Computer error forced Betfair to cancel all bets on the Christmas Hurdle at Leopardstown Racecourse.
Betfair has apologised to its customers after it voided approximately €25 million worth of winning bets placed on Voler La Vadette in the woodiesdiy.com Christmas Hurdle on December 28.
A technical fault led to gamblers backing Voler La Vadette at unusually high odds of 28-1. Upon realising the error, Betfair suspended the market before announcing that all bets would be voided.
A Betfair spokesperson said, “Voler La Vadette was available to back at 29 when the in-running market was suspended and a considerable sum was matched on the clear winner at that price.”
The statement continued, “The investigation has shown this was caused by a technical glitch, which allowed punters to exceed their betting limits. In accordance with our terms and conditions, all of the winning as well as placed bets were considered void.”
However, Betfair is now facing a backlash from angry players who placed winning bets, with some even threatening legal action. Betfair's share price has has also been negatively hit.