I have to admit that if I were ruling in this situation, assuming that I can verify the facts as stated, that I would allow the SB to take back his bet and reconsider his action. Personally, I would invoke the exception of Rule 1.
To be clear, I'm not saying that the floor's decision was wrong. At the end of the day, invoking the exception is at the particular TD's
discretion, and a lot will depend on how he interpreted what had gone down after receiving the accounts from the players and the dealer. i wasn't there, so I can't say. For example, if the TD said "the SB indicated that he thought that the dealer said 200, but everyone else heard 400, and the SB was confused because he was wearing headphones", well, that would be different. The fact that the button seems to have heard 400 while the SB didn't might suggest something like this happened.
Rule 42 seems directly on point in this regard, although there has been a lot of debate about this rule, and I personally do not like it much but there it is. Furthermore, in this case, Rule 34 says that chips that go into the pot in turn, must stay in the pot. So as a default position, strict application of these rules is understandable and justifiable.
But, based on the original facts as stated, I probably would have invoked my discretion as TD, and ruled that the SB may take back his bet (150) and reconsider his action for the following reasons:
1. Each player has the responsibility to protect all other players at the table and in the tournament at all times. If the dealer is about to make an error (e.g. reading the board incorrectly), players who notice the error should point it out. Similarly, if in fact the dealer had announced 200 and raised two fingers, it is clear that the dealer is clarifying for the table that the single 500 chip does not represent a call, and is confirming the size of the actual wager. In my view, the bettor also has an obligation to point out the dealer's error as soon as possible, and at least before substantial action has occurred thereafter. Therefore, the better must share some blame for not having corrected the dealer on at least two occasions - once when the dealer first said 200, and second when the SB asked for clarification of the bet.
2. I would tend to rely on Robert's Rules "gross misunderstanding" provisions in this particular case. In a different thread (
http://www.pokertda.com/forum/index.php?topic=547.0), I had indicated that I would rarely invoke this gross misunderstanding rule if the amount wagered is in clear view of the person considering a call, since in that case, the potential caller has the ability and responsibility to independently confirm the amount of wager by visual observation. However, on the facts of the current post, I would give the SB the benefit of the doubt, not because he should be entitled to rely on information from the dealer, but more so because the caller has no way of visually confirming the amount himself, and has taken reasonable steps to confirm the amount wagered. According to Robert's Rules, the decision-maker is allowed considerable discretion in these types of situations, and I would have exercised it here.