The company was founded in 2000 by former City of London options traders Robert Byrne and Kevin Griffiths.
But it was alleged the turnover was being financed by the owners of Sporting Options using their own funds to create the liquidity.
By late 2004, it was alleged Sporting Options was in fact fraudulently financing its apparent liquidity by using funds from its own clients' account.
Any amount owing over and above this payout could be earned back though a commission rebate program, valid through to 30 November 2006.
that Betfair's apparent act of generosity was a bid to protect the reputation of the betting exchange industry, while simultaneously securing exclusive access to Sporting Options' clients.