Hollywood - Can a Bookmaker reduce the odds of a bet after the event has taken place

ashan Wrote:

---

> Under 2,5 goals around 7/10
> and over 2,5 goals 1/1 and 11/10 .
>
> It seems fair. If there was under 2,5 goals in
> the game, and the incorrect odds given , will
> Hollywood increase the price and pay more to the
> public if the score was Brazil 2 Cameroon 0. I
> dont think so .

This has always been my contention when a bookie tries to change the odds after an event.
I have never heard of a bookie paying out more on a bet because the odds laid were “too short”.

The team has NOT started adjusting any accounts or payouts as yet. We've got the whole team still investigating and discussing the way forward. I will keep everyone posted.

I'm not picking on Hollywood, but the bookies as a whole..................it must be the only business in the world where the consequences of every cock-up (which tend to be numerous) become the problem of the customer.
I have heard this stuff about terms and conditions but I question whether many would stand up,if tested!........................I was in the short term insurance industry and courts were continuously overturning terms and conditions that were regarded as unfair or unreasonable.
The problem is that few bets are large enough to make the effort or endure the cost....................If/When it happens one day , I would guess that they will settle out of court to avoid the precedent!

(you also cannot contract out of errors which could be construed as gross negligence)

Thanks Dev

The bet was placed last night and we need money to punt today.

Just curious. 1st one between India and Bangladesh .

I took no hundred to be scored and it was a rain affected game and got my money back.
I also took a bet with Bangladesh to score less than 250 runs and another less then 245 and lost both . .

Is is possible to get the money back I lost because it was a rain affected game.

ashan Wrote:

---

> Thanks Dev
>
> The bet was placed last night and we need money to
> punt today.
>
> Just curious. 1st one between India and
> Bangladesh .
>
> I took no hundred to be scored and it was a rain
> affected game and got my money back.
> I also took a bet with Bangladesh to score less
> than 250 runs and another less then 245 and lost
> both . .
>
> Is is possible to get the money back I lost
> because it was a rain affected game.


I bought a burger and asked for chilli sauce and they gave me ketchup,but by the time i noticed i had finished it...

Hi Clanners

The team has got back to me, and the decision has been made to pay out the market as is.

We are acknowledging the fact there was a price error with those markets, and that we were laying the incorrect price on those markets. However, acting out of good faith, we are making an exception here.

Please note we are not setting a precedence, and we still reserve the right to adjust bets where there are errors in pricing (as stated in our terms and conditions).

We apologise for the inconvenience caused with the delay in getting this market resulted, but the market has now been cleared.

Regards
Dev
Hollywoodbets.net Team

Seeing the bigger picture, good call Dev...(tu)

Well done Hollywood (tu) Can we please now have the exotics back for the UK meetings!!!!

Thanks Dev .

Good question ashan !! (tu)

Nice 1 Dev,wouldnt even have got a response from a UK bookie

Still feels like the response is an act of goodwill on the part of the bookie for an error that is not of the punters doing...:S

Methinks that there must be a tolerance limit to what the bookie can arbitrarily declare as an error in pricing a market...
eg...if price offered was 12/10 (45,5%) and correct price was 1/1 (50%), then "error" is within tolerance limit of eg 10% and should therefore stand...if correct price was 9/10 (52,6%), then this is outside the tolerance limit of 10% and adjustment should be allowed to the 9/10 +10% which is 1/1 (50%)...

Just a thought...

Those more knowledgeable about betting percentages can work out what the tolerance should be...