Responding to a letter from Niall O’Connor of bettingmarket.com published by the Racing Post, senior management at the betting exchange said they were acting in line with the betting industry as a whole in not returning money made on races later found to have been corrupt.
O’Connor said it was imperative that exchanges are not seen to benefit from such trades and suggests that they should consider returning the money they make on these bets to the punters who have lost out.
“Betfair believes this is an industry-wide issue and not a Betfair-specific one. It therefore offsets the money in question with charges from credit-card chargebacks, in line with all operators,” said Betfair in a statement.
Credit-card chargebacks are costs encountered through card fraud which are picked up by Betfair as opposed to passing them on to the customer or cancelling bets.
Calculators
