Pinnacle canceled my bet

[Cyntax]

Dear Client,
As stated in our Web-Site rules, Pinnacle Sports reserves the right to cancel any wager made on an obviously "bad" line. The incorrect favorite was listed.
For this reason we have canceled your wager on Tennis , W&S Open: U. Radwanska vs A. Szavay, Game August 11, 2009.
You may go to your account and replay the event at the correct price.
We apologize for the inconvenience.
Kind regards,
Customer Service Department
Pinnacle Sports
------
Is this common at PinnacleSports?

Okay, the truth is I am surebetting (arbitrage) and I found this surebet on this tennis game.
The arb was 7,2% (2,19@Bwin and 2,1@Pinnacle), usally I don't take arbs higher than 5%. But in this case it was between the two best betting sites I use: Pinnacle and Bwin. (I know many of you hate Bwin, but I love them!)

Ofcourse I lost, 1000 SEK ($140).

However, I found that Ladbrokes has different rules when this happens:
---Copy from Ladbrokes FAQ---
Ladbrokes make every effort to ensure that we do not make errors in accepting bets. However, if as a result of human error or system problems a bet is accepted at a price (which includes the odds, handicap provisions, and other terms and conditions or details of the bet) that is:

(i) materially different from those available in the general market at the time the bet was made; or
(ii) clearly incorrect given the chance of the event occurring at the time the bet was made then Ladbrokes will pay winnings at the correct price.

To establish the correct price Ladbrokes will consider prices available in the general market at the time the bet was made, including the prices offered by William Hill and Coral.

Examples of circumstances where this would apply are:
(i) the price is recorded as 100-1 when the price on offer in the general market is 10-1
(ii) the margins for handicap betting have been reversed

If a bet is accepted in error by Ladbrokes on an event or outcome for which no Ladbrokes prices are available the bet will be void and your stake returned.

Any results or scores displayed on the site – for example during betting in play – are for guidance purposes only.
----End of FAQ---

And then I was thinking about "the ToteSport scandal" earlier this year.

We have the Pinnacle way, the Ladbrokes rule and the ToteSport scam.

Wich do you think is the best and most fair between Pinnacle and Ladbrokes?

In this case I would have preferred the Ladbrokes way.

Is sending an email enough? Should the betting site also call or send a sms-message on your phone?

What do you guys think?
/C

[tomcowley]

Pinnacle way by far, although it seems debatable that these were obviously bad.

[moonbeam]

It was an obviously typing mistake imo.

But I can understand you are pissed.

[Cyntax]

Pinnacle way by far, although it seems debatable that these were obviously bad.

Yeah. I thought Pinnacle started with lower limits and when they know better how the market reacts they increase the limits. And they are very fast at changing odds. I agree, was this really a bad line?

They wrote: "The incorrect favorite was listed."
If one tennis player has 2,10 and with normal Pinnacle juice the other should have like 1,84. (dont remember)

2,10 <-> 1,84. That's 47,62% and 52,38%.

The difference is 4,76%. Is that really a bad line??? WTF!?

[streetboy]

arbs between 2 books is always a risk.

[Stumpage]

Cyntax, I'm sure you are aware of this, but at times you just have to let it go when it appears "too good to be true", which this most certainly was.

Incidentally, perhaps you mentioned it and I just missed it while skimming through, but I presume this was Live betting?

[nitzantal]

Pinny is fair - if there void they will usually do it within minutes of them realising the mistake and they will email you - and if you are arbing you should know that... risky business this arbing - you need to know what you are doing ... stick to a normal job ... arbing these days has become nearly impossible.

Other books will void after the game is finished - including Bwin

[HeeeHAWWWW]

Obvious bad line, if you take it you're going to get voided at most books.

[Cyntax]

arbs between 2 books is always a risk.

No, it's not.
I sometimes get arbs between Pinnacle and... PINNACLE! And it works fine.

Cyntax, I'm sure you are aware of this, but at times you just have to let it go when it appears "too good to be true", which this most certainly was.

Incidentally, perhaps you mentioned it and I just missed it while skimming through, but I presume this was Live betting?

Yeah, I know. This is not the first time something like this happens. It's 2-2 so far for the last two months.

No, it was not live betting. I don't do live betting at all.

Pinny is fair - if there void they will usually do it within minutes of them realising the mistake and they will email you - and if you are arbing you should know that... risky business this arbing - you need to know what you are doing ... stick to a normal job ... arbing these days has become nearly impossible.

Other books will void after the game is finished - including Bwin

Yes I know. I should have checked my email more often.

$140 is about 0,5% of my "surebetting bank roll" ($28000). I manage to wager about $6000 on surebetting every day and my profit is about 1% avarage + bonuses.
$60 a day is $1800 / month. Where I live this is a fair monthly income. And since I am still a student (last year at the university) I think $1800 is good. It's really not that much hard work. I can study at the same time.

So for, never any problem with bwin. I love bwin!

Obvious bad line, if you take it you're going to get voided at most books.

I can live with that.

This arb was 6,68% (I was wrong about the odds at Pinnacle, it was 2,08 and not 2,10 as I first wrote). Odds @Bwin was 2,19 and Pinnacle first had 2,08 -> adjusted to 1,75 later (+108 to -125).

Maybe this thread is in the wrong sub forum. I want to discuss "what is a bad line"? When should I stay away from arbs (how high %)?

I draw my line usally at 5% and then I keep the bets rather moderate. When I find arbs between 0,5% and 1% I can bet up to $3000.

[durito]

Put it this way:

keep doing what you are doing for a year or so and see which book you prefer, bwin or pinnacle

[Barbarian]

get same kind of ticket cancelled
odds on Szavay actually started somewhere at 2.22 (maybe even higher) and by the time I made the bet odds were 2.14
so mistake % could initially be much more than 4,76% on your calculation and for Pinny it was just about offering wrong side as a favorite