New Posts For Thread: Help please with possible palpable error.https://community.betfair.com/general_betting/go/thread/view/94082/23494130/help-please-with-possible-palpable-errorHi, backed a player in a golf tournie, (best price on all other bookmakers was 33/1) after day 2 at 100/1. The golfer is now half way through his 3rd round and my bet is still listed on my internet account with a very well known High Street bookie. CIn UK, Palpable error is illegal under the UK Gambling Act (all bets are recoverable in law - including bad bets) and Unfair Terms and Conditions Act.For the latter palpable is one sided and undefinable. Bookmakers take views or used to - in law theyhttps://community.betfair.com/general_betting/go/thread/view/94082/23494130/help-please-with-possible-palpable-error?post_id=540103669#540103669In UK, Palpable error is illegal under the UK Gambling Act (all bets are recoverable in law - including bad bets) and Unfair Terms and Conditions Act.For the latter palpable is one sided and undefinable. Bookmakers take views or used to - in law theySun, 22 Jun 2014 14:33:29 -0500I'd also wear a neck brace and walk with a cane....the suffering and stress showing.https://community.betfair.com/general_betting/go/thread/view/94082/23494130/help-please-with-possible-palpable-error?post_id=539975119#539975119I'd also wear a neck brace and walk with a cane....the suffering and stress showing.Mon, 16 Jun 2014 05:25:25 -0500I agree.How would I do this?I would have the bookie present several examples to the judge of prior errors that are considered palpable.I would then calculate the percentage they were out.Chances are, they would be larger percentages making this one lhttps://community.betfair.com/general_betting/go/thread/view/94082/23494130/help-please-with-possible-palpable-error?post_id=539975113#539975113I agree.How would I do this?I would have the bookie present several examples to the judge of prior errors that are considered palpable.I would then calculate the percentage they were out.Chances are, they would be larger percentages making this one lMon, 16 Jun 2014 05:24:50 -0500Wonder what happened with thishttps://community.betfair.com/general_betting/go/thread/view/94082/23494130/help-please-with-possible-palpable-error?post_id=539972845#539972845Wonder what happened with thisSun, 15 Jun 2014 20:28:34 -0500What I mean to make clear is that if an event is priced at 101% back and 99% lay, a longshot can still be way out of line.https://community.betfair.com/general_betting/go/thread/view/94082/23494130/help-please-with-possible-palpable-error?post_id=419697598#419697598What I mean to make clear is that if an event is priced at 101% back and 99% lay, a longshot can still be way out of line.Sat, 09 Jan 2010 10:46:51 -0600Or do you know the outcome probabilities of such an event with a greater accuracy than 2% ?I think notI can estimate outcome probabilities with greater accuracy than 2% on longshots. For instance, I'll be able to asses whether something is closer tohttps://community.betfair.com/general_betting/go/thread/view/94082/23494130/help-please-with-possible-palpable-error?post_id=419697594#419697594Or do you know the outcome probabilities of such an event with a greater accuracy than 2% ?I think notI can estimate outcome probabilities with greater accuracy than 2% on longshots. For instance, I'll be able to asses whether something is closer toSat, 09 Jan 2010 10:39:03 -0600If you ask a bookie why they run a book at 120% they'll probably say to make a profit and allow for a margin of error.A 2% variation in probability is well within the boundaries of the error margins when the probabilities can only be guesstiimated athttps://community.betfair.com/general_betting/go/thread/view/94082/23494130/help-please-with-possible-palpable-error?post_id=419697578#419697578If you ask a bookie why they run a book at 120% they'll probably say to make a profit and allow for a margin of error.A 2% variation in probability is well within the boundaries of the error margins when the probabilities can only be guesstiimated atSat, 09 Jan 2010 09:33:23 -0600Escapee 09 Jan 14:36 100/1 is about 1% probability33/1 is about 3% probabilityThey'd have a tough time trying to convince a Judge that a 2% difference in probability is Palpable Error.I'd definitely sue in a small claims court if they tried ihttps://community.betfair.com/general_betting/go/thread/view/94082/23494130/help-please-with-possible-palpable-error?post_id=419697558#419697558Escapee 09 Jan 14:36 100/1 is about 1% probability33/1 is about 3% probabilityThey'd have a tough time trying to convince a Judge that a 2% difference in probability is Palpable Error.I'd definitely sue in a small claims court if they tried iSat, 09 Jan 2010 08:57:50 -0600100/1 is about 1% probability33/1 is about 3% probabilityThey'd have a tough time trying to convince a Judge that a 2% difference in probability is Palpable Error.I'd definitely sue in a small claims court if they tried it onhttps://community.betfair.com/general_betting/go/thread/view/94082/23494130/help-please-with-possible-palpable-error?post_id=419697554#419697554100/1 is about 1% probability33/1 is about 3% probabilityThey'd have a tough time trying to convince a Judge that a 2% difference in probability is Palpable Error.I'd definitely sue in a small claims court if they tried it onSat, 09 Jan 2010 07:36:00 -0600I'm not going to bother laying off, for £18 I'll just let it ride.https://community.betfair.com/general_betting/go/thread/view/94082/23494130/help-please-with-possible-palpable-error?post_id=419697550#419697550I'm not going to bother laying off, for £18 I'll just let it ride.Sat, 09 Jan 2010 05:35:59 -0600