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

[Iron]

The shareholders don't seem impressed! http://uk.finance.yahoo.com/q?s=BET.L

[JollyGreen]

They will attribute it to an IT error as that will have a cover all in the Ts and Cs!!

[CaerMyrddin]

By now it is clear it was a betfair mistake, imho.

It would take millions backing the non winners to make the winner's price pop like that with such an impressive amount attached, with a proper XM bot.

Plus, betfair would have settled the market by now if it wasn't their mistake. The comission would be great.

The market will be voided and a PR operation must be in preparation by now...

[Iron]

Probably, but whether that will wash with a high court judge is another matter.

I think Betfair have gotten away with dubious practices up till now because people haven't been able to afford to take them to court and/or because they don't want to risk having their account shut down permanently. But I don't think either of those things will put off this guy...

Jeff

They will attribute it to an IT error as that will have a cover all in the Ts and Cs!!

[Euler]

The thing that annoys me is that Betfair will allow money to be stolen from other peoples accounts, call it fraud and say tough luck to the person who was defrauded. But it looks increasingly likely to me that it's perfectly possible such issues are 'IT' errors.

If Betfair blame this on an IT error how can they dismiss perfectly legitimate claims for fraud or money just vanishing from peoples accounts?

[andyfuller]

Are they waiting until 16.35 to issue a proifts warning

[jimrobo]

this is a whole can of worms!! Is anyone actually considering withdrawing money sat in their account for security???

[Iron]

I think the key question is whether a massive bet was placed by an individual, or if a computer error meant that most of the volume was due to Betfair self-matching.

If it's the former, Betfair could be in deep trouble, but if it's the latter, then it will just be another Betfair cock-up - embarrassing, but not a threat to the company's future...

Jeff

By now it is clear it was a betfair mistake, imho.

It would take millions backing the non winners to make the winner's price pop like that with such an impressive amount attached, with a proper XM bot.

[andyfuller]

this is a whole can of worms!! Is anyone actually considering withdrawing money sat in their account for security???

If it doesn't stand it should be huge as to the implications.

[runningman]

This is 100% Betfairs problem, how could someone have 600 million in an account? There is not enough oppertunity in the marketplace to come close to matching the interest returns for this amount of money.

Ill wait nervously like everyone else but I somehow doubt ill be pricing up an Aston Martin tommorrow

[Iron]

I wonder whether Betfair will void the race on the grounds of suspicious betting activity, ie they'll say something like:

'It seems unlikely that someone would back a horse at 29s for that kind of money unless the race was fixed. Therefore, in the interests of integrity, we have taken the decision to void all bets placed on this race'.

Jeff

[Iron]

Was it clear that the jockeys were going all out for victory, or would Betfair be able to make a case that there may have been non-triers?

Jeff

[andyfuller]

Picked up on Sky Sports News now with Big Mac - why oh why do they get him on.

[Euler]

[mugsgame]

MCCririck on Sky Sports News. Making National news now

He is clueless

Here is the kicker, Why have Betfair got ANY liability? Betfair is a Peer to Peer Betting platform. They shouldn't have any liability