Case about to go thru the High Court - PP/Betfair

[megarain]

This might be a real doozy.

power case bigger.jpg

[buyshirts]

I can hear your mind ticking from here " what sort of account profile does he have that he can get £13k EW bets on with PP at Wolverhampton of all places!"

[Naffman]

I can hear your mind ticking from here " what sort of account profile does he have that he can get £13k EW bets on with PP at Wolverhampton of all places!"

Really does make you realise how little money is on the exchange imo.

PP surely have no case here

[megarain]

One of the key things for me, is whethe the Palp rule gets questioned etc.

If companies cannot Palp - 260k is a drop in the bucket.

[Derek27]

I can hear your mind ticking from here " what sort of account profile does he have that he can get £13k EW bets on with PP at Wolverhampton of all places!"

A losing one, surely?

[wearthefoxhat]

One of the key things for me, is whethe the Palp rule gets questioned etc.

If companies cannot Palp - 260k is a drop in the bucket.

The Palp rule used to apply to a price incorrectly given on a selection. If PP had given him 100/1 then they could apply it at 16/1.

The part that doesn't make sense was that his account balance was orginally £203.

Did they credit his account with £26,000 before accepting the bet? (Even the £1,300 e/w stake begs the same question)

The piss-taking part from PP is they just expect the punter to roll over and accept anything they say.

[Crazyskier]

It appears that the telephonist made the error when agreeing with a trader that 13k each way could be approved, rather than the requested £1300.

Either way, PP accepted the bet; PP must honour it.

If the horse had been unplaced, would PP have refunded the £26k?

We all know the answer to that!

CS

[Tuco]

It appears that the telephonist made the error when agreeing with a trader that 13k each way could be approved, rather than the requested £1300.

Either way, PP accepted the bet; PP must honour it.

If the horse had been unplaced, would PP have refunded the £26k?

We all know the answer to that!

CS

...exactly! They want it both ways - a no lose win!

...they had time to correct the error before the off - after the off, bad luck, too late, bet stands.

Basically someone has re-listened to the phone conversation and sought a manager to see if they can welch paying out.

utterly disgusting and if I was the judge I would not only make them pay the bet in full, all costs and interest, but I would fine them £286k on top as a lesson to be honourable - or the manager can spend 10 years in jail, their choice!

[Geordie]

wearthefoxhat
The part that doesn't make sense was that his account balance was orginally £203.

I read that as £203 was the maximum stake allowed on his account, not his balance.

[Archery1969]

Its about time these betting companies were slapt with a massive fine.

£260,000 to the punter plus legal costs and £10 Million fine to be paid to retired Horse Racing charities.

[megarain]

A few more details from Day 1.

pp dispute 2.jpeg

He had 78k in his account, before losing 19k, so was clearly able to get lumpy bets.

Making a market for this would be like reality Tv.

Currently think : 1.7 he gets paid.

[firlandsfarm]

I would fine them £286k on top as a lesson to be honourable - or the manager can spend 10 years in jail, their choice!

I suspect PP would have the manager 'take one for the team'!!

[Tuco]

I would fine them £286k on top as a lesson to be honourable - or the manager can spend 10 years in jail, their choice!

I suspect PP would have the manager 'take one for the team'!!

...they would certainly ask the question to him even for a fraction of that amount

[megarain]

Todays proceedings :

Turns out PP hedged 17k of it (presumably on the Worlds leading exchange).

The fact they didnt hedge more, maybe helps PP - if a Judge can understand etc (Big price)

Female Judge now considering the verdict.

Dunno - good contest. Coin-flip ?

[xtrader16]

As far as I can see it only matter what bet was placed not what bet he asked for. The CSR read the bet back and he agreed to it. I think he will gat paid out and banned from Paddy Power forever.