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Unit 1 Micro: Malfunction in In-Race Betting Market

Geoff Riley

1st January 2012

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Bet Fair has built up an enviable reputation for running an efficient platform for in-race betting online. The platform gives punters the chance both to lay odds on a race and also to take a standard gamble on the result and the technology allows betting before and during the race. But events last week in Ireland have dealt a blow to the standing and reputation of the business as this Channel 4 news video amply demonstrates.

The company blames a technological hitch but as the dip in the share price shows, the stock market was quick to mark down Betfair shares as a consequence of the fierce criticisms of the standard of their customer services.

Betfair Share Price

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Geoff Riley

Geoff Riley FRSA has been teaching Economics for nearly forty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD and Revision conferences in the UK and overseas.

@tutor2uGeoff

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