Betfair

[class]

Apologies if already posted:-

http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/8792831/Betfair-will-only-refund-bets-for-punters-who-lost-out-on-16000-jackpot.html

[LeKnave]

not really relevant but:

''New Zealand farmers are being offered $1(50p) per sheep by Betfair to spray the red cross of St George on their flock during the Rugby World Cup''

i wouldn't mind buying some currency off this dude.

[Linux]

not really relevant but:

''New Zealand farmers are being offered $1(50p) per sheep by Betfair to spray the red cross of St George on their flock during the Rugby World Cup''

i wouldn't mind buying some currency off this dude.

Why? That's accurate

[Josedinho]

Has anyone that lost had money refunded?

[boldie]

Has anyone that lost had money refunded?

The money was never really taken out of the account (according to Betfair) so I would think so, yes.
RP has had small articles about this over the past 3 days (though I never bothered reading them, I've caught up with them now), seems that some of the "winning" customers have had an offer of compensation and some have gone to IBAS to settle the dispute.

IBAS obv won't be able to do anything as the bets were never confirmed. (I've had this before with an ante-post bet I placed with WH when I asked why my bet didn't show up 2 weeks later. "Did you see it confirmed, sir?" Erm...how the F should I know? I would have though so, yes but can't be sure. "Well, in that case you're fecked")

For PR reasons Betfair could have said "F it, we'll pay the money out just to stop it coming out" but I'm guessing betfair doesn't care that much about PR anymore as their customer base is pretty firmly established and they won't go to another exchange anyways.

[redarmi]

Thye have offfered one guy that should have made a £4k profit £1500 as compensation and it sounds as though he is the biggest one (although he did spent £12k on his perm so might be an important punter and is getting it on that basis) for the sake of £2500 they are getting at least a weeks worth of bad press......seems pretty stupid to me but then Betfair is a great example of how to take an amazing business and concept and fuck it up in a couple of years.  Stunning what thye have done to the business since Andrew Black/Mark Davies etc have left.

[boldie]

Thye have offfered one guy that should have made a £4k profit £1500 as compensation and it sounds as though he is the biggest one (although he did spent £12k on his perm so might be an important punter and is getting it on that basis) for the sake of £2500 they are getting at least a weeks worth of bad press......seems pretty stupid to me but then Betfair is a great example of how to take an amazing business and concept and fuck it up in a couple of years.  Stunning what thye have done to the business since Andrew Black/Mark Davies etc have left.

Yeah, the one guy they offered 1500 claims to have paid 400k's worth of commision over the past few years.

[Acidmouse]

Read Harry D's hendon mob forum posts on betfair, scary stuff. Wouldn't use them full stop.

[boldie]

Read Harry D's hendon mob forum posts on betfair, scary stuff. Wouldn't use them full stop.

TBH, I don't see the point in using them at all for smaller punters. You can always get your bets on (assuming they are not too large..as large bets can be an issue) with a normal bookie. Especially on horseracing the market is ridic competitive at the moment; best odds guaranteed, money back specials etc. I don't see why a normal punter who only backs horses and isn't concerned with laying them off would use betfair anymore.

[doubleup]

Read Harry D's hendon mob forum posts on betfair, scary stuff. Wouldn't use them full stop.

TBH, I don't see the point in using them at all for smaller punters. You can always get your bets on (assuming they are not too large..as large bets can be an issue) with a normal bookie. Especially on horseracing the market is ridic competitive at the moment; best odds guaranteed, money back specials etc. I don't see why a normal punter who only backs horses and isn't concerned with laying them off would use betfair anymore.

A lot of books seem to be structured as if to make the same amount on any outcome i.e. short prices have less of the overound applied to them than the longer prices, so they make a smaller amount from them more frequently than the longer prices which have a higher profit % but are less popular.  So BF is still prob best for longer prices.

[LeKnave]

not really relevant but:

''New Zealand farmers are being offered $1(50p) per sheep by Betfair to spray the red cross of St George on their flock during the Rugby World Cup''

i wouldn't mind buying some currency off this dude.

Why? That's accurate

  i see whyyyy

[Karabiner]

Read Harry D's hendon mob forum posts on betfair, scary stuff. Wouldn't use them full stop.

TBH, I don't see the point in using them at all for smaller punters. You can always get your bets on (assuming they are not too large..as large bets can be an issue) with a normal bookie. Especially on horseracing the market is ridic competitive at the moment; best odds guaranteed, money back specials etc. I don't see why a normal punter who only backs horses and isn't concerned with laying them off would use betfair anymore.

All "Best Price Guaranteed" does is highlight how ridiculously short the SP's are.

e.g. In yesterday's 4.40 race at Salisbury where Eso Kral put up the second, the first six horses to finish had all shortened in the betting and the seventh had remained the same.

[Chompy]

Harry D's views on Betfair may be best taken with a pinch of salt imo.

[  ] Betfair are awesome

[Nico29]

Harry D's views on Betfair may be best taken with a pinch of salt imo.

[  ] Betfair are awesome

Wiiiiiiiiiiiii was waiting for it...

[boldie]

Read Harry D's hendon mob forum posts on betfair, scary stuff. Wouldn't use them full stop.

TBH, I don't see the point in using them at all for smaller punters. You can always get your bets on (assuming they are not too large..as large bets can be an issue) with a normal bookie. Especially on horseracing the market is ridic competitive at the moment; best odds guaranteed, money back specials etc. I don't see why a normal punter who only backs horses and isn't concerned with laying them off would use betfair anymore.

All "Best Price Guaranteed" does is highlight how ridiculously short the SP's are.

e.g. In yesterday's 4.40 race at Salisbury where Eso Kral put up the second, the first six horses to finish had all shortened in the betting and the seventh had remained the same.

That's true..it doesn't seem nearly as common anymore to see horses' prices being pushed out after money comes in for something else.