As Royal Panda suddenly stopped trading at the end of January, it has brought with it a stark reminder to me about what happens to long term bets in this scenario.
All open bets that would have got settled after they stop trading (so end of Premiership Winner markets in Football) are void and the initial stake has been returned to me.
I've been hugely lucky though.......as this time round it was Man City that I'd backed at RP.....so it is well on its way to losing.......but now I get my sizeable stake back.......
In this case I have escaped what could have been a very big loss, as in July/Aug I'd backed Liverpool & Man City across a number of bookies/exchanges depending on the best odds available --- as I was very convinced that only these 2 teams had a chance this year of the title - and so it turns out that I now make much more profit that I had planned.
However, by pure luck it could have worked out the complete opposite and I would be sitting on a big loss.
I've learnt the lesson without the financial hit, so all beware of the fragility of bookies (& some small exchanges)......
Anyway.......HOORAY!!!!!
Royal Panda Has Stopped Trading
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stueytrader
- Posts: 877
- Joined: Tue Dec 15, 2015 6:47 pm
This kind of thing is exactly why I would never have any larger stake on a longer term bet with a smaller bookie, especially online.
I'd even think twice about doing long term bets with some slightly larger bookies. Keep to Betfair at least I can almost trust they will still be there and paying when it collects.
I'd even think twice about doing long term bets with some slightly larger bookies. Keep to Betfair at least I can almost trust they will still be there and paying when it collects.
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aidenrn810
- Posts: 68
- Joined: Tue Mar 14, 2017 12:10 pm
I did a new account offer, but yes they are a bit unknown. However, when I used an oddschecker comparison they came out with better odds they all other bookies & exchanges of 4/6 for City to win the Premier League pre-season.
Understand that Royal Panda will be unknown to Traders, but those that bet/gamble as well just a word of warning.
Understand that Royal Panda will be unknown to Traders, but those that bet/gamble as well just a word of warning.
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Archery1969
- Posts: 4478
- Joined: Thu Oct 24, 2019 8:25 am
I thought the title of this thread was referring to Prince Andrew.