BUSINESS

Snooker players not guilty; Betfair cash out sees transaction number one million

TAGs: Betfair, Snooker

SnookerThe World Professional Billiards and Snooker Association (WPBSA) have found two players not guilty after an investigation into suspicious betting patterns on one match. Snooker’s world governing body began an inquiry after a match between Jimmy Michie and Marcus Campbell in January saw a number of bookies suspend betting. The WPBSA had promised to leave no stone unturned meaning that we should be able to say that this case is now closed.

The statement read, “The investigation has concluded that while there were irregular betting patterns on the match, there is currently no evidence to link the betting to either of the players involved. Therefore no regulatory action will be taken by the governing body against the players.”

It’s the second high-profile case to affect the sport where the fixing of matches for monetary gain has been involved. The previous case saw John Higgins banned for six months and this one saw Michie’s 20-year career come to a close as he retired shortly after the accusations surfaced.

Betfair has seen its “cash out” feature used for the millionth time. It was introduced in February and allows customers to trade out of positions while an event is ongoing. It’s currently available on football and tennis. The tool works by automatically working out how much profit a customer can bank at any given time. It allows customers to secure profit before the end of game nerves kick in and the most popular time to “cash out” is identified as the 80th minute of a football match. The company intends to roll the tool out across a number of new markets in the future in addition to their mobile platform.

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