Man who blew £1.5m on football wagers sues Betfair

A multimillionaire “problem gambler” who blew nearly £1.5m on football wagers is suing Betfair for his money back in a landmark case, claiming it was under a duty to protect him from himself.

- PAUL KEOGH

Buy-to-let property tycoon Lee Gibson told a court he placed more than 30,000 individual wagers through betting exchange Betfair during a “prolific” gambling period between 2009 and 2019.

Although he said he initially found it “enthralling and exciting”, his losses became “unsustainable”, and in March 2019, his account was suspended for good.

Mr Gibson, 47, of Leeds, went on to sue Betfair, the world’s largest betting exchange, alleging that it should have known he was a “problem gambler” and was under a duty to stop him sooner.

The case was rejected by a High Court judge last year, but his bid for about £1m in damages has now gone on to be heard this week by three top judges at the Court of Appeal.

Lawyers say the case could have huge ramifications for the online betting industry as it will clarify what duties online betting companies owe to gamblers.

His barrister, Yash Kulkarni KC, said Mr Gibson’s betting was focused on the tricky “correct score” football markets, sometimes in “obscure” games and in sums up to £20,000.

He said the judge should have found that Betfair “knew or ought to have known” that Mr Gibson was a “problem gambler” and that, because it treated him as a VIP with his own individual “relationship manager”, it had assumed a duty to look after him properly.

“The evidence showed that Betfair knew or had information available to them showing that Mr Gibson was chasing his losses, had borrowed money or sold something to gamble, and was gambling at a level beyond that which he could afford from his income after tax and expenses,” he said.

The court heard Mr Gibson, despite leaving school at 16, had made himself a multimillionaire by buying and renovating properties in the Leeds area.

At its highest, his portfolio included 16 houses, which were rented to students, but some were later sold or remortgaged as his losses piled up.