If you’re new to the world of betting, some of the language and terms might be super confusing for you. That’s the reason we want to write this comprehensive guide explaining one of the terms you might encounter soon enough.
Today’s question is: “What is an unsettled bet in bet365?“
After reading this article, you’ll know exactly what to do when facing an “Unsettled bet” in bet365. So, let’s dive right into it!
What does “Unsettled” mean in bet365?
An unsettled bet in bet365 means that the bet has not been settled or paid out. After a game is finished, the result will take time to reflect across the system, plus the time for security checks, which creates a delay. You need to wait until it becomes “settled”, that’s when your balance is changed.
Let’s say you are betting on a Hockey game still ongoing. You’re betting on the Toronto Maple Leafs vs. Montreal Canadiens game. The game is currently ongoing. So your bet is considered “unsettled” by Bet365 until the game ends and we have a clear winner.
When you place a bet, your Bet365 account is debited with the amount of the bet. If your bet wins, your Bet365 account is credited with the winnings. If your bet loses, the stake is forfeit. A bet is only settled once the result is known and Bet365 has declared the mark as “settled”.
What happens if a game is over and your Bet is still unsettled?
This can be up to a few hours after an event has taken place. In some cases, Bet365 may make an early payout on a bet if they feel that the result of the event is no longer in doubt. For example, if a team is led by a large margin late in a football match, Bet365 may declare the market as settled and pay out on bets placed on that team to win. However, this is at Bet365’s discretion and they are not obliged to do so.
There are also some cases where the game is completed with a clear winner but your bet is still displayed as “unsettled”. Don’t panic, as long as you don’t violate their policy, it’s completely normal that the result of the match may take a little longer to be processed. You just need to wait until the result is absolutely final.
Can Bet365 keep a bet as unsettled indefinitely?
Bet365 can’t keep a bet indefinitely. Bet365 often face this question from customers who want their bets settled immediately. The answer is no, unless you have done suspicious betting practices or software malfunction.
Should I be concerned if my bet is labeled “unsettled bet”?
When should you start worrying if the sporting event has ended and you are still waiting for your bet to settle?
There are rare cases where an event may have already occurred, yet your bet will still show as unsettled. The decision or outcome may be under review, so you’ll have to wait until it’s confirmed.
When will it be settled?
Even after the game ends and the official man of the match is named, your bet might still take time to settle. It may take some time for the settlement team to confirm the result with the real-world live result of the game.
Another example where bets can take longer to determine would be golf betting. If you have bet on a player to come in the top 6 and there are 2 players in joint position on the leaderboard, it is called a dead heart, and your winning amount will need to be adjusted. In addition, you may not receive the total payout, which can take a bit more time to settle.
The bottom line
Bet365 is a vast company trading globally and has earned a reputation as a safe and trustworthy site. If they stopped paying winning bets, there would be an uproar, and the company would receive hefty fines and bad publicity.
Simply said, it won’t happen and can’t. Bet365 annual revenue is in the billions. It would be counterproductive to engage in anti-customer tactics, and the UK Gambling Commission would monitor it very closely.
The UKGC and other licensing bodies are there to protect you, the player. They have stringent rules and regulations in place, and when you place a bet, you can do so safely, knowing if you win, your winnings will be paid out.
Suppose you feel your bet has taken longer than it should. In that case, you can contact the customer service team, who will advise why there is a delay and help process the payment speedily.