General Betting
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Can anyone please give me a clue when it comes to the way Betfair now settles its markets?
Before they suspended the outright market (Welsh Open Snooker) at the end of the Junhui/Bingham match my positions (all green) were as follows:-
Judd Trump: 804.70
Ding Junhui: 178.69
Stephen Maguire: 479.08
Stuart Bingham: 49.97
Now, since the market unsuspended, my positions show as follows:-
Judd Trump: 425.89
Stephen Maguire: 100.27
Stuart Bingham: 346.14 (Red)
Can anyone offer an explanation? ...Thanks in advance for your time, I appreciate it.
Before they suspended the outright market (Welsh Open Snooker) at the end of the Junhui/Bingham match my positions (all green) were as follows:-
Judd Trump: 804.70
Ding Junhui: 178.69
Stephen Maguire: 479.08
Stuart Bingham: 49.97
Now, since the market unsuspended, my positions show as follows:-
Judd Trump: 425.89
Stephen Maguire: 100.27
Stuart Bingham: 346.14 (Red)
Can anyone offer an explanation? ...Thanks in advance for your time, I appreciate it.
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Replies: 22
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has your show ...settled bets box been un-ticked?
go to options above the refresh button and click include settlled be bets. should be as it was. |
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Thanks for your reply, Lanza ...No, that"s not it - non of my settings have been altered.
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It looks to me like you had a straight bet of about £380 on Ding which wasn't showing. If this is one of the bets that you actually made, it could be that it went through twice (new setup does things like that, with people thinking bet didn't go through and thus reinput).
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Cheers, Andriy ...Thought you'd hit the nail on the head then, but have just checked through my bets that doesn't seem to be the case, either. Baffling.
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Did you lay Ding Junhui? It looks like your profit on Trump and Maguire has decreased by £378.81, which would be consistent with that amount being credited to you as the market has been partially settled early. Your account statement should show a profit?
However, the variance on your Stuart Bingham position is slightly more than £378.81, so it could be anything. |
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Thanks for your reply, The real Moaner ...Account statement shows a profit of £850 on the day (from the market in question). However, the plot thickens - despite placing no further bets when the market unsuspended following the conclusion of the next match, the market now shoes as thus:-
Maguire 445.50 (Red) Bingham 451.55 (Red) Worse still, my account balance now shoes as being minus - how the hell is that even possible??? |
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*shows*
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I presume this is because of a partly settled market and that the red is because you've been paid out more than your highest green so far.
Maybe I'm in a minority of one, but I'm not a fan of outright markets getting partly settled. I'd rather just wait until the entire market is complete. |
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But, again, surely it shouldn't possible to register a minus balance? Either you have the money to place a bet, or you do not? Also, what is the point of making trades here and there to better a position on certain players (based on the figures displayed on the live market), only for those positions to alter dramatically following the suspension/unsuspension of said market. Previously, when I've traded a market the amounts shown have always remained the same once the market has unsuspended - as they should do ..."New" Betfair - what an absolute shambles!
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I get account balance movements that I cannot explain on markets that partially settle, especially when I back all on an overbroke book, but have never had a potential green on remaining runners significantly change. A non runner is not the explanation as all bets stand and I am a loss to understand how that would happen unless they voided some bets for another reason.
Please post up what betfair say, I would like to understand this more. ty |
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Sorry to be a bit vague on this but someone else put up a post about this a while back, his problem was that his retained commission was greater than his original bank, I do remember that he had mentioned it to Betfair via the Betfair community manager who had passed it on to the development team, may be worth putting out a call to BCM2 for help
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It's possible to incurre a negative balance due to retained commission in partially settled markets, even if you are all green, but this isn't the case here.
If the OP is telling the truth(why shouldn't he), this is some real feck up from Betfair. |
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Darlo Bantam, ShirleyKnot, Llamedos and Eddie the eagle - thanks so much for your replies. I do actually have several screenshots to illustrate and verify my original post, but am unable to upload them here, it seems. I guess my only option is to try contacting Betfair and see how it goes. Either way, I very much doubt I'll be bothering with "New" Betfair in the future.
Thanks again, everyone, I appreciate your time. |
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hooperoo- I was in a similar situation on Thursday in a partially settled market (Cricket, women's world cup winner) England and NZ were removed from the market (I had fairly large 'reds' on each of them at the time of settlement) and afterwards my position was showing correctly in the market on the remaining two teams (-£30, +£120 ish).... However my available balance had decreased by approx £680, and my 'current exposure' was also showing a figure £680 larger than it should have been. There was no sign of the 'missing' amount in either current bets or in my profit and loss figures for the day.
After speaking to five different people at Betfair over a period of several hours they admitted they had settled the market incorrectly ''As single entities rather than as a complete market'' and they agreed to re-settle the market correctly which freed up the £680. Not sure if this is what they've done in your case but it might be worth contacting them and asking the question. Good luck! |
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sorry that should say ''As seperate entities rather than as a complete market''
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Nice. I'm looking forward to my positions on the Premier League being settled then...
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Thanks, tommycockles - wow, that's unbelievable, glad you managed to sort it out.
For me, it seems like a right mess. I began trading the outright market at the start of the tournament and altered my positions accordingly based on the numbers Betfair were showing me ?..I guess my biggest gripe is the fact that the amounts being displayed before market settlement, apparently, mean absolutely nothing, as they are then dramatically altered when the markets re-open - so what's the point? In this case, I deliberately increased my position on Trump (by laying off some of the profit showing on other players), knowing I'd likely be able to lay him back at odds-on during his match against Maguire (which, as it happens, would've been the case). Problem is, as you can see from my original post, when the market unsuspended, my position on Trump had practically halved and I was left with a large negative on Bingham, too! (I was still green on Bingham before the market suspended.) From then on, things just got worse following every market suspension. I have taken screenshots before and after every suspension to show this. Currently my exposure is £-451.55 (the largest of the reds on the two players remaining), and my account balance is showing a minus ...All this despite profiting by a little over £900 (according to my statement) on said market this week (and having placed no further bets on any other markets). It'd be easier to convey my point by showing the screenshots, however, as I say, I'm unable to upload them here ...But, needless to say, it stinks! Anyway, sorry for rambling on, tommycockles, and thanks again for your reply. |
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What bets do you have on Maguire and Bingham? Are the figures above a correct version of your individual liability on those two players? If not, then you might be alright. Either way, I'd be on the phone to customer services.
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Ring them and ask to speak to a manager and ask him to look into it for you. First question I'd ask is 'Can you explain why my account balance is showing a negative' and take it from there.
Not sure if it's just me but Betfair seems to be a complete shambles these days  |
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I'm on the end of a real feck up by Betfair. I'm not going to say what it was as in the process of (hopefully) getting it sorted.
My advice: query and double check everything. |
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Would be interested to see the outcome of this?
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Cheers, all, for your replies.
...Darlo Bantam, I'm still waiting to hear back from Customer Services regarding this matter - but, whatever the outcome, I'm finished with Betfair. Zero incentive these days (for me, at least) to wager here, versus the bookies. Thanks again, everyone. And good luck. |