General Betting
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30 Dec 11
16:27
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28 May 07
Could someone with greater knowledge than me about these things explain why the place market had to be voided?
Is it because people's bots work off the win market to derive place prices?
If so, surely that's their problem?
Is it because people's bots work off the win market to derive place prices?
If so, surely that's their problem?
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Replies: 13
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From their statement
We had to void both the win and place markets ............... This is because the bet in question had significantly impacted both markets. Yes you do have to wonder whose place market bot they're protecting in this sistuation |
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I don't understand why anyone with a bot generating orders off another market should be protected in any circumstances.
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the derviate place pricing of a win market corresponding offer of 29.0 never occured.
the winner was last matched in the place market at 1.03 though. |
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A feeble statement from Betfair. They 'had' to void the place market. WHY? Explain plesae, Betfair.
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Their announcement states "We had to void both the win and place markets and, to be clear, we would have voided the race regardless of who had won and whether or not we had suspended these markets sooner. This is because the bet in question had significantly impacted both markets. We did not void those bets placed before the off because they had not been affected by the bet."
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They're protecting linking bots for some reason here, not sure what that reason would be but I'd like them to clarify what we can get away with when using derivatives automatically.
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The announcement makes clear that only one bet was problematic and that was in the win market. If people choose to bet in the place markets according to bets in the win markets, then that is their choice and their responsibility.
Betfair's reasoning for voiding the win market was due to the technical fault. There was no technical fault in the place market, so they have no justification for voiding bets there IMO. |
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I have no financial interest in this whatsoever, but the decision on the place market seems to be a disgrace whereas I can understand the logic behind the main market even if I don't agree.
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Place market bettors now being paid
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*sorry compensated (might be different from getting paid)
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did the account that placed the erroneous £600m lay, lose the amount that was in that account?
If not, there is some protectionism going on |
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I doubt we will ever find out - but whoever put up the lay should have lost their whole bank, whatever level it was at when the bet was placed
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If the place market was linked to the win market,
the place price for horses priced equally in the win market, would be same. That doesn't happen from what I can see. |