Funds passing at Betfair

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Manos35
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Manos35

Funds passing at Betfair
« on: January 07, 2019, 06:12:16 PM »

Hello to everyone..

Can someone please explain how "fund passing" work at exchange and how a player can make profit out of it?
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apoel81
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apoel81

Re: Funds passing at Betfair
« Reply #1 on: January 07, 2019, 06:39:15 PM »

Fund passing is when you find a dead market and you simply put wrong odds (lets say 1.01 for the outsider) and you lay it from your 2nd account.

Beware that most probably you will get caught and bets will be void in the best case scenario.
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Manos35
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Manos35

Re: Funds passing at Betfair
« Reply #2 on: January 07, 2019, 07:35:29 PM »

Thanks for the reply  apoel

Yes i know the way..!! I dont understand where is my profit ? Because if a make a dead market to 1.03 for example  must place the same amount from the other side..!! It is that correct??
Can you explain please?
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dealer wins
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dealer wins

Re: Funds passing at Betfair
« Reply #3 on: January 07, 2019, 09:05:24 PM »

No one makes a profit out of funds passing (except Betfair on commission and when they freeze the funds and seize them lol)

Its just a way of transferring money from one account to another without involving ewallets etc, usually when doing something shady
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apoel81
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apoel81

Re: Funds passing at Betfair
« Reply #4 on: January 07, 2019, 09:41:50 PM »

No one makes a profit out of funds passing (except Betfair on commission and when they freeze the funds and seize them lol)

Its just a way of transferring money from one account to another without involving ewallets etc, usually when doing something shady

In my country it was used for scamming agents as well.

10 years ago, Betfair was providing master agents account whereas the middle agent could open up to 100 sub accounts. The agent could decide to have master account on USD/HKD/CAD etc. So when a customer deposited 1000 euros, you were given an account with 1000HKD. When you lost, you lost 1000HKD but the agent was taken 1000 euros from you etc.

So, they were trying to transfer funds from one account HKD account to another real HKD account. One bettor was loosing 1000HKD (equals to 50 euros), and the other bettor was winning 1000HKD (equals to 1000 euros).

No idea if betfair still providing such master agent accounts though.
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