ELLIOTT SHORT

LAST Sunday, we published a story claiming sacked City trader Elliott Short, 22, had won £20 million in a year betting on horses.

Short said he had won the money by taking bets from punters at online betting exchange Betfair.

Betfair, while not commenting on individual accounts, say Mr Short's claims were inaccurate and the News of the World was misled.

While the information was published in good faith and efforts were made to verify the story, our journalism fell below the high standards readers are entitled to expect, in particular the failure to check the story more thoroughly with Betfair.

We regret that error and apologise to readers.

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