Match Odds + Both Teams to Score

[LeTiss]

I've noticed on tonights Champions League, a bet that I haven't seen before - Match Odds + Both Teams to Score

What's amazed me though is the liquidity. In most cases, the money matched is significantly higher than the traditional 'Match Odds' markets

Ajax vs Celtic Match Odds - £120k matched
Ajax vs Celtic Match Odds + Both Teams to Score - £685k matched

Where on earth has this liquidity come from, it doesn't make sense?
Or, is there something about this market that I've overlooked?

[kelpie]

Maybe it's been flagged by the Arb Brigade?

[kelpie]

The spreads are cavernous

Ajax + both score back 1.95 lay 2.92
Score draw 1.97 6.4
Celtic + both 3.05 6.8

[LeTiss]

On closer inspection it appears massive money has been matched on 1 price only, it's not spread

Ajax - 1.75 £58.8k
Draw - 2.96 £196.9k
Celtic - 3 £194.3k

It's not somebody dutching, as that equates to 124% book

It must be a bot, so somebody has fucked up, I'm surprised that there was such vast sums available to take on such a market though

It's a similar story on all 8 matches

[LeTiss]

Ok, all those markets have now been suspended!!

Something has gone horribly wrong there - I wonder on what grounds the markets have been suspended?

I've just noticed the Zenit vs Porto match had a back book percentage of 96% at the time of suspension. However, it appears BF have now wiped all the money & the markets will be shut down soon

I assume it's an internal error that has led to this figures - perhaps it wasn't real money being matched!

[CaerMyrddin]

Thanks for highlighting this, interesting stuff. Doesn't look like a Voler La Vedette move though?

Someone must have got it really wrong and backed with loads thinking they were printing money exploiting the over round...

[CaerMyrddin]

Regarding that particular match, someone's facing a potential loss of €200k here? If the same happened on all matches maybe €1.3M? If the counterpart is someone around here, congratulations mate! And I hope you get paid....

[kelpie]

I see this market in Ajax is now closed. Someone must be in right kerfuffle now

Good spot by LeTiss. Will be interesting to see if anything publicised by betfair

[LinusP]

http://forums.moneysavingexpert.com/sho ... ?t=4813090

I bet the x-matching bot had a fit, and betfair will cancel all bets so that they don't lose any money..

[CaerMyrddin]

For example last night we made a few hundred on the five CL games where each team scored, and lost tens of thousands on the three games where one or both didn’t.

Who's 'we' on this sentence?

They don't need to have the xm bot turned on to lose money. if a someone dutchs all the results, will free the money and be able to do it again and again.

Someone has filled their boots yesterday. Congratulations!

[Euler]

Y I noticed that, here is the full extract

I just spoke to our market operations team who have given the below explanation as to what happened with this bet:

Apologies to bring this on you first thing but we have an issue with the above markets from last night and tonight. These were set up in error with the ‘Incomplete’ tick box not ticked, despite the possibility of us having to add a runner in at Full Time if both teams fail to score.

A customer can offer a whole load of bets at 99%. Effectively that means a customer could get an enormous bet that one team won’t score. They lose a few hundred pounds if both teams score, and make tens of thousands if either doesn’t. For example last night we made a few hundred on the five CL games where each team scored, and lost tens of thousands on the three games where one or both didn’t.

Due to the market being malformed we will be reinstating and voiding bets matched last night in addition to voiding matched bets on tonight’s markets. The following rule will be used:

· If an incorrect team or competitor name is displayed (excluding minor spelling mistakes) or the incorrect number of teams, competitors or outcomes is displayed in any complete market or a market is otherwise loaded using incorrect information (for example the application of an incorrect exposure algorithm) or includes any obvious error, then Betfair reserves the right to suspend the market and (providing it acts reasonably) to void all bets matched on the market.

[LinusP]

Ah yes that rule, but if a betfair user puts in the wrong odds then its betfairs money, what a joke.

[steven1976]

Not the tick box! Ill be looking out for the new job on offer at bf, can't be that difficult.

[LeTiss]

Betfair showing their true colours again though - they void any markets or bets when they have made a mistake, but say 'tough shit' when one of their customers does the same

[BJGardner]

Twas ever thus, with the palpable error rule.

Found this on the net

http://www.moremoneyreview.com/palpable-error-7227.html

First – if a price looks really wrong compared to other offers in the market place, strike your bet by telephone, and ask for confirmation that the price on offer is indeed accurate.

If you do this and the bet is accepted then you stand more chance of no ‘palable error’ being called, or if it is then some goodwill gesture or settlement.