The “Betfair King” Jailed For 5 Years

Elliott Short, also known as (by him), “The Betfair King” was yesterday jailed for 5 years according to news sources.

Plenty within the Betfair trading world have been well aware of this individual for many years now and this news will come as no surprise to most.

The Metro reports

Elliott Short ‘lied through his teeth’ when said he had a system for making high returns on the betting website, said judge Peter Testar.

The 26-year-old was ‘potentially dangerous as far as the financial interests of others are concerned’, he added.

Short was ‘an accomplished confidence fraud trickster’ who dazzled investors with a chauffeur-driven Mercedes and plush Knightsbridge office.

But, despite promising one victim returns of £70,000 a month, very little cash was invested with Betfair.

Judge Testar added: ‘You deployed your charming personality to exploit that instinct in people to trust their fellow human beings. Having conned others you simply poured their money away on hiring helicopters, taking expensive holidays, spending thousands in bars, nightclubs and restaurants and thousands more in shops.’

Short bowed his head as the sentence was passed at Southwark crown court. He had ‘no assets and had some liabilities in relation to utility bills’, said prosecutor Mark Hick.

Short, of Chester, was convicted on nine counts of fraud and one count of making or supplying an article for use in fraud, after a five-week trial.

He convinced the News of the World he netted more than £21million from his betting system, a jury heard.

The now defunct tabloid printed a retraction after Betfair said the returns quoted were impossible.

Anyone who says they have a “guaranteed” way to make money like that on these markets is lying and should be avoided. The only way to make money on Betfair is by learning the markets yourself, learning and developing strategies by yourself and eventually finding an edge that works well for you.

It can take a lot of reading and hard work but there is no quick and easy route to success in life. Generally, if someone approaches you and says that all you have to do is give them some money and they will give you returns with no further strings attached then you should really be asking the question… Why?