Leopardstown - 14:00 - Christmas Hurdle - Voler la vedette

[Euler]

No, the back odds for Everton actually showed the word 'inifinity' never seen that before.

[CaerMyrddin]

Another betfair mistery!

Did you try backing it? With a two quid stake you would have infinite richess, should Everton win!

[Euler]

I've got the inplay data from this race now.

The horse was trading at 2.94 the moment before that quirky order at 29's arrived. The order arrived exactly 60 secs after the race had started. The first reported value was £21,473,588. Remarkably somebody nipped in front of that order 115 into the race with an order at 32's! Five times more something appeared in front of the order at 29's.

At the end of the race there was only £20,655,994 left at 29's.

[LeTiss]

That just shows how some people trade 'in play' without watching the TV screen, and just react to the market, either manually or with a bot

[Lagos]

Yes I had bets matched at 32, whoever matched them I assume has the cash to pay?

[steven1976]

Bolton are back! Infinity to back everton for the win were probably no where near generous enough. If anyone watched how poor everton were they would probably agree that in the end the class shone through.

[andyfuller]

My view is that in a week if not less but at most 2 the whole episode will be written down in the history that is Betfair. Things will get back to normal, we will all still use Betfair and their share price will rebound

This seems to have died a death now. Betfair have effectively shut up shop with press releases about it despite their promises to give more information than they have. As such the media haven't anything new to say about it so it has just been forgotten about.

The share price gave a good trading opportunity, as it fully recovered in a matter of days to pre Christmas Hurdle levels.

[psycho040253]

It's a pity that companies like Betfair continue to exist. They treat customers the way they do because customers let them. The only way to deal with Betfair is to leave and go to Betdaq en-masse. Then, they would have to listen to their customers. I left Betfair for Betdaq when they introduced premium charges and I haven't been back since. Yes, there are Betdaq liquidity issues but they are slowly improving - which is more than can be said for Betfair.

Someone on this forum suggested that we shouldn't bite the hand that feeds us. My question is, who is feeding who?

I've also spent many an hour analysing this 'ere problem. No matter how I analyse it, it keeps on coming back to the fact that the issue was caused by a malfunctioning Betfair bot. Nothing else makes much sense.

I would like to use Betfair again, or at least have the option. Sadly, because of issues like this .....

Psycho

[Euler]

I sort of knew that apathy would rule the day again, unfortunately. So I went long on Betfair when the shares were plunging. We may be a bit resigned to this way of doing business but at least it can show up the odd opportunity!

[psycho040253]

I sort of knew that apathy would rule the day again, unfortunately. So I went long on Betfair when the shares were plunging. We may be a bit resigned to this way of doing business but at least it can show up the odd opportunity!

Well done. At least someone got something out of this sorry mess.

Psycho

[Euler]

Dear Peter,
Since the 2.00pm race at Leopardstown on 28 December 2011, we've looked in detail at all the circumstances surrounding the technology failure and the anomaly it created. In addition, we provided our Gibraltar regulator, the Gibraltar Gambling Commissioner (GGC), with a detailed technical and operational report on the incident and the GGC made a number of recommendations. We have also consulted with customers and taken their feedback on board.
Accordingly, we have reviewed our decision to void all in-running bets matched on the race and, in the interests of fairness, certain categories of voided bets will be compensated by way of ex gratia payments from Betfair. This compensation complies with, and goes beyond, the GGC's recommendations.
The categories of bets that will be compensated are:
1. In-play winning positions in both the 'win' and the 'to be placed' markets which were achieved before the technology failure; and
2. In-play winning positions in the 'to be placed' market achieved at any time through to the completion of the race.
Bets matched in the 'win' market after the technology failure will remain void.
As your bets were placed in one of the two categories described above, a payment reflecting your winnings had the relevant bets not been voided, will be made to your Betfair account today.
Once again we would like to apologise for the inconvenience caused, and the time taken to reach this outcome. We do thank you for your continued support and remain committed to providing you with the best betting proposition possible.
Regards,
The Betfair Racing team

[andyfuller]

Thought you had missed the race Peter?

Bloody hell, I missed that. I was on the race but we have about 12 people here today and I am in and out of the study trying to trade while making the odd appearance in the next room. I was on the race but missed this, was it in running?

[Euler]

Missed the in-running element of the race, any bets would have been just to tidy up the pre-off stuff.

[Iron]

It would be interesting to know who the payment came from - Betfair themselves, or the guy(s) your bet was matched against.

If it's the latter, I'd be a bit annoyed with Betfair if they'd told me unsuccessful bets I'd placed had been voided, only to decide I was liable after all!

Jeff

[andyfuller]

Not sure who they consulted with customer'wise? I never heard from them!