They could have reduced a lot of the work (calculating the mean across 32 bookmakers and applying a constant for the margin) by just taking the price from a hig

They could have reduced a lot of the work (calculating the mean across 32 bookmakers and applying a constant for the margin) by just taking the price from a highly liquid exchange like betfair, which is pretty close to a 100% efficient de-marginated line. Although it still wouldn't have prevented their accounts from being limited.