In the world of betting, void bet typically reduces profit and potentially leaving you with less money compared to your supposed winnings.
If the bet is successful, the punter will receive their reward. Conversely, if the bet fails, it is the bookmaker who benefits by keeping the wagered amount.
Ultimately, either the punter or bookmaker gains at the conclusion of a bet.
The only exception is when a bet is voided, as the name implies, a void bet is one that a bookmaker has deemed null and void.
When this happens, both the bettor and bookmaker end up without gaining or losing any money.
Although receiving what is essentially a refund from your bet doesn’t seem like a big issue, it can be frustrating if it’s unexpected.
The last thing you want is to believe you’ve secured a nice win only to find out that the bet has been marked as void.
To prevent any unforeseen disappointments, we will explore all aspects of void bets, including the reasons they happen. With this information, you’ll be better informed when making your wagers.
What is a Void Bet?
While we’ve previously mentioned what a void bet is, it’s beneficial to delve into further detail.
Firstly, while void bets make up only a small percentage of all wagers, they are more common than one might think.
Bookmakers may void bets for various reasons, so if you gamble regularly, you’re likely to encounter this situation eventually.
It’s important to emphasize that void bets are not unsuccessful or losing wagers.
Essentially, the bet is voided, resulting in the bettor receiving a full refund of their stake. It’s as if the wager was never made, even though it will still appear in your betting history.
Bettors cannot void bets themselves; therefore, it’s not comparable to a ‘cash out’ option. It is solely within bookmakers’ discretion to void bets when necessary.
What are the Reasons for Bookmakers Voiding Bets?
Typically, bookmakers follow a consistent method for voiding bets. If any of the following situations occur, you should fully anticipate them cancelling your wager.
Withdrawal of Players/Teams & Non-Participants
This isn’t too complicated. If you place a bet on a team or player who doesn’t participate in the scheduled event for any reason, the bookmaker will often void your bet.
This usually occurs if a player withdraws before the match begins due to injury or failure to meet certain requirements like weight limits.
The important point is that this withdrawal must happen before the match starts; if your selected player gets injured during play and retires, you’ll lose your bet.
Events Cancelled or Postponed
Despite all efforts to ensure that sporting events proceed as scheduled, there are times when this simply isn’t possible.
Weather conditions usually cause event cancellations, although a myriad of other unforeseen circumstances can also play a role.
In such cases, bets placed on these events will generally be voided. This is especially true if an event has been canceled without any indication of rescheduling or occurrence in the future.
Unfinished Games
Additionally, bookmakers often nullify bets if the match’s duration is shortened. This frequently occurs in cricket when adverse weather conditions lead to reduced overs.
Even though there might still be a declared winner under these circumstances, some bookmakers may cancel such bets due to the incomplete nature of play.
Technical and/or “Obvious” Errors
Sometimes, you might notice that a bookmaker has made an error with the odds they offer. Considering the vast number of markets for which they set prices, maintaining a perfect record is extremely challenging.
Bookmakers may void bets on mispriced markets, but can correct errors through their “palpable error” clause, including reversing selections, keeping markets open, or adding extra zeros.
Conclusion
Understanding void bets is useful because it can help you avoid potentially wasting a free bet voucher.
Free bets are a frequent promotional tool used by bookmakers, often featured in welcome offers for their customers.
While some people might reinstate it, you may need to contact customer service for assistance, this typically doesn’t apply when you choose a market like “draw no bet” and the game ends in a tie.
You should apply the same strategy to goalscorer bets in football and similar markets, like tryscorer wagers in rugby. Make sure to use your free bet only after the team news has been confirmed.
