Random Market Closure (Full Days Profit Lost).

The sport of kings.
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Guisquets
Posts: 5
Joined: Sun Mar 30, 2014 3:12 am

Hello, just joined up on here to disuss whether Betfair are allowed to do the following...

Been trading all day since early afternoon, up & down day with a strong finish sitting with a 100% ROI on allocated stake and profit representing just over 2% of my starting bankroll, which I was very pleased with after the hours I'd put in.

So I was trading the Penn (USA) 02:37 race and had traded myself to a position in the market where I could successfully hedge across the board for a 16.5% return on stake allocated. Got a good 12 minutes before post time so my green up bet is almost certainly getting matched as the market was in the correct spot to do so.

However, the market then randomly suspended, shortly after was closed completely, leaving me with liability across the board (bar the horse I was trading on) inevitably resulting in me losing my whole days profit and slightly more, a good 8-10 hours trading down the sh*tter.

So are Betfair allowed to randomly close markets when they want for a horse race? Am I in a position to claim compensation on my liabilty on the race (ignoring the fact I was in a profitable position if I was to hedge) and finally have any of you guys been in a smimilar position... If so, what was the outcome?

Cheers guys, really appreciate any replies to the questions posted above. :)
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Naffman
Posts: 5924
Joined: Sun Aug 11, 2013 5:46 am

Betfair use an estimate off time on US races. You really need to be using the Betfair video when trading US as they can go off 15 mins either side of the scheduled off. I must say it is a very unfortunate way too find out!
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Euler
Posts: 26457
Joined: Wed Nov 10, 2010 1:39 pm

Y, Unfortunately US Racing has pretty much random off times. If they kept strict times they may encourage more liquidity.
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gazuty
Posts: 2557
Joined: Sun Jun 26, 2011 11:03 am

Us start times, more like guidelines http://youtu.be/b6kgS_AwuH0
Guisquets
Posts: 5
Joined: Sun Mar 30, 2014 3:12 am

Thing is I always have the race I'm trading on loaded up on live video as you say as I'm familiar they' start a few minutes early sometimes. The race started at pretty much the correct time, horses weren't anyway near the post when they suspended and closed the market which is where my dissatisfaction is arising.

Guess there's nothing I can do about it though, just have to get over it and move on.
Iron
Posts: 6793
Joined: Fri Dec 11, 2009 10:51 pm

Watch out for early suspensions on greyhound races too - see viewtopic.php?f=2&t=9142.

Jeff
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