Could someone help me?

[Larry]

I dont know what happened but i lost about 200e this afternoon.
I have an account with about 200e
I backed a horse and then i traded live and won net 22e. I was unaware of the fact that Betfair charged me -150e.
Then i go to the next race with 50e account and i place a bet of 100(how could this happen?)
I try to trade but comes a message "exposure" and an account of -53(????).

Can someone help me?

I do not know with whom i should talk about it...

[The Joker]

Best check your bf account carefully! And then contact them!

[jimrobo]

I would call up betfairs helpdesk and talk to them about it

[1/4 of a millionaire fund]

I dont know what happened but i lost about 200e this afternoon.
I have an account with about 200e
I backed a horse and then i traded live and won net 22e. I was unaware of the fact that Betfair charged me -150e.
Then i go to the next race with 50e account and i place a bet of 100(how could this happen?)
I try to trade but comes a message "exposure" and an account of -53(????).

Can someone help me?

I do not know with whom i should talk about it...

What race was it? Been a few late non runners that may have screwed you over due to the reduction factors

[Larry]

It was the Newb at 15:10...

All horses green and they charged me 150e...

[jimrobo]

that could have been the one the favourite didn't go. Do you know what bets you thought you placed?

[Boo]

The 5/2 favourite was withdrawn and the R4 was 25p in the £

[Leonthefixer]

Did you back it pre race and get out inrunning?

I suspect this is the issue and as such the Reduction Factor only applies to the pre race bet.

[Larry]

that could have been the one the favourite didn't go. Do you know what bets you thought you placed?

Of course.
I backed before the race at 6,60 X 100e and layed at 5,4 X 122,22 ,that is 22e net.

They say I backed at 4,8 X 100 and traded out at 5,4 X 122.

I said it is crazy to trade out with a greater loss.They said they will call me...

Still mad...

[Larry]

Did you back it pre race and get out inrunning?

I suspect this is the issue and as such the Reduction Factor only applies to the pre race bet.

Can you explain me what the reduction factor is?

I trade a lot at races and never happened before...

[Leonthefixer]

Of course.
I backed before the race at 6,60 X 100e and layed at 5,4 X 122,22 ,that is 22e net.

They say I backed at 4,8 X 100 and traded out at 5,4 X 122.

I said it is crazy to trade out with a greater loss.They said they will call me...

Still mad...

They are correct mate - unfortunately you didn't take account of the Reduction Factor and closed out inrunning at 5.4. Because it was inrunning no reduction factor applies to that bet. The reduction factor only applies to your pre race bet at 6.6 which therefore became 4.8.

Take it as a lesson and learn from it and don't let it happen again - beaware of non runners and how the reduction factor is applied.

Tough to do but take it on the chin.

[Larry]

They are correct mate - unfortunately you didn't take account of the Reduction Factor and closed out inrunning at 5.4. Because it was inrunning no reduction factor applies to that bet. The reduction factor only applies to your pre race bet at 6.6 which therefore became 4.8.

Take it as a lesson and learn from it and don't let it happen again - beaware of non runners and how the reduction factor is applied.

Tough to do but take it on the chin.

Thanks for the answer.But I think there were no non-runners,or am i wrong?

[Boo]

There were 3 nonners Larry http://www.racingpost.com/horses/res...8-13&popup=yes

[Leonthefixer]

Yes there was - have a read of this thread as someone already told you about the withdrawal or use a results service.

To understand the RF a bit better read this topic:

http://www.geekstoy.com/forum/showthread.php?t=2001&highlight=reduction+factor

But I would recommend you read in full the Betfair help sections on the Reduction Factors and how it works before committing anymore money to the markets.

It is essential to spend time reading all the rules and understanding how they impact the market you are trading before committing any reasonable stakes as as you have seen it can be expensive when you don't.

Hope it doesn't take you long to get the loss back!

[Cran]

you shouldn't be opening trades pre race and closing them in running if you don't know the rules...

Just put it down as training expenses

Could have been worse... I read a report of someone losing £40,000 from a £200 bank laying the field to a 101% book lots of times.