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> </o>> </o>> </o>> </o>> </o>Hi Voodoo:
I still don’t have your Betfair username so I can’t look into the specific bet but here are my comments so far (from reading above…):
MARKET INFORMATION
- You bet on Half Time Odds.
- Standard Rules Outside of North America (Betfair is a UK-based betting exchange): If it's a tie at half-time, then you get back 'half the face value of your ticket'....
- You should always understand the rules you are betting into, especially when betting into a different country.
- Now with Betfair, you don’t lose half at all. You get back half your return... if you backed at >2 (+100 TO +10,000), you're in front... if you backed something <2 (-100 TO -10,000), then you are down (See Cupisz example above)
- If a Brit bet into TheGreek, he has to cop Vegas rules...he would get his money back. If a Canadian bets into the UK, they have to deal with UK rules.... just like there are four different sets of rules on tennis... ALWAYS be familiar with the rules you are betting into, no ifs, ands or buts
- Conversely to #4 above, laying at short prices (<2) becomes a winner in a tie/dead-heat, and laying high prices (>2) loses
- The rules are clearly displayed beside the market, there's nothing hidden here – see below.
- Cusipz is right on the formula and the examples given by Betfair in the rules section are also below.
- The “house” does not take the “extra” money. (Betfair is an exchange so there is no house – people are betting against one another and we take a commission off of winning bets-markets actually).
- Voodoo, I understand that this is an annoying situation BUT HAD YOU COME OUT AHEAD AS Cupisz demonstrates above, would you have POSTED that you came OUT AHEAD?
For further information please see Rules & Regs.
Which team will be leading at the HALF time interval of this game? Dead Heat rules apply. At the start of play all unmatched bets will be cancelled and the market turned in-play. Please note that this market will not be actively managed therefore, it is the responsibility of all users to manage their in-play positions.
Rules & Regs. LINK
8. DEAD HEATS
o Unless stated otherwise in the Specific Sports Rules and/or the Market Information the Dead Heat Rule applies to bets on a market where there are more winners than expected (as set out in the Market Information).
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o For each matched bet on a relevant winning selection, the stake money is first reduced in proportion by multiplying it by the sum of the number of winners expected (as set out in the Market Information) divided by the number of actual winners (i.e. stake multiplied by (number of winners expected/number of actual winners)). The winnings are then paid to the successful backers on this 'reduced stake' (reduced stake multiplied by traded price) and the remaining stake money is paid to the appropriate layers.
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o For example, assume there is a dead heat for first place between three horses. 'Client A' has backed one of the winners for a stake of 300 at the traded price of 4.0 and 'Client B' has taken the other side of this bet. When the event is settled, the stake (300) is multiplied by 1/3 (i.e. the number of expected winners (1) divided by the number of actual winners (3)) to calculate the reduced stake (100) and the remainder given to the layer (200). The backer then receives the traded price matched (4.0) multiplied by the reduced stake (4 x 100 = 400). In this example, Client A's net winnings are 100 (400 payout minus the original 300 stake), and Client B's net losses are 100. Alternatively, this can be viewed as the full amount paid to the traded price divided by the number of dead-heaters. In the above example this would be 300 at the traded price of 4.0 (1200) divided by 3; making 400 payout and 100 net winnings.
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o By way of another example, assume there is an outright winner in a golf tournament but 7 players tie for 2nd place. In the "top 5 finish" market, after settling on the outright winner in the top 5 market there would be 4 other designated winners places available. 'Client A' has backed one of the winners for 300 at the traded price of 4.0 and 'Client B' has taken the other side of this bet. When the event is settled, the stake (300) is multiplied by 4/7 (i.e. the number of expected winners (4) divided by the number of actual winners (7)) to calculate the reduced stake (171.43) and the remainder given to the layer (128.57). The backer then receives the traded price matched (4.0) multiplied by the reduced stake (4 x 171.43 = 685.72). In this example, Client A's net winnings are 385.72 (685.72 payout minus the original 300 stake), and Client B's net losses are 385.72.
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