Gambling on horses..tut,tut,tut.

Champion jockey Kieran Fallon finds himself in some difficulty ,apparently because he managed to win (his horse ,that is ) 5 out of 17 races that a gambling syndicate had bet on him to lose.This new idea where it is possible to effectivly bet on a horse to lose rather than win needs some clarification.
So called bookmakers Betfair run a gambling operation which I can only compare to the stock market carry-on known as Contracts for Difference.With Betfair a person, (provided they have the appropiate dosh) can decide to offer to third parties good odds , on well-fancied horses,way above the odds they would be offered from the ordinary bookmaker,it goes something like this;Joe Bloggs knows that a certain horse (say, ridden by the champion jockey) will be on offer @ say, 2 to 1....Joe B. ,having come to an ''arrangement'' with the jockey,offers 3 to 1,lodges ,for argument sake , 150,000 (any currency) with Betfair,takes bets from the punters up to 50,ooo,knowing of course that the jockey will endevour to 'lose' the race.
Good -old -Joe B ,picks up 50 grand gets his own 150 grand back (less a small 'commission') from Betfair...and everyone's a winna......except those who lost , of course.
I hope you are following all this ....I'll be asking questions later..

Kieran Fallon's further problem arises because the races that he (apparently) won by 'accident' cost his co -conspiritors up to 500,000 , and he was obliged to 'make good' the shortfall , presumably by 'losing' other races for them.....he would not get his 'cut' until this was done....geddit!!!!!
This case could go on for up to 5 MONTHS......and the jockey who (with the help of a horse) won last Sunday's Arc de Triomphe horse race , will have to wait the outcome....I now hear that mobile phone information is not going to help Fallon's case...more anon....
No no ...just one more thing before I go...one example given says that on one occasion the syndicate put down 100,ooo with Betfair to win ,as they thought,a guaranteed 12,000....