The company Betfred, which allows people to place bets on sporting events, has made an announcement that a refund will be issued on all ante-post bets on the horse racing champion Binocular. A recent announcement was issued stating that the winner of last year’s horse race, the Champion Hurdle, was going to be withdrawn.

To be fair to his customers Fred Done has chosen to give this refund and has included multiple bets in his refund decision. Clients had chosen the horse Binocular to win based on the fact that he won the race last year.

Certainly bookmaker Fred Done will intend for this to be the only refund he has to make this year. He has made a guarantee that if the new favorite Cue Card is the winner then he will return all losing singles,  taking a risk of losing additional profits for this year’s race.