Qwpzxjor1 Posted December 28, 2011 Share Posted December 28, 2011 Those who haven't heard, Betfair made a bit of a cock up today after putting up a clear winner at 28-1. They have voided all bets, citing obvious technical malfunction, on the race which has sparked outcry on the internet. It angers me that people think this bet should still stand, and angers me even more than the massive 'lets sue Betfair' campaign is being organised by people who have no idea how it works. Betfair are not liable for this payout. It was a technical glitch which meant that someone laying the bet somehow had an exposure limit (and ability to enter a negative account) of £600,000,000. I am not fully aware of the mathematics, but is it just me who think Betfair have actually just done the right thing by suspending all bets immediately. Yes, it was a cock up.. but I'm not actually quite sure what else they could of done (short of not letting it happen in the first place...) Link to comment Share on other sites More sharing options...
Qwpzxjor1 Posted December 28, 2011 Author Share Posted December 28, 2011 Of course, if it turns out this was Betfair betting on it's own markets (which I've always thought it conflict of interest anyway) then I'll change my mind. But people are actually campaigning for their obvious cheating risk-free bet to stand and for some sucker somewhere to get a bill for £23m. Link to comment Share on other sites More sharing options...
AVFCDAN Posted December 28, 2011 Share Posted December 28, 2011 Hard to make betfair the bad guys there when they voided the entire market thus losing all their commission for every bet placed on the race. Link to comment Share on other sites More sharing options...
ender4 Posted December 29, 2011 Share Posted December 29, 2011 Betfair were correct in voiding the whole market. They also confirmed that the account was a customer with no other relationship with them. Link to comment Share on other sites More sharing options...
Amsterdam_Neil_D Posted December 30, 2011 Share Posted December 30, 2011 Correct to do so, it's in the small print anyway. Link to comment Share on other sites More sharing options...
Recommended Posts