Oh dear its all going off at Betfair (allegedly)
A glitch in the software had been identified.
Anyway my understanding is that from 3-6am on Thursday night 100s of 6 paks were played where everyone went all in 1st hand. Each time winner was paid and all 5 others were paid as 2nd due to the glitch that had been identified. These were all 1000$ games.
It seems Betfair paid out 1.7$ million during this period. Im sure this story will run and run and will be interesting to follow what happens to the funds.
Is it fraud?
or is just people taking advantage of added value / software issues?
I will follow with interest and Im sure this story will make the poker mags this month.
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6 comments:
It doesnt appear alot of people know about this Soapy. I was told following day it happened by P but it all seems quiet on the western front. Keep us informed- cant see how those involved will be allowed to keep the money if it is true!
I only know what you've told me. Have Betfair had anything to say on the matter? Is stuff posted on the forums just getting moderated? Also very interested in any outcome, I imagine than the T&C's are pretty watertight but this is a tough one, the games were played completely fairly after all!
lol - Iam busy and cant keepu with this on bf - i presume they will be deleting. Please keep me updated as this sounds hilarious!
Not a scandal, but an exploit of erroneous code... maybe you could rename the title to something like
'Betfair SnG exploit!" :)
It was occurring in the rare situation when players would tie for 2nd in a SnG ie possible by going all in on the very first hand (ie everyone who is all in having equal chips before the hand)
The $1.7m payout sounds right - however that is not net loss on Betfair's part. Actual $ loss due to the increased prize pools was <$100k and under the terms and conditions any player who receives winnings incorrectly is not eligible to receive those winnings.
Fair Enough.
So Betfair's financial loss is quite minimal.
I guess the guys who began taking advantage of this bug should have read the terms when they signed up, or had a little common sense, because now they have broken those terms and subsequently have been banned.
They haven't been banned at all. Just had their accounts suspended. And betfair are yet to contact any of the account holders or make a statement on the matter. I believe £1.7m to be just an estimate from one of those involved which is a fair amount higher than $1.7m. Will be interesting to see how betfair recover the money that's made it to people's bank accounts...
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