Wrongly void bet costing me £300. Looking for advice

[MeganTullis]

Hey guys,

I hope it’s okay to post this here, I really need advice from anybody in the know or who has experienced a similar issue.

My problem is regarding an exchange bet I made yesterday on the Crystal Palace vs Brighton match, I cashed out this bet for a little over £290, yet after the match my bet was wrongly void and my winnings remained outside of my account. But I have screenshot evidence proving I cashed out.

Specifically speaking, around 5 minutes into the match I placed a bet staking £359.84 at odds of 2.02, the bet was for Crystal Palace and it was draw no bet. You can see all of this via the link below.

https://i.imgur.com/OZHCX8B.png

Right before half time Crystal Palace scored a penalty and seconds later I decided to cash out.

I set auto cash out to £290 profit and saw this confirmed as successful. However once the game was over my bet was made void and my winnings were not deposited.

https://i.imgur.com/hULAi2C.jpg

Right after I cashed out you can see that my liability is £0 and that I’m winning on either outcome (the score line hadn’t updated yet but the prices had) Also the balance in my account is £1059.84 which as shown below wouldn’t have been possible if I hadn’t cashed out.

The next image is of my transaction history. Note that the balance in my account is £1078.36, and that I won £18.52 on another bet on the same match (this bet was made after I cashed out) So minus the £18.52 my total balance would come to £1059.84, the same amount as after I cashed out and my liability had been returned.

https://i.imgur.com/jmwg0FG.png

I spoke to customer services and they referred me to
their Escalation Management Team who sent me the following email

‘We are getting in touch with you in regards to an Exchange bet placed on the recent Crystal Palace v Brighton match.

Our Exchange team has reviewed this market, and they have confirmed that no attempted or successful cash outs have been recorded on our system. This bet was also correctly voided as the match ended in a draw, and the market in this case was a Draw No Bet one.’

Clearly the screenshots prove that this is a load of crap. I’m unsure what to do now. Does anyone have any similar experiences? Do you think I have enough to get my money back? Any feedback would be greatly appreciated.

[Kai]

Hi Megan

Sorry to say but Draw No Bet in a nutshell means that if the match ends in a draw, like this particular match did (Palace 1-1 Brighton FT) then all bets are void.

It's written in all caps in the rules on this very market. I suggest to use the Match Odds market instead for trading, should get better prices there.

[MeganTullis]

Right… forgive me if I’m wrong (I am fairly new at betting in general let alone on the exchange) but then what is the point is offering a cash out on any draw no bet matches?

[Kai]

Right… forgive me if I’m wrong (I am fairly new at betting in general let alone on the exchange) but then what is the point is offering a cash out on any draw no bet matches?

Using the "cash out" feature would mean that you are indeed cashing out of the market by hedging your bets and evening out your profit across all selections in almost every market, but the Draw No Bet market has different rules. And the market will only settle all bets once the market ends, or void those bets if the rules say so. If you manage to get a profit on this market and you cashout/hedge that profit across both selections then you still have to hope the match doesn't end in a draw result, or all bets will be void, including your bets.

In other words, it's a silly market, for trading especially. It's for those who just want to predict the winner so the draw selection gets in the way of that.

Which is why it's important to read the market rules before placing bets on it, you can find the rules button just above the market itself. You would get your profit if either Palace or Brighton went on to win the match, but at least you didn't lose anything

[Jim Royle]

Right… forgive me if I’m wrong (I am fairly new at betting in general let alone on the exchange) but then what is the point is offering a cash out on any draw no bet matches?

In a nutshell the market is voided if the match is a draw , the idea of offering you a cashout is that Betfair ( or anyone for that matter ) doesnt knows the game is going to be a draw or not till the final whistle blows but just in case its not a draw you have a healthy return with a positive result

[MeganTullis]

Okay I see where I’ve gone wrong, thanks to you both for your explanations, especially to such a rookie mistake. The 95th minute equaliser has just become very retrospectively painful lol. But you’re right Kai, at least I didn’t lose anything.

[Derek27]

Okay I see where I’ve gone wrong, thanks to you both for your explanations, especially to such a rookie mistake. The 95th minute equaliser has just become very retrospectively painful lol. But you’re right Kai, at least I didn’t lose anything.

If it's any comfort, we were all novices once and have made cock-ups in the early days.

As Kai alluded to, make sure you thoroughly read the rules to any new market that you decide to trade. The most graphic example is the US Presidential Election 2020 market that attracted non-gamblers in their thousands to gamble 5-figure sums, and even the more seasoned traders weren't certain about the rules.

[Kai]

The 95th minute equaliser has just become very retrospectively painful lol. But you’re right Kai, at least I didn’t lose anything.

No worries, reading this thread will cheer you up, in more ways than one : viewtopic.php?f=6&t=24397

[Derek27]

The 95th minute equaliser has just become very retrospectively painful lol. But you’re right Kai, at least I didn’t lose anything.

No worries, reading this thread will cheer you up, in more ways than one : viewtopic.php?f=6&t=24397

This thread will go down in Bet Angel folklore. Destined for resurrection time and time again. What an incredible run of bad luck for the OP!

That didn't take long. I think I'll add a link to the thread in my Martingale meme.

[Kai]

The 95th minute equaliser has just become very retrospectively painful lol. But you’re right Kai, at least I didn’t lose anything.

No worries, reading this thread will cheer you up, in more ways than one : viewtopic.php?f=6&t=24397

This thread will go down in Bet Angel folklore. Destined for resurrection time and time again. What an incredible run of bad luck for the OP!

That didn't take long. I think I'll add a link to the thread in my Martingale meme.

You could put the link in your forum signature, if the forum had them

I guess the mods thought people would abuse them to shamelessly plug their stuff so they disabled it

[Derek27]

No worries, reading this thread will cheer you up, in more ways than one : viewtopic.php?f=6&t=24397

This thread will go down in Bet Angel folklore. Destined for resurrection time and time again. What an incredible run of bad luck for the OP!

That didn't take long. I think I'll add a link to the thread in my Martingale meme.

You could put the link in your forum signature, if the forum had them

I guess the mods thought people would abuse them to shamelessly plug their stuff so they disabled it

When you've posted 12,000 times to a forum, you don't need a signature, you just post.