Event Cancelled. What Happens To My Bets?
Reading Time: 7 mins
Due to Covid and bad weather, we have seen some events get cancelled with short notice.
Don’t panic! Help is for you! Whether it’s a single bet, or an acca this guide will show you what to do under these circumstances. 🦺 👍
It is crucial to not do anything until you know what the bookie and/or the exchange has done or plan to do.
This is important because reacting too soon or placing and cashing out bets may actually cause more harm.
So, the first thing to do is know your position and find out what the bookie or the exchange is doing due to the cancellation.
Is my bet a Single Bet? If so, is it a trigger bet or a free bet?
🅰️) Single-Trigger bet
If you have placed a single bet, this is nothing to worry about at all. If the race or match is cancelled, this will normally be void at both the booking and the exchange and funds returned. 👍
If the event is postponed and a new date is set, do make sure to check your bets and see.
If the bookie and exchange have kept them active for the new date and time. If either side has voided the bet, then you know you need to either cash the other side out or place a bet to cover it so that none of your cash or your free bets are exposed. The event will be re-scheduled and played within 24 to 48 hours. If so, the bookie and exchange may keep your bets open. So this is why it is best just to wait and see what the bookie and exchanges do. They will both very likely either keep them open or void them, so nothing to do here.
🅱️) Single-Free bet
If the bet you placed is a free bet and the event has been cancelled, this will generally get reissued by most bookies. Some bookies such as Betbull, Partypoker and sometimes Novibet won’t reissue them but the majority of bookies do. 🙂 If the bookie hasn’t reissued the free bet, you’re best off contacting their support to see if they will reissue it manually to your account.
💡If you’re worried, you can hold off placing your free bets and laying until nearer the event to avoid any problems with liability and/or cashing out at the exchange.
Is my bet an Acca? If so, is a trigger bet or a free bet?
🅰️) Acca-Trigger Bet
This is a tad more complex than a single.
If a leg is cancelled, the bookie and exchange could either decide to keep the acca open but without the cancelled leg or cancel the entire acca altogether.
The majority of the time, the bookie and exchange (ie Smarkets & Betfair) simply reduce the odds on both sides (taking away the cancelled leg). In this case, there is nothing you need to do and all should be in order. 👍
⚠️If you have layed on Matchbook, please do be careful as they tend to cancel the entire acca lay bet. In this instance, it would be wise to cash out your back bet if you can OR place a lay bet for the double etc that is active.
If your back bet at the bookie has been cancelled and you have layed on Matchbook, then they both should have been cancelled and no issues there. 👍
⚠️If your back bet has been cancelled and you layed on Smarkets or Betfair, then you will need to trade out the lay bet by placing a back bet at the exchange to cancel it out.
🅱️) Acca-Free bet
In the case of a free bet, the same applies as the trigger ie the bookie and exchange could either decide to keep the acca open but without the cancelled leg or cancel the entire acca altogether.
Like the trigger bet, the majority of the time, it is a case of reducing the odds on both sides. So make sure you check and make sure your free bet is still active and if the odds have been reduced to account for the cancelled leg. If you layed on Smarkets or Betfair, it should all be in order as they tend to reduce the odds too. 👍
⚠️If you have layed on Matchbook, you need to watch out as they will cancel the entire acca so in order to not miss out on the locked in profit of the free bet, do check this and see if you will need to place a new lay bet to cover the remaining active legs.
⚠️Bookies like Betbull tend to cancel the free bet if any legs of the free bet is cancelled. So do pay extra attention to these because if you layed on Smarkets or Betfair, you will need to trade out your lay bet at the exchange in order to leave your liability exposed.
We hope you found this information useful. If you have any questions, do post in the Facebook group. We are always happy to help and hopefully you won’t need this guide too much and the sport carries on! 🤞
Happy profiting folks! 😊