Leopardstown - 14:00 - Christmas Hurdle - Voler la vedette

[cambalache]

dear sirs

my complaint is a very simple one, you do not want to honour a bet placed in all fairness on a market in running, the race was the 4: 20 at Ayr the bet was taken an duly accepted to back hawkit at 3.9 my log confirms that the bet has been entirely matched and as such you must honour this bet, the technical problems that you might have had can not concern the customers once the feedback comes that the bet has been fully accepted.
could you please rectify this situation


thank you


september 14 2006


I am posting this as proof that betfair has done it before, and in the hope that if anyone can prove to IBAS(The arbitrator) as I did that that the bet was fully recorded with a ref number the chances that betfair can renege on those bets is quite remote. good luck.

[LeTiss]

It was obviously an error, but I'm more interested in knowing whether it was the account of a BF customer, or BF themselves?

If it came from BF's account, this probably explains who the mad bomber actually is!

[JollyGreen]

Allegedly this was the conversation overheard in the XM Office Betfair HQ

Minion "Shit, there's been a balls up with the software, we've just laid what looks a certain winner at 29 for a mint!"

Supervisor "What; are you sure?"

Minion "Yes, there's 1 hurdle to go and Voler la Vedette is all but home, what should we do?"

Supervisor "If it falls at the last or trips up before the winning line do nothing; if it wins forget to suspend the market and we'll cover our arses that way!"

Simples!!

[Euler]

Interesting angle from DStyle on the Betfair forum

the fact that the value was a maximum for a 32 bit integer in pence now makes me believe that it could be a technical error. i don't really want to try it, but if you entered a lay with an exposure greater than 2,147,483,647 it may not be able to assign the value to the projected exposure, leaving the variable with a value of 0 and allow it go through.

[Euler]

That said it returns an error, so we can rule that one out.

[freddy]

Day off today, did i miss anything

This could have massive repecusaions for betfair could be a real game changer.

[mcfc1981]

In response to a number of customer questions on this matter, we would like to clarify that the account in question has no commercial relationship with Betfair other than being a customer.

they should payout!!!!!!

[lilgreenback]

As others have said I could not see a single person or syndicate risking so much money in their account 600M?. However was the new Kim Jong Jnr experimenting with the ideas and benefits of the free market economy and trying out Betting for the first time.

If Betfair have been playing within their own markets is it not a little like Insider Trading (or share dealing). Could they not also be benefitting in other ways such as very little or no time delay when opening/closing positions (unlike everyone else). Again allowing themselves the maximum opportunity to benefit from their systems.

If this is the case however you dressed it up it still amounts to cheating (allegedly), in some ways you reap what you sow. How often have the suspensions or technical issues hit everyone else following thier upgrades etc.

I think a number of people on the forum have commented in the past that BF needed to reconsider rebuilding the system from the bottom up.

Hopefully no-one has lost anything (aside from the race being voided which is bad in itself I know) as you can bet that if "they" had won; the result would have stood.

[andyfuller]

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.

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.

Section 9, http://www.betfair.com/aboutUs/Terms.an ... /#section7

Am I being blind? There doesn't seem to be a section 9 on that link?

[Euler]

Under general betting terms UK I think.

[Euler]

If you are quick you will see somebody upset!

http://community.betfair.com/general_be ... al-betting

[mcfc1981]

its number 9 on section 1

[Euler]

In response to a number of customer questions on this matter, we would like to clarify that the account in question has no commercial relationship with Betfair other than being a customer.

I've just seen that's the official line, but I am really struggling to see how it is possible to create a £600m liability. That should be all but impossible given the safeguards in place. Also you would need balls of titanium to keep on putting in bets to create a liability of that size.

I think Betfair should investigate thoroughly and give a really detailed explanation and remedy. If somebody has found a flaw then what's to stop somebody else from exploiting it and getting tons of markets voided?

[jimrobo]

probably see a "site upgrade" tonight!!

[mcfc1981]

if the layer had a 2.2m balance and made a lay of £80000 at 29s i have no doubt people would have been paid out.
surely the layer cannnot get off scotfree!!!!
his balance should be paid out to the winners in a precentage or his balance put back into racing.