FAIRLAY - SPORTS BETTING for experts - highest liquidity, provably best odds

[sbrzol]

I also have a (winner) bet from yesterday that is not graded.

[sbrzol]

I also have a (winner) bet from yesterday that is not graded.

I hope after the super bowl you will have enough btc to grade my bet (ended more than 28 hours ago) or perhaps we will never see our funds again

[sbrzol]

I also have a (winner) bet from yesterday that is not graded.

I hope after the super bowl you will have enough btc to grade my bet (ended more than 28 hours ago) or perhaps we will never see our funds again

Fairlay cancelled my bet.  

The so called "market maker" make an error (that is his fault, his responsibility) and the bet was cancelled.( so i lost my winnings while the error maker got back his stake)


My last issue with a real exchange was Betfair,  which is the biggest one

Betfair "offered" a market that had half time total points as full time, there was also a "market maker"/another bettor who noticed this and made a trap,  because my application had a bug i went into the trap an lost the bet.   I asked Betfair to cancel my bet but they refused it, said it would not be fair to the other user. (who made the trap .. )    (I will quote later this conversation. )


On an exchange users play against each other funds, the site is only a mediator.

If one user makes an error (for example: does not manage correctly the price changes, going live etc. ) then there is no possibility to revoke/cancel matched bets .  (on a real exchange)

But as you can see fairlay thinks they have the right to override the contract (matched bet) that was made between 2 users.  
(A real exchange like Betfair as you can see will never cancel matched bets)


I will share more on this issue, whether fairlay is a real exchange or not  

 

[sbrzol]

From fairlay:
"we like to inform you that our policy to void bets matched after the game went inplay will not be revisited.  As we state on every betting page we are settling according to Pinnacle.  We therefor cancel a bet if it was offered with a clearly incorrect line or if has been matched after the match started (see Pinnacle rules).  This policy is not only fair, it also enables everyone to hedge their fairlay positions on pinnacle without any settlement risks. "


So imagine pinnacle offers a wrong price :  1.23 -  5.1 ,   but the correct price is  5.1 - 1.23  , pinnacle makes this error and the so called market maker copies this error

Later pinnacle void all those bets that was placed on this match with the incorrect price, so does fairlay and market maker gets back  his funds

I am only a simple user, so imagine if the market is empty (no prices at that moment)  because a lot of bets was placed on valid prices (5.1 - 1.23)  
I am as a simple user can offer whatever price because this is an exchange (or not? ) , so suppose i misspell the prices and unfortunately swap them and i offer   1.23 - 5.1

So what will happen in this case?    
Will fairlay cancel my matched bets?   or only the insider market makers  (who are not exists)  has such cancelling rights

The other bettor wont know that it is offered by the so called market maker or a simple user, so he cant be sure that his bet wont be cancelled.

On real exchanges all users are equal.


I think fairlay is not an exchange, they redirect all of their bets to pinnacle sports , so they can call the settled fixtures pinnacle api method on every bet to determine how to settle them
(This is the real reason why it took more than 30 hours to settle my bet)

[sbrzol]

lol,  nobody gives a shit on this issue so on the site itself too


i asked you half a year ago to put simple button next to the search box but you do not listen to your users, you do nothing , your API does not work , the site development is stopped, so i hope you will suck it and go bankrupt

[acegilz]

There are alternative, you should try betbtc. Same concept but optimised execution, no bugs like these, api works, traffic increasing. check review: http://www.bitedge.co/bitcoin-sportsbook-reviews/betbtc-review/

[FairlaySupport]

@acegilz   There was no bug. We just voided a bet, that was matched after the game already started - as we did many times before. This is quite common in the industry - not with Betfair, but with many other exchanges.  Nothing really happened here.

[acegilz]

@acegilz   There was no bug. We just voided a bet, that was matched after the game already started - as we did many times before. This is quite common in the industry - not with Betfair, but with many other exchanges.  Nothing really happened here.

i know that but you claim yourself a betting exchange like betfair. what right do you have to void a transaction on a market? You are not a sportsbook. when users see a matched bet on your platform they are not expecting it to be voided for no reason.

if you are matching user's bets yourself like a sportsbook according to other's rules (pinacle), you should stop presenting yourself like a betting exchange

[bitwager]

Canceling a bet that was placed after the game started seems like a reasonable thing to do.  To me, the BIG question is, would that bet have been canceled had it been a loser and not a winner?

