How do you Deal with Stake Kidnapping / Cancelled Bets?

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Cash
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How do you Deal with Stake Kidnapping / Cancelled Bets?
« on: April 08, 2015, 06:54:46 AM »

Hello Everyone.  It seems to me that the biggest risk, other than being unaware of rule differentiations, is when bookies, for whatever reason, cancel your bet.  How do you deal with this possibility?  When you do an arb, do you constantly refresh your bet history to make sure the bet is still in play or what?  It would be great to have some damage control ideas.  Thank you very much.
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geetz
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Re: How do you Deal with Stake Kidnapping / Cancelled Bets?
« Reply #1 on: April 08, 2015, 11:55:38 AM »

Barely happens. Just try avoiding palps.
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Nameless
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Re: How do you Deal with Stake Kidnapping / Cancelled Bets?
« Reply #2 on: April 08, 2015, 02:49:52 PM »

this does happen from time to time. the best strategy I know is to cover the bet at another bookie to get out with a small loss, or you can just let it ride.
I'm not a gambler though, so I always look for the next best odds.
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Yngwie/Sawyer
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Re: How do you Deal with Stake Kidnapping / Cancelled Bets?
« Reply #3 on: April 08, 2015, 03:59:58 PM »

Risks like stake Kidnapping/Cancelled Bets/Account Suspend/Bookie goes bankrupt (Gobetgo) exist in nature of this job. You should embrace the loss and look over the long haul.
« Last Edit: April 08, 2015, 09:30:23 PM by Yngwie/Sawyer » Logged

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Cash
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Re: How do you Deal with Stake Kidnapping / Cancelled Bets?
« Reply #4 on: April 09, 2015, 06:13:58 AM »

Risks like stake Kidnapping/Cancelled Bets/Account Suspend/Bookie goes bankrupt (Gobetgo) exist in nature of this job. You should embrace the loss and look over the long haul.

Yes, one must do that.  But in order to see the big picture, I would have to get an idea of how often it happens.   Does it happen 1% of the time?  I'm hoping a lot less.
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Alfons
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Re: How do you Deal with Stake Kidnapping / Cancelled Bets?
« Reply #5 on: April 09, 2015, 12:35:05 PM »

Risks like stake Kidnapping/Cancelled Bets/Account Suspend/Bookie goes bankrupt (Gobetgo) exist in nature of this job. You should embrace the loss and look over the long haul.

Yes, one must do that.  But in order to see the big picture, I would have to get an idea of how often it happens.   Does it happen 1% of the time?  I'm hoping a lot less.

It depends a lot on how you bet. Avoid smaller bookies and even smaller leagues (books will not void a 1% arb on champions league for example), "to good to be true" arbs bigger than 5-7%, wrong home/away team. Be smart take care make money.
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swedplay
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Re: How do you Deal with Stake Kidnapping / Cancelled Bets?
« Reply #6 on: April 14, 2015, 02:39:52 AM »

Hello Everyone.  It seems to me that the biggest risk, other than being unaware of rule differentiations, is when bookies, for whatever reason, cancel your bet.  How do you deal with this possibility?  When you do an arb, do you constantly refresh your bet history to make sure the bet is still in play or what?  It would be great to have some damage control ideas.  Thank you very much.

It evens out in the long run. You see, half of the times the voided bet is on the losing side of the arb, and then you get the big win instead.  ;D
I have had many losing bets being refunded on bet365.

But its very rare, less than 1%. I'd say 0,2%
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Cash
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Re: How do you Deal with Stake Kidnapping / Cancelled Bets?
« Reply #7 on: April 30, 2015, 07:40:15 AM »



It evens out in the long run. You see, half of the times the voided bet is on the losing side of the arb, and then you get the big win instead.  ;D
I have had many losing bets being refunded on bet365.

But its very rare, less than 1%. I'd say 0,2%

Thanks for the exact estimate.  I won't hold you to it.  If anywhere close to half of cancelled bets lose, that would be great.  I always assume the worst to assess risk.  I would like to ask why bet365 refunds your bets so often?  Is it a certain type of bet or what? 
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