General Betting
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I had placed multiple back bets since January on Joe Biden - but of course since his poor performance during the debate with Trump, Joe Biden had decided to step down and let Kamala Harris be the running candidate for the election on 21st July.
So what happens to all the back bets for Biden now?
As he has dropped out, he technically didn't lose the election.
Can anybody who backed Biden prior to 21st July still get their money back?
So what happens to all the back bets for Biden now?
As he has dropped out, he technically didn't lose the election.
Can anybody who backed Biden prior to 21st July still get their money back?
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Replies: 21
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I backed Biden and 100 other people who won't be in the line up.
No one's getting any refunds. |
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So even though Biden backers technically didn't lose, they still don't get theor money back?
I and many other punters have spend at least £1,000+ on backing Biden so if nobody is getting any refunds that really unfair! After all, it's not their fault that their backed candidate dropped out. How is this even allowed? |
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I can't be sure that I see all the rules because of the way they appear on my screen, but they seem to have removed the clause about all candidates being in the market. Also in their additions to try and sort out a trump coup attempt, they appear to define "candidate" as someone who is garnering votes.
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I'll post the rules here for reference in case they're changed before settlement. I've not read them for a long time so don't know about any recent changes.
Which candidate will win the 2024 US Presidential Election? This market will be turned in-play at the stated time on the day of the election. Thereafter the market will not be actively managed. Customers are entirely responsible for their bets at all times. This market will be settled according to the candidate that has the most projected Electoral College votes won at the 2024 presidential election. In the event that no Presidential candidate receives a majority of the projected Electoral College votes, this market will be settled on the person chosen as President in accordance with the procedures set out by the Twelfth Amendment to the United States Constitution. This market will be settled once both the projected winner is announced by the Associated Press and the losing candidate concedes. If the losing candidate does not concede, or if there is any uncertainty around the result (for instance, caused by recounts and/or potential legal challenges), then the market will be settled on the winner decided by Congress, on the date on which the Electoral College votes are counted in a joint session of Congress. This market will be void if an election does not take place in 2024. If more than one election takes place in 2024, then this market will apply to the first election that is held. Once voting (whether postal, electronic or at the ballot box) begins in the year 2024 for the US Presidential Election 2024, the election will be deemed to have taken place for the purposes of this market. We will then settle the market as per our rules regardless of whether the election process is fully completed in 2024 or beyond. If there is any material change to the established role or any ambiguity as to who occupies the position, then Betfair may determine, using its reasonable discretion, how to settle the market based on all the information available to it at the relevant time. Betfair reserves the right to wait for further official announcements before the market is settled. Betfair expressly reserves the right to suspend and/or void any and all bets on this market at any time if Betfair is not satisfied (in its absolute discretion) with the certainty of the outcome. Betfair may suspend betting on the market at any time in the interests of maintaining integrity and fairness in the markets. Additional candidates may be added to this market on request. Please note that candidates in this market will not be partially settled and will remain in the market until it is fully settled. This is to allow customers to continue trading candidates that they have positions on and because each candidate is still a valid runner in this market. If any candidate withdraws for any reason, including death, all bets on the market will stand and be settled as per the defined rules. Customers should be aware that: Transmissions described as “live” by some broadcasters may actually be delayed.The extent of any such delay may vary, depending on the set-up through which they are receiving pictures or data. UK wallet Commission on this market 2% Market Base Rate |
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ok ty I couldn't see anything after "Additional candidates may be added to this market on request." due to my screen resolution.
Although I do think the addition of ".....and the losing candidate concedes. If the losing candidate does not concede,...." ignores that there are multiple persons described as "candidates" in this market who somehow become one candidate. |
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Has that 'losing candidate concedes' actually been added since the market began?
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So blank, if ANY candidate including Trump & Harris also either drop out or die before the 2024 Presidential Elections - there vote still would be voided or cancelled then?
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Bets don't get voided on any candidate no matter what happens. This is an 'All bets stand, run or not' market.
The Winning party market is for the 1v1 bets. |
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Has that 'losing candidate concedes' actually been added since the market began?
I remember seeing it a very long time ago, not sure if was there at creation. Tilts the market to Trump with everything else being equal. |
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Of course Trump won't concede, but I doubt Kamala will either if the Dems control congress and it is coming down to 1 or 2 states with a less than 1% margin (which it may well do)
There would be inquiries into 'voter suppression' and similar BS |
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That rule could have caused chaos in 2000..
Gore actually conceded and then withdrew his concession |
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Wow, maybe they will change it to the EC congress vote date if someone points it out.
I don't mind if there's a delay, been trading it over 3 years and I've read that people made a lot of money from the delayed settlement in 2020. |
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it's been added since 2020 along with the legal challenge bit, as they presumably think this sort out the issues they had last year. They should really just delete the para "this market.....Constitution"
They aren't going to close the market when Trump is coup plotting again, so the new para covers that and also covers if he by some miracle concedes. |
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Prior to 21st July, how much did any of you bet on backing Biden?
What did you end up doing afterwards? |
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£518 @ average odds 5.08
but also layed him £694 @4.15 There are no non runners in this market. If people drop out, drop dead, never start a campaign etc they are just losers. though I would never rule out betfair finding someway to void it all  |
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Interesting that the magas are saying one of their SC judges has gone a bit rogue, re voting decision in Arizona
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Wrong thread
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GeorgeBrush No it's not, look at the topic thread literally next to this one.
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Is it better to back Harris or lay Trump as of now?
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You backed a man with dementia. You can't say you didn't know you were gambling.
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