Betting pricing and information mistakes
Bookmakers typically offer a wide variety of betting markets at any given moment. From time to time obvious errors are made, either through human or system error, and bets are accepted at a price that is materially different from those available in the general market or clearly incorrect given the chance of the event happening at the time the bet was struck.
Examples of pricing mistakes:
- The price is recorded as 50/1 when the price on offer in the general market is 5/1
- The prices offered on a tennis or snooker match have been accidently reversed.
Bookmakers will typically have a term and condition that allows them to rectify what they perceive to be any obvious errors.
Exact terms and conditions will vary from business to business including voiding bets, resettling bets at the correct odds or resettling bets at the best price available in the general market.
In the event of a complaint or dispute, you should contact the relevant bookmaker who should investigate in line with their internal procedure and inform you of the outcome.
Other types of errors
A bookmaker might also make a mistake when providing other information. For example, an event summary may contain incorrect information or a score line may be shown incorrectly during betting in-play.
Terms and conditions will typically state that all information is provided for guidance purposes – this is something that you should be aware of when making betting decisions.
Related contingency bets
Related contingency bets include one or more events where the outcome of one event contributes wholly or partly to the outcome of the other.
As one outcome would affect the price of another outcome these types of bets are not usually accepted unless offered at a revised combined price. Related contingency bets accepted in error should be settled according to the bookmaker’s terms and conditions.
Examples of related contingency bets:
- Andy Murray to win the semi-final and be Wimbledon champion
- Willie Mullins to be top trainer and Ruby Walsh to be top jockey at the Cheltenham Festival
- Jamie Vardy to be top League goal scorer and Leicester to win the League title