Billionaire Gambler Tony Bloom Denies Owning Millions to Former Colleague
In a 17-page document filed with the high court, billionaire football club owner Tony Bloom has denied owing millions of dollars to his former colleague George Cottrell, who claims he is owed potentially £13.1 million.
According to the document, Bloom's syndicate had placed millions of pounds worth of bets through Cottrell's gambling accounts, but Cottrell says he was entitled to a 40% share of the winnings, not just for his own account but also for his colleague Ryan Dudfield. The dispute has shed light on the largely hidden operations of one of the world's most successful betting syndicates.
Bloom admits that he and Cottrell had an agreement under which winnings were due to be split between them, but claims that Dudfield was not entitled to any further share of the millions made from this arrangement. The billionaire denies owing Dudfield $17.5 million (£13.1 million) and says that Dudfield's claims are exaggerated.
The document also suggests that Cottrell had introduced his former boss to Bloom, who had made a fortune from gambling. The syndicate was entitled to a 60% share of the winnings, while Cottrell and Dudfield were entitled to 40%.
Bloom's defence says that Dudfield received a £60,000 "nuisance payment" to settle any claims he had against him in July 2023. However, Dudfield claims that this settlement did not resolve his dispute with Bloom, who denies owing him anything.
The court document also confirms that multiple apparent third parties were used by Bloom's syndicate to place bets through "exotic accounts", but there was no "standard practice" for how they operated and they were not referred to as "secret".
In a bizarre twist, the case has highlighted concerns about how high-stakes gamblers are often exploited by betting sites. Cottrell is a known high-roller, known as a "whale" who can place huge bets. The use of exotic accounts has raised questions about how this was allowed to happen.
Despite the complexities of the dispute, it appears that Bloom's defence relies heavily on the 2022 agreement between him and Dudfield, which may not have covered all of Cottrell's betting accounts. The court document confirms that just one account belonging to Cottrell was used before Dudfield "cashed out", while five others were used by Bloom only afterwards.
As the dispute rages on, it remains to be seen how this case will unfold and what the outcome will be for both parties involved.
In a 17-page document filed with the high court, billionaire football club owner Tony Bloom has denied owing millions of dollars to his former colleague George Cottrell, who claims he is owed potentially £13.1 million.
According to the document, Bloom's syndicate had placed millions of pounds worth of bets through Cottrell's gambling accounts, but Cottrell says he was entitled to a 40% share of the winnings, not just for his own account but also for his colleague Ryan Dudfield. The dispute has shed light on the largely hidden operations of one of the world's most successful betting syndicates.
Bloom admits that he and Cottrell had an agreement under which winnings were due to be split between them, but claims that Dudfield was not entitled to any further share of the millions made from this arrangement. The billionaire denies owing Dudfield $17.5 million (£13.1 million) and says that Dudfield's claims are exaggerated.
The document also suggests that Cottrell had introduced his former boss to Bloom, who had made a fortune from gambling. The syndicate was entitled to a 60% share of the winnings, while Cottrell and Dudfield were entitled to 40%.
Bloom's defence says that Dudfield received a £60,000 "nuisance payment" to settle any claims he had against him in July 2023. However, Dudfield claims that this settlement did not resolve his dispute with Bloom, who denies owing him anything.
The court document also confirms that multiple apparent third parties were used by Bloom's syndicate to place bets through "exotic accounts", but there was no "standard practice" for how they operated and they were not referred to as "secret".
In a bizarre twist, the case has highlighted concerns about how high-stakes gamblers are often exploited by betting sites. Cottrell is a known high-roller, known as a "whale" who can place huge bets. The use of exotic accounts has raised questions about how this was allowed to happen.
Despite the complexities of the dispute, it appears that Bloom's defence relies heavily on the 2022 agreement between him and Dudfield, which may not have covered all of Cottrell's betting accounts. The court document confirms that just one account belonging to Cottrell was used before Dudfield "cashed out", while five others were used by Bloom only afterwards.
As the dispute rages on, it remains to be seen how this case will unfold and what the outcome will be for both parties involved.