View Full Version : Arbitrage betting gone wrong

2nd August 2013, 09:59 PM
I recently tried arbitrage with baseball with the bookie Bet365. It backfired in a very unexpected way.
Bet365 had advertised the game total for a baseball game to be @ 29 for OVER 7. So I placed a $30 bet on at these odds for the OVER 7. I was shocked to see the odds so high and took advantage of them. Then about 1.5hrs later the advertised odds had dropped massively to 2 for the OVER and increased massively to 1.8 for the UNDER. So I put about $450 on the UNDER @ 1.8 odds, because I could see in my betting history that the OVER bet for $30 was locked in at odds of 29. This looked like a guaranteed WIN or PUSH. BUT I WAS WRONG. Bet365 emailed me an hr or so later to notify me that they needed to change the odds of my OVER bet to 2.1 (down from 29, even though it was already CONFIRMED and in my betting history). They offered to cancel the bet as a result. I asked for them to cancel the bets on the game and they only cancelled the OVER bet. As a result i lost the entire UNDER bet and they refuse to void it and refund the UNDER even though they made the mistake. They did offer to instead give me $50 no restrictions to "fully solve" the issue. So they clearly accept some fault, but are just being unethical thieves. Are there any betting regulators that I can complain to?
I have pictures of the game history and several bet365 emails if you need proof. How on Earth could it be ethical or legal to change the fixed odds on a bet that has already been made, confirmed and is safe in my betting history?!?

3rd August 2013, 09:18 PM
Hi, unfortunately bookmakers do give themselves the right to cancel wagers in the event that they made a mistake with the odds. Looking at bet365 specifically,


1.3 bet365 reserves the right to cancel any bet/wager at any time.

If you asked them to cancel both bets and they only cancelled one, you may have a cause for complaint. In terms of who to complain to, bet365 are licensed by the Northern Territory Licensing Commission. This Commission is responsible for handling gambling disputes. On their website they state you can email gambling disputes to gamblingdisputes@nt.gov.au (http://racing.nt.gov.au/northern-territory-racing-commission/gambling-disputes).