http://www.racingpost.com/news/hors...ry-as-betfair-void-bets-in-lay-fiasco/968454/
If this was a sportsbook, which offered blatantly wrong odds, this would be a different matter.
But in the past betfair always insisted that every customer was responsible, which odds he backed or layed and therefore matched. So because of that they never voided any bets if somebody mistyped or made any similar mistake (f.e. offering 29:1 instead of 2.9 by misplacing the .).
In this case now it seems like the mistake was made by betfair themselves (or more specifically by one of their market makers) and therefore would have hurt betfairs bottom line (if a "normal" user mistypes, they earn their commission anyways). So all of the sudden they claim "obvious false lines" and void the whole market.
Reason why I'm pretty sure it was one of their market makers and no 08/15 account, that made the mistake: No "normal" user has that much money in his betfair account, to cover the risk amount of the bet that was offered here. So even if the user was able to risk more money, then his own risk limit allowed, his account balance would have kept him from offering that insane risk/bet.
In my opinion this is really shady behaviour by betfair, especially since I'm quite sure they would have insisted on the customers reliability one more time, if that horse would have fallen down at the final obstacle and therefore wouldn't have won but f.e. finished 2nd (in that scenario their market maker makes a fortune and betfair gets a huge cut because of their commission/fee)....so you could call this pretty much "betfair freerolling their customers on this race"
If this was a sportsbook, which offered blatantly wrong odds, this would be a different matter.
But in the past betfair always insisted that every customer was responsible, which odds he backed or layed and therefore matched. So because of that they never voided any bets if somebody mistyped or made any similar mistake (f.e. offering 29:1 instead of 2.9 by misplacing the .).
In this case now it seems like the mistake was made by betfair themselves (or more specifically by one of their market makers) and therefore would have hurt betfairs bottom line (if a "normal" user mistypes, they earn their commission anyways). So all of the sudden they claim "obvious false lines" and void the whole market.
Reason why I'm pretty sure it was one of their market makers and no 08/15 account, that made the mistake: No "normal" user has that much money in his betfair account, to cover the risk amount of the bet that was offered here. So even if the user was able to risk more money, then his own risk limit allowed, his account balance would have kept him from offering that insane risk/bet.
In my opinion this is really shady behaviour by betfair, especially since I'm quite sure they would have insisted on the customers reliability one more time, if that horse would have fallen down at the final obstacle and therefore wouldn't have won but f.e. finished 2nd (in that scenario their market maker makes a fortune and betfair gets a huge cut because of their commission/fee)....so you could call this pretty much "betfair freerolling their customers on this race"
