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Has wnybody else not had the reduction factor applied to lay bets in running for this race?
I backed the winner pre race, then laid in running and now have a net loss, the trading team are going to contact me via email, just wondered if anyone else had same issue?
I backed the winner pre race, then laid in running and now have a net loss, the trading team are going to contact me via email, just wondered if anyone else had same issue?
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Replies: 23
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Yes mate I have exactly the same. Backed Desert Cop pre race and laid in running. Thought I was £45 green and ended up losing on race.
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have you contacted the helpdesk?
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have you contacted the helpdesk?
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No not yet. Can't stand that live chat. Is there actually still a helpdesk? Will probably do it after racing. Have they got back to you yet?
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nothing yet. Surprised they haven't had more complaints, shocking really because some people could end up negative balance and not be aware.
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So they've applied the reduction to pre race bets, but haven't done so for in running? is that what's happenened. I just need to detail my bets to try to understand it before I contact them. Did you use live chat?
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I backed it and put up a lay before the start but I suppose it was only matched in running so not reduced. Halved my profit on the race.
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yes, that's what has occurred. If you go to your account, then settled exchange bets, you can see the ones pre race have RF underneath the bet id, but not the in running ones.
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Hope you get it sorted noobile, I'll be interested what they say if and when they contact you.
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I'll have a check. Thanks.
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So yours is wrong too sageform.
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Is it?
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If you backed it pre race you've had the reduction to your back bet, but the lay was taken in running, which weren't reduced. I think. Both should have had the reduction.
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Now adjusted, thanks.
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But not on my account statement so not properly sorted yet. Still showing a loss on the lay bet unadjusted.
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So has your in running lay had the reduction factor applied? Because mine still hasn't, and no contact whatsoever from them yet
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mine neither
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No. Win bet reduced from 14 to 8.9. Lay bet placed at 4 before the off and still showing that in my account statement.
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Just found this in the rules: Reduction factors are not applied to bets which are struck in-play.
In the event of a late withdrawal, Betfair reserves the right to remove the runner after completion of the race. In this case only those bets matched prior to the off will be affected by a reduction factor. This I didn't know, until now. |
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I suspected that might be the case. The real issue is the size of the reduction factor. I can see the logic but it is way more than rule 4. If you back a winner in a race with a late withdrawal, you are worse off than SP 99% of the time.
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Absolutely, it seems excessive. Not only worse off but from profit into loss. Anyway I'll be aware in future. I tend to lay too much back in running anyway, need to keep more of the pre race bet.
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Swings and roundabouts though. If you are on a losing run as I was recently, it is nice to get your stake back on the ones that finish second.
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True, maybe I'll just take the stake back more rather than trying to make a profit either way.
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