{"id":94976,"date":"2018-12-18T09:03:34","date_gmt":"2018-12-18T17:03:34","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=94976"},"modified":"2018-12-18T09:03:34","modified_gmt":"2018-12-18T17:03:34","slug":"ladbrokes-agrees-to-pay-out-on-phantom-bets-caused-by-software-glitch","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/ladbrokes-agrees-to-pay-out-on-phantom-bets-caused-by-software-glitch\/","title":{"rendered":"Ladbrokes Agrees to Pay Out on Phantom Bets Caused by Software Glitch"},"content":{"rendered":"

Betting giant Ladbrokes<\/a> on Monday said it will pay out on a glut of \u201cghost bets\u201d customers believed had been placed but which had in fact been swallowed by a technical glitch.<\/p>\n

\"Ladbrokes\"
Ladbrokes acknowledged for the first time this week that a fault in its system may have created an undisclosed number of bets that weren\u2019t bets. Meanwhile, in a separate matter, the operator has been accused of paying \u00a31 million to avoid a confrontation with the regulator. (Image: Ladbrokes)<\/figcaption><\/figure>\n

The UK\u2019s Guardian<\/em> newspaper discovered in November that three almost identical cases were being examined by the Independent Betting Adjudication Service (IBAS). In all three, customers claimed to have placed bets and won, only to discover later that their bets had been \u201ccancelled\u201d by Ladbrokes\u2019 system.<\/p>\n

The Guardian<\/em> later learned that four separate customers had reached out-of-court settlements with Ladbrokes after they sued the company on similar grounds.<\/p>\n

Tightlipped on Numbers<\/strong><\/h2>\n

On Monday, Ladbrokes admitted for the first time publicly the existence of the glitch, but declined to say how many customers had been affected.<\/p>\n

Following a thorough and forensic technical investigation we have identified an issue in the Ladbrokes automated bet referral process whereby, given a very specific and rare set of circumstances, a very small number of customers over a period of time may have been led to believe that their bets had been accepted when in fact they had not been placed and no stakes taken,\u201d the company told The Guardian.<\/em><\/p><\/blockquote>\n

\u201cFor clarity, no funds were ever deducted from a customer\u2019s account in respect of such proposed bets and this issue impacted both winning and losing bets,\u201d it added.<\/p>\n

Hush Money Allegations<\/strong><\/h2>\n

Meanwhile, shares in Ladbrokes fell on news — also published Monday in the same newspaper — that the bookmaker was under investigation by the UK Gambling Commission for allegedly paying almost \u00a31 million ($1.26 million) to the victims of an unnamed thief who blew stolen money at its bookmaking shops.<\/p>\n

The settlement was made under the condition that the victims agreed not to report the incident to the regulator.<\/p>\n

Unfortunately for Ladbrokes, the thief — a reformed problem gambler from the UK who owned a property business in Dubai from which he embezzled wealthy clients\u2019 money — has made it his mission to expose bad practices within the UK betting industry as part of his rehabilitation therapy.<\/p>\n

Lawsuits Pending<\/strong><\/h2>\n

The man is also cooperating with lawyers who are understood to be preparing lawsuits against William Hill and Paddy Power<\/a> on behalf of more victims. They are seeking around \u00a3600,000 ($760,000) from William Hill and \u00a3965,000 ($1.2 million) from Paddy Power.<\/p>\n

The faint wobble in Ladbrokes\u2019 share prices on Monday was a likely reaction to the fact that the UKGC has tightened its penalties over the past two years, regularly issuing multimillion-pound fines for serious compliance violations.<\/p>\n

“We are inquiring into this matter to ascertain the full circumstances. Our rules clearly set out that gambling businesses should work with us in an open and cooperative way,\u201d the regulator told The Guardian.<\/em><\/p>\n

“This includes disclosing to us anything which we would reasonably be expected to know. If we find that a gambling business is not doing this then we will consider what action is necessary.”<\/p>\n","protected":false},"excerpt":{"rendered":"

Betting giant Ladbrokes on Monday said it will pay out on a glut of \u201cghost bets\u201d customers believed had been placed but which had in fact been swallowed by a technical glitch. The UK\u2019s Guardian newspaper discovered in November that three almost identical cases were being examined by the Independent Betting Adjudication Service (IBAS). In […]<\/p>\n","protected":false},"author":36,"featured_media":94978,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,21,60,13592,1074],"tags":[],"acf":[],"yoast_head":"\nLadbrokes Agrees to Pay Out on Phantom Bets Caused by Software Glitch<\/title>\n<meta name=\"description\" content=\"Ladbrokes will pay customers whose winning bets were \u201ccancelled\u201d by a software glitch in its systems. Meanwhile, a payment to the victims of a thief who blew money in the company\u2019s shops is likely to land it in hot water.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ladbrokes Agrees to Pay Out on Phantom Bets Caused by Software Glitch\" \/>\n<meta property=\"og:description\" content=\"Ladbrokes will pay customers whose winning bets were \u201ccancelled\u201d by a software glitch in its systems. 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