It's likely what you've seen was merely an authorisation for the payment, meaning it's been approved by the bank, but perhaps shows as 'pending' or 'held' because the merchant — in this case, the payment processor on behalf of the event organiser — hasn't claimed the funds. So the bank deducts that money from the account for the merchant to claim, and if not claimed (which it won't be, as it's either immediate or not at all), the funds are released back to you, usually in a day or two. Please also note that such charges could comprise additional single unit charges of your payment currency e.g. one Dollar, one Pound, one Euro etc — these too will ultimately be returned to you.
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