Can you cancel a bet?
Sports betting is a form of entertainment that continues to grow in popularity. However, there are certain rules that bettors need to be aware of before they begin. One is:
- How do sportsbooks view canceled bets?
- Can you cancel a bet?
This is a common question operators have to answer.
There are times when a bet is canceled, such as an abandoned match due to snowfall or a tennis player getting injured before a match and unable to play. But these are factors external to the user. This cancellation will depend on issues over which they have no control.
Causes of Cancellation
The causes can be diverse and varied. For example, in tennis, the abandonment of a player (which frequently happens at the lower levels) prevents the score from being established. This leads to a pure and simple cancellation of the ongoing bet.
Sportsbooks assume that, with abandonment, the game cannot be carried out and, therefore, they cannot determine an outcome. For this logical reason, the bet will be canceled. However, this is only the case in some situations.
Be Confident With Your Bets
When you place bets, you invest money under certain conditions and odds based on certain betting strategies. These odds are not fixed to an initial decision but rather vary according to the bets made. Therefore, the odds are in constant movement; they go up and down, making it difficult to offer a straightforward answer to the question: Can you cancel a bet?
For this reason, it is prohibited to withdraw the bets to avoid fraud in the value of the odds. Otherwise, it could inflate or deflate the bet’s value at the whim of whoever wants to manipulate it in their favor.
It must always be taken into account that the conditions and circumstances of a match or game may change over time. The bettor is prompted to withdraw his bet before the loss occurs. A very easy example to understand would be to think about the Kansas City Chiefs and find out that their best players will not be in the game.
This would mean the game does not have a strong probability of winning. Therefore, anyone who has deposited money thinking these factors would be possible should begin to think that the only thing that remains is for the rest of the squad to play correctly and achieve victory.
However, as long as there is enough time, if a player regrets confirming a bet, they can always contact the sports betting site to request its cancellation. However, it will only sometimes work since many operators won’t allow it. It all depends on the situation.
Whenever placing a bet, the bettor and the sportsbook assume that it will go ahead and the event will take place. Rarely does anyone think about a possible suspension or postponement of the match or the game.
Nor do we think that the bookmaker will cancel the bet, although it is true that it might do so because of an error in the odds. However, when developing betting strategies, chance also plays a very important role in our bets. In the same way that it can be decisive for the outcome of the bet. It can also be that chance intervenes in its resolution.
There are different scenarios where the bet is canceled, so it cannot be resolved for a winner or loser. This could be security, weather, disease, problems with the schedule, or others that cause a game to be postponed to another date or suspended.
Every bookmaker is different, and you should read the bookmaker’s terms and conditions and betting site rules. Although you must consider the bookmaker and the sport we have bet on, there are a number of variables to consider. For example, some bookmakers apply the “three-day rule.” They will keep open bets on postponed events if they take place in the next 72 hours.
If it cannot be completed within that period, it implies the cancellation of the bet, so the money is returned to the bettors. Technically, this will become a null bet. The user recovers the money wagered on an event that does not occur or that it is not known when it will occur or under what conditions (stadium, weather, the physical condition of the athletes, etc.).
Understanding Voided Bets
Voided bets are those that different bookmakers cancel for various reasons. In those cases, the money wagered is returned to the player, so the wagered amount is not lost. When the bet is canceled, the money invested returns to the player’s account automatically.
The reasons for canceling a bet can be many, and the sportsbooks have them established in the terms and conditions that bettors sign when they register in each of them. The normal thing is that the bets are canceled after some situation occurs that substantially changes the market conditions.
This isn’t a reference to favoritism passing from one team to another, as that reason is insufficient for a bet to be void. These are causes of force majeure, such as postponements or cancellations of matches, withdrawals, etc. Voided bets can occur in both single and parlay bets.
Canceled Bets: Simple Process and Automatic Refunds
The process is very simple when you place a single bet, and it is voided. When the bookmaker decides to cancel the bet, for whatever reason, it will appear on the player’s bet sheet as canceled. Immediately, the amount wagered is refunded to his account.
Parlay bets are different. When one of the picks in the parlay is voided because of a canceled match or other official reason, the rest of the parlay bet remains in effect. The selection that has been annulled is considered as odds of 1:1 when calculating the winnings.
In the case of a suspension of the competition without speculation about possible resumption dates, the bookmakers cancel the bets and return the amounts bet to the clients. It is the most practical option because waiting for the match to take place could lead to a long waiting time, and logically, the bettor would end up claiming his money.
For example, a bettor can decide to bet against an NBA team that he has for the day in which the injured game of his star player is scheduled to be played. But if the game is played the following month, with the athlete recovered, the bettor will likely reconsider the bet.
Errors in Odds
If you want to know if you can cancel a bet, beyond suspensions and postponements, the sportsbook, according to sports betting sites’ rules, could cancel the bet. Often, this is due to the operator’s own problems with the odds. Some bettors will try to slip in a bet to take advantage of the error, but the sportsbook protects itself.
The sportsbooks might cancel the bet or even recalculate the odds. This can be worse for the user since they do not find much value in the bet. That is why it is important, when we can, to indicate that we do not accept downward rate changes.
A Bet Is A Contract
All bets constitute a legally binding contract between the bettor and the sportsbook. Once a bet appears in the user’s account, the sportsbook assumes the contract is signed and valid. In cases of uncertainty regarding the acceptance of a bet, the user should check the current (pending) bets or contact the sportsbook’s customer service department for confirmation.
Except in cases of accepted error, in accordance with the contract, the bettor may not void a bet once it has been placed. This includes, among other reasons, even if the bet was placed by mistake.
You should always check with the bookmaker for refund terms during canceled games. These terms may vary depending on the type of sporting event. As for the deadlines, they vary from 24 to 72 hours, depending on the sports betting site you are on. You can find this information by requesting customer support or reading the rules and terms and conditions.
Reasons to cancel a bet FAQs
Under most circumstances, bettors cannot cancel a bet. However, there are situations, such as a change in a game’s players or location, when sportsbooks will allow modifications.
All sportsbooks operate under similar conditions regarding canceled or voided bets. However, it’s always best to check the sportsbook’s own terms and conditions for the most accurate data.
A sportsbook could void a bet if it determines that the bettor made an error in calculation or if the sportsbook made an error in the odds. There are also other circumstances, such as certain games beginning but needing to meet the minimum requirements to be considered a full game.
In a canceled single bet, the amount wagered is returned to the bettor. In a parlay, often, the cancellation of a single leg won’t cancel the entire bet, but only that leg. This will affect the overall odds, but most sportsbooks still won’t cancel the bet.
The minimum and maximum value of an accepted bet are defined according to the market and proposed bets, which change from one sport to the next.