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http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/8790593/Betfair-a-shambles-says-punter-who-lost-16000.html
Betfair a 'shambles' says punter who lost £16,000
Betfair has been described as a "shambles" by a punter who thought he had won £16,610 on the Tote jackpot at Newmarket only to find the betting exchange had failed to process the wager.
Alistair Osborne
By Alistair Osborne
6:00AM BST 27 Sep 2011
The company, whose shares have dived 42pc since last October's £13-a-share float, is investigating why bets from some clients were never placed in the Tote pool.
The issue is particularly embarrassing as the £2.92m pool for last Friday's jackpot – where punters must find the winners of six races – was the biggest in the Tote's history.
Nick Bradley, a high-stakes gambler, placed permutation bets costing £12,000 on the rollover jackpot and thought he had won when 3-1 shot Mahbooba romped home.
"The funds had been taken out of my Betfair balance but when I went to see how much I'd won it said the bet had not been placed," said Mr Bradley, bloodstock manager for Middleham Park Racing.
He quickly found he was not the only one to have lost out after posting on Twitter: "Betfair are a bunch of ------ clowns! bets placed on the tote today by betfair users didnt go on, although funds were taken from accounts."
He told the Racing Post he had paid more than £400,000 in Betfair commissions only to "get treated like this".
Speaking on Monday, Mr Bradley said: "Peer-to-peer betting is the best idea to have come out of the betting industry but the way they [Betfair] run it is a shambles.The site must go down once a week, so everyone who has bets placed and who might want to change them in running can't do it."
A spokesman for Betfair, whose chief executive David Yu and chairman Ed Wray have both announced their looming departures, said it had encouraged "customers to bet early and avoid the last 15 minutes as there was likely to be a large demand on the Tote's systems". He said Betfair had "apologised" to all affected customers and "returned funds associated with failed bets". He could not say whether Mr Bradley would be paid out.
The Tote said the problem had only occurred with wagers placed via Betfair.
Betfair a 'shambles' says punter who lost £16,000
Betfair has been described as a "shambles" by a punter who thought he had won £16,610 on the Tote jackpot at Newmarket only to find the betting exchange had failed to process the wager.
Alistair Osborne
By Alistair Osborne
6:00AM BST 27 Sep 2011
The company, whose shares have dived 42pc since last October's £13-a-share float, is investigating why bets from some clients were never placed in the Tote pool.
The issue is particularly embarrassing as the £2.92m pool for last Friday's jackpot – where punters must find the winners of six races – was the biggest in the Tote's history.
Nick Bradley, a high-stakes gambler, placed permutation bets costing £12,000 on the rollover jackpot and thought he had won when 3-1 shot Mahbooba romped home.
"The funds had been taken out of my Betfair balance but when I went to see how much I'd won it said the bet had not been placed," said Mr Bradley, bloodstock manager for Middleham Park Racing.
He quickly found he was not the only one to have lost out after posting on Twitter: "Betfair are a bunch of ------ clowns! bets placed on the tote today by betfair users didnt go on, although funds were taken from accounts."
He told the Racing Post he had paid more than £400,000 in Betfair commissions only to "get treated like this".
Speaking on Monday, Mr Bradley said: "Peer-to-peer betting is the best idea to have come out of the betting industry but the way they [Betfair] run it is a shambles.The site must go down once a week, so everyone who has bets placed and who might want to change them in running can't do it."
A spokesman for Betfair, whose chief executive David Yu and chairman Ed Wray have both announced their looming departures, said it had encouraged "customers to bet early and avoid the last 15 minutes as there was likely to be a large demand on the Tote's systems". He said Betfair had "apologised" to all affected customers and "returned funds associated with failed bets". He could not say whether Mr Bradley would be paid out.
The Tote said the problem had only occurred with wagers placed via Betfair.
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incredible...fraud is a word which comes to mind. Lawsuit is another. Jail time perhaps.
ALL journalist tell lies so maybe is good news for everyone if david yu ban alistair osborne if osborne has account.
Stories like this are why is good news Jonathon Oates BF spokesman does not let journalist into BF AGM.
Have you not noticed the sudden rise in negative publicity?
Stories like this are printed because journalists were not allowed into the AGM.
Stories like this are printed because journalists were not allowed into the AGM.
Speaking on Monday, Mr Bradley said: "Peer-to-peer betting is the best idea to have come out of the betting industry but the way they [Betfair] run it is a shambles.The site must go down once a week, so everyone who has bets placed and who might want to change them in running can't do it."
BetFAIR bosses : "We are the best thing since sliced bread"
BetFAIR users : "BetFAIR is the best thing since sliced bread, apart from the peoples who run it".
Same story, every boss say same thing, every user say same thing.
BetFAIR bosses : "We are the best thing since sliced bread"
BetFAIR users : "BetFAIR is the best thing since sliced bread, apart from the peoples who run it".
Same story, every boss say same thing, every user say same thing.
Why do betfair servers breakdown on Saturdays and this problem of not getting the bets on the tote in time occur?
Because although betfair has spent the most of any on-line transaction making company on infra-structure its still under the greatest demands of any dot.com by customers requests, its a three year investment to bring everything up to speed.
Is it any wonder we have premium charges as while betfair is trying to build up the system, get new customers on-board, botters sand bookies are vacuuming alot of money out of the betfair system so perhaps now if you see the big picture we might give betfair the credit they deserve instead of beating them up all the time.
Because although betfair has spent the most of any on-line transaction making company on infra-structure its still under the greatest demands of any dot.com by customers requests, its a three year investment to bring everything up to speed.
Is it any wonder we have premium charges as while betfair is trying to build up the system, get new customers on-board, botters sand bookies are vacuuming alot of money out of the betfair system so perhaps now if you see the big picture we might give betfair the credit they deserve instead of beating them up all the time.
BFF you are the single biggest kisser of Betfair's arse on here bar none.
Not a brown noser, just a realist and betfair is the closest thing to the perfect betting site you will find, no contest.
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