TAB investigating quaddie cash out glitch

By: Monday 6 April 2020

The TAB is investing a glitch that offered some customers inflated cash-out dividends for quadrellas on meetings at Randwick and Doomben.

More than 1300 customers took up an offer to cash out their investments in the ACT, NSW and Victoria on Saturday.

The quadrella involves picking the winners of four races designated by TAB with punters given the opportunity to take a lower dividend by cashing out after finding earlier winners.

The glitch was quickly discovered on Saturday with TAB working with affected customers to reconcile their accounts.

Adam Hamilton, head of media communications at Tabcorp, said while there had been some inflated offers, not all were excessive.

"As soon as we became aware of the issue after some of the the cash-out offers were made available on Saturday, a big team went into action to try and assess the magnitude of it, work out the number of customers involved," Hamilton told RSN927.

"Contact will be made with every customer involved and because there wasn't a standard offer made we've got to treat each particular case on its merits.

"We're immensely frustrated by the technical fault that was behind this and sorting out the problem is our absolute top priority.

"We've had a team working around the clock to try and fix it and ensure that customers are entitled to receive a payment to get those funds as soon as possible."

Hamilton said dealing with the amount of customers affected was taking time to work through as was the amount of information.

He said there had been a number of customers who had cashed out on their quadrella investments which then went on to be successful.

"If there has been reconciliation with those customers already and they say they would have gone on to get the quaddie, then we certainly intend on honouring that quaddie dividend," Hamilton said.