The Great Paddy Power Rip Off

Since the early 1980's I have loved the odd flutter on the horse racing. I don't really gamble heavy & from around 1995 to 2010 I only used to bet on the Grand National.   I liked the idea of on-line betting because of my current health conditions and when I saw Paddy Power offering Guaranteed Prices I signed up in 2011.  Other than keep forgetting my password I didn't have any problems with them, at least until now.

On Saturday 9th July I woke really early and after a cup of coffee I decided I'd have a look at the days racing.  I picked 3 horses I liked & placed a bet.  Then I saw 2 others running at Chester that I really liked and so placed another bet but with a higher stake unit.  On the first bet I only had 1 placed horse but the second, and most lucrative bet, came up. I went on to the Paddy Power website and noticed a few odd things.  It said my bet had benefited from their guaranteed prices, which it hadn't.  My first choice won at 7/1, which was it's price that I took earlier in the morning.  The second selection finished at 7/1, I had taken 15/2 (7.5/1) so there was no increase in the price. 

When I checked the returns at the prices I had taken I found that I had been underpaid by over £21.  I queried this and was told that both races were subject to rule 4 deductions but no where can I find any Rule 4 for either of these races.  The bet had been settled at SP so there was no Guaranteed Price Bonus.  On the first, losing bet, I had there is clearly a rule 4 on one of the races. As that horse lost this didn't affect the payout on the one placed horse.

I now see that guaranteed prices aren't really that good.  Firstly Paddy Power offer lower odds than most other betting sites and if you take SP you get the full price anyway.  There's no real benefit from Guaranteed prices If a horse is being heavily backed just take the best price you can get otherwise just leave it at SP. 

Another scam these betting shops use is a free bet if your horse is second to the SP favourite. If your horse is second to anything else you get nothing. If you do get your winning stake back as a free bet, any winnings from that will exclude the free bet stake.  So if you had a £10 free bet and you put it on a 2/1 winner, instead of £30 return you only get £20.

In conclusion it seems that if you have a decent win Paddy Power can pay out whatever they like and then claim the bet is subject to rule 4.  Try as I might I can't get the figures showing on the account to add up. Even if they paid out at SP the figures wouldn't show as they do & you can't get a run down of how they calculated the bet.