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Storm Alert
28 Dec 11 17:13
Joined:
Date Joined: 22 Oct 02
| Topic/replies: 5,126 | Blogger: Storm Alert's blog
If Voler La Vedette had lost would there have been an investigation?

Which customer exceeded their exposure limit and how can your system allow this to happen?
Are there other occasions when a customer has exceeded their exposure limit and how has BetFair then dealt with matched bets?  Especially if the customer has gained by this?
How does BetFair know this wasn't an attempted scam. i.e. collect if horse loses and investigation if it wins?

The 29.0 was available was before the run-in.  At that time ATR was showing the race in the top left hand corner of the screen, the main race screen and commentary was Leicester.  I assumed Voler La Vedette was at the back of the field (similar colours).  In-fact it transpired she was mounting a challenge from behind the leaders. The explanation "Customers betting in-play on this race will have seen that Voler La Vedette was available to back at 29 when the in-running market was suspended, and that a considerable sum was matched on the clear winner at that price" is not the whole story as the odds were available for quite some time in the race.

BetFair need to be totally transparent about what happened, how it happened, who was involved and what action was taken in the past when a customer has exceeded an exposure limit.

Most BetFair customers are not being treated fairly during in-play markets (especially football) due to TV sporting transmission delays.  BetFair need to need to be transparent about which high value customers operate in-play, the bets they have and the exact time in relation to sporting action they have them.
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Report Kriskin December 28, 2011 5:16 PM GMT
The In-running market was NEVER suspended.  The race was managed properly apart from the odds being wrong for whatever reason
Report blackballed1 December 28, 2011 5:28 PM GMT
this is a pish i had the place betting market on my iphone while watchin on atr the price went upto 5. something for a place thought that was big even tho wasnt quite sure how far back she was so tried to bet 15 at the price unmatched so canceled the bet then all of a sudden she was 2.02 a place its true price i placed 40 on and matched at that 2.02 price and watched her win in the end even tho 2nd would have done then seen all this kick off something very fishy is goin on here and may i also say this was the 1st time i have placed an in running bet on a horse and will be my last disgrace if they get away with this!!!!!!
Report ocean0201 December 28, 2011 5:32 PM GMT
feckinng joke, betfairs jobs is to match bets and thats it,.. if someone had butter fingers or got sucked into something its their problem..

as a long term gambler (read loser), betfair have not dealt this well.. SHAME!!!
Report Storm Alert December 28, 2011 5:53 PM GMT
More questions for BetFair:

What criteria do BetFair apply to determine which bets made error can be voided?

Why is the customer not expected to honour the trade up to their account funds?
Report Lee Ho Fooks December 28, 2011 5:56 PM GMT
Also, you can place losing bets after the race has finished ("streaming") and you have no recourse for your losing bet to be refunded
Report ocean0201 December 28, 2011 6:02 PM GMT
Why is the customer not expected to honour the trade up to their account funds?

Storm Alert : Very good point
Report sugarfoot December 28, 2011 6:04 PM GMT
because he doesn't have £20m in his account perhaps?
Report duncan idaho December 28, 2011 6:05 PM GMT
c'mon lads....act your age....most palpable computer error ever....what you expect them to do, go 'ok, we'll stand the however many million?', just so a few chancers stop bleating....get over it and come back tomorrow Wink
Report ocean0201 December 28, 2011 6:06 PM GMT
sugafoot, if he has 5m or 5 pounds, let him trade to that .... he made a mistake, ,he should pay for it,...
Report Lee Ho Fooks December 28, 2011 6:07 PM GMT
OK Duncan, I'll accept that - now where's the harm in an independent enquiry?
Report ocean0201 December 28, 2011 6:07 PM GMT
if it was an error, the account should be blocked as he may do the same mistake again
Report barkinggreville December 28, 2011 6:08 PM GMT
they may be forced to stand the however many million by a court of law
Report duncan idaho December 28, 2011 6:09 PM GMT
Yep, i'd agree with that, Lee. The 29.0 dont make sense and the 21 mill dont make sense in my book.
Report barkinggreville December 28, 2011 6:10 PM GMT
the "customer was BF 1.000000000000000000000000000000000000000000000000001
Report Nige down south December 28, 2011 6:10 PM GMT
What i would like to know is what is the difference between this and what i did on my old account.

