Irish Racehorse Owner Puts One Over Bookies - 06-24-10
June 24 - Irish businessman and racehorse owner Douglas Taylor hit the headlines in Ireland this week after masterminding a 'betting bonanza' that netted him and his cohorts up to ?200,000 ($245,419) in what will go down in racing circles as 'the Irish Job'.
And best of all, he did not break a single law in the process. What Taylor did was simple and legal. First, it required people with cars, 200 of them to be exact, which he facilitated thanks to his position as managing director of a Dublin-based recruitment firm.
Then it required ?200 for each 'driver' to wager with, a digital watch for each with the alarm set to go off at exactly 6:55pm, and over 100 Irish bookmakers in the counties of Dublin and Kildare offering odds on the Hurley Family Kilbeggan Handicap Hurdle.
The plan was for all 200 people to place a ?200 bet on the same horse, D Four Dave (which happens to be co-owned by Taylor) at precisely 6:55pm, which was five minutes before the Hurley, at whatever odds were available, some as high as 14/1.
The idea was that if the bets were placed earlier in the day, most bookies would have become wary and slashed the odds. But as the bets were laid so late in the day, they were simply processed saw the odds on D Four Dave end up at about 5/1 to win.
This meant that Taylor and his team managed to put around ?40,000 on his horse to win at the best possible odds, so that when D Four Dave did win, the highest possible amount was paid out. It was a precision plan that ran like clockwork and paid off.
And when bookmakers learnt of Taylor's cheeky plan, most shrugged saying that he had done nothing wrong. Even representatives of the Irish Bookmakers Association (IBA) had to concede that Taylor's plan was clever. 'It's a classic. They did nothing illegal.'
Six-year-old D Four Dave won the Hurley Family Kilbeggan Handicap Hurdle with ease, reportedly by seven lengths.
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|2014/02/16 01:07:42 AM|