betfair's oldest market finally coming to a head

Have any of the runners died

Indeed. Do you know what the second oldest is?

2001-09-16

How does PC on winnings work in a market like this, since it started pre PC days?

I assume bets placed before pc will not be subject to it as bets were placed under the old terms and conditions.

iirc, when they first brought the PC in it didn't apply to winnings on markets set up before its introduction.

anyone with a better memory than me confirm that?

I joked about this on twitter.  I assumed we still pay and @Alexvanwrinkled has said he paid with PC1 on a market that was pre-PC.

I remember the discussion but not the final line viva, no doubt they would charge PC if nobody pointed it out

think of all the interest they will have earned on liabilities... that's going to massively outweigh comm

FROM 30/10/2009

"I will try to reiterate our position on long term markets and hope that will clear this up:



·         This applies only to markets that were open before PC launch on 22nd Sep

·         If a customer has not bet since 22nd Sep then he will not pay any PC

·         If a customer’s PC on any single event which settled after 22nd is a direct result of bets placed before 22nd Sep, he may be entitled to a rebate of up to 100% of PC debited and allocated to that market

o   If the bets placed before 22nd Sep are all losing bets, but by the time the event settles he is in a winning position then you will not be due a rebate on PC allocated to market

o   If the bets placed before 22nd contribute to a winning position which is then improved before event settlement, you will be a due a % rebate (profit as at 22nd / profit at settlement x PC allocated to market)

o   If the bets placed before 22nd contribute to a winning position which is subsequently reduced, you will be due a full rebate of PC allocated to market"

should be 30/01/09

and to clarify...should your win occur during a week when you don't actually pay PC, you won't get the refund or a full refund, and so you effectively pay it anyway.  I had a dispute with them over it because that is exactly what happened to me.

In fact to clarify it further, I think the only situation in which you get a full refund is if in the week in which is settled, you have no losing markets, which looks to have been the case with me.  My recollection is a bit hazy.  Looking at the email correspondence, I only got refunded £244 on a winning positions at the time of £2,400 (2 winning markets), yet still paid £585 in premium charges that week.

Imagine you bet in 3 markets and simplifying everything down to the basic principle

Market 1 lost 1k
Market 2 won £1k
market 3 won £1k (pre PC)

total profit on the 3 markets £1k

premium charge payable £200

refund given £100

You can see why I was angry!!!

Looking at some of the matched price on there is funny.

David O'Leary, Alex McLeish and Paul Ince have all been matched at 5.00.

what is the market? still open or closed now?

Looking at some of the matched price on there is funny.

David O'Leary, Alex McLeish and Paul Ince have all been matched at 5.00. Laugh

But whoever laid the bets has only earned 19% interest on his money over 10 years!

except

a) they probably laid more than one, and
b) once their book was green, the principal wasn't tied up

well what was this market by the way?

presume it's - who will be Alex Ferguson's replacement?  Can't find the market though

it was the next man u manager market and, after 12 years, it's been settled.

Most hated market by betfair staff :P So many workarounds to keep it working alongside more modern markets.

lol right didn't think about it. so whas it 'any other' that won or they kept adding candidates each year or the new manager was already between the selections in 2002?

they kept adding runners. they never have "any other" in NMMs

cheers