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BetFair voids winnings on ATP tennis match

Discussion in 'Casino Industry Discussion' started by acepedro45, Aug 3, 2007.

    Aug 3, 2007
  1. acepedro45

    acepedro45 Dormant account

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    Tennis officials investigate irregular betting on match

    Associated Press

    Updated: August 3, 2007, 12:07 PM ET

    LONDON -- Tennis officials are investigating suspicious betting patterns on a match involving top-seeded Nikolay Davydenko of Russia, who retired with an injury against a low-ranked opponent at an ATP tournament in Poland.


    Betfair said it received about $7 million in bets on the Davydenko-Arguello match -- 10 times the usual amount -- and most of the money was on Arguello to win, even after Davydenko won the first set 6-2.

    In an unprecedented move, British online gambling company Betfair voided all bets Friday placed on Thursday's second-round match at the Prokom Open in Sopot between the defending champion and No. 4-ranked Davydenko and No. 87-ranked Martin Vassallo Arguello of Argentina.


    Betfair said it received about $7 million in bets on the match -- 10 times the usual amount -- and most of the money was on Arguello to win, even after Davydenko won the first set 6-2.

    Arguello won the second set 6-3 and was leading 2-1 in the third when the Russian retired. Davydenko said he aggravated a left foot injury in the second set. He received medical attention from a tournament trainer before deciding to quit.

    Betfair, which has had an agreement with the ATP since 2003 to share information on any irregular betting activity, said it was concerned with the volume of wagers coming in on Arguello from the start.

    "We think the market quite clearly wasn't fair," Betfair managing director Mark Davies said. "The prices seemed very odd. As a result, in the interest of fairness and integrity and in consultation with the ATP, we have decided to void the market and return all stakes to [bettors]."

    It's the first time the company has taken such a step in any sport. Davis said Betfair would turn over its betting records for the ATP to investigate.

    "The ATP takes issues surrounding gambling extremely seriously," the men's tour said in a statement. "We are committed to ensuring our sport remains corruption free and have strict rules in place governing this area.

    "In addition we have memorandums of understanding with U.K. and European betting companies that ensures information pertaining to any ATP Tour match that may look suspicious, based upon gambling patterns, is shared with us immediately."

    ATP officials said Friday that Davydenko had left Poland.

    "Normally I try to fight to the end but it was very painful and I may have done even more damage by trying to finish the match," Davydenko said Thursday after the match. "Since the beginning of Monday I've had a problem with my left toes. Today that became a problem with my foot."

    Since losing in the fourth round at Wimbledon to Marcos Baghdatis, Davydenko lost three straight first-round matches -- to Gael Monfils at the Swiss Open, Florent Serra at the Dutch Open and Gilles Simon at the Croatia Open -- before beating Andrei Pavel, 6-3, 6-4 in the opening round in Poland.

    Arguello lost 2-6, 6-4, 6-2 on Friday in the quarterfinals to another Argentine player, Jose Acasuso.

    "I saw Davydenko playing very well the first set, and I saw also that he had problems with his feet, and that was true, he was not inventing that, so it's difficult to suspect him," Arguello told The Associated Press by telephone from his hotel room in Sopot.

    At Wimbledon in 2006, Betfair reported irregular patterns surrounding a first-round match between British wild card Richard Bloomfield and Carlos Berlocq of Argentina.

    Berlocq, who was ranked 170 places higher than Bloomfield, lost 6-1, 6-2, 6-2. Most of the bets placed were on Berlocq to lose. However, no wrongdoing was detected.

    Copyright 2007 by The Associated Press


    This brings up a whole host of issues.

    I'd be pretty pissed right now if a casino tried to void my winnings based on a "suspicious pattern" that I happened to stumble into by dumb, blind bad luck. What about the innocent punters who happened onto that match?

    This operator is using a "suspicious pattern" as the sole basis to not pay out winnings. The discovery of this scheme reeks of "information mining." I'm not questioning the validity of the conclusion in this case (i.e. the match was somehow rigged) but is this technique enough to constitute evidence when a lot of money is at stake?

    Anyone play there regularly? What do you guys think?
     
  2. Aug 3, 2007
  3. happygobrokey

    happygobrokey Dormant account

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    scary stuff. i don't think the match was fixed. i didn't see it, but i don't believe you'd throw away your chance at a big purse (and likely your career if discovered) for a cut of a betting fix.

    but then again, betting on the underdog in tennis is not smart imo. it's not possible they noticed davydenko was having foot troubles in a previous match and were banking on it being a factor in this match? but also, doesn't the line go down after so many people bet on the dog? as more people made the bet, the odds may not look so long to the next guy, and so on.

    we don't think this nagging injury could have been disseminated by his coach, wife, other sports bettors, etc to some published source, prompting people to have an "insider tip" of sorts?

    finally, it seems suspect to retire from the match if you were in on a fix, since that would and has aroused suspicion. why not just lose quickly, like the other guy in the article when they suspected a fix?

    but i think in the case of a rig/fix, it is appropriate that all bets are no action. if betting affects the way a match is played, then it is no longer a sporting event.

    since no fix is yet proven, it may be a bit pre-emptive to cancel the bet. but they certainly wouldn't pay it out before they know for sure, and they can't really hold everyone's money in limbo forever either.

    and the innocent punter that bets on a heavy dog in tennis would probably lose anything they won off these crazy bets before long anyhow.
     
