Matt Williams

Betfair now suggesting we go to IBAS. Maybe we should, what if they find in punters' favour? This gets better by the minute

ATTHERACES EMAIL ADDY PLEASE ANYONE

so from that interview...

- he still has no idea why it happened which is quite disturbing
- punter won't have kept the winnings if VDV had lost
- still rehashing the obvious mistake line
- suggested we all knew what was going on and were just capitalising on the obvious mistake
- hiding behind T&Cs
- blames it on a relatively junior member of staff
- its pure fantasy that it was someone with unlimited credit
- says to ignore the conspiracy theories
- punter is apparently small time and not anywhere near the £1m bracket
- doesn't want to confirm its a bot or enterned manually
- says its a complete 1 off...first time in 12 years...limited to 1 specific account. Wont happen again.
- would welcome the gambling commish to come down and look at the books
- floated the idea of ATR popping down to see what happened when they complete their investigations
- if anyone is upset then they should go to IBAS

hopefully i didnt miss anything.

TC could show James Murdoch a thing or two about answering to the select committee

760.00

-21.50

-2.75% plus the 3% it lost from 2pm yesterday. Correct me if I'm wrong but that's a lot of millions wiped off because of some nasty person

I can't understand how stupid people on this site are. Considering you regularly use the site, people should understand how it works. The was a system error which lead to a high exposure to this bet. This was quite clearly an error which I'm sure they will try to fix.

With regard to betfair screwing you over, you're stupid. They take a percentage of all winnings, therefore if there were legitimately 600mil worth of winnings, betfair would be very happy too. However, this lay was an error, those odds should have been taken off as soon as the exposure limit was reached. It wasn't and these high sums were bet. Get over it, if you didn't realise during the bet that something was wrong then your an idiot, if you think you've been screwed over you're an idiot.

Tony Calvin with Matt Chapman been re-run NOW on ATR

junglist21  - joined TODAY

Jog off tw*t

Eastlower Gooner

Did he also said nobody has a credit account?



goggles15 29 Dec 11 11:01
elisjohn     28 Dec 11 22:49
p s the bookies etc might even have just asked for 2.3 million on and you know how stupid staff are these days might have added a couple of zeros,this might not be a problem for accts holders with no limit on credit.   

£230000.00 was probably the figure intended and yes there hills/laddies and no powers do have extremely high credit levels bordering on the no limit zone

A 55p price drop wipes about about £59 million from the company value (if may calc are correct)

I'M SURE THEY HAVE SOME LIMIT..No LIMIT £600 million, i wouldn't even give that limit to Shike Mohammed

I was typing out the interview for future reference then stopped after 2 minutes when I realised he was just repeating the same thing over and over.

I think his exact words when Matt pressed him on the credit account for this customer was something like -

Matt, the idea of anyone have unlimited credit is just pure fantasy.

then he issued warnings about listening to the conspiracy theorists and forums and blogs about the subject.

It'll be on shortly on ATR

JUNGLIS ARE YOU CALVINS MUM

Firstly, we would like to re-iterate that anyone betting in-running in yesterday’s Leopardstown race clearly received a very poor customer service and betting experience. We apologise once again for this.

Tho you could take out the
in yesterday’s Leopardstown race

Betfair defend position as Voler storm rages on

BY STUART RILEY RACINGPOST.COM 29 DEC 2011

THE furore over the £23m Betfair void bets fiasco showed few signs of abating on Thursday when spokesman Tony Calvin made a long and impassioned defence of the betting exchange's position.

The firm came in for criticism after it voided all in-running bets on Wednesday's woodiesdiy.com Christmas Hurdle at Leopardstown, won by Voler La Vedette, after an incredible lay bet on the winner at odds of 28-1 left a punter facing a theoretical £23m payout.

With criticism mounting and the company's share price continuing its dip of the previous day, Calvin, interviewed on At The Races, tried to alleviate concerns, blaming a "technological fault" for the incident.

Betfair customers heard Calvin confirm that Betfair ran in-house bots (robots, or automatic betting systems) and also apparently seek to blame a junior staff member, while falling short of explaining in detail what actually happened more than 28 hours after the incident despite "an in-house investigation".

Calvin said: "We immediately launched an investigation into what happened and it transpired a technology fault allowed a customer to exceed their exposure limit, so in accordance with our terms and conditions we voided the market.

"For the first time in my tenure the system failed, but there was a unique set of events that allowed this to happen, which is highly embarrassing and an unacceptable betting experience for people.

"The reason this has happened will come to light and we will post a full explanation when we have the information. It will be highly technical but we will publish it in full when we have that information."

Calvin conceded, when asked for details of the huge transaction, that "given the nature of the trading I would suspect it would be [a bot]".

He ruled out the possibility of sabotage and denied that any customers were betting on credit, before adding: "If this were to happen again I'm sure in hindsight we would suspend the market the instant the money appeared, but you've got to remember you've got a relatively junior person in position making that massive call."

On the subject of  the integrity of Betfair, Calvin said: "If the Gambling Commission want to come and have a look that's fine, we're always honest and transparent."

He also suggested punters who were unhappy took the matter up with Ibas, the Independent Betting Adjudication Service, which on Thursday said that it had sent out 25 adjudication forms to aggrieved punters.

However, citing "commercial sensitivity", Calvin refused to elaborate on the bots in use by Betfair in an interview which did little to ease the concerns of irate punters.

Hole got deeper

It was the IRISH Governments betfair account they were trying to pay back the money they owe to the IMF/ECB

feel sorry for him. how do you explain something you don't understand to the satisfaction of a bunch of people who are too fick to understand it?

Tony Calvin to Chappers....

"Our door's always open"

...ermmmmmm...except when its not.....

Betfair pantomime sidesteps the critics

http://www.telegraph.co.uk/finance/comment/alistair-osborne/8782920/Betfair-pantomime-sidesteps-the-critics.html

Bounced from Betfair's annual meeting

http://www.guardian.co.uk/business/2011/sep/22/bounced-from-betfairs-annual-meeting