Dodger Posted February 3, 2008 Share Posted February 3, 2008 Just been to put my placepots on and the manager asked what I thought of what went on at Betfair Poker the other night (although it transpires this was a couple of weeks ago)...I hadn't heard anything. So...pinched from another forum is this post: Betfair Pays Out - Software Glitch Revealed Jan 15th, 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. Quote Link to comment Share on other sites More sharing options...
Dodger Posted February 3, 2008 Author Share Posted February 3, 2008 Re: Betfair get stung and from another: Anonymous said... Not a scandal, but an exploit of erroneous code... maybe you could rename the title to something like 'Betfair SnG exploit!" :) It was occurring in the rare situation when players would tie for 2nd in a SnG ie possible by going all in on the very first hand (ie everyone who is all in having equal chips before the hand) The $1.7m payout sounds right - however that is not net loss on Betfair's part. Actual $ loss due to the increased prize pools was Quote Link to comment Share on other sites More sharing options...
Dodger Posted February 3, 2008 Author Share Posted February 3, 2008 Re: Betfair get stung and bringing it up to date: Betfair orders poker players to return winnings Last Updated: 1:33am GMT 01/02/2008 Telegraph UK Betfair is demanding that around 20 online poker players return more than £100,000 in "winnings" after the company became the victim of a late-night sting operation, writes Alistair Osborne. The betting exchange has written to a number of account holders accusing them of collusion and ordering them to repay the money this week or face possible legal action. Players are alleged to have taken advantage of a computer glitch in some tournament games, which led to Betfair making erroneous payments to every participant in "certain all-in situations". These are where a player stakes all his chips on the outcome of a single hand. The coup has quickly become folklore on poker chat sites, with one participant on twoplustwo.com posting a succinct explanation of what happened: "The winner got the standard 1st place prize money. The 2nd place person got the 2nd place prize money. And the 3rd, 4th, 5th and 6th players also got 2nd place prizemoney!!! Obviously chaos ensued, with people testing it out again and moving up to the largest stakes possible. They were just all going all-in every hand as they were guaranteed to profit! I just wish I had been part of it." Betfair, which in 2004 switched from the Cryptologic software platform to an in-house system, rectified the glitch after a few hours and stopped large amounts being paid out. While talk that it paid out £4m too much is well wide of the mark, Betfair is pursuing those who profited from the computer error. In an email, Betfair said: "You recently received payments from playing Sit & Go STTs [single table tournaments] on Betfair Poker in circumstances that resulted in greater payouts than intended." Betfair said such games "were incorrectly set up to pay everyone involved in certain all-in situations and this was exploited by you and others to generate substantial returns in a short space of time. As I'm sure you can understand, the winnings received as a result of this exploitation must be returned." Betfair declined to comment. Quote Link to comment Share on other sites More sharing options...
The Quiet Man Posted February 3, 2008 Share Posted February 3, 2008 Re: Betfair get stung Waken up Dodger! :lol:lol:lol http://www.punterslounge.com/forum/showthread.php?t=60469 TQM Quote Link to comment Share on other sites More sharing options...
Dodger Posted February 3, 2008 Author Share Posted February 3, 2008 Re: Betfair get stung Doh...I did look through the posts but didn't spot it.:wall Quote Link to comment Share on other sites More sharing options...
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