Betfair Pays Out - Software Glitch Revealed

SlotMonster

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Apr 2, 2007
Location
Belarus
Jan 13th, 2008
Between 3 AM and 6 AM this morning, a glitch was discovered on Betfair Poker.

The Sit 'n Go payouts developed a glitch immediately after the site ran a software upgrade. Betfair's "6-Pack" Sit 'n Go's were not only paying the top two places, but also ALL the remaining entrants; all entrants were being paid 2nd place money, regardless of where they placed.

Obviously, it did not take long for players to realize what was happening - groups quickly filled all the highest buy-in Sit 'n Go's and began to go all-in every hand. An organized effort was established with a small group of twenty players exploiting the glitch, and as the night progressed, others quickly realized the situation and began to profit as well.
Betfair finally became aware of the problem around 6 AM. One report estimates the losses at over $1.7 million pounds, making this quite a fiasco for Betfair.

Many players who took advantage of the glitch instantly, withdrew their newfound wealth via Paypal. Paypal has frozen many accounts, but some players were able to cash out and escape with their ill gotten gains prior to being discovered.
This information was linked on the Betfair forums in a few threads, but at last check, they have been removed by management, leaving the public to wonder if Betfair is attempting to hide the scandal.
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LOL
 

jetset

RIP Brian
Joined
Feb 22, 2001
Location
Earth
Interesting tale of greed and technical flaws - trying to get a comment from Betfair management at present, especially in regard to that reported total figure of GBP 1.7 million.
 

winbig

Keep winning this amount.
Joined
Mar 10, 2005
Location
Pennsylvania
whoa....

Many players who took advantage of the glitch instantly, withdrew their newfound wealth via Paypal.


????? PAYPAL? wtf? :confused:

Since when can you withdrawal, let alone deposit, via paypal at any gambling site?
 

ugaboga

Casino Addict
Joined
Sep 8, 2007
Location
Australia
Paypal accepts Brits and some European countries to use their account for deposit/withdrawal purposes with online gaming companies.
 

RobWin

closed account
Joined
Apr 24, 2004
Location
A Vault!
Paypal accepts Brits and some European countries to use their account for deposit/withdrawal purposes with online gaming companies.


I thought Paypal stopped allowing gaming transactions when they were bought by eBay ? Or Is that for only us in the good ole USA...:eek:
 

winbig

Keep winning this amount.
Joined
Mar 10, 2005
Location
Pennsylvania
Correct, that is only for the US except for "skill games" protected by the UIGEA. Paypal processes gambling transactions for some countries outside the US.

Hypocritical bastards. Where the )$@*(&%@(*$% do they get off on that shit? Even pre-UIGEA they didn't allow gambling transactions for the USA.
 

RobWin

closed account
Joined
Apr 24, 2004
Location
A Vault!
Hypocritical bastards. Where the )$@*(&%@(*$% do they get off on that shit? Even pre-UIGEA they didn't allow gambling transactions for the USA.

Here you go Win, I thought you could use this right now, I still saved a few for myself....:D

The new and improved XANAX XR.....:thumbsup:
 
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jetset

RIP Brian
Joined
Feb 22, 2001
Location
Earth
Not only that - the Paypal CEO has been an active and public supporter for the criminalisation of online gambling....in the US!!! Hypocrisy on a grand scale....
 
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