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Betfair Ruined My Life


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This thread is for Dosbodders who bet on the recent Presidential Election, and lost their money when the company decided to settle the bets with Joe Biden as the winner.

With the Betfair angle getting increasingly legal and technical, I thought now would be a good time to start a separate thread.  The posts in the Presidential Election thread are getting lost in among the chatter, and I hope this will be easier to reference for us.

See also, a facebook group.  Nothing to do with Dosbods, but a good source of info:

https://www.facebook.com/groups/997575554065231

Edited by Bricks & Mortar
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If by some weird sequence of events Trump is declared the winner then Betfair will have a problem, and people like me will have a valid complaint, but the chances of that are vanishingly small. It's j

This thread is for Dosbodders who bet on the recent Presidential Election, and lost their money when the company decided to settle the bets with Joe Biden as the winner. With the Betfair

Down about £1500 overall with Betfair. Not the end of the world but I could have done without it. I don't believe that the betting has been handled fairly and transparently overall. It has been pointe

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From the Facebook Group, I gather its important that each of us registers a complaint, and does so within 14 days.  That would give you up to the 28th Dec. 
I gather the're pretty swamped with complainers and getting an answer is difficult.

I sent an email to: 

  complaints@betfair.com
Dear Betfair,
 
I'm upset you closed the above market.  The closure at that moment was contrary to what I would have expected as your rules had mentioned the 12th Amendment, and I'd seen communications sent by your support to a friend that stated you intended to wait until all legal challenges were resolved.  I'm aware that you have stated publicly you settled based on projected electoral college votes, but I also have a problem with that, due to the competing electors sent from multiple states.
 
I'm upset I spent considerable time watching the events underlying this market in the weeks before your decision, which your decision turned into time wasted.
I'm upset I lost the chance to lay my bets off, or increase them as we get closer to the point where the 'Next President', (as you titled your market), becomes known.
I'm upset your decision removes my chance of winning, at a time when the issue of who will become next president is not yet settled.
And I'm upset because my first foray into the world of betting,(never been into sports, and was excited to find I could bet on politics), seems to have ended unexpectedly and unsatisfactorily.  I wouldn't have minded losing, but I'm upset at having my money taken and being made to feel like a 'mug'.
 
I trust you will reply, and include a COMPLAINT REFERENCE NUMBER, as I expect there may be further communications between us.
 
If your reply is anything less than an offer to return my stake with some compensation;  Or a commitment to stand by the bets in the event someone other than Joe Biden, (the candidate you selected as the winner), becomes president, then I would ask that you also send an IBAS REFERENCE NUMBER, as I believe I'd have to take my complaint there in that instance.
 

With best wishes, (to whoever is reading this), for the festive season,

Bricks and Mortar, Esq.

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1 minute ago, Butthead said:

What's the angle here?

I bet on Trump to win. The official narrative is that he didn't and Biden will be confirmed President in January, so I lost my stake. Election fraud issues aside, what do people expect of Betfair here?

 

Totally agree,I’ve heard have another vote is popular amongst certain sorts .

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5 minutes ago, Butthead said:

What's the angle here?

I bet on Trump to win. The official narrative is that he didn't and Biden will be confirmed President in January, so I lost my stake. Election fraud issues aside, what do people expect of Betfair here?

 

Well, I'm no expert.  Indeed, this is my first foray into the world of betting, more or less in my whole adult life.  A lot of folks on the Facebook group expect
A:  that in event of trump winning they may actually pay out, rather than face the negative press and possible wrath of their ombudsman.
B:  that if they don't there will be class action lawsuits against them.

C:  The facebook group is taking names and details of people who've lost money for the possible class action suit.

Edited by Bricks & Mortar
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If by some weird sequence of events Trump is declared the winner then Betfair will have a problem, and people like me will have a valid complaint, but the chances of that are vanishingly small. It's just not going to happen.

I have a lot of sympathy with the election fraud arguments but that doesn't change what will almost certainly be the reality. Biden will be President, and complaining to Betfair is vexatious and a waste of time. It's not their fault.

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1 minute ago, Bricks & Mortar said:

Well, I'm no expert.  Indeed, this is my first foray into the world of betting, more or less in my whole adult life.  A lot of folks on the Facebook group expect
A:  that in event of trump winning they may actually pay out, rather than face the negative press and possible wrath of their ombudsman.
B:  that if they don't there will be class action lawsuits against them.

I would happily see them all bankrupted ie online betting firms but trump lost 

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1 minute ago, Butthead said:

If by some weird sequence of events Trump is declared the winner then Betfair will have a problem, and people like me will have a valid complaint, but the chances of that are vanishingly small. It's just not going to happen.

I have a lot of sympathy with the election fraud arguments but that doesn't change what will almost certainly be the reality. Biden will be President, and complaining to Betfair is vexatious and a waste of time. It's not their fault.

I think you argued against yourself by the use of the term “almost certainly be the reality”.

Man Utd were losing 1-0 to Bayern in 1999 as they went into extra time. It was almost certain that the Germans were going to win that match.

