BetFair voids winnings on ATP tennis match

[dealer wins]

Thodorisk Betfair actually lost a load of commission by voiding this match.

They do not take bets, they merely match up clients who bet against each other, and take up to 5% of the winners profit on each bet.

Your post made me laugh out loud though (Spat my coffee over the screen!!!), and orgy of evidence but sadly the wrong crime in this case

Im not sure that Betfair should have voided the bets until a full enquiry finds that there was definitely foul play going on. I bet there are a few big Betfair market makers who are seriously out of pocket and VERY pissed off at them right now.

[ThodorisK]

lol, at least this misunderstanding got me to do the work that I had to do regarding the stats of this casino.

[ThodorisK]

I made you laugh? lol. Give a thanks then, I want to start a thread to ask people about the integrity of some casinos I am thinking of depositing into.

[ThodorisK]

e.g. has anyone tested Casino1128? (lol, it's a new one, I doubt if I deposit there)

[winbig]

Originally Posted by ThodorisK

e.g. has anyone tested Casino1128? (lol, it's a new one, I doubt if I deposit there)

Why do you even bother? In your mind, all online casinos are rigged. Oh yea, poker rooms as well.

[ThodorisK]

For the bonus. They have to cheat you too much in order not to make a profit with the sign up bonus. And most of them do not cheat too much, otherwise everybody would know it. Perhaps some of them never cheat, God knows.

[dealer wins]

I wonder if there is any news on the tennis match situation. Has there been an offical investigation or have Betfair become the Tennis police, judge and jury!!! (and sod the genuine punters who had their winning bets voided and must be seriously pissed off right now).

I dont know who overseas tennis and its integrity but unless it is proved to be a fixed match and one or both of the players kicked off the circuit, then Betfair I believe have not acted correctly here.

[tennis_balls]

Originally Posted by dealer wins

I wonder if there is any news on the tennis match situation.

i did read this story. http://www.rediff.com/sports/2007/aug/09davy.htm

I believe Davydenko. That guy grinds so hard to win matches that I can't believe he would throw one. I suspect the info leaked out via a trainer or coach that he was hurting and unlikely to finish the match.

This story could get hotter though if the investigation reveals connections between the big wagers and someone working at that tourney in Poland.

[dealer wins]

Interesting read, thanks for that.

I still think its outrageous for Betfair to void all bets just because they feel like it, like they are bigger than their customers and can just stick two fingers up at them really. If they really had concerns then they should have put all bets on hold until an official investigation has been completed. Then depending on the outcome either void bets if there has been cheating/fixing, or settle as normal if not.

How many markets does betfair cover where insiders make a killing every week. Loads and loads and they are happy to run these markets and cash in.

Thats the whole point of an exchange, where you bet against other punters and fully accept that you may be betting against people who know more than you do (or vice versa) about an event.

I only like Betfair because it keeps the bookies on their toes btw but this has tarnished my view on them a bit.

[XXLClubCasino]

I took the free 10 chips from the casinomeister promo and played BJ up to 200€!! I didn't want to post this result but thought it to be necessary in this case!

Originally Posted by ThodorisK

Check out my experience at betfair casino:
I deposited 70euros and started the wagering for the 75euros bonus. I played single deck blackjack 1-2 euros each hand, basic strategy, and without ever by balance exceeding my initial deposit, I kept losing and losing. Lost my deposit and had to reload. Results after I completed wagering:

hands=893
average bet=1.38 euros
profit/loss=-76.5 euros

Now when I had completed about 750 hands, I was 98 euros down.
How certain it is that I was cheated? I found an easy way to answer this:
I use this calculator for estimating risk of ruin which refers only to the number of hands: http://www.card-counting.com/blackja...culator-c3.htm
I was not flatbetting but changing my bet between 1 and 2 euros. However, as a rough idea, with that calculator you can get the probability that someone who has a bankroll of 98/1.38=71 units, will get ruined-bankrupt after 750 hands. I did bet about 10 euros once and lost. So exclude this 10 euros bet I made, and suppose this was a bet of 1 euro. So, calculate the risk of ruin for 62 units of bankroll after 750 hands. (house edge=0.3%, standard deviation per 100 hands = 11.3)

The risk of ruin for these values is 5.21%. That much I had for what happened. Bad luck? I would think so too, since when playing too many bonuses, this 5% naturally it will happen, but how often? Almost the same thing happened to me to quite a few casinos.

You are doubting whether they would cheat for millions of dollars, whereas they cheat for a few dollars. Of course these few dollars multiplied by the number of players, is thousands.