Betfair the Masonic Lodge

The relationship between William Hill and the betting exchanges has not been a good one. On January 29, 2003, David Harding on the subject of Betfair’s impact on the the over-round said- “Some racecourse markets now return overrounds of only 1.2 to 1.3 per cent per runner. That is not sustainable. I cannot have a price mechanism for 50% of my business being desecrated.

In a recent interview with Betview magazine Ralph Topping, Hills’ current head had this to say of Betfair-

“‘I call Betfair the choirboys of the betting industry – “look at us we’re so innocent” – actually the exchanges are the biggest Masonic lodge there is.   They’re a massive secret society where illegal gambling is taking place. What would throw a spanner in the works is if William Hill came up with an exchange model which could be offered in our betting shops or through our telephone business.”

A fascinating portrayal of one of the most transparent betting companies in the world.

EDITOR&#8217-S NOTE: BetFair&#8217-s Mark Davies has his own take on the Topping statement.