Betting exchange Smarkets (SBR rating C) has provided comment to Sportsbook Review concerning the €33,483 winnings complaint originally shared by a player on the SBR posting forum.
A player claimed that multiple winning bets were voided by Smarkets. He acknowledged that the lines were off-market but pointed to the terms and conditions of the betting exchange which states that users are responsible for bets placed including markets created and the price or side of the bet.
While Smarkets declined to discuss specifics citing third-party privacy, the betting exchange made the following comment:
Smarkets: "We are aware of the posts that have been made on SBR and are in communication with the customer in question. We can say that it is only in extreme circumstances, where obvious and significant mistakes are exploited in bad faith, may bets be investigated and voided."
SBR asked if Smarkets would honor the player's winnings if the Malta Gaming Authority (MGA) determined that the player's winnings were unjustly voided and was told that Smarkets would cooperate fully with the MGA regarding this case.
The player's next step is to launch a complaint with the Malta Gaming Authority.
Further posts were made on the SBR posting forum detailing that Smarkets has apparently been displaying reversed odds in recent weeks on select sports markets and that a thread at an arb chasing forum revealed the bug, which has been exploited by players looking to score an easy win.