The son of Alastair Campbell, a former journalist turned political advisor, is in trouble over a betting syndicate that went bust, leaving investors short of millions worth of dollars
Rory Campbell, 37, the son of prominent political advisor Alistair Campbell, is reportedly in a hot mess over his failure to recoup investors’ money after bookmakers failed to pay out winnings, The Daily Mail originally reported.
Betting Syndicate Falls Through Over Owed Payments
By turning to bookmakers in Asia, Campbell leveraged his financial and sports betting prowess to secure better odds and potential payouts for what totaled $6.26 million (£5 million) worth of wagers. However, the bookmakers failed to honor their payments, leaving the syndicate in “the hole.”
Why Campbell Jr. is said to have entrusted seven-figure sums to bookmakers that are potentially not regulated and have a much worse track record than homegrown companies regulated by the UK Gambling Commission remains unclear, but potentially, he may have been looking for the best odds.
Matters potentially got worse after Campbell asked his legal team to assure the investors in the betting fund that they would all be receiving their money back, but he was never able to muster the funds, with the case now referred to the police according to the publication.
Campbell, son, has been a passionate risk-taker, but one who has leveraged his knowledge of statistics and mathematics to get ahead. He spent some time working for soccer clubs in the UK as a data analyst but then decided to set up a syndicate of his own and accept wagers from punters, offering to place the money for them at the best possible outcomes, and thus generate profit.
At least 50 people are said to have spent money with Campbell on making this a reality, and the size of the wagers varied from $12,500 (£10,000) to $627,000 (£500,000).
According to The Daily Mail, Campbell insisted that the syndicate was sound and there was no financial loss to be feared, despite delays, although at a later date in mid-2024, he confirmed that only half of all funds would be restored to investors.
Investors Seeking Justice with Law Enforcement
Some 20 investors have compiled the aforementioned dossier that has been referred to the police. According to investors who spoke with the publication, Campbell promised that no more than 5% of the money could ever be lost and that he was going to make sure that was the case by managing the risk in the best possible way.
Campbell’s team has already responded, arguing that the coverage was not entirely factual and produced from multiple points of view that tried to explain a “complex set of issues” which were understood to be confidential negotiations.
For what is worth, nothing in Campbell’s behavior suggests that he had acted in bad faith. Rather, the bookmakers he picked may have been the ones to ultimately blame. The Daily Mail’s reporting ought to be taken with a grain of salt.
