"Historically you've had companies go bankrupt and companies sold – this is a partial sale, and without the engine of the company we need to wind up what's left.
"It's unusual and maybe that's why people have reacted as they have," he said. "But it doesn't change my perspective that what we did was the fair and equitable thing by all our customers. I'm sorry for those that feel that's not right, but we acted in the interest of trying to have a solution that's equal for everyone."Įxact details of BetBright's ante-post position cannot be provided as it is proprietary and commercial, said Ricci, but he did confirm vastly more punters stood to benefit rather than miss out from their decision to void and that liabilities in such markets were "small". Ricci himself took a lot of flak – in social and mainstream media – over the voiding of bets, and said of the 'goodwill' announcement: "It's a very nice gesture by them – they didn't buy the sports book – and it's great for the clients who have open bets with us. Leading owner Ricci, who has 15 Cheltenham Festival winners to his name, the latest of whom, Benie Des Dieux, is hotly fancied to score again next week, came on board for BetBright as executive chairman and business face of the bookmaker in 2016. However, with the story front-page news in the Racing Post and a number of complaints directed towards the Gambling Commission, 888 on Wednesday announced they would honour existing Cheltenham ante-post positions as a "gesture of goodwill". They were also told that unsettled multiple bets that have winning legs associated will be settled as a winning bet, with the remaining unsettled legs voided. On Monday it was revealed online gaming and betting company 888 had bought BetBright's sports betting platform for £15 million, with the bookmaker's brand not expected to continue, while on Tuesday BetBright customers were notified that all unsettled single bets will be voided.
Rich Ricci moved to set the record straight on Wednesday when claiming the shock closure of BetBright and voiding of all ante-post bets was the fairest solution on the table for the troubled bookmaker.
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