25th April 2005, 04:18 PM
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Member
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Join Date: Jan 1970
Posts: 359
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Quote:
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Originally Posted by Sportz
Well, the guy that accepted those odds was probably like me and didn't know what the heck he was doing. I think there should be some way of protecting people from making mistakes like that.
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Sportz,
The usual protection is that Betfair won't let you offer a bet unless you have sufficient funds in your account.
So, for instance, if I hold only $500 in my account, Betfair will only let me back or lay to a total of $500 to lose. Because the minimum wager is $6, my maximum price to lay with that balance would be $83. If I tried to lay a horse at 100/1 or 1000/1 Betfair would immediately reject the bet without anyone else seeing it or having the opportunity to take it.
The offeror of the bet BJ mentioned must have had at least $12,000 in his/her account.
Anyone with $12,000 sitting in a non-interest-bearing account must be a fairly lively punter, and should not need any protection.
Cheers,
Filante |