[FairlaySupport]

@acegilz   There was no bug. We just voided a bet, that was matched after the game already started - as we did many times before. This is quite common in the industry - not with Betfair, but with many other exchanges.  Nothing really happened here.

i know that but you claim yourself a betting exchange like betfair. what right do you have to void a transaction on a market? You are not a sportsbook. when users see a matched bet on your platform they are not expecting it to be voided for no reason.

if you are matching user's bets yourself like a sportsbook according to other's rules (pinacle), you should stop presenting yourself like a betting exchange

First of all, Betfair is not the platform we want to be guided by.  They are disgraceful, greedy and a shame for the whole industry.  They hardly ever void bets in case of manipulation, betting fraud, human error or wrong information given on their site.   Other exchanges do that as there are well established reasons to do so.
Whenever we make a mistake by providing a false closing time we will void all bets placed when the match was inplay regardless who would have won.   We already voided plenty of bets where our market makers would have won. @bitwager


To put things into perspective: bet voiding happens in around  0.01% of all cases.  In most of the cases the users are well aware that the match already started.

Also note, that we already have some live markets. These are marked as "INPLAY".  We will roll this out further in the future.

[bitwager]

Thanks for the explanation, fairlay.

For the record, I definitely wasn't accusing you of dishonest practices.  I was just saying that a case of a losing bet that is canceled due to being past the closing time is much more illustrative of a fair policy than a winning bet that is canceled.  I haven't had a single wager canceled myself.

Similarly, after some time using a book a user will somewhat frequently encounter its "odds have changed" notice when trying to place wagers.  It pretty quickly becomes apparent if a book is only showing that notice when the odds move in the user's favor.  I suppose it's arguable that it is not dishonest for a book to do that, but that is blatantly unfair in my mind.  Bitbook, which in its heyday was a top BTC book, did this and did not respond when it was pointed out publicly.

[jdh1969]

Payout report - I have withdrawn 3 times at Fairlay for about 2 BTC total...in every case, the withdrawal was processed and in my wallet in 10 minutes. Outstanding site, interface takes a little getting used to, but their odds are really really good and they pay as promised. I can't figure out why more people don't play here, it's easily my favorite BTC book of them all. Keep up the good work Fairlay.

[patt0]

Hello I don't understand a few things.

First how do I know that I have enough liquidity for my bet?
I see a number bellow the odds, which I believe to be the mBTC available for that bet. So if that is true, every time I place a bet bellow that value, that means I should get a full match of my bet right?

Second lets say we have the game A vs B

On bet for A is @3
Against bet for A is @3.3

Lets say I make a bet "Against" @3.3 and it's not fully matched, if someone else goes to that market and makes an "On" bet @3 they will be given my odds right, and I will get my bet matched, since I'm offering better odds. Or the "On" bet @3 will get matched and mine will stay unmatched?

I'm asking because I have an unmatched bet "Against" @3.4, and it's not fully matched and I see a offer of an "On" bet @3.06, and it makes now sense to see that bet getting matched before mine, for those that want to make an "On" bet since I'm offering better odds.

Hope I made my example clear enough.

[fairlay]

Hello I don't understand a few things.

First how do I know that I have enough liquidity for my bet?
I see a number bellow the odds, which I believe to be the mBTC available for that bet. So if that is true, every time I place a bet bellow that value, that means I should get a full match of my bet right?

There is a very small change that things change while you are betting but in 99.5% of your bets this should be true.

You second question is a little bit complicated and we must admit that our site is a little bit confusing here. The short answer is: it is how you would expect it to be: if you offer 3.3 odds than someone who want's to make a bet bet will first get your 3.3.

The long answer: There are two ways to display the odds for "lay" or "against" bets. The first is the odds YOU get. And the other option is the odds the back better gets. In the first version of Fairlay we only offered a view with the odds YOU get because we thought that would be more relevant and intuitive to the user. So if the back better gets 3.3 that means that they bet 1 unit to win 3.3. Four you this means that you need to bet 2.3 units to win 3.3. Thus your odds are 1.434... (= 3.3/2.3). However - since most other big betting exchanges (betfair, matchbook, ...) most user where used to a different model where you would see the odds you give (and not you get). So we tried to make a compromise: in the overview you can see the bets like in a betting exchange like betfair. As soon as you click on it it will convert it to the odds YOU get.

