Betfair Offers Sporting Option Rescue Package

UNITED KINGDOM – As reported by the ic Newcastle: "Betfair, the leading online betting exchange, has launched a rescue package for Sporting Options' customers who have lost money as a result of that company going into administration.

"This means 5,000 of the 5,300 Sporting Options' customers owed money could be compensated in full in the next few days. The package has been agreed with Sporting Options' administrator and approved by Betfair's board of directors.

"…Sporting Options customers with up to £1,000 in their account will have the amount they are owed credited to their Betfair account, if they have one.

"Customers of Sporting Options, who do not have a Betfair account, will be required to open one and pass the standard Know Your Customer checks, which involves supplying two separate forms of ID and a bank account or card details…"