Bookmakers pricing errors

[fintron]

The story behind this thread isnt racing related but Im sure we can expand it to include racing, but here goes. Last night I was in a William Hill shop with Wizzkid Walter and he noticed the handicap in running price of Cameroon +1 (vs Denmark) to be 9/2. Quite clearly this was a cock up on the part of the bookmaker as the match was 0-0 and only 3 minutes played. Considering Cameroon would likely have been around evens to win the game in the 90 minutes market, their price with a goal head start should have been odds on. I dont think they got the numerator and deominator mixed up as 2/9 would have been too short, rather they should have probably put Cameroon -1 instead of Cameroon +1. Anyway we quickly got our cash on and the lady behind the counter confirmed if the match was drawn, we'd win our bet. If the match had ended in a draw, would they have paid us out? I only had a fiver on at 9/2. Would Hills risk losing a customer for the sake of £22.50 even though the guys at head office responsible for the prices on the monitors had made a glaring cock up? Has anyone had any similar experiences to this racing, and how were they resolved? My only racing one similar to this was at Catterick one new years day. One of the on course bookies was last of all to put her prices up and was copying off the RP tissue, except she put a horse up for 11/1 instead of 11/2. I didnt fancy the horse but realised she'd cocked up, and asked for a tenner on. She printed the slip but when looking at it before handing over, realised her error and said I couldnt have 11/1. I wasnt sure where I stood so said I no longer wanted to back the horse. It went and won as it happened!! Where does the punter stand in such situations?

[TheRat]

Re: Bookmakers pricing errors There are terms saying if it is a clear mistake they don't have to pay There was an error with William Hill the other day and a punter had bet on a yellow card in the first 15 mins of the USA Slovenia game and another and they had a 2.5mil liability on it. It was a mistake with their odds generator thing. Wasn't a yellow in the first 15 of the game anyway but I don't think they would have had to pay out

[BillyHills]

Re: Bookmakers pricing errors I could go on all day about this but wouldnt be popular? The rules from WH

18. ERRORS OR OMISSIONS 18.1 A number of circumstances may arise where a bet or wager is accepted, or a payment is made, by us in error. A non-exhaustive list of such circumstances is as follows: 18.1.1 where we mis-state any odds or terms of a bet or gaming wager to You as a result of obvious error or omission in inputting the information or setting up a market, or as a result of a computer malfunction; 18.1.2 where we have made a 'palpable error'. A palpable error occurs where: 18.1.2.1 in relation to bets placed prior to an event taking place, the prices/terms offered are materially different from those available in the general market; or 18.1.2.2 in relation to any event, the price/terms offered at the time the bet is placed are clearly incorrect given the probability of the event occurring; 18.1.3 where we have continued to accept bets on a market which should have been suspended, including where the relevant event is in progress (except where 'in-running' bets are accepted) or had already finished (sometimes referred to as 'late bets'); 18.1.4 where we should not have accepted, or have the right to cancel or re-settle, a bet pursuant to the Betting Rules (for example due to 'Related Contingencies'); or 18.1.5 where an error is made by us as to the amount of winnings/returns that are paid to You, including as a result of a manual or computer input error (commonly referred to as a 'settlement error'), any such circumstances being referred to as an "Error". 18.2 We reserve the right to correct any Error made on a bet placed and re-settle the same at the correct price or terms which were available or should have been available through William Hill (absent the publishing error) at the time that the bet was placed and the bet will be deemed to have taken place on the terms which were usual for that bet.

Years ago when bets were manually settled by the manager you could get away with errors, and indeed some managers would or could use their discetion but I think nowadays the computer settles the bets and many errors are picked up in translation.

[wizzkid walter]

Re: Bookmakers pricing errors ''Eya Fints, just check something. Does that say Cameroon to win the game 7/4, but Cameroon +1 is 9/2?'', ''Yeah'', ''Well we ******* need to get on that then don't we!!!''. Pity it lost but it was a bet I simply couldn't refuse

[fintron]

Re: Bookmakers pricing errors Lol wizzkid, we are like an excited pair of schoolboys. Bad news for punters then. Basically, bookies can squirm out of any situations they want, yet shaft over winning punters when they are profitable, when restricting and/or closing down there accounts. I must say, VC bet are good to punters. A few years ago in the cricket world cup a mate pointed out to me a pricing error at 5/1 that should have been 1/5 as the team were cruising the game. In that instance VC bet did pay us out at 5/1, so I suppose you have to hope you get lucky a bit as well?

[League1_punter]

Re: Bookmakers pricing errors I have been fortunate enough to be payed out from a bookies mistake. A Japanese game had been playing for 75 minutes with the away side winning 3-1 when the game was abandoned. They agreed to play again a few weeks later but carrying on from where they had left. So it was a 15 minute game with the away side 3-1. The bookies had given the home side odds of around evens and the away side around 11/4 even though they were 3-1 up with only 15 mins to go. I lumped on the away side, they won 3-2 and suprisingly they payed out. I kepe hoping i find another scenario like that :hope

[TheRat]

Re: Bookmakers pricing errors I guess it depends on the bookies liabilities

[fintron]

Re: Bookmakers pricing errors i reckon so rat. Did anyone hear about that guy that did a crazy accumulator, for it to snow in all the main cities in england? I think it was posted on here somewhere. Each city had individual odds of approx evens, but combined he would have stood to win a million off just a few quid stake. Obviously in that case he was naive to think the bet would stand as they were clearly related selections, but in the case of our bets we have mentioned about i think you could argue they werent obvious errors. 11/4 to win a football match or 9/2 to win with a handicap are generous odds but they arent outrageous, like 50/1 or something which would be an obvious error?

[Jimmy2shoes]

Re: Bookmakers pricing errors The rules are simple with Bookmakers, we are not supposed to win. I've been refused some bets from time to time or they have took the bet but gave me shorter odds on the race. I also got banned from one shop who had up one day a rule 4 but also had up from the 8 horses running, 8 ran, make up your mind.

[Kithanga]

Re: Bookmakers pricing errors It's happeded a few times to me, most recently 'won' over a grand on Albaqaa on 13th April this year at Pontefract when Betfred priced it at 14-1 first thing in the morning. I only had about £100 in the account and backed it win & place. They just cancelled the bet about two hours later and claimed 'pricing error' which was within their rules. However the rules also state that if you back a horse in error the bet stands. Heads I win, tails you lose. After that I've always checked, even if it means missing the bet as you can't win. Hills won't give you your money back now but may not have paid you if it was successful either so is it worth it? It's interesting to note that Betfred got even tighter with me on accepting any bets after that. Every subsequent bet knocked back to small stakes. I guess they took offence so I just closed the account. Funny thing is that they would have made a lot out of my bad run if they'd layed the bets as they all lost!