Betfair under fire

UK investors organisation, The Association of British Insurers, has set an “amber-top” alert to shareholders in online betting exchange Betfair.
The alert pertaining to the company’s long term incentive plan (LTIP) has been set amid concerns that the company’s annual report does not define the targets the company needs to reach before its executives are eligible to earn future awards/incentives.
A spokesman for Betfair said: “The company is still in discussions with the ABI. This is still a draft recommendation.”
In related news, The British Horseracing Authority along with bookmaker William Hill are reportedly seeking a judicial review on the Horserace Betting Levy Board’s (HBLB) decision not to impose levies on betting exchange users, such as Betfair customers.

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