“If we suspected one customer of defrauding another, we would close that person\’s account immediately, regardless of the wishes of the police or Jockey Club,” Ian Davies, Chief Executive of BackandLay.com, told the Racing Post after Betfair\’s decision to keep \’suspicious\’ accounts open attracted some negative comment on the exchange\’s forum.
“It\’s not for us to decide, without consulting our customers or gaining their permission, to use those customers\’ funds as \’bait\’ for a nebulous abstract concept like \’the greater good\’,” added Davies.
“Neither the police, who cannot guarantee to secure a conviction, or the Jockey Club are legally empowered to impose such an instruction upon a company,” he concluded.
Following the request of the racing authorities, Betfair decided to allow the accounts used by customers under suspicion of acting in a corrupt manner to remain active in order to assist an investigation by police and racing authorities.
Although Betdaq\’s Memorandum of Understanding with the Jockey Club is weighted slightly more to the anonymity and protection of customers than Betfair\’s, the Irish betting exchange would probably do the same as Betfair did.
“If we were asked specifically by the police or racing authorities to keep an account open, we probably wouldn\’t say no,” said Betdaq spokesman Russ Wiseman.
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