A BETFAIR TRAP?

[corbus]

Today I placed a couple of bets on a greek soccer match, it took the bets all right and then it went "suspended"...
after about an hour I got suspicious and went to the Betfair site to see whether it was suspended or what...
It was suspended as far as the betting was concerned, but the game was under way. So a damned TRAP, my trading became a straight bet and all I could do was praying that the match ended in my favour. Quite frightning...
Is it fair? Can anything be done in these cases?
Ennio

[LeTiss]

I guess you were hoping to trade out 'in play'?

Did Betfair state that this match would go 'in play'?

[freddy]

One of the things you have to get used to unfortunately, it all a part of the game,
if Betfair loose there live feed then they suspend the market. We have all lost out from that over the years i would imagine.

[rpadrela]

One of the things you have to get used to unfortunately, it all a part of the game,
if Betfair loose there live feed then they suspend the market. We have all lost out from that over the years i would imagine.

All bets are void when Betfair loses the feed and the market is suspended.

[freddy]

One of the things you have to get used to unfortunately, it all a part of the game,
if Betfair loose there live feed then they suspend the market. We have all lost out from that over the years i would imagine.

All bets are void when Betfair loses the feed and the market is suspended.

No if the O.P placed a bet pre kick off and wanted to close his trade in play and betfair then lost the feed, the original bet would still stand.

[fuzzer54]

Of course the bet stands, as it does when the site goes down and you are unable to trade out. Each time we open a trade we are making a bet, and we have to accept the inherent risk in that as an occupational hazard.
All the moaning, griping and nit-picking about exact shutdown times won't change that one iota. If, as one trader did, you have an open position which leaves you liable to a loss of £5,000, you just have to take it on the chin.
Presumably, if he's prepared to risk that kind of capital, he must have a bank many times bigger than that and he can recover those losses. If not, he stark-staring mad!

[CaerMyrddin]

I always close my positions 5 minutes before the off on football. Sometimes it's really tempting to open new ones, but security first!

[mister man]

two things missing from betfairs stance in these circumstances as per todays outage just before the kempton 5.30...

moral integrity...

its as easy to cancel bets as keep them for betfair, after all it is advertised as bet """"""IN PLAY""""", not bet in play most of the time, or bet in play unless we get technical difficulties, or maybe bet in play..

good luck all

[timsretreat]

My suggestion would be to all betfair traders to have a betdaq account so you can lay the trade with them. I know the market is not as liquid as betfair but better to make a small loss than a large one re: £5000. Hope this helps

[rubysglory]

IMO the best advice I have ever received is not to trade 'across' markets. Close out positions within one market (Pre Event) and reopen in another (Inplay) if you must but treat each as separate entities.

rg