  4. Aug 3, 2007
  5. roslilj

    roslilj Dormant account

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    Vassallo is a match fixer. Just today again! Vassallo-Arguello had 6-2 4-1 against Montanes. Someone was pushing up the odds to above evens, he should be 1.15-1.20 at this stage. When those bets were matched. He eventually lost 6-2 4-6 2-6.
     
  6. Aug 3, 2007
  7. tristan727

    tristan727 Banned user - violation of <a href="http://www.ca

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    Don't be daft - he's Russian. Sometimes you get made offers you can't refuse, shall we say.
     
  8. Aug 3, 2007
  9. dancinggoon

    dancinggoon Dormant account PABnorogue PABrogue PABnononaccred2 PABnoaccred PABaccred

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    I think betfair is a betting exchange, where players bet against other players and betfair takes a commision fee from the winning bets. Not like a normal sportsbook, where players are betting against the house.

    This way betfair has no advance in voiding all bets and returning the money to their customers, they even lost a nice amount on fees, wich they can collect from the winners.

    Please correct me if im totaly wrong.
     
    1 person likes this.
  10. Aug 4, 2007
  11. tristan727

    tristan727 Banned user - violation of <a href="http://www.ca

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    Yes that's right - which, call me a cynic, is why when there have been numerous other soccer & tennis matches with identical betting patterns, and results - this is the 1st time they've ever voided. Possibly, Davydenko being no.4 in the world made it higher profile than the others, plus the money involved was greater.
     
  12. Aug 4, 2007
  13. winbig

    winbig Keep winning this amount. webby PABnononaccred

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    Was his pre-existing foot problem public knowledge? If so, I myself would have bet on his opponent. It's no different than knowing a key football player is hurt and not performing 100%. You'd bet on the other team, no?
     
  14. Aug 6, 2007
  15. james01

    james01 Dormant account

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    No, it was no public knowledge. Maybe a few insiders knew it.
     
  16. Aug 7, 2007
  17. happygobrokey

    happygobrokey Dormant account

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    say it ain't so, davydenko!
     
  18. Aug 7, 2007
  19. ThodorisK

    ThodorisK Most Annoying Forum Member of 2007

    Occupation:
    writer
    Location:
    Athens, Greece
    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: You must register/login in order to see the link.
    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.
     
    1 person likes this.
  20. Aug 7, 2007
  21. dealer wins

    dealer wins Experienced Member

    Occupation:
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    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 :lolup:

    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.
     
  22. Aug 7, 2007
  23. ThodorisK

    ThodorisK Most Annoying Forum Member of 2007

    Occupation:
    writer
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    Athens, Greece
    lol, at least this misunderstanding got me to do the work that I had to do regarding the stats of this casino.
     
  24. Aug 7, 2007
  25. ThodorisK

    ThodorisK Most Annoying Forum Member of 2007

    Occupation:
    writer
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    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.
     
  26. Aug 7, 2007
  27. ThodorisK

    ThodorisK Most Annoying Forum Member of 2007

    Occupation:
    writer
    Location:
    Athens, Greece
    e.g. has anyone tested Casino1128? (lol, it's a new one, I doubt if I deposit there)
     
  28. Aug 8, 2007
  29. winbig

    winbig Keep winning this amount. webby PABnononaccred

    Occupation:
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    Why do you even bother? In your mind, all online casinos are rigged. Oh yea, poker rooms as well.
     
  30. Aug 8, 2007
  31. ThodorisK

    ThodorisK Most Annoying Forum Member of 2007

    Occupation:
    writer
    Location:
    Athens, Greece
    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.
     
  32. Aug 10, 2007
  33. dealer wins

    dealer wins Experienced Member

    Occupation:
    Finncial Controler
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    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.
     
  34. Aug 10, 2007
  35. tennis_balls

    tennis_balls Dormant account

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    i did read this story. You must register/login in order to see the link.

    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.
     
  36. Aug 12, 2007
  37. dealer wins

    dealer wins Experienced Member

    Occupation:
    Finncial Controler
    Location:
    London the sh$thole
    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 :lolup: but this has tarnished my view on them a bit.
     
  38. Aug 12, 2007
  39. XXLClubCasino

    XXLClubCasino Dormant account

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    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!

     
    1 person likes this.

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