Classicbet - A Cautionary Tale

Classicbet A Cautionary Tale. Contract Law & The Importance Of Terms & Conditions.
This is a copy of the notification of formal complaint which was sent to Classicbet.com.au on the 29/04/2017.

1. You claim to payout on Supertab prices I.E. the Victorian TAB prices which all bookmakers use.

2. I would like to call this a lie and I can name numerous examples.


The first one recorded today 29/04/2017,

Casino Horse Racing Race 1.

The Wager:
The Return:
The Victorian TAB paid out at $1939.00 for the Exacta and so did Ladbrokes, Sportsbet and William Hill.

But when contacting John "Surname Withheld" to find out why he said there was no payout and I got paid $1362.73 which was the pool and I should have received $1939.00 x appropriately 9 times for my $400 outlay so i basically received $151.00 x times 9 for the result. 

The second one today.

Bulli Greyhounds Race 3.

The Wager:
The Return:
The Victorian TAB paid out at $163.10 of which I outlaid $500 on the bet for a times x 50 return which should have netted $8155.00

Instead I was paid out at $1172.88 which just a pay out figure of $23.45 for 50 times the Exacta.

These are just 2 examples out of many and basically you just pay out what you feel like paying and it is without penalty or as John "Surname Withheld" said on the 29th of April 2017 you need to check the terms of service on the website as we are protected from everything.

Needless to say on Tuesday the 2nd of May 2017 I will be making a written formal complaint to the appropriate racing authorities as well as contacting my local federal member of parliament. I have also arranged a meeting with the legal firm that represents my interests in my own website business and following through with action from there.


Thanks and best regards,

Michael Keenan
Horse Racing Tips Australia


In Fairness here is Classicbet's reply.

Hi Michael,

In accordance with ClassicBet rule 12; S which states

s) ClassicBet reserves the right to restrict the return on any tote derivative bet to the size of the tote pool.

As ClassicBet pays out exotic dividends at the Victorian TAB price, the pool for the exacta on the race in question was $1172.88. ClassicBet cannot pay out more than what is held in Victorian TAB pools for exotic bet options, as exotic tote bets placed with ClassicBet run concurrent with the Victorian TAB pools on those options.

Any bet payouts that exceed what is held in the Victorian TAB pools, are paid as the pool amount. That is why you received $1172.88 as your return.

Regards,

Classicbet.


In Final Summary:

Legally they can pay what they want and Classicbet's terms and conditions cover every aspect of this and basically there is nothing you can do. And I should add that Classicbet is fully entitled to do this and are doing nothing wrong as are any online bookmaker and it does not matter if they are the big guys like William Hill or Ladbrokes or one of the small guys. And this point of the legal weight of the terms and conditions covers all websites for that matter that are selling photo's to hiking equipment or any product at all or providing any service at all. Always read the terms and conditions of using a website before you join or pay for a product or service and this is absolutely essential to know exactly where you stand and what you will be given in return. The only way around this is if you find a breech in the law and then this is a job for government bodies to follow up and enforce or you could pay for it on your own, but this can be expensive and time consuming. Always remember when you press that join or buy button you are agreeing to a contract and the rules of that contract are set out in the terms and conditions.

Just as a side note: With the Classicbet website as of and up-to 05/05/2017 you cannot view Classicbet's terms and conditions until after you join as when you press the link on there website is takes you to a join page. So you are almost in a way forced to agreeing when you join to terms and conditions and a binding contract you have absolutely no idea of. This really is a matter for the ACCC to investigate so if you have an issue with Classicbet's terms and conditions your first port of call would be the ACCC and there direct website address is https://www.accc.gov.au/

So please beware of any bookmaker or any website at all before you join or buy and read there terms and conditions thoroughly to know exactly where both you and they stand and then everything should work out fine. And I will be honest I personally never read Classicbet's terms and conditions fully from beginning to end, only just partially after I joined so I did not know exactly where I stood or what I would be given in return. Now I have learned my lesson and will be forever more reading the terms and conditions before joining or buying from any website again and I also learned a lot about contract law this week which is a bonus I did not expect.

- This article is in no way meant to demean or defame Classicbet as they have plenty of good points, it is an article about a real life complaint & result, it provides the complaint, the reply and the final result and it is fair and balanced and it is a point of reference about the importance of always reading a websites terms and conditions before you join or buy. If you are happy with Classicbet's terms and conditions join them and if you are happy with any other online bookmaker and there terms and conditions join them. Just always be aware of where you and a product or service provider stand before using or purchasing there product and everything should be plain sailing.

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