World Cup Betting story

[Newportlad]

Earlier today, whilst in work, i received the an e-mail from a friend which stated that Paddypower had the wrong odds listed on a world cup match.

The match in question was Sweden vs Trindad & Tobago.
The bet was for the first corner.
Paddypower were showing Trinidad as 4/11 and Sweden as 15/8 to to win the first corner.
Other bookmakers were showing the same bet as Sweden 4/11 and Trinidad as 2/1

This meant that a £100 bet on Sweden on Paddypower would win £187.50 + your £100 stake.
a bet of £100 on Trinidad on say Bet365 would win you £200 + your £100 stake.
You put a covering bet of £3 on no corners as 100/1

Whatever happened, you have a certain win.

My friend placed these 2 x £100 bets, and another friend placed 2 x £400 bets.

Once i got home from work, i immediately checked this out, only to find that Paddypower have removed the first corner bet totally from this game.

My friend has just rang me to inform me NOT to place this bet, as their bet has now been made VOID.

So i now have 2 friends devoutly praying that Trindad & Tobago win the first corner tomorrow...

[Bongo]

Bit bad that they have voided the bet purely because they put the wrong odds up.

What's the legal stance on that?

[Karabiner]

How can Paddy Power decide that a bet placed in good faith at their advertised odds is void.

Your friends should write to the Racing Post where they have arbiters for betting disputes imo.

I mean if your friends had placed a bet in error because they were pissed would they be able to get their money back ?

[Newportlad]

Just spoke to my friend, who has rang Paddypower.
They have offered him a £20 free bet, which IMO is not good enough.

[Royal Flush]

Just spoke to my friend, who has rang Paddypower.
They have offered him a £20 free bet, which IMO is not good enough.

why dont they just buy he bet?

[Royal Flush]

Just spoke to my friend, who has rang Paddypower.
They have offered him a £20 free bet, which IMO is not good enough.

why dont they just buy his bet?

[thetank]

It's not as if they were sticking on 10s of thousands ffs. I don't see why PaddyPower felt the need to void these bets.

Bad paddy power, naughty paddy power. They need to stand in the corner for a bit and think about wot they did.

[Dewi_cool]

Same thing happenned to me with a horse, Will hill offered 10/1 on a horse in morning, (should have been 5/2 fav) I duly put on my £100, horse won the 10/1 was made void and they gave me 3/1 as a goodwill gesture.  T&C say that if they make a mistake in posting odds they can make the bet void.

[Teacake]

  T&C say that if they make a mistake in posting odds they can make the bet void.

This has always been the case so I dont really see what everyone is complaining about. It was an obvious mistake that this guy has tried to take advantage of. Hard chucks IMO.

I also think that Paddy Power is excellent for customer service & their specials are second to none, they're pretty innovative on the whole

[thetank]

Re-read it, missed the fact that all bets were placed with the same institution. I originally thought they found some inter-bookie arb.

Paddy Power, you can come out of the corner now.

[AndrewT]

Bit bad that they have voided the bet purely because they put the wrong odds up.

What's the legal stance on that?

As you can imagine, the bookies have a get out clause for these situations - it's called the 'palpable error' rule. Essentially, if they advertise a price which is clearly a rick, they don't have to honour bets on it. Any time you see a price which is clearly and obviously wrong by a long way, don't bother rushing to put your house on it - you won't get paid out.

[ACE2M]

Bit bad that they have voided the bet purely because they put the wrong odds up.

What's the legal stance on that?

As you can imagine, the bookies have a get out clause for these situations - it's called the 'palpable error' rule. Essentially, if they advertise a price which is clearly a rick, they don't have to honour bets on it. Any time you see a price which is clearly and obviously wrong by a long way, don't bother rushing to put your house on it - you won't get paid out.

only bad to do this in an arb situation where your arb gets killed if bets void. If it's just a rick and you back it straight then it doesn't matter if your bet gets voided. One european bookie fairly regularly leave their lines up after matches have started or concluded and if you don't take the piss with your bets you can often get paid out on the winners.

[Bongo]

Re-read it, missed the fact that all bets were placed with the same institution. I originally thought they found some inter-bookie arb.

Paddy Power, you can come out of the corner now.

Eh?

Wasn't one bet with Paddy Power and the other with Bet 365?

[bolt pp]

If its just a misprint or other admin error then andrew t hit the nail on the head.

I remember when derick mcgovern, the sports betting tipster for the mirror, had a coup that was along these lines.

It was a scottish cup football match.

the bookmakers had priced up the total goalscorer points without taking into consideration that they wear different numbers in scotland for the cup matches.

He bought heavily on goalscorer points knowing they were all wearing numbers like 28 and 37 then highlighted the bookmakers mistake to them afterwards

Nice to be able to rub their noses in it afterwards though!!.

It was just indifferent investigation of the facts on behalf of the bookmakers that led to this eroneous market, thus they had no recourse for recompense and the bet had to stand, this is different though.