As continually referred to on this site the settlement of all bets is governed by a company's terms and conditions (rules). The following is a case where a customer's intention was to place a bet on the BAFTA awards. However, the bookmaker was not offering this market and confusion arose when a price was regrettably applied which related to the forthcoming Oscars.
The established precedent in the betting industry is that when a bet is struck at an incorrect price the backer is not entitled to that price but instead the bet is settled at the correct odds on offer at the time of placement.
Strictly speaking as the company were not offering a market on the BAFTAs the bet would normally by industry convention be deemed void and a return of stake applied.
However, in this case the bookmaker, in the spirit of good customer practice, offered to settle the bet by applying the best industry odds available in the BAFTAs market.
The Panel consider this to be a fair settlement although the customer argued that settlement should be on the erroneous odds applied to the slip. However, the Panel disagreed and concluded that the bookmaker's offer is certainly more logical than using a theoretical price, thereby giving their customer a winning bet in line with his intentions.