****OFFICIAL****: Horse tip Thread

[Dubai]

Yeah for sure a technical glitch

[MahoganyVic]

There was more than £10million still available to back @ 29's as it crossed the line

Someone seemed to put up a lay with about £1billion of liabilities!

[Dubai]

will be voided, loads of moaning etc

[Chompy]

Guaranteed void imo. Betfair bot been at the sherry?

[Somerled]

will be voided, loads of moaning etc

Hope they don't void the pre-race bets. My £4 was very special to me. 

[doubleup]

345 lingfield eager to bow -  balls deep that is all

ul very poor ride

[MahoganyVic]

http://www.racingpost.com/news/horse-racing/punters-left-in-dark-over-betfair-mystery/968454/

[Chompy]

They just posted it's still under investigation

[Chompy]

All bets void.

Quelle surprise.

A technical error led to a customer being allowed to trade beyond the funds in his account.

Yeah, whatever.

[doubleup]

All bets void.

Quelle surprise.

A technical error led to a customer being allowed to trade beyond the funds in his account.

Yeah, whatever.

Don't think they will get away with this.  You can't have a palp error on bf.  Their T&C state that anyone exceeded their funds is still liable for losses.  They state it was a customer and not a house bot.

[Eso Kral]

Amazing scenes!

Someone just laid £1.6m @ 29-1 Voler La Vedette in Ireland!

Never went below Evens, although clear after the last.

Gonna be interesting to see what happens here. Someone has either lost the world or some sort of weird goings on.

Was it someone on Claw's BF account?

[Chompy]

BETFAIR on Wednesday came in for fierce criticism from customers after they made the decision to void all in-running bets placed on a Leopardstown race after an incredible lay bet left a punter facing a theoretical £23 million payout

An internal three-hour long investigation into the fiasco concluded that usersof the site had suffered "a very poor customer and betting experience", after the decision was made to cancel all in-running bets placed on the race, in which winner Voler La Vedette was available to back at a price of 29 (28-1) as she crossed the line four and a half lengths clear.

A total of £1,642,094 was matched at that price after a lay bet of £21.3m was offered on the 13-8chance at 29 - which would have resulted in a whopping payout of almost £600m if it was all matched.

Betfair issued a threadbare statement which said the decision to void all bets was taken after it became apparent the appearance of the bizarre lay bet "was due to an obvious technical failure which allowed a customer to exceed their exposure limit."

Betfair spokesman Tony Calvin said: "It is an obvious error in the fact that the horse was 28 passing the line.

"To offer that kind of amount you would have to have £600 million in your account and anybody backing it at that price knew that something was wrong."

He continued: "It is clearly a technical failure that somebody somewhere was able to place a bet with that liability. Clearly nobody in their right mind would want to strike a bet like that."
The investigation into how the bet was able to be placed was continuing on Wednesday night and Calvin added: "In response to a number of customer questions on this matter, we would like to clarify that the account in question has no commercial relationship with Betfair other than being a customer."

Betfair's share price closed down 3.16 per cent on Wednesday at 781.50p.

[Chompy]

Too funny...

Following the debacle of earlier today it seemed an appropriate time to add a small update to that classic Armida post from the days when this exchange moved away from encouraging all punters by offering real value to discouraging winners and employing a strategy that welcomes only the not so sharp a mind.......

SEPTEMBER 2001

Joe Punter: Twenty tenners please.

Betfair Bob: You would be better off putting that on Betfair rather than this betting shop, It could be as much as 40 on there, less 5% comm, gives you over 37/1.

Joe Punter: Really? I will have a look at that.

DECEMBER 2011

Joe Punter: Twenty tenners please.

Betfair Bob: You would be better off putting that on Betfair, it could be as much as 40 on there, less your commission, which is your net winnings multiplied by the Market Base Rate, after your Discount Rate is converted from your Betfair Points Total, and applied to the Market Base Rate, unless of course, you have taken a Betfair Holiday, when your Betfair Points will not be credited, so your Discount Rate will remain the same, but you won't be subject to a 15% decay in your Points Total at the end of the week.

However, if you win you may qualify for the Premium Charge of up to 22.5% which is dependant on your forthcoming weekly profit in relation to the commission payable for that week or on a rolling 60 week average, which is when your commission and implied commission is calculated and divided by two, which is ok because it can be offset against the £1000 Premium Charge allowance, and at the end of the week you find out what price you got.

Also it’s only fair to warn you we reserve the right to void any winning bets if it suits us

Joe Punter: Twenty tenners please.

[Raman]

There is one running tonight that I had down on my tracker - Hierarch runs at Kempton 7:15 its around the 3/1 mark.

Hierach runs again tonight, and having one a shade cosy last time and escaping a penalty it has to be of interest yet again.  6:40 Wolves.

[maldini32]

Vanilla Rum 6.45 Wolves