An excellent post.

[CrazyJoe113]

boooooooooooo..... they all got off, disappointing

[SuperSnort]

how do you know that crazyjoe? i didnt see that post. what happened did betfair just pay up themselves? also lolololol

[CrazyJoe113]

[ QUOTE ]
how do you know that crazyjoe? i didnt see that post. what happened did betfair just pay up themselves? also lolololol

[/ QUOTE ]

http://forums.moneysavingexpert.com/....html?t=387760

4th post:
"These people are not being 'let off' so to speak. Their accounts went into credit and Betfair does not offer the facility, so they are unable to enforce those involve to pay for the line of credit that was supposed extended to them."

So apparently since Betfair can't offer credit, they cant be responsible for the money they were "lent". They lost their balances though, which is something at least.

[ajml]

I especially like how they instantly began bitching that befair was ripping them off when their whole intention was to rip betfair off

[Yeti]

[ QUOTE ]
I especially like how they instantly began bitching that befair was ripping them off when their whole intention was to rip betfair off

[/ QUOTE ]

no

[mustmuck]

I remember hearing about this when it happened. There's a few things I don't know though. It's a long thread, and I didn't get through the whole thing.

I believe that people lost money because they didn't "win" the wagers where the player didn't get off the bench, instead these wages were void. Is this correct and is it the entire reason they lost?

I thought that betfair would make sure that you can cover all of your exposure on the bets you lay (by having the $ in your betfair account). Is this not the case? If this is usually the case, what allowed these people to create exposure greater that what they had in their accounts? It would have to be a logic bug on betfair's end?

I also noticed that everybody in the thread seemed to want to instantly defraud betfair by canceling their cards etc., which is actually pretty lame.

[mustmuck]

I think I may answer my own question by saying that not only did the people laying think that the profit was guaranteed, but the betfair system thought the same ... which is why it let them over-expose themselves?

[Yeti]

correct

[keikiwai]

Dutching?

I know what going Dutch is, but what is Dutching?

[Lori]

[ QUOTE ]
Dutching?

I know what going Dutch is, but what is Dutching?

[/ QUOTE ]

some explanation