Betfred Slammed For Not Honoring Olympic Bet

This story was published more than 11 years ago.

UK based betting site Betfred is catching a lot of flak for its decision not to honor a bet that a British Olympian's grandmother placed on him during the recent games in London.

The row began after British gymnast Sam Oldham's grandmother Linda Aldred bet on her grandson to win a medal during the Olympics. She placed a £5 bet on him to win a medal with 200 to 1 odds. She apparently won the bet when Oldham and his team won a bronze medal in the competition.

That was until Betfred refused to pay.

The betting firm said they would not pay out because her grandson won the medal during a team competition, not an individual event.

Betfred has been slammed in the British media for not honoring the bet, which makes one wonder if the bad press they are receiving over the issue may be more costly than paying out the bet.

Update: after much public outcry Betfred has made the sensible decision to pay the winning bet.