General Betting
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Just wanted to know everyone's views on this matter.....
I decided to trade under/over 1.5 goals on a game in Sweden last night, I placed a back bet on unders shortly after a goal had been scored....Gefle 0-1 Elfsborg. Shortly after in the first half the market was suspeneded for no apparent reason. No goal had been scored and there was no possible sending off situation, penalty etc.
At half time the market had been closed and settled. I checked my p/l and saw that my back bet on unders had been listed as a loss. I had been watching the match on Bf video where no score-line was shown so I checked all score sites/bookmakers....all stating that the game was 0-1.
I then rang Betfair to make them aware of the situation and he checked the score from other sources and accepted there had been an error on their part. The over/under 2.5 market prices indicated only one goal had been scored.
I was told that it would be unlikely that bets would be void and that they would be trying to reinstate the market asap.
The market eventually appeared after an equalising goal around the 68th minute and obviously showed as suspended for the remainder of the game. I also think that the 2nd goal was treated as a 3rd by Betfair as the over/under 2.5 goals market stayed suspended as the other markets re-opened.
I rang Betfair after the game to discuss this matter further and was told that the market had been settled incorrectly and that my bet would be void and the money would appear in my account within a few minutes.
There was no sign of the money after a couple of hours so I contacted them again to find that their views had basically changed and they were not liable. They accepted that the error was on their part but weren't voiding any bets.
I had my money returned as a good will gesture (stated as this in my p/l) as the stake was small.....not sure whether this would be the case if I was dealing with much larger stakes.
I've not got a problem with the way this was handled by betfair employees as they acted very professionally and reasonably and they were only following the Betfair guide lines/structures in place. I have received my stake back which I'm obviously grateful for as it looks a though they didn't need to do that.
I've got a problem that Betfair will not compensate bettors/traders who miss out due to their errors. If this was a pre-off bet and the game finished 1-2 then I would accept that I had lost but as a trader I feel a little peeved.
I would like to know what any other in-play traders feel about this.....surely this makes this method of trading too risky????
I decided to trade under/over 1.5 goals on a game in Sweden last night, I placed a back bet on unders shortly after a goal had been scored....Gefle 0-1 Elfsborg. Shortly after in the first half the market was suspeneded for no apparent reason. No goal had been scored and there was no possible sending off situation, penalty etc.
At half time the market had been closed and settled. I checked my p/l and saw that my back bet on unders had been listed as a loss. I had been watching the match on Bf video where no score-line was shown so I checked all score sites/bookmakers....all stating that the game was 0-1.
I then rang Betfair to make them aware of the situation and he checked the score from other sources and accepted there had been an error on their part. The over/under 2.5 market prices indicated only one goal had been scored.
I was told that it would be unlikely that bets would be void and that they would be trying to reinstate the market asap.
The market eventually appeared after an equalising goal around the 68th minute and obviously showed as suspended for the remainder of the game. I also think that the 2nd goal was treated as a 3rd by Betfair as the over/under 2.5 goals market stayed suspended as the other markets re-opened.
I rang Betfair after the game to discuss this matter further and was told that the market had been settled incorrectly and that my bet would be void and the money would appear in my account within a few minutes.
There was no sign of the money after a couple of hours so I contacted them again to find that their views had basically changed and they were not liable. They accepted that the error was on their part but weren't voiding any bets.
I had my money returned as a good will gesture (stated as this in my p/l) as the stake was small.....not sure whether this would be the case if I was dealing with much larger stakes.
I've not got a problem with the way this was handled by betfair employees as they acted very professionally and reasonably and they were only following the Betfair guide lines/structures in place. I have received my stake back which I'm obviously grateful for as it looks a though they didn't need to do that.
I've got a problem that Betfair will not compensate bettors/traders who miss out due to their errors. If this was a pre-off bet and the game finished 1-2 then I would accept that I had lost but as a trader I feel a little peeved.
I would like to know what any other in-play traders feel about this.....surely this makes this method of trading too risky????
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you got a good outcome, why stir it up.
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...because if I'd been using larger stakes I would not have received any 'good will gestures'. We all know there are risks involved with short term in-play trading but most of these risks can be eradicated with care and sometimes money....such as back up computers on various networks, mobiles etc....but in this case there is no fault on my part and absolutely no way of limiting any losses. I've backed in a market to make a couple of tics and subsequently this market has suspended and then settled when this was a complete mistake. Whether there is a 3rd party who settle bets or not the blame lies with Betfair.
I'd have been sat with a huge loss which would have wiped out weeks/months of work. It's worth bringing up at least to warn others who intend or currently trade in-play. |
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I won't be trading low liquidity, low-key matches in the future.....I find it hard to believe that a mistake like this would happen on the big game of last night (Arsenal v Wigan) and if it did they definitely wouldn't take 45 mins to rectify it.
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