I've just been on the chat to try and confirm that when Trump is declared the next president, they will pay out. Initially I was told the market is settled correctly and that it won't be resettled. I argued a bit of common sense that if Trump is sworn in they are clearly cheating people as we didn't bet on the electorial college, but Trump would be the next president. They then replied this:
"I would suggest that you keep an eye out on this page:
The traders will update this in the coming days with updates regarding the market and what happens if Trump is actually going to win."
Fingers crossed this means they will pay out and their decision is not final. Anybody else got bets on curios about this? Have you found anything else out?
Cheers!
Ive got 5k riding on this with betfair.
There is a couple of good Fakebook groups setup by other Betfair Trump punters with the view to sue or put max pressure on them to pay up when GEOTUS is innaugarated.
Oz and NZ punters
UK and Euro group
Thank you, this is what I was looking for. Cheers dude
I waited until it was 40/1 and got my last bets in, no wonder they wont wanna pay out haha
All the sites say that they are settled by a certain time or action and reversing it is at their sole discretion, which is a nice way of saying they won't pay out if it is reversed.
Predictit told me that if they settled a market incorrectly there would be recourse. We shall see. Hoping Wisconsin can flip still as i needed him to win popular vote. Which i fucking know he did. But I'd be okay with the payout from just the presidential election. Who am I kidding no I wouldn't. I feel like I got robbed.
Someone posted a PredictIt question a few days ago. I asked him to post the terms and he wouldn't do it at first. When he finally did, it said that it was settled and can be reversed on their sole discretion.
Always. Read. The. Terms.
It can be contested even if they say no, but you agree to arbitration by accepting their terms. If a settlement can't be reached between yourself and predictit. There is recourse. I'm not worried. I think they'll make good on my bets. Luckily it's not a private company.
Maybe call your credit cart company if that's how you paid and request a chargeback.
Good Idea!
Ill wait until the 20th to ensure its resolved first.
class action their ASSES
Sportsbet in Australia paid-out win for Biden on 4 Nov 2020. But still took bets for Trump for weeks. They then cancelled all Trump bets as lost on 14 Dec 2020; we have started a class action against Sportsbet for cancelling bets before 6 Jan 2021.
Did you read the thing you posted? It clearly states you lost
I posted long ago that I wasn't willing to place this bet because it was not a bet for "Who will be inaugurated on Jan 20 2021?" You made a bet that was based on "projected Electoral College votres."
My bet was simply next US president, I didnt read the terms tbh at the time but the bet simply was "Next US president". Shiiiit man
It doesn't matter what the fine print says, market was called "next president" . They either pay or get sued for blatant deceptive conduct.
Also, fine print was contradictory as it mentions the 12th ammendment which can't come into play until Jan 6. We'll get our money, you watch.
No, your bet was defined by the terms and conditions next to that little checkbox you clicked without reading it. I went to a number of betting sites and went right to those terms and conditions. I realized quickly there was no place letting me bet on who the next president would be.
I just checked for other elections and there are 0 links to the terms of the bets. Simply who is next.
Probably because they're all closed so they don't need to show you the terms anymore. But of the 3 or so sites I checked when the bets were open, you had to agree to the terms, which I read and rejected.
The bottom line is that most likely the only chance you will have to collect is to file either an individual lawsuit or join a class action and claim that you were deceived as to what you were betting on.
I absolutely was deceived, I bet on the next president, not the "projected electorial college" and at no point was that shown to me. Thankfully I've found the class action group I can join when Trump is sworn in. Thanks pedes!
Well, you're going to claim it was never shown to you. They're gonna claim you had to agree to the terms and conditions to place the bet and it was your obligation to know what was in it.
BTW, your best bet, IMHO, is to argue that the "title" of the bet was written in such a way as to be intentionally deceitful as to what you were betting on.
I wish you the best of luck!
Polymarket.com, Trump is still 10-1
Thanks Pede I'll check it out. Do you know where it's located? I'm hesitant to bet using sites that I don't know anything about.
I get what your saying mate, but it is open for interpretation when the projected electors are decided, some could argue its not until.Jan 6 when the elector votes are accepted, also they mentioned the 12th amendment which doesn't make sense to then settle on 15th Dec before that had a chance to play out. and the fact they called it "next president"
that Oz FB group has 2000 members with a combined potential winning of over 100 million, all ready to join a class action, pretty sure it won't be hard finding a lawyer to take it on, thats if Betfair is stupid enpugh to fight it and destroy any reputation they had.
Sorry I thought you were replying to a different thread of mine.
It only matters what's in the terms and conditions, and what you can convince a judge or jury you thought you were agreeing to.
Those two things are what will be pitted against each other in a courtroom. OP posted that his terms and conditions mentioned "projected elector winners" probably as determined by the Jan 6 vote. If that's in the terms and conditions, then it only matters if he can convince a judge that he was deceived into thinking the bet was on who would become president.