Betfair.com Wins Court Case

A court case has been won by Betfair, which is a part of Sporting Exchange, the online gambling company against their former CEO of operations in Ireland. Although Betfair won this case they expect that Raymond Farrell the defendant in this case will be appealing.

The High Court in London where the details of the case were heard, that between the years of 2002 and 2004 Farrell had run Irelands online poker gambling for Betfair and while he did well in this position increasing profits in horseracing dramatically he is now a former employee. Betfair has said that part of Farrell's job was to collect money in the company's behalf and when Ferrell left his position as the head of operations in Ireland there were funds that he had not turned into the company.

The High Court ruled in favor of Betfair awarding them a sum of $127,994 and the company stated they would be pursuing the money they have been awarded in this case.

Raymond Ferrell has stated that when he began as head of the Ireland operation the company was making about $828,000 in sales per month and he raised this to an increase of close to seven million per month when he left his position.