Racing: Aussie bookmaker Waterhouse in strife

Australian bookmaker Robbie Waterhouse faces a possible life ban and fines of up to $A1.2 million ($NZ1.46 million) after being found guilty yesterday of charges relating to bets he wrote at inflated prices.

Thoroughbred Racing Board stewards ruled that 500-1 bets he recorded in Sydney in February were not legitimate wagers.

Waterhouse had returned to the betting ring only last August after a 17-year absence following the infamous Fine Cotton ring-in scandal.