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I put money on, but it's probably over for Trump and has been for a while.

Any noise he's made has resulted in nothing so I see it as delaying the inevitable. 

If by some miracle he does do it then obviously I'll be going at them full force, but until then it's not worth the bother - I've written it off as a loss some time back.

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4 minutes ago, Butthead said:

If by some weird sequence of events Trump is declared the winner then Betfair will have a problem, and people like me will have a valid complaint, but the chances of that are vanishingly small. It's just not going to happen.

I have a lot of sympathy with the election fraud arguments but that doesn't change what will almost certainly be the reality. Biden will be President, and complaining to Betfair is vexatious and a waste of time. It's not their fault.

More or less the entire planet is wondering what is going to happen with the US presidential election but somehow you think you already know the result? Sky News &co. endlessly saying "Biden Biden Biden" does not make it so.

Look at the publicly available evidence and you will see that Betfair violated its own rules, no matter who finally does become US President.  Bettors are due at least the return of their stake and at most their legitimate winnings.

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55 minutes ago, Bricks & Mortar said:

This thread is for Dosbodders who bet on the recent Presidential Election, and lost their money when the company decided to settle the bets with Joe Biden as the winner.

With the Betfair angle getting increasingly legal and technical, I thought now would be a good time to start a separate thread.  The posts in the Presidential Election thread are getting lost in among the chatter, and I hope this will be easier to reference for us.

See also, a facebook group.  Nothing to do with Dosbods, but a good source of info:

https://www.facebook.com/groups/997575554065231

Are you able to copy/paste some of the more important facebook stuff for the non facebookerers?

 

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24 minutes ago, Bricks & Mortar said:

That article raises all the key points.

The electoral college couldn't be legitimately projected at the time they closed the market because of the outstanding legal challenges.

I sent them a message on their chat function stating as much when they closed the market, but all I got was automated nonsense in response. I'll make sure I send them an email raising an official complaint on the weekend.

If Trump wins I want my money.

 

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25 minutes ago, Bricks & Mortar said:

They don't seem to realise how the money bet on a market works. If Betfair show it as £1bn it includes lots of traders  trading chunks of money repeatedly to skim pennies in profit on each trade. People might back say £10,000 at 1.11 to lay the £10,000 at 1.10 Someone like that could run up a £1m in matched bets easily without never having more than £10,000 in their account. Their actual risk at the end of it could be £0.

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1 hour ago, Bricks & Mortar said:

but a good source of info

since when was failbook a good source of info? :P

look 'deep state' don't want trump so they rigged the elections.....you lost to 'the system'....

don't want to lose? don't play but don't act like a baby when the big corporates take your money......again

move on, life is too short....try the 2:15 tomorrow at Kempston xD

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12 minutes ago, Reck B said:

Are you able to copy/paste some of the more important facebook stuff for the non facebookerers?

 

I really don't want to get into any facebooking on this so yesterday I joined the Telegram group. Overnight everyone got kicked from the group amid rumours of betfair employees allegedly making their own bets after public betting suspended. Someone called "Jay" disrupting the group and uploading gay porn, who was later supposedly connected by his IP address to betfair itself.

Just what I needed...

There is also apparently a WhatsApp group for those who are OK with using facebook.

I sent my own condensed cut-n-paste version of @Bricks & Mortar 's email to complaints@ just in case it matters. Not expecting a sensible response.

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5 minutes ago, Funn3r said:

complaints@

complaints where, telegram don't give a crap they're based in Dubai and owned by some Russian brothers...

whatsapp is separate to but wholly owned by failbook......

they're just mediums for the plebs to talk shite and get brainwashed.......I can't see how you can achieve anything??

ooh and quel surprise, some 'insider trading' going on or do they call that 'disruptors' on social media nowadays :Jumping:

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Take no notice of the Negative Nora's.
 

Not all early payout mistakes are sports related. In 2016, Paddy Power were left red faced after making the decision to pay out early to all their punters that had backed Hillary Clinton to win that year’s US election. Their wrong move was in part motivated by a series of negative news stories that falsely threatened to derail Donald Trump’s campaign. But, in the end, the bookmaker had been hit for more than £4 million by punters who’d backed Trump to win instead. Paying out on bets on both outcomes proved to be biggest political pay-out in the company’s history leaving Paddy with an extremely expensive egg on their face.

https://www.thepunterspage.com/early-payout-explained/

Edited by Bricks & Mortar
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29 minutes ago, Funn3r said:

I really don't want to get into any facebooking on this so yesterday I joined the Telegram group. Overnight everyone got kicked from the group amid rumours of betfair employees allegedly making their own bets after public betting suspended. Someone called "Jay" disrupting the group and uploading gay porn, who was later supposedly connected by his IP address to betfair itself.

Just what I needed...

There is also apparently a WhatsApp group for those who are OK with using facebook.

I sent my own condensed cut-n-paste version of @Bricks & Mortar 's email to complaints@ just in case it matters. Not expecting a sensible response.

I thought Telegram was meant to be even more encrypted than Whatsapp, or is that merely the chat contents, not the source address?

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