So I assume the 3.3 you where talking about are the odds you got? If you would got the 1.434 (and the full amount was not matched) than indeed the best open offer for back should be 3.3. (If this is not the case please send us the link to the bet or event).

We know that this compromise is not the best solution but once you are used to it, it should work well. However - if you have ideas how we can improve our interface we are very open to it!

[fairlay]

Payout report - I have withdrawn 3 times at Fairlay for about 2 BTC total...in every case, the withdrawal was processed and in my wallet in 10 minutes. Outstanding site, interface takes a little getting used to, but their odds are really really good and they pay as promised. I can't figure out why more people don't play here, it's easily my favorite BTC book of them all. Keep up the good work Fairlay.

Welcome to Fairlay and thanks for your comment! Usually people only write here if something does not work
By the way - we have a referral program - you earn on every bet a referral makes: https://www.fairlay.com/user/referrals/ Check it out.

[patt0]

Hello I don't understand a few things.

First how do I know that I have enough liquidity for my bet?
I see a number bellow the odds, which I believe to be the mBTC available for that bet. So if that is true, every time I place a bet bellow that value, that means I should get a full match of my bet right?

There is a very small change that things change while you are betting but in 99.5% of your bets this should be true.

You second question is a little bit complicated and we must admit that our site is a little bit confusing here. The short answer is: it is how you would expect it to be: if you offer 3.3 odds than someone who want's to make a bet bet will first get your 3.3.

The long answer: There are two ways to display the odds for "lay" or "against" bets. The first is the odds YOU get. And the other option is the odds the back better gets. In the first version of Fairlay we only offered a view with the odds YOU get because we thought that would be more relevant and intuitive to the user. So if the back better gets 3.3 that means that they bet 1 unit to win 3.3. Four you this means that you need to bet 2.3 units to win 3.3. Thus your odds are 1.434... (= 3.3/2.3). However - since most other big betting exchanges (betfair, matchbook, ...) most user where used to a different model where you would see the odds you give (and not you get). So we tried to make a compromise: in the overview you can see the bets like in a betting exchange like betfair. As soon as you click on it it will convert it to the odds YOU get.

So I assume the 3.3 you where talking about are the odds you got? If you would got the 1.434 (and the full amount was not matched) than indeed the best open offer for back should be 3.3. (If this is not the case please send us the link to the bet or event).

We know that this compromise is not the best solution but once you are used to it, it should work well. However - if you have ideas how we can improve our interface we are very open to it!

Just sent you a pm with the links.
Like I said there, I don't understand why my bet is not fully matched yet, since the lay option available now, is much better for me than the one I got, meaning I'm offering better odds, and they are not showed.

As for you question, yes I was talking about the odds I gave. The 3.3 or 3.4, I don't quite remember were the odds I gave. The odds I got as you can see in the link I sent by pm were 1.392.

[fairlay]

Interesting. You are right - this looks very much like a bug. I need to dig deeper into it. You should't have a disadvantage by this - so if you win the bet I promise to pay out the amount as if everything was matched. If you lose (and our matching algorithm still not has matched the full bet) then this will be sent back to you.

Thanks for reporting this.

[patt0]

Interesting. You are right - this looks very much like a bug. I need to dig deeper into it. You should't have a disadvantage by this - so if you win the bet I promise to pay out the amount as if everything was matched. If you lose (and our matching algorithm still not has matched the full bet) then this will be sent back to you.

Thanks for reporting this.

No problem, and thanks for the solution you offered!

[fairlay]

Ok, it turns out that it was a known problem that we haven't fixed yet because it occurs only very rarely. It only affects anonymous bets that are partially matched when they hit our matching algorithm. There is indeed the problem that the remaining part will not create a open order (as it should). If the full amount would create a open order - that would work. So please ping us if you win the bet - then I will send you the additional amount manually. For the future we recommend using an account, or just place bets that will be accepted fully, or - if this case occurs again - you can know that the not matched part will be send back for sure and will not get matched later no matter how the odds will move.

Only less than 1% of all bets on Fairlay are done without account and only a fraction of them get partially matched so - it is still on our todo list but we will do a lot of other stuff first.

[deadley]

Why there is no cricket match betting option.