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Punter Sues Coral Over Rangers Relegation Bet

Punter Sues Coral Over Rangers Relegation Bet

A bettor is suing the bookmaker Coral for refusing a £250,000 payout on his bet that Rangers would be relegated.

Albert Kinloch bet £100 at a branch of Coral just a few months before the club went bust and was removed from the SPL. He says that he was given odds of 2,500/1 and that the cashier who took his bet twice checked with superiors whether to accept it. He reportedly also asked for the call to be put on loudspeaker so that he could hear his wager being accepted.

Kinloch placed the bet in 2012 just a few months before the club announced it was going into administration and was deducted 10 points. It was then liquidated and a new company was formed but SPL clubs voted to relegate it to the bottom of Division Three. The bookmaker is arguing the club was demoted, not relegated. The case will continue this week.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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