The more I use Betfair, the more I realise that its odd little quirks all add up to it not being as profitable as one believes it may be.

I just had the pleasure of experiencing a deadheat on a place bet with Betfair.
My horse finished officially equal 3rd.
That means my bet for a place did not lose.
On every tote and sportsbook I either made a small profit or got my money back.
But not on Betfair.
For some amazing reason they have decided that in a deadheat you lose some of your money. Even though I did not lose my bet, the balance of my account was lower after the deadheat had been paid out.
I imagine some of you will explain how my bet is reduced and a "loss" for me because Betfair also have to take into account those who place lay bets.
I disagree.
Those who had a lay bet on my horse should have lost their bet as my horse came 3rd - it came equal 3rd.

Anyhow... I have had my gripe :-) but it is an interesting idea that one can lose on a winning bet.