Biggest ever loss on Betfair?

28/12/2011 | By More

One of those remarkable events happened today on Betfair when, in the Christmas hurdle at Leopardstown, Voler La Vedette was offered up in-running for massive money at massive prices despite the fact it won.

Seemingly, over £21m was offered and held in-running to get filled at HUGE prices. £1,642,094 was matched at 29’s meaning the loser would have to pay out £44.8m on their bet at 29’s. In order to be able to just place the bet the user would have needed near on £600m in their account. Which is of course impossible, as all the users added up at Betfair don’t have those funds available.

Massive speculation abounds on what could have possibly caused, what looks like a catastrophic error. Was this a system error at Betfair, a bot error, or something unknown. Have Betfair just taking a massive bath due to an errant bit of code or did somebody else? How could such amounts be offered at such prices? It looks like a bug / system error to me, but early reported discussions with Betfair helpdesk indicate that it is not an error. I guess we will have to wait and see. Some people have reportedly made significant profits from the glitch, however it occurred. The market is still suspended and we await an outcome.

Read all about it in the forum

Tags: , , , , , ,

Category: Betfair

About the Author ()

Loved sports and statistics all my life and eventually found a way to make a living from it. On this blog I chat about my experiance in the market and my opinions.

Comments are closed.

Hypersmash.com