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omen666
Quads


Joined: 08 Aug 2005
Posts: 1744
Location: London
PostPosted: Wed Dec 28, 2011 6:26 pm
Post subject: Betfair		 Add User to Ignore List Reply with quote
Discuss
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Nem
Moderator


Joined: 26 Apr 2005
Posts: 17167
PostPosted: Wed Dec 28, 2011 7:02 pm
Post subject: Re: Betfair		 Add User to Ignore List Reply with quote
Quote:
There were bizarre scenes in Betfair's in-running market for Voler La Vadette's win in the woodiesdiy.com Christmas Hurdle at Leopardstown.

A total of £1,642,094 was matched at 28-1 on the winner, who went off the 13-8 favourite on-course and won very easily.

Even more strangely, the Betfair graph showed over £21million was offered to back Colm Murphy's mare at those odds, even though she was always in contention and looked the obvious winner even before the final flight.

This meant one layer could potentially have lost £600million in only a few minutes if all of the money had been matched.

Betfair suspended the market in order to investigate, with many of the exchange's members in a state of shock on the website's forum
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Koumari Boy
Full House


Joined: 21 Nov 2003
Posts: 1015
PostPosted: Fri Dec 30, 2011 3:20 am
Post subject: Re: Betfair		 Add User to Ignore List Reply with quote
The main problem we all have is how many times has this happened in the past for lesser amounts where time and time again people have been allowed to rob others by matching bets after a significant event has taken place in running or after a result is known?????

How can you trust a firm run by spivs and wide boys who have blatantly lied in their follow up public damage limitation statement where they claim nobody has credit and admit to having bots working for them and worst of all claim they are completely open and transparent.

They are providing markets in which they are actively competing with their own customers which is a clear conflict of interest and even worse they probably have an unfair advanatage over their own customers too.

What about client funds and the trust deed? Have they given any clients guarantess that the money is safe and not been invested in any valueless governmet bonds within the EU?

They have been found wanting on numerous previous ocaissions and yet they hide behind their claim that they are just offering a product for one individual to take on another and are not bookmakers when the reality is they are robbing their own customers in their own markets as they arent ssatisfied with just the commissions and when Peter robs Paul they take their cut via the premium charge and say its the customers responsibility to make sure he isnt betting after the event or when a significant event has taken place.

A totally corrupt and untrustworthy company that needs to be legally challenged to find out the extent of the thievery that is going on because the gambling commissions in Gibralter and The UK dont seem to want to do their duties when it comes to protecting clients and regulating and supervisiing these vermin that need exterminating.
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_doubleup
Flush


Joined: 15 Apr 2005
Posts: 587
PostPosted: Fri Dec 30, 2011 6:21 pm
Post subject: Re: Betfair		 Add User to Ignore List Reply with quote
donno why ppl r still using them tbh. You can get football bets at online bookies on 102.5% books. If you back horses early, the bookies give best price offers and if you back them late betdaq are just as good.
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The Reverend
In Rhythm


Joined: 27 Aug 2004
Posts: 6033
Location: In Rhythm
PostPosted: Sat Dec 31, 2011 9:23 pm
Post subject: Re: Betfair		 Add User to Ignore List Reply with quote
Their claim it was a 'bug' is hilarious. I'm sure it was, but one in a bot, not Betfair's exchange. It's certainly possible, if not likely, it was one of Betfair's bots. Something tells me your average customer wouldn't be getting a refund if their bot went haywire though.

Can someone replace Gibraltar and Alderney Gambling commissions with Casino Meister please.
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The Dean
Straight Flush


Joined: 02 Feb 2007
Posts: 3115
Location: with position on you
PostPosted: Sun Jan 01, 2012 1:05 pm
Post subject: Re: Betfair		 Add User to Ignore List Reply with quote
Bots are not necessarily bad as they add liquidity. The old "pareto principle" applies on Betfair and the vast majority of the liquidity will be distributed amongst a small percentage of accounts. If anything happens to disrupt that then they may feel that they actually need them although if thats the reason then its worrying.
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