Betfair yesterday suffered what they described as a “technical failure” with in-play betting on the 2.00 race at Leopardstown. The controversy centred on eventual winner Voler La Vedette, who could be backed at odds of 29.0 (28/1) on the Betfair betting exchange from around 1 mile into the race.
At the time the sizeable lay (bet against) was made available Voler La Vedette was travelling well towards the rear of the field.
What seems to have occured, according to Betfair, is that a layer managed to exceed their credit account (available to a small number of their customers) maximum liability – to the tune of several hundred million pounds. I can only be making assumptions, given the complete lack of information offered by Betfair, but it appears possible the layer had intended to offer a lay at around 2.9 (the price the horse had been previously available at) but incorrectly struck at 29.0. This error – possibly made...
At the time the sizeable lay (bet against) was made available Voler La Vedette was travelling well towards the rear of the field.
What seems to have occured, according to Betfair, is that a layer managed to exceed their credit account (available to a small number of their customers) maximum liability – to the tune of several hundred million pounds. I can only be making assumptions, given the complete lack of information offered by Betfair, but it appears possible the layer had intended to offer a lay at around 2.9 (the price the horse had been previously available at) but incorrectly struck at 29.0. This error – possibly made...
- 12/29/2011
- by Peter Willis
- Obsessed with Film
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