Rounding error – Follow up

Further my recent post about the rounding error, Betfair have been in touch. In fact, they gave me a response before I could raise it with them! I got a very detailed explanation that explains clearly how the error occurred.

To cut a long explanation short, the rounding down occurred because the £2000 was matched against a number of other exchange users with differing amounts at differing prices. Given the underlying way the bets were matched, on an individual basis with other users, some profits are rounded up others rounded down. I could have just as easily ended up 1p. Betfair didn’t gain the 1p it was some other exchange user.

Betfair assure me that nothing has changed from their end since the original process was launched back in 2000 and this manifestation is just a quirk of the existing system and the way bets are matched and settled.

I’d like thank Betfair for providing such a quick and comprehensive answer.

Category: Using Bet Angel