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Court hears ‘mug-punter’ racehorse owner was ‘lured’ into betting with firm before running up debts of £1.65m
Peter Swann, who also used to own Scunthorpe United, is embroiled in a legal battle with the now defunct Apollo Bookmakers
Peter Swann: wagered approximately £20 million on credit with Apollo Bookmakers
Peter Swann: wagered approximately £20 million on credit with Apollo Bookmakers
Credit: Laura Green
A multi-millionaire racehorse owner is seeking to have a deed enforcing a gambling debt thrown out and to receive damages from a bookmaker for allegedly failing to show him a reasonable duty of care.
Peter Swann, 62, accrued gambling debts of £1.647 million on credit with Apollo Bookmakers, despite the firm running no credit checks, failing to agree a credit limit and not being permitted to provide credit betting services. The bookmaker ceased trading in 2019.
At a hearing in London on Monday, a court was told that Swann had been “lured” into betting with Apollo by another gambler, Terry Edwards, who acted as a commission agent for the bookmaker in order to clear his own debts.
Before opening an account with Apollo, Swann bet solely on a deposit basis with Ladbrokes, with whom his accumulated losses over a ten-year period were approximately £5m.
Apollo owner Glen Garton allegedly acquired information about Swann’s betting, determining he was a “mug punter” who frequently lost large amounts of money and that he would consequently seek to take his business.
Swann’s barrister, Rowan Pennington-Benton, said: “Mr Swann was lured to gamble with Apollo by Mr Edwards. Mr Glen Garton knew of Mr Swann’s position with Ladbrokes as he had access to it from people he knew in the industry. Mr Edwards identified Mr Swann as someone who bets big and loses – a mug punter.
“Mr Edwards was a significant gambler and he had run up debt with Mr Garton on credit without any proper credit checks or controls. When it came to paying his debt, Mr Garton suggested finding a high-staking punter for Apollo and he would be able to take ten per cent of the losses. In 2014, Mr Edwards meets Mr Swann and persuades him to meet Mr Garton.”
Sands Of Mali defeats Harry Angel to win the Group 1 QIPCO British Champions Sprint
Peter Swann owned horses such as Sands Of Mali through the Cool Silk Partnership
Credit: Edward Whitaker
'Wildly out of control'
Swann, who was described as having a gambling problem, self-excluded from Ladbrokes between April 2017 and August 2018 but continued to bet with Apollo, during which time his wagering went “wildly out of control”, according to Pennington-Benton, who estimated the owner bet approximately £20m on credit during the course of his time with Apollo.
Apollo and Swann subsequently entered into a deed where they agreed the owner would pay £420,000 of his £1.647m gambling debt, with the remainder forgiven. However, the owner states the deed is void and unenforceable as the betting offered was illegal and that Apollo failed to show him appropriate duty of care.
When Andrew Hochhauser KC, sitting as the judge, queried why Apollo would do this, Pennington-Benton indicated it was likely to ensure the bookmaker received some payment, with Swann having made clear he had difficulties settling the entire amount.
Monday’s hearing did not include any statements by the defence, with Garton debarred from doing so having dis-instructed his legal team in September because, according to Pennington-Benton, he said that it “was no longer worth” taking part.
The court was told that the defence maintained Swann had been given a £2m credit limit and had been informed of this, and that he was required to clear any debt every two weeks.
The defence also argues it did not provide credit as no money was extended, rather, two parties agreed to an outcome of a set event, with one owing the other payment depending on the result.
Swann, the former owner of Scunthorpe United Football Club, is a longtime owner in racing through the Cool Silk Partnership, who have raced the likes of Group 1-winning sprinter Sands Of Mali and Royal Ascot winner Prince Of Lir.
The hearing is scheduled to conclude on Tuesday.
Peter Swann, who also used to own Scunthorpe United, is embroiled in a legal battle with the now defunct Apollo Bookmakers
Peter Swann: wagered approximately £20 million on credit with Apollo Bookmakers
Peter Swann: wagered approximately £20 million on credit with Apollo Bookmakers
Credit: Laura Green
A multi-millionaire racehorse owner is seeking to have a deed enforcing a gambling debt thrown out and to receive damages from a bookmaker for allegedly failing to show him a reasonable duty of care.
Peter Swann, 62, accrued gambling debts of £1.647 million on credit with Apollo Bookmakers, despite the firm running no credit checks, failing to agree a credit limit and not being permitted to provide credit betting services. The bookmaker ceased trading in 2019.
At a hearing in London on Monday, a court was told that Swann had been “lured” into betting with Apollo by another gambler, Terry Edwards, who acted as a commission agent for the bookmaker in order to clear his own debts.
Before opening an account with Apollo, Swann bet solely on a deposit basis with Ladbrokes, with whom his accumulated losses over a ten-year period were approximately £5m.
Apollo owner Glen Garton allegedly acquired information about Swann’s betting, determining he was a “mug punter” who frequently lost large amounts of money and that he would consequently seek to take his business.
Swann’s barrister, Rowan Pennington-Benton, said: “Mr Swann was lured to gamble with Apollo by Mr Edwards. Mr Glen Garton knew of Mr Swann’s position with Ladbrokes as he had access to it from people he knew in the industry. Mr Edwards identified Mr Swann as someone who bets big and loses – a mug punter.
“Mr Edwards was a significant gambler and he had run up debt with Mr Garton on credit without any proper credit checks or controls. When it came to paying his debt, Mr Garton suggested finding a high-staking punter for Apollo and he would be able to take ten per cent of the losses. In 2014, Mr Edwards meets Mr Swann and persuades him to meet Mr Garton.”
Sands Of Mali defeats Harry Angel to win the Group 1 QIPCO British Champions Sprint
Peter Swann owned horses such as Sands Of Mali through the Cool Silk Partnership
Credit: Edward Whitaker
'Wildly out of control'
Swann, who was described as having a gambling problem, self-excluded from Ladbrokes between April 2017 and August 2018 but continued to bet with Apollo, during which time his wagering went “wildly out of control”, according to Pennington-Benton, who estimated the owner bet approximately £20m on credit during the course of his time with Apollo.
Apollo and Swann subsequently entered into a deed where they agreed the owner would pay £420,000 of his £1.647m gambling debt, with the remainder forgiven. However, the owner states the deed is void and unenforceable as the betting offered was illegal and that Apollo failed to show him appropriate duty of care.
When Andrew Hochhauser KC, sitting as the judge, queried why Apollo would do this, Pennington-Benton indicated it was likely to ensure the bookmaker received some payment, with Swann having made clear he had difficulties settling the entire amount.
Monday’s hearing did not include any statements by the defence, with Garton debarred from doing so having dis-instructed his legal team in September because, according to Pennington-Benton, he said that it “was no longer worth” taking part.
The court was told that the defence maintained Swann had been given a £2m credit limit and had been informed of this, and that he was required to clear any debt every two weeks.
The defence also argues it did not provide credit as no money was extended, rather, two parties agreed to an outcome of a set event, with one owing the other payment depending on the result.
Swann, the former owner of Scunthorpe United Football Club, is a longtime owner in racing through the Cool Silk Partnership, who have raced the likes of Group 1-winning sprinter Sands Of Mali and Royal Ascot winner Prince Of Lir.
The hearing is scheduled to conclude on Tuesday.
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the curse of unlimited credit gambling with a 'mug' punter.
He made a complete pigs ear of running Scunthorpe as well. They ended up in National League North primarily because of him. He had a reputation as a "sacker" including sacking Graham Alexander when they were in 5th place in L1.
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