Betfair £600 Million Technical Blunder


01/24/2012
By Maria McCoyGoogle

As a result of what Betfair employees are calling a technical error, all the bets placed on the Leopardstown Christmas Hurdle were canceled retroactively 36 hours after the end of the race.  On the popular betting and online casino website Betfair, quite unusual odds, 28-1, were placed accidentally on the Voler La Vedette racehorse that most experts understood stood a very good chance of winning.  If the bets were not cancelled, one customer would have walked away with 23 million pounds, though on the other hand that customer would have had to be holding over 600 million pounds in his account.

Betfair’s spokesperson, Tony Calvin, explained that the chances that someone intentionally sabotaged the system are slim to none.  He believes that a technical glitch enabled the customer to exceed his betting limit.  The company looked into why their software allowed for the deviation, fixed the bug, and is currently running thorough tests to ensure that the situation will not replicate itself in the future. 

Calvin further explained that the problem was specific to that player’s account.  Even though the problem was a technical error on Betfair’s end, nonetheless the customer violated the Betfair terms and conditions by making a bet that wasn’t backed up by cash in his account.

Calvin assured that the specific error will not be replicated adding that it was embarrassing in the first place that it even happened.  He also sought to clarify that the bets would have been voided regardless of whether or not Voler La Vedette won. 

Betfair’s website offers top online casino games in addition to all types of sports betting.  Betfair Mobile offers mobile online casino games for smartphones and tablets.


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