I doubt very much that you have read the Gambling Act 2005, much of which is irrelevant in this instance as it covers casinos, lotteries, games of random chance, gaming machines and licensing. Section 9 deals with betting and Section 42 deals with ‘cheating’. Nowhere does it define using inside information as ‘cheating’ and the definition is the word’s “normal, everyday meaning”. You reckon that means that me and my mates should all be in trouble for using inside information to clean up on horses that have been set up for big races. Go and have a look at the 2017 Stewards’ Cup at Goodwood. It was won by Lancelot Du Lac with Frankie Dettori aboard at 25/1. We had all backed it at 40/1 and 33/1 weeks before the race because someone that worked in the Dean Ivory yard had told us that the horse was being trained specifically for the race and they had already got Dettori to agree to ride it. If it had lost then we would have done our money. There was no cheating. The race was not fixed.
Sounds quite different to an event where an outcome had already been decided but wasn’t yet known to the general public. But the long post is appreciated.
So if I know the identity of the next England manager the night before it is going to be announced and I put a bet on it, you think something illegal is happening?