I meant to lay a horse at 1.1 before the last fence to protect my winnings in case it fell. I made a mistake and typed 11. It cost me nearly all my bank, i blew 4months profit in 1 day. I had to pay out so why is this different apart from the amounts being much larger?
Report barkinggreville December 28, 2011 6:11 PM GMT
I've already explained that Nige
Report egner December 28, 2011 6:12 PM GMT
i agreee with barking.
Report duncan idaho December 28, 2011 6:12 PM GMT
are BF in the habit of putting up £21 million lays, barking? that doesnt make sense either imo
Report Nige down south December 28, 2011 6:13 PM GMT
What did you say barking? Sorry i must of missed your explanation on another thread.
Report Nige down south December 28, 2011 6:13 PM GMT
Sorry its on here, ooops!
Report barkinggreville December 28, 2011 6:14 PM GMT
simply the post directly over yours
Report jozzer December 28, 2011 6:14 PM GMT
when i've made a mistake and laid a horse instead of backing it can i apply for a refund because i've made a mistake just the same as betfair
Report barkinggreville December 28, 2011 6:15 PM GMT
duncan either a bot glitch or less likely a disaffected employee
Report duncan idaho December 28, 2011 6:22 PM GMT
let's hope a disaffected employee spills the beans or we may never know for certain
Report VennOttery1981 December 28, 2011 7:00 PM GMT
Betfair can do as they please as shown with the PC, no mass move to the purple place but this latest fiasco really should make people think, doubt it will though.  People will bleet and still use this place.
Report Storm Alert December 28, 2011 7:02 PM GMT
duncan idaho

I sort of understand your logic, but I don't see why is the customer not expected to honour the trade up to their account funds?

I've made mistakes on BetFair in the past and it has been up to me to trade out or accept them.
Report egner December 28, 2011 7:04 PM GMT
BETFAIR T&C


Minimum and maximum bet stakes
Depending on the product or type of market you are betting on and depending on the currency that you are betting in, there are minimum bet sizes that apply. These minimum bet sizes are subject to change and may differ depending on whether you are on our site or using the Telephone Betting Service. You are not permitted to place bets or try to place bets that are below the minimum bet size threshold and doing so may result in your account being permanently closed.

Your betting limit is represented by the lesser of: (i) your 'Available to Bet' balance shown in your account and (ii) your ‘Exposure Limit’ (which is available in the “Account Summary” tab in “My Account”). However in the event that we process an offer for a bet or the acceptance of a bet in an amount outside the applicable thresholds, such bet will nevertheless stand

http://www.betfair.com/aboutUs/Terms.and.Conditions/#section6

"such bets will nevertheless stand".....hhhhhhhhhhhhhhhhmmmmmm really????
Report Kelly December 28, 2011 7:08 PM GMT
Betfair Customer Services have now clarified that the account posting up the "offending" bet offer was from a customer , not Betfair .

In that case bets stand in my book , unless Betfair failed to apply the clints proper exposure limit .  If that constitutes a Betfair flaw  , so be it  , debate begins .  If it was the customers fault , tough titty  , pay up .

Other documentation out there implies that even in case of over exposure , bets may stand .  If its a computer / system error by Betfair , matter becomes more complicated . Customers exposure then should be limited to their notated limit , rest is down to Betfair terms and conditions .

Think they jumped the gun in voiding the markets , dont think the matter will die today .
Report irish wizard October 17, 2020 4:38 PM BST
I never got anything -
Report shiny new shoes please October 17, 2020 4:54 PM BST
Nothing to see here,next.
Report punchestown October 17, 2020 9:44 PM BST
Goalposts are very portable these days...
Report ItsMeSwaddle October 18, 2020 12:55 AM BST

Dec 28, 2011 -- 6:10PM, barkinggreville wrote:


the "customer was BF 1.000000000000000000000000000000000000000000000000001


Laugh

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