Leeds tycoon sues Betfair for £1m after losing £1.5m to gambling addiction
A Leeds property tycoon is taking Betfair to court after losing £1.5 million over a decade of gambling. Lee Gibson claims the betting firm failed to protect him despite clear signs of addiction. His case, initially dismissed, will now be reheard at the Court of Appeal with a £1 million damages claim. Gibson, who built his wealth by buying and renovating student houses in Leeds, began betting in 2009. At first, he described gambling as 'enthralling and exciting'. But his losses grew rapidly—reaching £100,000 by 2012, £500,000 by 2015, and £1 million by early 2018.
Over ten years, he placed more than 30,000 bets, mostly on 'correct score' football markets. Some wagers exceeded £20,000. Betfair even assigned him a personal relationship manager and offered VIP perks, including hospitality. The company questioned Gibson under anti-money laundering rules in 2018. He explained his funds came from his property portfolio, which once included 16 rented houses. His account was finally closed in March 2019 when losses hit £1.5 million. Gibson’s legal team argues Betfair should have acted sooner. Barrister Yash Kulkarni KC claims the firm 'knew or ought to have known' about his addiction due to his betting patterns. A High Court judge initially rejected the case, but the Court of Appeal will now reconsider it.
The appeal will decide whether Betfair had a duty to intervene earlier. If successful, Gibson could recover up to £1 million in damages. The ruling may also set a precedent for how betting firms handle high-stakes customers showing signs of problem gambling.
