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Paddy Power cleared disputed £26,000 bet thinking punter was chasing losses
A bet of £26,000 was accepted by a member of Paddy Power's trading team because he believed the customer was chasing his losses, the High Court heard on Tuesday.
The revelation came during evidence in a hearing to determine whether the firm must pay £286,000 in winnings to the punter, James Longley, who phoned up to ask for £1,300 each-way on an eventual winner in September 2019, a bet that was mistakenly relayed at ten times its size by a Dial-A-Bet phone operator.
The court did not hear from the senior trader in question, who is based in Ireland, with Longley's legal team saying they could not compel him to attend. But in an email he sent to a colleague in the days after the bet, the trader evidently admitted he was "guilty of massively overlaying a horse" and had done so in part because "the customer appeared to be chasing".
The excerpts were read out by Longley's barrister Mark James as he questioned the only witness produced by the defence, a relationship manager who has since left Paddy Power and said he was "just a middle man" and could offer little evidence as to trading decisions. He had not seen the relevant email before but its accuracy was not challenged by the defence.
Punter sues Paddy Power over disputed £286,000 winning bet at Wolverhampton (Members' Club)
Longley, a multi-millionaire through the sale of his company, said he had made a net loss on his Paddy Power account of £106,000 since he became a regular gambler in 2013. On the day in question, he had around £78,000 in the account initially but lost around £19,000 before seeking the bet in question, on Redemptive at Wolverhampton.
A recording of the relevant phone conversations was played in court, a Malta-based phone operator telling Longley his account limit was £203 and offering to call a trader to authorise his bet. The court then heard her describe the bet to a more junior trader as £13,000 each-way. After consulting with the senior trader, the junior trader said the bet had been authorised.
Returning to her call with Longley, the operator told him: "So that's going to be twenty-six thousand coming from [account name], is that correct?" Longley replied: "Yeah, that's it, yeah."
Paddy Power's barrister, Kajetan Wandowicz, stopped short of accusing Longley of lying but said the punter's memory of events had, over the intervening months, been "reinvented through the prism of feeling he had been wronged". He put it to Longley that he would not have responded so casually if he had in fact realised he was being allowed a bet ten times larger than he had sought.
"You're wrapping up the call, going through the motions of placing your bet," said Wandowicz.
"She said £26,000 to me and I accepted that," responded Longley. "I wasn't aware how they got to that figure and why. But they did."
Wandowicz put it to Longley that, had Redemptive finished unplaced, he could have called the firm to insist he had only intended to stake £1,300 each-way and been refunded. Longley said he had no such intention, adding: "I think it's a very dangerous strategy."
The hearing continues, with legal argument scheduled for Wednesday.
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