U.S. Horse Racing
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Anyone got any stories of seeing this? I have heard of this happening but saw it for the first time last night. The 11.20 at Golden Gate last night, fav went off ISP of 5/2. Betfair SP was 2.33. The market didn't go in play until the last 10 seconds of the race. The market was obviously all over the place before that, with the race off and the market not in play. The SPs didn't reflect the prices pre race. I presume there are sharps who wait for betfair to mismanage markets like this and then profit off it since betfair don't rectify the mistake and settle the market as it. A 5/2 shot paying 2.33 on here and betfair seeing no problem with it... what can you say. The only thing I can say is, if you're a backer betting on US races, you'd be mad to take the betfair SP.
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correction, it was the 2nd fav that went off 5/2. Ended up being the fav on the betfair market and the 2nd fav elsewhere. Betfair don't see a problem with it...
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well they did void the bets made while the race was off but the market wasn't put in play and then readjusted the SP. Gotta give them credit for fixing it. I wonder if the races going in play is automated by a system or is done manually?
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all suspends are manually done, hence loads are late , missed, suspended after one circuit, suspended late etc, unfortunately operated by half-blind half-a-brain deaf monkeys
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I'm surprised they did void it, think they did it just after lunch as well (more than 12 hrs later), do they manually review these things the next day or does it take someone to complain and then they look into it?
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someone clearly complained, it cost me £700 on the reversal, I had suspicions something was amiss but it showed green and race closed on time. Utter shambles market management pre-, during and post-race.
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"1.4 Horseracing and greyhound racing markets - not suspending at the time of the 'off'
In relation to markets which are scheduled to be turned in-play, Betfair aims to use its reasonable endeavours to turn such markets in-play at the time of the 'off'. The time of the 'off' for such markets should be set out in the Market Information. However, regardless of what it says in the Market Information, Betfair does not guarantee that such markets will be suspended and turned in-play at the time of the 'off'. If a market is scheduled to be turned in-play but Betfair does not, at the official time of the “off”, either (i) turn such market in-play or (ii) suspend the market and cancel unmatched bets, all bets matched after the official time of the “off” will be void. If a market is scheduled to be turned in-play but Betfair does not suspend the market at the time of the “off” (so unmatched bets are not cancelled at that time), but the market is intentionally turned in-play at a later time during the event, all bets matched after the official time of the “off” will stand, except for Australian Horse Racing, where all bets matched after the “off” but before the point in time that Betfair turns the market in-play, will be void." The race went in-play significantly late but it was in-play for a period before the race finished. So from the above highlighted rule, why were bets voided on this market, can anyone explain? |
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Seems to me if not many people get burnt, then they'll settle.
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nifty, it seems your bets should have stood based on those rules! you should contact them
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wisewords, I've had contact but they are having none of it, claiming race was voided as per the rules, but offered a small exchange bonus for full and final resolution! Only next step was ADR but I lost the will to live trying to get true communication with them.
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what's the justification for voiding the whole race?
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They are now claiming the race wasn't put in-play until it had finished. It was definitely in-play for a short period, 10 seconds according to pulio, I thought a bit more personally but under the 'rule' any amount of time should see bets stand unless on Australian racing. Personally I disagree with the rule but a rule is a rule and should be followed in all cases. It leaves Betfair open to accusations that some of their 'home' bots came out of the race badly hence the voiding.
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I remember that one, think it was about 1f out so 10 secs doesn't sound far off, BF either have skin in the game or a big liquidity provider/person gets stung and threatens to pull out if not voided.
It could be that there is another T&C clause that says that BF can override any other clause at their own discretion perhaps? |
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I actually remember getting stung at Hawthorne a while back, race went in-play as normal at the start but then about 20 secs into the race they decided to put it pre-off again until the final yards where they went in-play again...nothing was voided.
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R8 Pimilco tonight. Only put in play as they rounded the corner for home.
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nowt traded pre or during so BSP looks ok so they'll let that one go. Sorry state of affairs.
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Its all about the BSP, if that looks out of whack they'll change it, otherwise its all fair game.
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R2 Mountaineer last night only put in play has they neared the finish line. All trades settled soon after.
Just seen my trades voided there. Another fine example of no consistency whatsoever! |