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BETFAIR APPEASES SOME PUNTERS OVER VOIDED BETS
01/12/2012 : Certain categories to receive ex gratia payment
Betfair has released a statement following a backlash from punters and industry observers over the company voiding bets on the Christmas Hurdle horse race at Leopardstown last month following a technology failure.
Considering internal discussions, recommendations from the Gibraltar Gambling Commissioner (GGC) on a detailed report Betfair submitted to the authority and extensive customer consultation, the company has reviewed its decision to void all in-running bets matched on the race and will compensate, via ex gratia payments, certain categories of the voided bets, it announced today (Wednesday).
The relevant accounts are reported to have been credited and the company is quick to point out that the compensation goes beyond the GCC's recommendations.
According to the statement the following categories of bets compensated are:
1. In-play winning positions in both the ‘win’ and the ‘to be placed’ markets which were achieved before the technology failure; and
2. In-play winning positions in the ‘to be placed’ market achieved at any time through to the completion of the race.
Bets matched in the ‘win’ market after the technology failure will remain void with Betfair referring complaints to the Independent Betting Arbitration Service.
A refreshingly candid Steve Morana, interim chief executive officer at Betfair, said at the time that the company realised how much damage the incident has caused to its reputation as well as its share price, which dipped significantly before the exchange closed following the debacle.
Viewed as a show of good faith, this gesture is sure to count towards bolstering both its reputation and trust factor, with some punters at least.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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