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Tony Calvin: "It is an obvious error"
Tony Calvin: "It is an obvious error"
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Replies: 769
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The fella who layed at 999-1 soon after they had left the stalls at Wolver. Got stung for £250k.
As this was a clear error why did he have to pay out. The horse had just left the stalls and was in contention. I mention this as the position of the horse in the race has been used as a defence in this "clear" **** up. ??? |
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Absolutely right, Amanda
I've yet to place a losing bet that wasn't an error. Over the years, thousands of users have lost fortunes through Betfair Crashes/Malfunctions etc. We've all had to accept their rules and we all know we are COMPLETELY responsible for our actions. They are in deep sh1te here and I don't feel remotely sorry for them |
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Tony Calvin quoting "it was an obvious error in the fact that the horse was 28 passing the line" - When i looked up at the race 2 hurdles had been jumped and she was 29 in running - Was that an obvious error ??????? For all i knew she might have made a horlicks of the 1st 2 hurdles ????
 :excited:] |
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During the Chester May meeting betfair went on the blink and I noticed money disappearing from my account.
Looked through my account statement and saw bets placed on other sports markets. There was a £20 tennis bet placed at the same time I was trading on the Huxley Stakes. Just giving an example of the sort of nonesese that was happening. There were a few other bets as well. Mentioned it on here at the time but don't think anyone took me seriously as it only affected a few people and I'm not sure some people were aware of it happening. That's until betfair customer services released a statement about unauthorised bets and they were speaking to the customers involved. No one contacted me. So I was onto the Site Feedback forum all mental like...proper fuming. Sure enough I got a call and email from someone in IT who reassured me they'll look into my case. Thought - Wow awesome. Guess what...never heard from them again. got nothing back. Had to just suck my losses THAT WERENT MY FAULT even though BETFAIR ADMITTED it was their mistake!!!!! Can prove all of this btw with screen shots and emails. I'm sure betfair have the emails stored somewhere too. .... so Calvin's obvious mistake line is a load of c*ap as far as I'm concerened. |
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That's shocking ELG, disgusting infact AND.......... par for the course
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Not sure why people are crying over this, it seems like an obvious mistake.
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The fishermen are out
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I HAVE MADE OBVIOUS ERRORS IN THE PAST AND PAID FOR IT. THEY ARE IMO BEING VERY VAGUE "OBVIOUS ERROR, TECHNICAL" WE ALL KNOW IT IS STRANGE, BUT BE HONEST AND SAY EXACTLY WHAT HAPPENED, IF ITS MALICIOUS AS i EXPECT IT IS THEN ALL BETS SHOULD STAND.
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Surely it is just an obvious mistake though?
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NOT IF ITS MALICIOUS
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TELL US WHOS ACCOUNT IT WAS , IF THIS HAD BEEN A BANKING ISSUE THE WORLD PRESS WOULD BE ON THE CASE, WE ARE TALKING POTENTIAL £600MIL FGS
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What would make it malicious?
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IF THE ACCOUNT BELONGED TO A BIG BETTING FIRM AND THE EMPLOYEE HAD GONE ROGUE, DISGRUNTLED MAYBE , DRUNK WHO KNOWS
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So you'd expect to get paid if a drunk employee went rogue?
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Obvious mistake or not, why should the financial size of the outcome take precedent over everything that's gone before it
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Someone hacked the system and put up such obvious large figures so Betfair would know that they were doing it
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OF COURSE I WOULD EXPECT TO GET PAID IF AN EMPLOYEE WAS DRUNK, I HAVE PLACED MOST OF MY BETS WHILST UNDER THE INFLUENCE,WISH I COULD GET ALL MY LOOSING ONES BACK
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DONT FORGET THERE IS ONLY A DECIMAL POINT BETWEEN 29 AND 2.9 COULD HAPPEN, AND WOULD MAKE SENSE, THEN TOOK HIS EYE OFF THE SCREEN, GOD WHATS HAPPENING, ILL BUY BACK HEEEEEEEEEEEEEELP
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WHATS UP AM I GETTING TOO NEAR THE TRUTH
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Imo, it palpably comes under the palpable error rules which traditional bookies have
what i find very difficult are the excellent quotes from Tony (Calvin) reproduced above when someone, who did have the requisite money in their account, has made an obvious palpable error and got caught and lost loads one last thought, betfair's position would be much easier for everyone to swallow if they were utterly transparent as to how this craziest of crazy episodes ever occured and for such a long period of time, after all it takes sometime for a 3m event to be run. |
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WELL SAID HP. I THINK BIG COVER UP FOR MASSIVE CLIENT, AND PROB MASSIVE SHARE HOLDER. JUST COME CLEAN.
