Australian Sports betting operator Sportsbet have been ordered to pay millions to bettors who had their wagers unfairly cancelled.
Last Thursday, the Northern Territory Racing Commission (NTRC) ruled on a dispute between Sportsbet and a number of punters who placed wagers on when any Australian Football League player would have 40 or more disposals during round 10 of the 2019 AFL season.
Sportsbets offer was accepted by a number of punters who took the no side of the wager. Sportsbet also went on to cancel the wagers before the first game of round 10 and cited that they had a right to revoke wagers based on manifest errors.
After nine legs of round 10 meant that no player could top 40 disposals, punters howled with outrage about their lost payday. Wagers on the markets could reportedly have been paid out to an average of AU$1.75 and also filed a complaint with the NTRC.
On Thursday, NTRC’s ruling stated that
“it would not be outrageous to see the prices offered in error on offer,” therefore it was the NTRC’s view that each of the individual pricing errors “do not meet its threshold requirement to uphold a finding of obvious error.”