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Obliged to payout?

  • 17-01-2013 12:11pm
    #1
    Dickerty
    Registered Users, Registered Users 2 Posts: 7,872 ✭✭✭


    Would like some advise. I was checking some tennis prices on BF's iPhone App this morning, and there were some too-good-to-be-true prices on some of the men to progress to later rounds. I pounced on them and have a number of bets matched, which would turn a very tidy profit.

    My question is - are Betfair obliged to payout if they realise an error in the prices? They were certainly too generous, but I played a bet and it matched at that price, so are they legally obliged to honour the bets?

    I read that they had a big mess-up at Leopardstown about a year back where they cancelled a ton of in-play bets, but that seems to have been an isolated incident...

    Thanks!


Comments

  • #2
    zarquon
    Registered Users, Registered Users 2 Posts: 3,734 ✭✭✭zarquon


    If the bets are matched then you are safe. The lay odds were set by other members so the odds are independent of betfair.


  • #3
    ArmaniJeanss
    Registered Users, Registered Users 2 Posts: 13,606 ✭✭✭✭ArmaniJeanss


    I fear you may have misunderstood the market if its the 'player progress' market.
    e.g., 'Federer 3rd Round' is 5/1 which looks standout as he's likely to reach the third round.
    However if he reaches the 4th round then the 3rd round bet is a loser !


    It's really more of a 'which round will he be eliminated in?' market.


  • #4
    Oscars Well.
    Closed Accounts Posts: 1,285 ✭✭✭Oscars Well.


    zarquon wrote: »
    If the bets are matched then you are safe. The lay odds were set by other members so the odds are independent of betfair.

    Wasn't the case with the mix up over Voler La Vadette a couple of years ago.


  • #5
    ianburke
    Registered Users, Registered Users 2 Posts: 691 ✭✭✭ianburke


    the account who kept laying la vodette didnt have 26 million to payout it was a glitch. i reckon armons theory may be right.


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