How Betfair Cheated Me. What can I do?
u said at the beginning in betfairs rules they will let bets stand if.....no goal/no sending off/no pen.....
u then say the market was turned inplay AFTER the goal...
I might be missing something but the rules u put up mean betfair have every right to void the original back bets
u then say the market was turned inplay AFTER the goal...
I might be missing something but the rules u put up mean betfair have every right to void the original back bets
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spreadbetting
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mcfc1981, Betfair have different rules on the football to the racing with regards in running. In cases where they miss the kick off time they allow bets to stand unless a material event like a goal, sending off etc has occurred before they switch to inplay. Basically they don't want to be held liable for their incompetence at managing markets and lose comms.
In this case the market wasn't inplay and apparently no goal scored when the back bets were placed, market then turned inplay and a goal scored seconds afterwards. So under Betfair's own rules the bets should be left standing. But obviously we only know part of the story. With TV delays etc was the goal actually scored before the bet submitted. I'd guess the actual goal times and the bet placement times should be easy to obtain. If the bet was placed pre goal , did Betfair allow other bets, from other users, to stand at any time between the actual off and the time the market went inplay.
Betfairs rules will cover them however they wish to play it. Maybe taking the case to IBAS may get them to rethink in guvna's favour depending on what the true story is.
In this case the market wasn't inplay and apparently no goal scored when the back bets were placed, market then turned inplay and a goal scored seconds afterwards. So under Betfair's own rules the bets should be left standing. But obviously we only know part of the story. With TV delays etc was the goal actually scored before the bet submitted. I'd guess the actual goal times and the bet placement times should be easy to obtain. If the bet was placed pre goal , did Betfair allow other bets, from other users, to stand at any time between the actual off and the time the market went inplay.
Betfairs rules will cover them however they wish to play it. Maybe taking the case to IBAS may get them to rethink in guvna's favour depending on what the true story is.
spreadbetting wrote:mcfc1981, Betfair have different rules on the football to the racing with regards in running. In cases where they miss the kick off time they allow bets to stand unless a material event like a goal, sending off etc has occurred before they switch to inplay. Basically they don't want to be held liable for their incompetence at managing markets and lose comms.
In this case the market wasn't inplay and apparently no goal scored when the back bets were placed, market then turned inplay and a goal scored seconds afterwards. So under Betfair's own rules the bets should be left standing. But obviously we only know part of the story. With TV delays etc was the goal actually scored before the bet submitted. I'd guess the actual goal times and the bet placement times should be easy to obtain. If the bet was placed pre goal , did Betfair allow other bets, from other users, to stand at any time between the actual off and the time the market went inplay.
Betfairs rules will cover them however they wish to play it. Maybe taking the case to IBAS may get them to rethink in guvna's favour depending on what the true story is.
he say's the market was first turned inplay after the goal.....
I placed a couple of bets backing the home team. Just a few seconds later, they scored. Only just after this was the market turned in play
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spreadbetting
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K, I'd misread it, assuming Betfair cancelled all bets for the period between kick off and the market going in play for all bettors, in line with their regs, you don't have a leg to stand on.
Yeah the market was suspended & turned in play a few seconds after the goal.
Clearly as I see it they cannot be justified in voiding the back bets but keeping the lay bets (which were actually just closure bets), because without the back bets there would have been no position to close and hence no lay bets.
Some people have mentioned IBAS, some have said Gam Com UK, others Gam Com Gibraltar.
I think that what BF have done is unacceptable, but want some means of resolving it without having to hire a lawyer.
Clearly as I see it they cannot be justified in voiding the back bets but keeping the lay bets (which were actually just closure bets), because without the back bets there would have been no position to close and hence no lay bets.
Some people have mentioned IBAS, some have said Gam Com UK, others Gam Com Gibraltar.
I think that what BF have done is unacceptable, but want some means of resolving it without having to hire a lawyer.
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spreadbetting
- Posts: 3140
- Joined: Sun Jan 31, 2010 8:06 pm
Their rules allow them to cancel the back bets though because a material event occurred during that period i.e. a goal. The timing of that goal should be immaterial just the fact it occurred within that period would mean that whole period should be voided not just bets after the goal.
