A Little data can be a dangerous thing………..
As if we don’t lose our money fast enough as it is; now, even the Bookies are following the form, and getting it wrong!
PaddyPower – Betfair | A Great Way To Start A Marriage!
Whilst PaddyPower is a classic street facing Betting shop operator we all recognise and love to hate, in the respectful manner most punters have with their bookies. The BetFair operation is only fully familiar with the internet users and the spread bettors. Online market makers are the odds setters and market makers here, highly skilled and supported with mega amounts of meta data, they react to the flows and set the spreads on a minute by minute basis in the fast paced world on the online gaming scene.
You’ll need a computer for that
It is said, that to err is human; but for a real cock-up you need a computer – oh how true.
On October 18th 2016, the weight of money coming down on the side of Hillary Clinton was so large, PaddyPower – Betfair decided to ‘close the book’ on the betting. Thus the decision was taken to payout the punters who had wagered on a Clinton victory in the race for the 45th. Office of the President of the United States of America.
This resulted in the creation of a no loss proposition. That being, a punter, who’s wagered on Clinton and been paid out, can now wait, re-assess and act before the bets finally closed. Never something that would ever happen in a Horse race, but as they say ‘A week in politics is a long time’ and so it was. Gosh, I’d like to meet and shake the hands of every punter who got paid on Clinton, then bet on Trump in the final week!
Let’s hope the new boss of PaddyPower – Betfair Breon Corcoran is as liberal with his grace as he is with the companies cash – and doesn’t blame the number crunchers.