CHELTENHAM GOLD Cup-winning owner Harry Findlay’s six-month disqualification has been overturned on appeal and reduced to a €5,400 fine.

Findlay was last month handed the suspension by a British Horseracing Authority disciplinary panel for breaching rules against owners laying bets on their own horses and attended an appeal on Wednesday.

The well-known owner and gambler felt the punishment was out of proportion and after representing himself at the initial hearing, he brought in specialist lawyers to protest against the severity of the ban.

Findlay admitted two breaches of the rules about laying horses – involving Gullible Gordon at Exeter and Chepstow – with the bets being placed by one of his associates on Betfair, although he was a net backer, as he had placed more money on the horses to win than to lose.

The appeal panel, which is independent, felt unable to decide on the available evidence whether the Exeter lay bet was a mistake, as Findlay had said, and they concentrated on the race at Chepstow.

In this case, large back bets were placed first, followed by smaller lay bets in running as Findlay said he knew the riding tactics were to set off and make the running and he believed lay bets could be placed at odds more favourable to him.

The plan was to reduce his overall exposure to the level he deemed appropriate whilst producing a better financial result than simply placing a smaller back bet.

The strategy worked and produced a better result by almost €5,400.

A statement from the appeal board read: “It was not presented as other than a deliberate betting strategy in which the lay bets were a relatively small part of an overall back bet and in which no-one lost unfairly.

“The panel proceeded on that basis. There was no suggestion that the integrity of the race or Gullible Gordon’s running in it was in jeopardy.

“It is clear that Mr Findlay’s best financial interests lay in the horse winning.

“There was also the mitigation already mentioned, in particular, Mr Findlay’s full co-operation and the fact that it was Mr Findlay himself who drew the BHA’s attention to the Exeter race when interviewed concerning the Chepstow betting.”

In a statement issued through his solicitors, Findlay said: “After two minutes of listening to Sir Roger Buckley (who chaired the appeal board), I knew that I was shorter than 1.01 to get the disqualification overturned.

“He was so impressive. He was flanked by two other panellists who, like him, obviously had a thorough knowledge of the case and this is all I wanted.

“After the undoubtedly toughest four weeks of my life, I very nearly actually smiled when he spoke of a ‘gambler’s instinct’.”