[ QUOTE ]
At the WSOP last year, when down to three tables, Pinnacle had a line up:

Will Greg Raymer win the WSOP?

Yes +900
No + 3600

I unloaded on the +3600 side. If he DIDN'T win, I'd score large.

I was contacted about an hour later by phone, saying it was a bad line, and my bet was cancelled. I then received an email saying my bet was cancelled.

Then my account was closed.

I was told that if I had emailed them, pointing out the incorrect line, they 'may allow' me to bet on it, if I was the first to bring it to their attention.

hd

[/ QUOTE ]

Funny, I was the first to alert them to the bad line and I got this reply from the opposing bettor (via Mark at matchbook):

Mark –

Thank you for trying to fix this mess. Pretty brutal error. Looks like at a couple of guys so far are being cool about it, at least, which is great.

About the settlement offer of $1,000, does this guy understand he’s offering to “settle” at essentially 100 cents on the dollar? I’m just asking, because sometimes people get a little confused about how to calculate equity in situations like this. If someone wants to take a really hard line, fair enough… but offering to settle and then producing a figure like that seems like maybe there’s some confusion.

We’re willing to give up some ground here, but we’d like to see some compromise. Also, could we arrange to transfer some of our commission dollars to a client, as a soft-dollar means of settlement?

Feel free to pass along any of this note to the client in question.


All the best,

(xxxx)

To which I replied:

Hi Mark,

Thanks for the reply. I'm not certain why I'm perceived as not "being cool" about this. Though I'm not inclined to change my bet, I'm not sure why not changing is automatically labeled not being cool. I'm offering to take a number near $1,000 (I didn't say exactly $1,000 before) in a tradeable balance, as well as continuing to trade on the exchange for at least 3 weeks without withdrawals, during which time I could easily lose the entire amount. This is a win-win for the trader and the exchange. I am making compromises here, independently and indirectly as requested by the opposing trader.

Considering that I am willing to make concessions, it's unfortunate I'm being branded a jerk with a "hard line" or whatnot. I'm willing to listen to any reasonable offer, of which he hasn't made one and I already have.

Thanks,
Scott

And additionally:

Mark,

I wanted to add another point. Considering I brought the issue to Matchbook's attention in the first place and potentially saved this opposing client, or others, even greater losses on Indy +820, as opposed to putting even more of my own money on the wager, I am pretty surprised by this response. Perhaps he isn't aware of this.

Scott