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Betfair SP rip off
Betfair SP rip off
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Replies: 63
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1.01 Mrs green is a, fat, bald, middle aged man who sleeps with his stinky dogs at night.
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betfair are shooting themselves in the foot with this,if BSP is sometimes lower than SP by a few points - no problem its swings and roundabouts,but to allow a high profile race be so out (i.e 10 points)then the bad publicity and lack of trust is too damaging to their future ,its just better to stump up the money themselves rather than stand their rightful ground,people feel ripped off - even though they havent been,as the odds are whatever they are,surely its better to cream 0.1% off the big price winners(much bigger than SP)and keep a continengy fund for low BSP s ,
if this happens more and more - then people will stop betting with them and take a price in the shops,if it only happens occaisonly - then stump the money up,someone isnt looking at the bigger picture. |
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When a race goes off, if you immediately click on the horse on the screen, the 'market information' page comes up, and on this page is the Betair SP. I don't see how they can change it, if it says 12/1, then you get 12/1. Whenever I have a multiple bet I take a screen shot of the BF SP as my horse go off, not had any errors yet. Then again, I didn't indulge in France yesterday.
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the page isnt 100% upto date - so your arguement is pointless,its based on trust and what usually happens ,i.e they tend to give better prices ,but you do expect near industry SP at the very least,customers shouldnt havwe to be taking screenshots to prove a case,surely betfair should be trusted better than that - if they arent ,they need to change attitudes .you cant have a ,take what you arwe given attitude ,if that reguarly becomes very low odds - it as to be within 20% of SP .customers forget all the extra BSP s - they just remeber the one bad one,if this had been returned 9/1 ,people may have grumbled but accepted it as part of the deal with getting bigger odds most of the time.
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exactly comingupthehill.
as soon as betfair realised what had happened they should have stated that there was a minor glitch and that the few people who backed the 12/1 winner would get paid the ISP of 12/1. it might have cost betfair only a few hundred, maybe even a few thousand to put this right, but you then have thousands of happy betfair punters who know that betfair will play fair with them. as it is now, not only the few folk who backed it are unhappy, but lots of others are unsure about when the next price rip off will happen and are wondering how dodgy is it to bet on multiples with betfair. this will almost certainly cost betfair a lot more in lost business than it would have cost them to put it right on the day. |
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has anyone put forward a theory as to why this has happened?
I mean, presumably, the normal odds on offer on Betfair prior to the off were in accordance with being slightly higher than Industry prices. Were they or was the price difference evident there too? Was it because of the confusion that ensues on Arc day re Industry taking their prices from Pari-Mutuel? But why that should affect betfair SP? |
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all I did was a £2 yankee and a few quid a win on each for an interest and my single was paid at 15.39 whereas my multiple with the same horse was paid at 3.05. quite a difference.
betfair are trying to claim that somebody came on late and bet the horse at all prices for big money but that seems highly unlikely. anyway it only cost me around £50 with betfair fiddling the SPs so I walked into town today and did my £50 multiple in Billy's shop so betfair would have got their £50 back today and had a customer for years to come. as it is, I need to re-open my Bet365 account. they didn't close it - I did because they resticted my single bets but they still take multiples. Just means I will get much bigger odds for my multiples and no deductions so it's win win for me. |
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I'm out. 365 for me from now on
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Outpost was your single at 15.39 a bfsp bet or was it taken in the live market before the off. What I really am asking id did bf have 2 sps, one for singles and one for multiples
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there is only one BSP returned, this is then reduced by 5% for multiples (including singles placed within the multiples platform).
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Thanks swifty
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so I think that betfair's explanation sounds reasonable - there is no profit for anyone in 'making' this happen . The person that lumped on just before the off certainly didn't score and he spoilt it for a lot of other people.
betfair the bookies will have profited but it is fairly clear and visible that they do not rig betfair sps on a routine basis |
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no , but also clear that it's little better than a tote dividend
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Nothing good ever lasts !
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perhaps this expains the lack of longchamp BSP results for longchamp as the waters are now mudded!
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I agree that the Betfair SP can be surprising at times but don't forget it always balances out at 100%. If, as suggested the odds were manipulated down, you would just have to lay every horse (in proportion) and you would always win. Basically, if you feel that SP was mean then stop backing and lay everything!
Longchamp was strange, some weird stuff, including 5 horses trading at 1.35 or less in the same race! |
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We have in effect now 3 possible price results on the befair platform which are last price, Betfair starting price and fixed odds of which only one price can be calculated but maybe the mechanism of working out the BSP at Longchamp was affected by another factor that made it difficult to publish correctly?
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bf_fananatic 09 Oct 12 00:22 Joined: 17 Jul 11 | Topic/replies: 7,116 | Blogger: bf_fananatic's blog
perhaps this expains the lack of longchamp BSP results for longchamp as the waters are now mudded! Absolutely, I hate it when you get home from the shops and discover you've picked up a bottle of Evian rather than Highland Spring... |
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closer to tap water on this occasion
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I believe Betfair are now reconsidering this glitch and are looking to make it right with their affected customers.
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Nightmare!
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How do you do multiples on the exchange,I thought Sportsbook only does this.
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Back in the day,
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They weren't *really* on the Exchange, you couldn't trade them actively.
It was just that before BF had a proper Sportsbook (and for a couple of years after) they offered Racing (*) multiples at BSP-5%, which were decent value IMO - but you were betting against BF, not another punter. (*) and I think Football multis too, but little/zero interest in that. |