In the world of sports betting, the final whistle, the crossing of the finish line, or the final punch usually signifies the end of the game, and consequently, the settling of bets. But what happens when the results change after bets have been settled? This scenario, albeit rare, can occur due to various reasons such as disqualifications, doping scandals, or other unforeseen circumstances. This article delves into the implications of such changes on settled bets and how different sports and betting companies handle this situation.
A General Overview of Post-Settlement Results Change
Typically, in most sporting events, the results are definitive at the end of the game. The home team may win, the away team may triumph, or the match may end in a draw. In such cases, the settled bets are paid out as expected. However, there can be instances where the official results change after the fact due to reasons like a player testing positive for an illegal substance or a team getting disqualified.
The question that arises then is, what happens to the bets that have already been settled?
Post-Payout Scenario: Can You Keep Your Winnings?
If your bet has already been paid out, the good news is that in most cases, you get to keep your winnings. Bookmakers typically base their payouts on the official results announced at the end of the game. Therefore, if your bet was paid out in error and the error was glaringly obvious, the bookmaker might reclaim the money. This concept is known as a 'palpable error' in the betting world.
However, if the official result changes after the bet has been settled, bookmakers usually do not ask for the payout to be returned. This is because bookmakers always payout based on the official result of any given event. So, if your bet ended up being a loser due to a change in the official results, you would still be able to keep your payout.
When Your Losing Bet Turns into a Winner
There can be situations where a change in the official result converts a bet you lost into a winning one. A classic example of this is when you bet on the outcome of a Formula One race, and the winner gets disqualified later. In such cases, if your wager was already paid out, you can consider that money yours.
However, if you bet on a driver that finished fourth and ends up finishing third due to the winner's disqualification, things become more complicated. This is because bookmakers consider the official result at the time it was initially reported. Even if this changes later, it doesn't affect the bookies' payouts.
Horse Racing: A Unique Case
Horse racing follows the First Past The Post (FPTP) rules. This means that bets are paid out based on the order the horses cross the finish line, not the official result given after the weigh-in. Therefore, the official result on the track could be different from the one announced on television, radio, or the track tannoy.
Interestingly, in horse racing, most bookies are generous enough to pay out on the official winner, even if it differs from the First Past The Post winner. This means that a winning bet that later becomes a losing one due to interference will still be paid as a winning one by most bookies.
Contacting Your Bookmaker: Is It Worth It?
One might wonder if it's worth contacting the bookmaker when the official result changes, and your losing bet suddenly becomes a winner. The truth is, it's always worth a try, but don't get your hopes up. Bookmakers might choose to give some punters winnings in the form of free bet tokens, but they generally don't pay out cash when they don't have to.
The success of your plea might also depend on when you contact the bookmaker. For instance, asking for a payout on a result that changed years ago would be futile. However, if you reach out soon after the official result changes, you might be able to get some form of compensation.
Searching for Fair Bookies
If you're looking for bookies with fair terms, consider bet365 or Paddy Power. Bet365 often offers payouts on official results and amended results. On the other hand, Paddy Power frequently offers 'justice refunds' or 'justice payouts' that pay bets they deem to have been unfairly settled.
Dealing with Changing Odds
Odds changes are a normal part of the betting industry. They can change frequently leading up to an event due to various factors such as changes in conditions or the amount of money placed on a betting market. If the odds change just before you're about to place a bet, you have the option to accept the change in odds before you place the bet.
What If Odds Change After A Bet?
When the odds change on a betting market that you've wagered funds on, there isn't anything you need to do. If there are odds displayed on that market in the 'My Bets' section on the betting site, then you'll be paid out accordingly if the bet is settled as a winner.
FAQs On Changing Odds
Yes, the odds can change after a bet has been made. But the odds you placed your bet on will stay the same. In horse racing, some sites use 'best odds guaranteed', so punters don't miss out on big changes.
In conclusion, while changes in betting results after settling can be confusing and frustrating, understanding how bookmakers handle such situations can help you navigate these waters with ease. Always remember to bet responsibly and with funds that you can afford to lose.