Betfair Dispute

[Voodoo7]

Just spent 30 minutes on the phone with them and still couldn't figure out what they were saying. Here's the gest of it and mind you I am fairly new to exchanges but this doesn't sound right.

I wagered 340 on Houston (NBA) on matched odds. (No spread). The game is tied at the half and they return 180 to my account while grading 160 a loss. When I called for an explanation I was told my wager was 1/2 right and 1/2 wrong. What am I missing here? There was no spread, it was a straight up wager.

 

[FullyEclipsed]

I don't even know what to say...

You either win, lose, or push... No fukn halfsies

 

[FullyEclipsed]

So if it's an exchange did the house rake $320 because it was a push?

 

[Voodoo7]

The guy I spoke to couldn't even explain it himself. When he said I was 1/2 wrong and 1/2 right with my wager I was dumbfounded. Maybe I am missing something but if you're wagering what is essentially a 1st Half moneyline bet on a team and they are tied at the half how are you 1/2 right and 1/2 wrong?

Hopefully a mod can help out with this dispute.

 

[Cusipz]

Maybe you had half at -.5 and half at Even ?

Only thing I can think of....

 

[FullyEclipsed]

^^ Banner up top says a mod will join the conversation... Very confusing indeed.. Good luck in this

 

[HerzvanRentle]

If it was a tie, then the deat-heat rule would apply.

MARKET INFORMATION

For further information please see Rules & Regs.

Which team will be leading at the HALF time interval of this game? Dead Heat rules apply.

 

[Voodoo7]

If it was a tie, then the deat-heat rule would apply.

MARKET INFORMATION

For further information please see Rules & Regs.

Which team will be leading at the HALF time interval of this game? Dead Heat rules apply.

Herz. I've been trying to read and understand those rules since I got off the phone with them. If their interpretation is that you lose 1/2 your wager on what most if not all bettors would consider a push then I would warn others not to play there. In fact after my other wagers are settled tonight I'll be withdrawing and closing my account.

 

[Cusipz]

Yeah...it's a little ugly. If you bet on a big Fav (like Houston) and it ends in a tie...you end up losing, they do some calculation based on the odds, and the number of winners. So the people who took + money on the other side end up winning some. Winning some from you, apparently.

That may be a reason why odds "seem" better for laying favs for 1st half or other events that can end in tie, because the underdog bettor collects a little in the tie situation.

 

[FullyEclipsed]

How does the ticket read Voodoo? Lead at half?

 

[Voodoo7]

How does the ticket read Voodoo? Lead at half?

Fixtures 07 February Minnesota @ Houston / Half Time Match Odds / Houston Rockets (HT)
Back

 

[FullyEclipsed]

^^ Holy shit.. I don't speak spanish.. WTF is that?

 

[Cusipz]

Think of it like this. You have a 2 horse match race.

Horse 1 is 1:5 (say 500 bet)
Horse 2 is 4:1 (say 100 bet)

It ends in a dead heat - how do you split the cash?

Total pool is 600. Horse 1 bettors are entitled to half, 300. And horse 2 bettors are entitled to half - also 300.

Horse 1 bettors lose money (500 in and 300 back)
Horse 2 bettors win money (100 in and 300 back)

Now, I agree they should not use this style for basketball 1st half betting. It should be clearly push = no action...but that's their rule.

 

[HerzvanRentle]

Also Betfair earns commission on dead-heats where they would get none if they just returned stakes.

 

[Cusipz]

Also Betfair earns commission on dead-heats where they would get none if they just returned stakes.

Excellent point.

 

[Kornholio]

this is the mighty betfair hugest book in the world right? what a joke of a rule

 

[Voodoo7]

Think of it like this. You have a 2 horse match race.

Horse 1 is 1:5 (say 500 bet)
Horse 2 is 4:1 (say 100 bet)

It ends in a dead heat - how do you split the cash?

Total pool is 600. Horse 1 bettors are entitled to half, 300. And horse 2 bettors are entitled to half - also 300.

Horse 1 bettors lose money (500 in and 300 back)
Horse 2 bettors win money (100 in and 300 back)

Now, I agree they should not use this style for basketball 1st half betting. It should be clearly push = no action...but that's their rule.

Their bet screen showed no indication of any dead heat rule, none that I saw. Looking at the screen I was sure I was betting a moneyline wager much like I'd bet an in-game wager at Pinnacle or elsewhere. I'm done there none the less, just waiting for them to process my moneybookers withdrawal then i'll warn others anytime I see a betfair post on this site.

 

[Betfair.com]

Looking into the market and your bet

Hi Voodoo:

I understand that you are pissed. But would you mind giving me a chance to look into this and respond, please?

I received an email from SS about your troubles about 5 minutes ago. I will look into it and post a response by tomorrow night if not sooner.

Since betfair lets you have more than 1 account, please PM me the username you used to place the bet.

Thanks,

rob

 

[Santo]

Dead heat is the standard way of settling this kind of bet in European/Australian sports.

I see nothing wrong here, other than the player didn't read the market rules. They may refund it as goodwill, but I can't see how they're at fault.

They do lots of things wrong imo (Last week's tennis market, premium charge), but this isn't one of them.

 

[SportSavant]

Dead heat is the standard way of settling this kind of bet in European/Australian sports.

I see nothing wrong here, other than the player didn't read the market rules. They may refund it as goodwill, but I can't see how they're at fault.

thats pretty much what I figured Santo,

Betfair offers so many different markets for wagering, a novice, or someone who is used to a North American interface may wind up betting a market they didnt intend to.

heck I have made mistakes myself at Betfair and some have been costly.

One way to start out at Betfair if you are used to North American bookies is to set your options so that you see "Back Only" bets but not view "Lay bets".....

worry about "Lay bets" for another day.