Betfair has “hinted” it is mulling giving the profits that the Flutter-owned sportsbook made from a convicted fraudster back to his victims.
Betfair’s conciliatory hint, reported by The Guardian, comes after a UK High Court Judge hit ex-finance manager Andrew Morford with a two-year suspended sentence last week after he admitted to a £340,000 ($457,765) fraud against his former employer, Co-operative Development Services (CDS).
According to reports, Betfair gave Morford VIP status, offered him complimentary hospitality at sporting events, and allowed him to lose over £1m ($1.27m) over multiple years.
may have made £200,000 on wagers that the finagling financier lost
The Guardian cites betting records indicating Betfair may have made £200,000 ($269,220) on wagers that the finagling financier lost.
Housing charity CDS uncovered Morford’s fraud in 2024. A successful £575,000 ($774,372) civil claim brought by CDS against Morford was partially paid off by the defendant’s £100,000 ($134,594) pension and his 50% stake in a £110,000 ($148,133) home “he shares with his wife and daughter.”
Both CDS and gambling charity GamLearn are, according to reports, calling on Betfair to pony up the thousands of pounds the sportsbook made off of Morford. UK gambling firm SpreadEx, where Morford also racked up losses, has reportedly already pledged to return £45,000 ($60,582) to CDS.
Betfair’s hint of repayment, however, came in its statement that once Morford’s criminal case is wrapped up, the sportsbook’s “established divestment process” will examine the case.
Morford began using Betfair in 2005 and self-excluded on several occasions. At his trial last week, Judge Silas Reid stated that Morford’s gambling addiction was a “very significant mitigation factor” for handing out a lenient sentence.
In a victim statement submitted to court, CDS said that multiple gambling firms had “profited considerably” from bettors like Morford and questioned whether such brands had done enough to prevent it.
