7.40 Chepstow
I know I'm supposed to be in some self-imposed exile, but I'm coming out to comment on this, as it's got me angry.
I've just lost £30 on this race. I can understand the argument that bets should stand if the system goes down, as otherwise criminal gangs might crash Betfair to get out of bad trades. However, why should I lose money become some numpty at Betfair HQ pressed the wrong button and sent the wrong race in-play. Also, I'm guessing that at least one person rung up Betfair in the 5 minutes before the race to say 'Wtf is going on?', so why wasn't that information immediately passed to the relevant people and the problem rectified?
Jeff
I've just lost £30 on this race. I can understand the argument that bets should stand if the system goes down, as otherwise criminal gangs might crash Betfair to get out of bad trades. However, why should I lose money become some numpty at Betfair HQ pressed the wrong button and sent the wrong race in-play. Also, I'm guessing that at least one person rung up Betfair in the 5 minutes before the race to say 'Wtf is going on?', so why wasn't that information immediately passed to the relevant people and the problem rectified?
Jeff
I agree mate. 
One of my big challenges in life is to gain inner peace (on the topic of which, I found this video featuring Russell Brand quite funny - https://www.youtube.com/watch?v=zTG4UcxR_8M).
Here's quite a sobering article about the purpose of trading: http://newtraderu.com/2013/09/04/a-trad ... -question/
Jeff
One of my big challenges in life is to gain inner peace (on the topic of which, I found this video featuring Russell Brand quite funny - https://www.youtube.com/watch?v=zTG4UcxR_8M).
Here's quite a sobering article about the purpose of trading: http://newtraderu.com/2013/09/04/a-trad ... -question/
Jeff
Thanks Marko - I appreciate that.
I'll be about, but there's loads of stuff I need to focus on at present in my life, not least getting back into work. Also, when I left the forum it wasn't just because I was a bit irritated by a few comments. When trading, I think it's important to find a technique you're comfortable with and you think works, and then really hone in on that, blanking out distractions (including other traders' opinions, however valid they might be). Otherwise, the risk is that you end up being pulled in different directions and lacking any consistency in your application.
Jeff
I'll be about, but there's loads of stuff I need to focus on at present in my life, not least getting back into work. Also, when I left the forum it wasn't just because I was a bit irritated by a few comments. When trading, I think it's important to find a technique you're comfortable with and you think works, and then really hone in on that, blanking out distractions (including other traders' opinions, however valid they might be). Otherwise, the risk is that you end up being pulled in different directions and lacking any consistency in your application.
Jeff
'Thank you for your e-mail.
Apologies for the inconvenience caused by this, but we will not be reimbursing you on this occasion. The off was missed on this race which resulted in all bets placed after the off being voided.
We understand this is not ideal, please accept our apologies once again.'
Apologies for the inconvenience caused by this, but we will not be reimbursing you on this occasion. The off was missed on this race which resulted in all bets placed after the off being voided.
We understand this is not ideal, please accept our apologies once again.'
Just noticed something:
'The off was missed on this race which resulted in all bets placed after the off being voided.'
I think this guy was thinking of the wrong race. I think he was thinking I was referring to the race that wasn't put in-play, rather than the one that was put in play 5 minutes early.
You can't get the staff!
I should apply to work in customer services at Betfair - if this numpty is representative, they need me! 
Jeff
'The off was missed on this race which resulted in all bets placed after the off being voided.'
I think this guy was thinking of the wrong race. I think he was thinking I was referring to the race that wasn't put in-play, rather than the one that was put in play 5 minutes early.
You can't get the staff!
I should apply to work in customer services at Betfair - if this numpty is representative, they need me! Jeff
I appealed, but I'm whistling in the wind:
'The race at Chepstow was set in play early in error and in play betting was suspended as a result. I appreciate your frustration but there is no guarantee that you can trade or cashout of a bet. We will always offer live markets whenever possible, but in situations like this we are not liable to refund losing bets. We are covered on this in our terms which you accept whenever you place a bet, so we can't offer any compensation I'm afraid.'
Ah, the good old t&c's argument - A catchall for Betfair doing whatever they want without consequence.
'The race at Chepstow was set in play early in error and in play betting was suspended as a result. I appreciate your frustration but there is no guarantee that you can trade or cashout of a bet. We will always offer live markets whenever possible, but in situations like this we are not liable to refund losing bets. We are covered on this in our terms which you accept whenever you place a bet, so we can't offer any compensation I'm afraid.'
Ah, the good old t&c's argument - A catchall for Betfair doing whatever they want without consequence.
The T&Cs argument would be more palatable if there were a huge choice of high liquidity betting exchanges to choose from. If anyone doubts that Betfair has a near monopoly, have a look at the attached screenshot, from one of the highest volume races of the year. That screenshot was taken pre-off, btw.
I think most traders would find trading such gappy markets frustrating (I certainly do).
Jeff
I think most traders would find trading such gappy markets frustrating (I certainly do).
Jeff
You do not have the required permissions to view the files attached to this post.
Last edited by Iron on Fri Jul 04, 2014 7:44 pm, edited 2 times in total.