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advise needed, do they need to honour the bet
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Topic: advise needed, do they need to honour the bet (Read 6201 times)
vegas2011
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advise needed, do they need to honour the bet
«
on:
May 07, 2011, 12:52:52 AM »
Hi All
I went onto ladbrokes tonight and placed quite a large bet on djorkovic to win his match against ferrer at a shortish price. I looked a few minutes later and saw Djorkovic had now gone out to 7/4 to the match which was a big contrast to the 2/7 on offer before. I wasnt sure if the sky coverage was delayed and there been an early break as the players were warming up on my screen so slapped £400 on Djorkovic at the 7/4 available. A couple of minutes later ladbrokes pulled all the markets on this before reintroducing betting around 10 minutes later.It was a tense and nervous match as djorkovic won it in 3 sets to my delight as i rubbed my hands at the prospect of a big win. It took ladbrokes well over an hour to settle the bet and to my disgust they had only returned £560 back into my account (presumably this is the price it should have been). I have emailed ladbrokes to complain and await there response. If they refuse to pay the rest what legal grounds have I got and who should i contact to complain. At no time did they contact me during the 2 and a half hour match to offer to cancel the bet and i wouldnt of placed this bet at the odds they have tried to give me.
Any advise would be appreciated.
thanks
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Longy
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Re: advise needed, do they need to honour the bet
«
Reply #1 on:
May 07, 2011, 12:59:07 AM »
Wasn't following the match so don't know whether Djoko was ever a reasonable dog at any point to make 7/4 a realistic price.
If not it sounds to me like a palpable error, where someone has accidently put in 7/4 instead 4/7 etc. If so the bet is void.
You can go to IBAS about it, once you have persued Laddies without any further success. If you are stubborn enough they may just payout as a goodwill jesture, though this probably depends on how much action you have given in the past (mainly losing action helps!)
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vegas2011
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Re: advise needed, do they need to honour the bet
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Reply #2 on:
May 07, 2011, 01:05:35 AM »
Plenty of losing action, will it help that i have 7k in my account , i placed some bets after the djorkovic bet came in so would i be able to demand these are cancelled as i only placed them once i knew i had won on novak. 7/4 wasnt really a realistic price but they did offer it and i took it so surely they have to honour the bet. If not can i say to them the 5/1 I took on sheffield wednesday for the league with them wasnt a realistic price and demand that money back to.
thanks
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outragous76
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Re: advise needed, do they need to honour the bet
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Reply #3 on:
May 07, 2011, 01:07:22 AM »
I know nothing about betting but this is disgusting unless they would return the bet in full if you lose?
Simple contract law is offer, acceptance, consideration (money).
Unless the price is simply redic (like 1000/1 instead of 10/1) I'm not sure how they get away with it
Id take it all the way unless they can prove they refund losing bets
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outragous76
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Re: advise needed, do they need to honour the bet
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Reply #4 on:
May 07, 2011, 01:08:42 AM »
And you make my points in your 2nd post!
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outragous76
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Re: advise needed, do they need to honour the bet
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Reply #5 on:
May 07, 2011, 01:09:31 AM »
Oh and sick barge btw
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vegas2011
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Re: advise needed, do they need to honour the bet
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Reply #6 on:
May 07, 2011, 01:13:36 AM »
Who do i threaten to speak to if they try any funny business. Ive got a feeling i will be having along drawn out argument with customer services but wont back down.
Any more help or advise appreciated as were talking a 540 difference here.
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AndrewT
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Re: advise needed, do they need to honour the bet
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Reply #7 on:
May 07, 2011, 02:18:31 AM »
Palpable error - they'll settle the bet at what the odds should have been at the time. If you kick up a fuss they may give you a free bet or something, depending on how much of a loser you are.
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redarmi
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Re: advise needed, do they need to honour the bet
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Reply #8 on:
May 07, 2011, 03:27:15 AM »
You basically have no chance of getting paid at the 7/4. It is a massive difference and clearly an error. It is actually a much bigger difference in percentage terms than Guys example of 10-1 and 1000-1. In real world terms it is a bit like going to Curry's and seeing a 40inch
TV with a pricetag of 19.99 when it should clearly be 1999. You wouldn't expenct them to honour the 19.99 when you got to the till. All that said they were somewhat remiss to not give you the option of voiding the bet before the event started. The best course of action on your part (and most +EV) would have been to alert them at the time to their error. When I ran sportsbooks I would always give something to punters that did that rather than try to rape us.
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redsimon
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Re: advise needed, do they need to honour the bet
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Reply #9 on:
May 07, 2011, 05:53:26 AM »
Quote from: outragous76 on May 07, 2011, 01:07:22 AM
I know nothing about betting but this is disgusting unless they would return the bet in full if you lose?
Simple contract law is offer, acceptance, consideration (money).
Unless the price is simply redic (like 1000/1 instead of 10/1) I'm not sure how they get away with it
Id take it all the way unless they can prove they refund losing bets
Does contract law able to gambling, i.e are all winning bets legally enforceable?
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Hairydude
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Re: advise needed, do they need to honour the bet
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Reply #10 on:
May 07, 2011, 06:47:35 AM »
Sorry but........... ADVICE!!!!!!
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Hairydude
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Re: advise needed, do they need to honour the bet
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Reply #11 on:
May 07, 2011, 06:55:26 AM »
Ps I thought all bets.... never mind error or not aren't enforceable cuz they are gentlemans agreement rather than contract or is this old news?
I would go down the redarmi route but also don't let them fob you off easily keep on at them
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Horneris
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Re: advise needed, do they need to honour the bet
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Reply #12 on:
May 07, 2011, 07:12:52 AM »
Whole thread is just a brilliant needle to Matt50, SweetPotato, Milligan84 and StuHopkin.
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outragous76
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Re: advise needed, do they need to honour the bet
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Reply #13 on:
May 07, 2011, 07:35:55 AM »
as i said i know nothing about gambling. With this palpable error, would they have refunded had the bet lost?
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redarmi
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Re: advise needed, do they need to honour the bet
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Reply #14 on:
May 07, 2011, 08:04:57 AM »
Really the best and most honourable route is for the bookie to contact the punter and offer the option of voiding or keeping at the correct price but you don't always spot it before the event has started and obviously it is a bit disingenous to void a bet halfway through an event. In cases like this I think the best option is for the bet to stand at the correct price but it does leave you wide open. One point I would make however is that some bookies have been known to use this palpable error rule when they have screwed up their prices. It is only palpable error if it is clearly a mistake/typing error. Not if that is the price the odds compiler came up with and then after taking ten grand on it realised he had fucked up as some layers have been known to do. I would say this is palpable as OP had had the same bet at 2/7 earlier. Even if he had lost the first set he wouldn't then be 7/4.
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