11th of January 2012 Author: Johnny Karp
Ex gratia payment for some categories
After it voided bets on the Christmas Hurdle horse race due to a technology failure, Betfair had to face a number of angry punters and industry observers, whom it tried to appease by issuing a statement in which it has reviewed its decision to void all in-running bets matched on the race and decided to compensate, via ex gratia payments, certain categories of the voided bets.
According to the company, the relevant accounts have been credited to the following categories:
1. In-play winning positions in both the â€˜win' and the â€˜to be placed' markets which were achieved before the technology failure; and
2. In-play winning positions in the â€˜to be placed' market achieved at any time through to the completion of the race.
In terms of the bets matched in the â€˜win' market after the technology failure, they will remain void and Betfair will be referring complaints to the Independent Betting Arbitration Service.
Through the gesture, the company seems to hope to boost and reinstate its reputation and trust factor among at least some punters.
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