smarkets growth

[LeTiss]

28. You also agree not to obstruct or hinder Smarkets's business operations.

I'm assuming this is the bit which Smarkets are unhappy about. They believe the guy is damaging their reputation and business by revealing to the betting community how he's been treated.

It sounds like the company is owned by Robert Mugabe with actions like these

Shocking stuff

[spreadbetting]

https://uk.finance.yahoo.com/news/londo ... 00682.html

That yearly £1 billion of trades might seem impressive but the reality is it's still under £3 million traded a day from a customer base of 25,000. It'd be interesting to see just how many of those 25,000 are actually active as we all know probably only a handful have the API access that'd make it a viable exchange for the majority of people to trade on.

[spreadbetting]

Seems yet another punter has had bets voided by smarkets market makers crying to mummy

http://community.betfair.com/horse_raci ... 1/smarkets

3.40 Leicester Thatsallimsaying
Bot goes wrong on there site, 20k plus wanting to back at 1.01 , before they even start the race.
I take £3,302.75 horse does not win, settled as a winner money in my account , 45mins latter its gone gets a 2 emails..

This email is to let you know we will be voiding the lays made at a price of 1.01 on the horse Thatsallimsaying as these were clearly the result of a significant user error. The appropriate adjustments will be made to your account shortly.

Apologies for any inconvenience this may cause you.

Kind regards,
David


£3,302.75 was removed from your account.
The following comment was included: 15:40 Leicester - bets voided
This brings your total to £558.80.

Please contact us if you have any questions about this.

Thanks,

The Smarkets Team

Ring up speak to a man called Milo agrees that what ever is match at the price is the price, but cant do nothing as its not his department, am not allowed to talk to anyone else as all busy, told someone get back..
20 mins latter a Dave rings not paying ..

A warning to all !!!!!...

IBAS have now ruled in favour of the punter in this case.

https://www.theguardian.com/sport/2016/ ... e-paid-out

[Bluesky]

Thanks for the update spreadbetting. I had read that IBAS usually sided with the bookie/exchange in most cases, but seems like that doesn't always happen.

I do feel a bit sorry for the person who had their account hacked though, that is sort of worrying.

[spreadbetting]

If the account was actually hacked that's down either the account holder's lax security or smarkets own poor account security not the genuine punter who took the bet. I've been caught out a few times on Betfair with my own 'fat fingered' mistakes, they're just things you take on the chin and try not to repeat.

[Euler]

I don't know the specifics here, but if you seed markets then these sorts of issues are going to occur. People will exploit loopholes or errors and the seeder would get shafted resulting the service having to palp the bet as it's not from a 'normal' account.