunt owner, told the Guardian on Wednesday that the deal with 888.com was an “unusual transaction”, and so it was. 888.com previously had its own tech for gaming, bingo and poker, but not for betting. As a result, it had an interest in a very specific part of BetBright’s operation: the betting tech, but not the betting customers or their outstanding bets and potential liabilities.
From 888.com’s point of view, the deal made perfect sense – at least, it did before Ricci and his fellow directors decided to walk away from their outstanding ante-post books on racing and football. As a result, the purchase has so far cost 888.com the headline figure of £15m, plus an unquantifiable sum in bad publicity, even after the firm agreed to honour BetBright’s ante-post racing business on next week’s Cheltenham Festival. Ante-post football bets, so far at least, are not included.
The replies to 888.com’s announcement on Twitter on Wednesday that it would stand the Festival bets show the level of anger that remains among the betting fraternity as a whole over BetBright’s actions, and what many see as 888.com’s complicity in leaving punters with potential five-figure wins high and dry. The damage to their brand at a time when, presumably, 888.com is seeking to expand its betting business is significant and ongoing, and comes just 18 months after the firm was penalised by the Gambling Commission for “serious failings in its handling of vulnerable customers”.
Ricci, meanwhile, should be prepared for a distinctly muted, if not downright hostile, reception if or when he has a winner at Cheltenham next week. There is simply nothing that punters hate more than a welching bookie and that, despite Ricci’s suggestion BetBright found the “most equitable” way to wind up its business, is how he can expect to be seen.
All this does rather beg the question: is it really worth it, for Ricci, 888.com or both? And it is a difficult one to answer, because only they know precisely what the potential liabilities for BetBright’s long-range football bets are in a worst-case scenario. Low six figures, perhaps? High six figures? Seven?
Ricci’s response to this question on Thursday morning – “I can’t comment on company proprietary matters” – was predictable, since the deal between 888.com and BetBright was surely riddled with confidentiality clauses.
This is vital information, though, not least for any other bookie looking to ride the wave of unadulterated, positive PR that would result from a move to take over BetBright’s customer book, liabilities and all. And while it’s not for a journalist to start spending other people’s money, if Ricci (estimated net worth: £100m) agreed to cover a percentage of any final payout, it could at least begin to repair the damage in terms of his personal PR.
At the very least, the scale of the potential payout that BetBright is trying to avoid should be the first question asked by the Gambling Commission if its claim to be “investigating” the complaints it has received about their actions is anything more than hot air.
Most punters’ thoughts are now fixed on Cheltenham but Wincanton has attracted an impressive number of runners for its card on Thursday afternoon and all but two of the eight races currently have double-figure fields. Myplaceatmidnight (2.10) looks very solid at around 9-2 to edge Bryony Frost closer to her 50th win of the season, while Len Brennan (2.40) will hopefully prove as ruthless as his namesake half an hour later. Chambard (2.50) and Laqab (7.55) also catch the eye at Carlisle and Chelmsford City, respectively.
Leicester 1.50 Hatcher 2.20 Cobra De Mai 2.50 Quantum Of Solace 3.25 Waikiki Waves 4.00 Eastlake 4.30 Waitinonasunnyday
Sandown 2.00 Precious Cargo 2.30 Bonne Question 3.05 Forza Milan (nb) 3.40 Keltus 4.10 Swift Crusador (nap) 4.45 Young Wolf
Lingfield 2.10 Choral Music 2.40 Holy Tiber 3.15 Warrior’s Valley 3.5 Air Force Amy 4.20 Affluence 4.55 Sister Of The Sign
Newcastle 5.20 Seeusoon 5.55 Klopp 6.30 Pea Shooter 7.00Lukoutoldmakezebak 7.30 Kodi Dream 8.00 Star Cracker
Tips by Chris Cook
