Will an Exchange Palp a wager ?

[bigloser]

Has anyone placed a wager on an exchange and then had it palped ? Of course this shouldnt happen but I seem to remember reading that Parbet once did this, and maybe something about Mansion too.

If they dont palp doesnt this put them at a huge risk on seeded exchanges ?

[Ganchrow]

I believe that Mansion and Tradesports/Intrade both have a policy of palping "clearly erroneous wagers". Basically, if you bet into an obvious error, they'll probably bust the trade -- the problems of course occur at the margin.

I'm not sure about Matchbook, but I'd assume they have a similar policy.

[bigloser]

I believe that Mansion and Tradesports/Intrade both have a policy of palping "clearly erroneous wagers".

I'm not sure about Matchbook, but I'd assume they have a similar policy.

Mansions rules state the opposite

"Internet bettors should check their bets for accuracy before submitting for confirmation. No bet may be cancelled, changed, or modified by the bettor, in any way, once the transaction has been confirmed."

Of course this doesnt mean they wont palp it.

Betfair will not palp bets , I cant think of a reason why palping should be allowed but I would like to hear from anhyone who has had it happen.

[Arilou]

I know matchbook has a policy for canceling wagers in extreme situations. I've never been inolved in anything approaching one,and the few times I realized a few seconds later I'd made a mistake I lived with what I'd done.

[Arilou]

Maybe I'm thinking of a different kind of canceling wagers, in case your connection fails. That line from bigloser does ring a bell, and I agree: Your mistake, you live with it.

[Ganchrow]

Mansions rules state the opposite

"Internet bettors should check their bets for accuracy before submitting for confirmation. No bet may be cancelled, changed, or modified by the bettor, in any way, once the transaction has been confirmed."

Yeah, I was speaking from memory, which obviously failed me. It may have been Tradesports and Matchbook.

[Ganchrow]

It must have been Matchbook.

From their website (emphasis added):

To further protect clients against "trap offers," malicious users, technical faults, and so forth, 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."

[bigloser]

Yes , tradesports terms suggest they will palp aswell. Tradesports will act in the interests of both members. What happens if one side of the trade is the exchange though ?

[Bill Dozer]

TS has voided some bets and left similar ones standing leaving the player with exposure he shouldn't have to keep. It would make sense if Betfair doesn't void since it is the only one mentioned that doesn't employ traders.