Sports betting is popular all around the world for its possibilities of winning fast and easy money. However, winning and losing are not the only chances bettors face when placing a Singapore sport bet. A void bet is also a common occurrence that happens to sports bettors.
What is a Void Bet?
A void bet happens when your sportsbook Singapore cancels your stakes in a match due to particular circumstances that make the bettor ineligible to win anything. Void bets happen for several reasons, but mostly due to unpredictable occurrences.
The pandemic, for example, has been a major cause of sports event cancellations and postponements recently. When the matches are confirmed and sportsbooks open the betting for the sports, yet the event does not push through, the stakes shall be refunded in full to the bettors. Other causes of postponed, abandoned or cancelled sports matches could be earthquakes, riots, and other unforeseen events.
Void Bets Due to Errors
Moreover, some bet voiding may also be due to errors. An example of this is a past post where due to error, bets are still placed even after the allowed betting period. It could be because incorrect start times were posted or the sportsbook forgot to close the betting line.
The Bellagio, a casino in Las Vegas, witnessed such a case in June 2020. Approximately 50 wagers were placed even after the start time, including a $250 10-leg parlay that paid $137,107.38. The Gaming Control Board of Nevada ruled the voiding of more than $200,000 worth of the post-past parleys from the incident. These errors can be very costly to the sportsbooks, which is why they often reserve the right to void bets with these mistakes.
Other Reasons to Sports Bet Voiding
Cancellation of a sports bet could also be because of match-fixing suspicions, posting of incorrect markets, and sportsbook violations. Learn more about why your sportsbook cancelled your bet with an infographic from 88ProAsia and 88Probet.