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Betfair is an exchange not a bookmaker ... the palpable error does not apply. If a similar mistake was made in any financial exchange (which is what you must compare betfair to) then the liability would stand and has done in the past.
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THIS COMPANY IS FLOATED ON THE STOCK EXCHANGE, SOMETHING AS BIG AS THIS HAS TO BE OUT IN THE OPEN, WHERE ARE THE FSA?
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anybody remember the clever clogs who thought they could lay all the players 1st goalscorer in the Carling Cup Final a few years ago between Arsenal and Chelsea. They layed Walcott at big odds not factoring in the fact that bets are void on players who didn't start and didn't get on the pitch before the goal was scored. Long story short they layed for way more than they had in their account and didn't have the money to pay out. I believe thise who backed Walcott did get paid though
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Reading that thread the other day
 The Monesaver thread..''i'm 1500 green on all players I'm going in again , what about you mate'' you cant lose ...What a bunch of greedy wallys, sceamed blue murder when they cottoned on. |
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billy
29 Dec 11 08:20 Joined: 10 Jul 06 I've yet to place a losing bet that wasn't an error. Over the years, thousands of users have lost fortunes through Betfair Crashes/Malfunctions etc. We've all had to accept their rules and we all know we are COMPLETELY responsible for our actions. They are in deep sh1te here and I don't feel remotely sorry for them Rate reply: I think you'll find a lot of support for your views billy. I don't think cusatomers of Betfair feel too much sympathy for them |
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Greatest thread of all time. Well worth a read. It's like a script from The Sting.
Part One First Goal Scorer Overround thread When they thought they had found FREE MONEY http://forums.moneysavingexpert.com/showthread.php?t=386063 Part 2 When they realised they are going to lose thousands http://forums.moneysavingexpert.com/showthread.php?t=386241&highlight= |
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It's a great pity ODIAAUI
I sang their praises from the rooftops (well not quite) once upon a time |
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thanks AD will have a read
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it is a error but a punter making the same error and losing £290 to win a tenner,the reply from betfair would have been 'tough'
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AD DO YOU WORK FOR BETFAIR
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No Teddy i do not.
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MMMMMMMMMMMM!
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Betfair shares fall further after £23m lay blunder
By Tom Kerr racingpost.com 9:53AM 29 DEC 2011 BETFAIR shares fell further on Thursday morning as the exchange firm was embroiled in controversy resulting from £23 million worth of voided bets the previous day. Having fallen over three per cent to 781.50p on Wednesday,Betfair shares were steeply down shortly after opening on Thursday morning, hitting a low of 738.63p before rallying slightly to 754.0p by 9.45am. The sell-off follows Wednesday's in-running fiasco, whereby Voler La Vedette, winner ofa race at Leopardstown, was available to lay in-running at 28-1 for millions of pounds. Over £1.6m was matched on the horse, meaning a theoretical payout of £23m. It is understood that the extraordinary events werethe result of a malfunctioning bot, controlled by a customer Betfair stated had no connection to the firm, and a technical failure at Betfair which allowed the customer to dramatically exceed their exposure limit. All in-running bets on the race were voided but angry customers took to message boards and Twitter to express their fury at the decision, with some proposing a legal challenge to Betfair's decision. It is the latest blow to the exchange operator, who listed at £13 a share in October 2010. The price embarked on a downward trajectory soon after and plumbed a low of 550p in August of this year. |
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Considering the effect on the share price they would have been far better off coughing up.
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This mythical £23m cold turn into a real £23 million loss. Shares Down 32.75pts (4.19%) total of 7.35% wiped of company value. Approx £5.5m
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The main issue for me is how much money the customer had in his account as this was happening(its fair to assume that it must be a large amount albeit not 600 million ) as betfair are saying the reason for voiding all bets is the customer did not have the funds to cover the liability, surely they can equally divide what money he did have in their account to all the bets that were struck ? therefore keeping in line with similar errors that have happened in the past and also giving everyone who bet the horse some sort of profit.
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Deeppockets, I take your point about comparisons with financial exchanges rather than bookmakers. I am not sure what the answer is. You may well be right. Do other financial exchanges not have the equivalent of the palpable error rule?
And yes, TeddyP, I agree wholeheartedly, the FSA should be involved already and finding out exactly what happened. It is very worrying that betfair did not shut down all in-running betting, because if this was a technical problem then surely they should have been checking to see if it could be repeated on other races. I think they know exactly the problem and it is that some clients do not have limits and one of these clients operators or bots made a big, big error. |
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so the more i think about it, my position has shifted!
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it could be they haven't even told Tony Calvin the truth
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