Let's say I green up in-play on a race, and due to a rule 4 that wasn't applied till after the race was finished, I end up with a balance in the red once the race is settled.
But before the race is settled, I place a bet on the next race. If the horse loses and I were to say to Betfair 'I exceeded my allowed liability when I placed that bet, so can the bet be voided please?', they'd tell me to do one (after they'd finished rolling around on the floor in laughter), but that's basically what they did in this instance!
Jeff
Leopardstown - 14:00 - Christmas Hurdle - Voler la vedette
To close a loophole in in-play betting and beating the clock. Betfair made the whole account exposure thing rock solid a few years ago. On many, many occasions I have been unable to place a bet due to exceeding an exposure limit. So I don't see how it is possible for an external account to exceed their exposure limit.
This is Betfair's explanation of how the exposure limit works:
http://help.betfair.com/contents/itemId ... ex.en.html
If exposure limits are there purely to protect customers from themselves, how is it fair to use them
as an excuse to cancel bets placed in good faith?
Surely if I bet more than the amount I've told Betfair I can afford to lose, it's my silly fault if I lose money as a result!
Jeff
http://help.betfair.com/contents/itemId ... ex.en.html
If exposure limits are there purely to protect customers from themselves, how is it fair to use them
as an excuse to cancel bets placed in good faith?
Surely if I bet more than the amount I've told Betfair I can afford to lose, it's my silly fault if I lose money as a result!
Jeff
mcfc1981 wrote:hmmmmmmmmmmm exposure limit and account balances are different they say exposure limit was exceeded does this mean the the customer had the funds to cover the bet????
Does Betfair extend a credit facility to certain customers?
If not, the whole concept of an exposure limit seems a bit silly. If you have £x,000 in your account, you presumably put that money in your account because you were willing to have a total exposure of up to that amount. Why else would the money be in your Betfair account, and not earning interest in a bank account?
Jeff
If not, the whole concept of an exposure limit seems a bit silly. If you have £x,000 in your account, you presumably put that money in your account because you were willing to have a total exposure of up to that amount. Why else would the money be in your Betfair account, and not earning interest in a bank account?
Jeff
Euler wrote:Quite how an external account could exceed their exposure limit by the odd £600m or so is a little beyond belief.
Nothing surprises me anymore about Betfair.
The telegraph; Daily Mail and The Guardian have all picked up on it...let's hope one of them views this forum so they can see the ill feeling it produces..
I know some of you had potentially big wins today (5 figs) but I bet there were some six fig winners too..it would be interesting to see if any of those challenge it in any way? ..mind you,. we will never to get to know anyway..
The telegraph; Daily Mail and The Guardian have all picked up on it...let's hope one of them views this forum so they can see the ill feeling it produces..
I know some of you had potentially big wins today (5 figs) but I bet there were some six fig winners too..it would be interesting to see if any of those challenge it in any way? ..mind you,. we will never to get to know anyway..
someone posted this on betfair forum
Minimum and maximum bet stakes
Depending on the product or type of market you are betting on and depending on the currency that you are betting in, there are minimum bet sizes that apply. These minimum bet sizes are subject to change and may differ depending on whether you are on our site or using the Telephone Betting Service. You are not permitted to place bets or try to place bets that are below the minimum bet size threshold and doing so may result in your account being permanently closed.
Your betting limit is represented by the lesser of: (i) your 'Available to Bet' balance shown in your account and (ii) your ‘Exposure Limit’ (which is available in the “Account Summary” tab in “My Account”). However in the event that we process an offer for a bet or the acceptance of a bet in an amount outside the applicable thresholds, such bet will nevertheless stand.
Minimum and maximum bet stakes
Depending on the product or type of market you are betting on and depending on the currency that you are betting in, there are minimum bet sizes that apply. These minimum bet sizes are subject to change and may differ depending on whether you are on our site or using the Telephone Betting Service. You are not permitted to place bets or try to place bets that are below the minimum bet size threshold and doing so may result in your account being permanently closed.
Your betting limit is represented by the lesser of: (i) your 'Available to Bet' balance shown in your account and (ii) your ‘Exposure Limit’ (which is available in the “Account Summary” tab in “My Account”). However in the event that we process an offer for a bet or the acceptance of a bet in an amount outside the applicable thresholds, such bet will nevertheless stand.
Let's face it, BF cocked up the cross matching. Their own internal account went mental and now they voided it because they lost money. They wouldn't have voided if it went the other way. Unless they come out and state it was NOT their account they are onto a loser.
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spreadbetting
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Yep the line "However in the event that we process an offer for a bet or the acceptance of a bet in an amount outside the applicable thresholds, such bet will nevertheless stand." does seem to go against their current view of voiding.mcfc1981 wrote:someone posted this on betfair forum
Minimum and maximum bet stakes
Depending on the product or type of market you are betting on and depending on the currency that you are betting in, there are minimum bet sizes that apply. These minimum bet sizes are subject to change and may differ depending on whether you are on our site or using the Telephone Betting Service. You are not permitted to place bets or try to place bets that are below the minimum bet size threshold and doing so may result in your account being permanently closed.
Your betting limit is represented by the lesser of: (i) your 'Available to Bet' balance shown in your account and (ii) your ‘Exposure Limit’ (which is available in the “Account Summary” tab in “My Account”). However in the event that we process an offer for a bet or the acceptance of a bet in an amount outside the applicable thresholds, such bet will nevertheless stand.
Section 9, http://www.betfair.com/aboutUs/Terms.an ... /#section7
Last edited by spreadbetting on Wed Dec 28, 2011 5:27 pm, edited 1 time in total.
So Betfair can't hide behind their T & C's surely, as they quite clearly state that the bet will stand?!? 
Jeff
Jeff
mcfc1981 wrote:However in the event that we process an offer for a bet or the acceptance of a bet in an amount outside the applicable thresholds, such bet will nevertheless stand.
Dear Krzysztof
One or more of your bets, placed on the market has been voided/lapsed by Betfair. Whilst these bets were all placed in good faith, in order to be fair to all users we have had to void/lapse them.
Should you require any further information please do not hesitate to contact us by emailing [email protected] or calling our helpdesk on 0870 0110444 (+44 20 8834 8060 from outside the UK). You will find details of the voided bets in "My Account, Betting History".
Please accept our apologies for any inconvenience, and we hope you continue to use and enjoy the site.
Kind regards
http://www.betfair.com
Voided/Lapsed Bets