- Joined
- Jan 20, 2004
- Location
- Saltirelandia
"Betfair falls short in new attempt to end unease over voided bets .. Rogue bets were laid by a 'bot'"
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... All in-running bets on Wednesday's race were declared void as a result of the rogue bet, which appeared to offer Betfair's clients a chance to back Voler La Vedette, the 13-8 second-favourite, at odds of 28-1, to a maximum of just over £21m. ...
As many as 200 Betfair clients are believed to have placed bets totalling just over £800,000 on Voler La Vedette, with a theoretical return of about £23m. Instead they simply received their stake money back when Betfair voided the in-running betting due to "an obvious technical fault which allowed a customer to exceed their exposure limit".
Friday's statement, described as an apology and explanation to Betfair customers from Stephen Morana Betfair's acting chief executive officer, said that the bet had been placed by an automated betting programme – or "bot" – via the site's Application Programming Interface (API), which is designed specifically to work with betting software. (You do not have permission to view link Log in or register now.)
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- Betfair customers may consider legal action on voided £23m winnings:
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- Betfair would have voided bets if Voler La Vedette had not won:
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- Betfair's £23m betting liability was caused by small-scale customer:
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- Betfair may lose out by not explaining how £600m lay bet was accepted:
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