The Christmas Hurdle from Leopardstown, a good Grade 2 race during the holiday period. But now it will go into history as the race which brought Betfair down. Over £21m at odds of 29 available on Voler La Vedette in-running - that's a potential liability of over £500m. You might think that's a bit suspicious, something's fishy, especially with the horse starting at a Betfair SP of 2.96. Well, this wasn't a horse being stopped by a jockey either - the bloody horse won! Look at what was matched at 29. Split that in half and multiply by 28 for the actual liability for the layer(s). (Matched amounts always shown as double the backers' stake, never counts the layers' risk). There's no way a Betfair client would have £600m+ in their account. Maybe £20 or even £50m from the massive syndicates who regard(ed) Betfair as safer than any bank, but not £600m. So the error has to be something technical. However, rumour has it, a helpdesk reply (not gospel, natur
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We're just getting our losses in early this summer. I'll keep believing.......ReplyDelete
Ba ha ha hah!ReplyDelete
What were the opening odds on this match?ReplyDelete
1.03 and 34 before the match started - it would be like the USA playing England in basketball... but this format of cricket makes an upset much more likely, it's so quick that one player hitting everything can cause a shock result.ReplyDelete
Maybe the second funniest result of all time :). It would be terrible if one of the major sides failed to make the super 8 stage......ReplyDelete
fair enough, but at least the teams that beat us had a world ranking...ReplyDelete