Matchbook and voids

[wack]

Can't find the thread but someone the other day was saying matchbook voided on them a few times citing palpable error?

How can this be the case unless they are heavily seeding their own exchange? If they are seeding, with 2% commish, this is very dangerous.

[ShamsWoof10]

What's seeding..?

[orbit]

wack ... i too have had this happen on many occasions with matchbook and dont understand it one bit!! This is supposed to be an exchange so how can they claim palpable error ... betfair does not do this ... mansion does not di this ... if you screw up and put a bad number up and it gets taken tough luck ... this is a clear indication that matchbook seeds with their own money ... thats the only conclusion i can come to ...

OR ... they have such few market makers that they protect them as much as they can in order to not piss them off ...

Funny thing i I have had cases where it looks like an error and the matchbook side loses and there is no mention of the error ... how are we supposed to know??

[Preussen]

Funny thing i I have had cases where it looks like an error and the matchbook side loses and there is no mention of the error ... how are we supposed to know??

Well, it could be that those offers were not made by matchbook (if they really are seeding) so matchbook does not care or they were made by bettors who simply eat their mistakes while the ones voided happened because the makers complained about the palpable error (if matchbook wishes to protect the makers).

[mavs1978]

im sure they have seeded some market makers.. but i dont think iits a big problem.. but matchbook needs to cut that out immediatly.. how long after the submitted wager did they take it down? cna you give an example

[Doug]

I don't think they seed at all. Any voids must be real traps to catch new players.... really bad offers, any examples of voids ?

[LGBoots]

Exchanges should never void. If someone makes a bad error when offering a price then it's just hard luck

Punters have made some horrendous errors when offering prices on Betfair. I seem to recall one such error costing a punter £50k No chance of Betfair voiding it though.

If Matchbook are voiding then this would make me feel very wary about playing there

[orbit]

The bottom line is they do void wagers that have been matched. and LG is right ... betfair is a completely "free market' system where if you screw up too bad ...

matchbook is good but until they stop this practise they will always be questionable ...

[Doug]

Jordin Sparks yes



23no -510 $4,753
-540 $1,798
-700 $


No offers on YES, if you put out -50000 ( +500 is more like it), and somebody took it, that might get a void. It would have to be extreme.

I'm not saying it's right, but can be done.

[JoshW]

So players that play into exchanges feel that mistakes like this should never be corrected no matter how bad?

[MrX]

Personally, I think a bad line rule is just, if not more, important to an exchange than it is to a book.

It's hard enough to get people to learn how to be comfortable making offers without the terrifying thought of a typo wiping out a chunk of your bankroll.

Why should a book have this kind of protection, but not an exchange player?

[raiders72002]

So players that play into exchanges feel that mistakes like this should never be corrected no matter how bad?

Mistakes should never be corrected at an exchange.

[Doug]

I don't have a problem with very extreme voids on Matchbook, but see both sides.

They aren't going to void +180, when -110 is market, probably needs to be +1800 to even have a chance of being voided.

[sportsfanatic]

WTF!? I'm a long time Matchbook member and this is the first I've heard of this. An exchange should never VOID bets. EVER. Otherwise you're going to have people putting up bad odds, losing the bet, and then getting Matchbook to void the bet. This is an exchange. Bettors put up odds they want. They can't go crying to Matchbook if they lose. Has anyone here actually had a bet voided citing palpable error by Matchbook? Aside from the one poster. Or is this just hearsay?

[Jay Edgar]

Never had a void at Matchbook over thousands of bets.

Sometimes there's no action due to the 2-second delay, but that's something different altogether, obviously.

[Doug]

I've seen some kind of statement from Matchbook that it reserves this right, I wouldn't worry about it, unless you are attempting to trap somebody with terrible odds.

[JC]

They used to cancel NASDAQ trades on Instinet when people made mistakes. Sometimes they weren't even that far off.

[Santo]

I've had one void at matchbook, and it was on a transposed market (+5 instead of -5) where the +5 was never available. I've had two bets stand (in my favor) on +2 transposed market when it was previously available (line moved -2 to +2 during the week).

In each case I matched the bet, and immediately emailed them to confirm, in the latter case stating that it had been available previously.

[tribet]

Bar a program error an exchange should never ever void a bet it's Caveat Emptor and if you don't know what you are doing tough.
I'll stick with Betfair if that's what they get up to.

[Santo]

It's only Caveat Emptor if the rules say it is.

Betfair suspending markets on goals isn't Caveat Emptor, but not suspending on touchdowns is. It depends on the rules of the market.

[mavs1978]

i have never had a bet voided.. but an obvious mistake.. like plus 5 or minus 5 i have no problem with

[Halo]

I have been using Matchbook for about 6 months now. I have never had a bet voided but I have had 3 of them disappear. I get the money back and it pretty much shows that no bet was ever made. When your bets get voided does it actually show as voided bet?

[BadAzz]

When you get your bet voided it just disappears. I think I've had 4 bets voided. One transposed market + instead of minus, one because of wrong team marked as home team and one ncaa basketball moneyline that was priced +400 instead of -400 I think. The fourth one was before they had the rule that allowed voids and they actually mailed me if they could void the bet I had. Somebody offered totals bet with price +1900. I let that poor soul out of the hook and Matchbook rewarded me with some commission credits.

[pags11]

twice during college hoops season I had an offer dissapear with matchbook...I put an offer of SDSU (at UNLV) +8 +104 in and had jury duty in the morning...by the time I checked my account in the afternoon, the line was +7.5 (-108)...sucked, but still won the wager (by a half point due to a UNLV missed FT)...

can't remember the exact 2nd time but I was pretty pissed off...

[Doug]

Did you look under "more" that's where alternate lines are, no reason this one should disappear, maybe just never accepted ?

[Halo]

They should email you or something if they void your bets. I didn't even think that the lines were off that much. I lost a lot of money because of the voided bets I thought I was loosing my mind and I didn't click submit or something dumb like that.

[BadAzz]

They do send a mail if they void a bet. At least I've always received one.

[pags11]

doug,

I looked everywhere bro...like I said, it only happened twice all season, and I bet 3-5 (sometimes seven) games per day so it was a rare occasion when it happened...

[wack]

How fast are they to let you know if they void - I had an NHL bet on totals that I thought should have been about -110 and they were +108, not ridiculous I know, it lost anyway - some above seem to be implying that they void after the event?

It would be a shame because they are great for US sports, way better than betfair and 2% commission for everyone is a solid model (I don't believe more than 2% commission is sustainable on US sports, betfair tried 3% for a while but have failed to capture any market, plus with their allergy to US customers and bets from the USA they now have no incentive and its back to 5% maximum commission).