Similar quirks happen all the time on horseracing where there are late non runners and reduction factors applied after the event.
Similar quirks happen all the time on horseracing where there are late non runners and reduction factors applied after the event.
guvna wrote:Yeah the market was suspended & turned in play a few seconds after the goal.
Clearly as I see it they cannot be justified in voiding the back bets but keeping the lay bets (which were actually just closure bets), because without the back bets there would have been no position to close and hence no lay bets.
Some people have mentioned IBAS, some have said Gam Com UK, others Gam Com Gibraltar.
I think that what BF have done is unacceptable, but want some means of resolving it without having to hire a lawyer.
I have sympathy with u but u don't have a leg to stand on....
the rules u put up clearly state bets will only stand if nothing major in the game has happened....in this case a goal was scored before the event was turned inplay
How much is involved here ??
If u are thinking of lawyering up, it seems big .. which, indicates to me, u did exactly what Betfair accuse u of.
Accept it, and move on .. really, u can do fuck-all.
I know its not palatable .. but, presume its not the first time, this 'might' have happened.
U have had the swings .. now, its the roundabouts ..
If u are thinking of lawyering up, it seems big .. which, indicates to me, u did exactly what Betfair accuse u of.
Accept it, and move on .. really, u can do fuck-all.
I know its not palatable .. but, presume its not the first time, this 'might' have happened.
U have had the swings .. now, its the roundabouts ..
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tomallen123
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You used the app to trade out?
Does this mean you were "trading" on your mobile?
Were you at the game?
When Betfair use the term "Sweep", I assume that means the person took all the available prices and not just the current one (within reason of course). Do you have a screenshot of the bets you placed?
Does this mean you were "trading" on your mobile?
Were you at the game?
When Betfair use the term "Sweep", I assume that means the person took all the available prices and not just the current one (within reason of course). Do you have a screenshot of the bets you placed?
No I wasn't at the game.
There is a greenout (close position) button on the software, this is similar to cashout on the betfair web interface except you can choose the price to close your position at. So I used this.
My point to them was that I was just closing the position that I had opened with the back bets, and the back bets were shown as matched and valid in the "matched bets" tab and in the profit & loss display under the runners. Without the back bets there would have been no position to close and therefore no lay bets. So voiding the back bets but allowing the closure (lay) bets to stand is completely unacceptable IMO.
It's a valid point isn't it?
There is a greenout (close position) button on the software, this is similar to cashout on the betfair web interface except you can choose the price to close your position at. So I used this.
My point to them was that I was just closing the position that I had opened with the back bets, and the back bets were shown as matched and valid in the "matched bets" tab and in the profit & loss display under the runners. Without the back bets there would have been no position to close and therefore no lay bets. So voiding the back bets but allowing the closure (lay) bets to stand is completely unacceptable IMO.
It's a valid point isn't it?
Betfair are as much to blame, they let you put back bets into there market, i would push to get my money back but remember they can close your account.guvna wrote:No I wasn't at the game.
There is a greenout (close position) button on the software, this is similar to cashout on the betfair web interface except you can choose the price to close your position at. So I used this.
My point to them was that I was just closing the position that I had opened with the back bets, and the back bets were shown as matched and valid in the "matched bets" tab and in the profit & loss display under the runners. Without the back bets there would have been no position to close and therefore no lay bets. So voiding the back bets but allowing the closure (lay) bets to stand is completely unacceptable IMO.
It's a valid point isn't it?
Mate, as a pro football trader , this happened to me several times . If you could beat the suspend clock and could match your bets, they have a right to cancel your money on the back side after the game.
They do it all the time..Probably as another member suggested, you backed betfair market maker bot money .. So they cancelled their liability and keep yours on the lay side .. Unfortunate but nothing to do except swallow and keep walking..
They do it all the time..Probably as another member suggested, you backed betfair market maker bot money .. So they cancelled their liability and keep yours on the lay side .. Unfortunate but nothing to do except swallow and keep walking..