Betfair not paying out in US election race

[stevequal]

http://www.telegraph.co.uk/finance/comm ... -race.html

Interesting article, but mainly because as Betfair is an exchange, I don't really understand what they mean by won't pay out?

[Euler]

Hadn't heard of this, but found these after reading this thread: -

http://www7.politicalbetting.com/index. ... awks-cafe/

http://community.betfair.com/politics/g ... a-pay-outs

http://community.betfair.com/politics/g ... id-betfair

[Euler]

I don't really understand what they mean by won't pay out?

People think they have settled incorrectly by the look of it.

[stevequal]

Ah, I see. Just seems odd when the major bookies have paid out.

[spreadbetting]

Seems ridulous they're not paying out, unless they've covered themselves in the market info t&c's like the situation for F1 podium places surely they won't have a leg to stand on.

Can't imagaine the market even turned over large amounts and no doubt they'd just resettle the market for any traders rather than ensuring they got paid twice so won't even cost them much.