Matchbook just cancelled my bet, give your opinions

[BadAzz]

I'd like to get your opinions here.

I got Memphis +5.5 at price 3.02 (+202) and the market average would have been about 1.95 (-105). Quite quickly my bet got canceled and they gave the following rule as a reason.

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Matchbook reserves the right under extraordinary circumstances to break trades that are the result of an obvious and extreme input error. An example would be if a client is matched on a heavy underdog at 1-25 odds instead of 25-1 odds. Note that this rule protects against technical errors, not pricing errors, so while a match at odds of -150 vs. a prevailing market value of -115 may be regrettable, it could not be classed as an obvious and extreme input error.
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The market information was correct, right spread, right home team, etc. I feel that my bet falls in this category
protects against technical errors, not pricing errors, so while a match at odds of -150 vs. a prevailing market value of -115

much more than this
1-25 odds instead of 25-1 odds

This will cost me about 1200$ in lost profits, which is not a big deal, but I think the rule states the bet should stand.

The sucky thing of course is that I hedged the bet and my whole Matchbook balance is now on Memphis ad I do not know what they will do, since they refuse to answer my emails. Well, they did answer that my mail has ben forwarded to proper department and they will answer in 24-48 hours. Which is very nice since the game starts in 2 hours

And of course I have a 6 hour drive tomorrow morning at 07.00 so i would like to go to bed as time here is 23.30

Feel free to give your opinions.

[Matt Rain]

Screw Matchbook and the idiot who offered +202... it's no that far off that it needs to be canceled, IMO.

[The HG]

Yeah, the lesson here is NEVER use a Matchbook bet involved in a hedge, because they sometimes cancel wagers after a game has started.

This happened to me once, in MLB. I was making planned line-movement hedges on MLs. I made an offer on one side on an overnight line, only a little of which got matched. In the morning they were having tech issues, by the afternoon they were back up. That afternoon I took the other side of my hedge for a locked in profit. After the game was over, I was notified that they decided to cancel all wagers from that afternoon. Of course, the side of my hedge that was the winner got cancelled, the side that was the loser stood. I was simply lucky that a whole lot more of my initial offer didn't get matched, or I would have lost a ton, as I regularly made offers with a much bigger pct of my bankroll than I would ever make on any bet. That was the last time I ever used Matchbook in a hedge.

[BadAzz]

I am now actually in a situation where my free Matchbook balance is a couple of hundreds below zero.

[ShamsWoof10]

Well Duuuuuuhhhh... +5.5 +202 and +5.5 -105 are nowhere close to each other... They are correct to cancel this and you are inexperienced to take it....

[BadAzz]

Shams, I know they are not close and of course i would not take it at a regular book. Exchanges are a different story though and their example of -115 to -150 is percentagewise not that far of from my numbers. At least compared to the other example they have.

Anyways, opinion noted, but I think they should change the rule a bit then, don't you?

[Justin7]

Matchbook reserves the right under extraordinary circumstances to break trades that are the result of an obvious and extreme input error. I would call +200 vs a market of +100 an "obvious and extreme input error".

[BadAzz]

HG, I should know better, I agree. If they just would answer my email and I could hedge something and pay the couple of hundreds so i cuold go to sleep, that would be awesome.

[BadAzz]

Justin, why is the pricing thing in the rule then?

[The General]

The 202 vs 105 is a legit error IMO.

JMO. I'd have a Johnny Cochran hard time arguing them over it.

GL

[betplom]

Matchbook reserves the right under extraordinary circumstances to break trades that are the result of an obvious and extreme input error. I would call +200 vs a market of +100 an "obvious and extreme input error".

Interesting, what would happen if during a live event someone offered -9000 moneyline on a team up by 10 points in the 3rd quarter and someone took the bet, would matchbook intervene?

[BadAzz]

I don't think they cancel anything in live events. I am treating this as lesson learned. Matchbook needs to be treated like a regular book, not like an exchange. Betfair or BetDaq do not cancel anything if the market information is right and the match is not deemed fixed. But I still do not like their wording on the rule. Get rid of this one

Note that this rule protects against technical errors, not pricing errors, so while a match at odds of -150 vs. a prevailing market value of -115 may be regrettable, it could not be classed as an obvious and extreme input error.

and it is ok.

And send the goddamn answer on my email

[BadAzz]

One more note. As my balance is now -278 dollars I actually cannot hedge the bet. Matchbooks software will not allow me to place the bet on the other side. It says I have insufficient funds. Now effectively I am forced to freeroll Matchbook for that part of my bet as I cannot hedge it back. Any ideas here?

[sinkhole]

what a JOKE that they cancel that!
why do they care what price u got...
at betfair someone bet at soderling against nadal at +100 and it did not get canceled