Betfair is blaming a technical glitch for a trading frenzy at inflated odds on the favourite in a race at Leopardstown and has declared the bets void.
A total of STG1,642,094 ($A2.55 million) was matched in running at 28-1 on Voler La Vedette who went off the 13-8 favourite on-course and won easily.
The Betfair graph showed over STG21 million ($A32.61 million) was offered to back Colm Murphy’s mare at the longer odds, even though she was always in contention and looked the obvious winner even before the final flight.
Betfair suspended the market in order to investigate with many of the exchange’s members in a state of shock on the website’s forum.
After lengthy discussions, it was revealed there was a technical error and that all bets on the event would be cancelled.
“Customers betting in-play on this race will have seen that Voler La Vedette was available to back at 29 when the in-running market was suspended, and that a considerable sum was matched on the clear winner at that price,” a statement from Betfair said.
“An investigation has revealed that this was due to an obvious technical failure which allowed a customer to exceed their exposure limit.
“In accordance with our terms and conditions, all in running bets on this race, both win and place, will be made void.
“We fully appreciate the dissatisfaction this will cause many customers, and apologise for a very poor customer and betting experience.”
PA AAP TURF
