Fund passing at Betfair

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arbusers
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Re: Fund passing at Betfair
« Reply #0 on: January 06, 2021, 09:26:56 AM »

January 06, 2021, 09:26:56 AM - Hidden.
« Last Edit: January 23, 2021, 07:43:02 AM by arbusers » Logged
Manos35
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Fund passing at Betfair
« on: January 07, 2019, 06:12:16 PM »
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Hello to everyone..

Can someone please explain how "fund passing" work at exchange and how a player can make profit out of it?
« Last Edit: January 23, 2021, 07:43:14 AM by arbusers » Logged
apoel81
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Re: Funds passing at Betfair
« Reply #2 on: January 07, 2019, 06:39:15 PM »
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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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Re: Funds passing at Betfair
« Reply #3 on: January 07, 2019, 07:35:29 PM »
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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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Re: Funds passing at Betfair
« Reply #4 on: January 07, 2019, 09:05:24 PM »
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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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Re: Funds passing at Betfair
« Reply #5 on: January 07, 2019, 09:41:50 PM »
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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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arbusers
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Re: Funds passing at Betfair
« Reply #6 on: January 23, 2020, 06:44:31 AM »
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Thank you for your excellent post Apoel81.
Fund passing is the reason why many agents went bust and the reason why almost no-one nowadays is providing extra liquidity and limits to players that really need it for genuine arbing/value betting action. Those who still provide extra liquidity and limits to players are now forced to check action on a daily basis and limit the number of clients only to ''friends and relatives''. Fund passing, as a mean of transferring undetected money from a person to another, could be used for many bad activities. Fund passing became the 2nd burden after the game fixers.
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dealer wins
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Re: Funds passing at Betfair
« Reply #7 on: January 24, 2020, 09:54:34 AM »
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Any agent that takes a percentage of their clients positions on an exchange is an idiot lol
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apoel81
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Re: Funds passing at Betfair
« Reply #8 on: January 24, 2020, 10:05:09 AM »
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Any agent that takes a percentage of their clients positions on an exchange is an idiot lol

exaggerated. It depends on who are your customers. Obviously noone would like to take position on your arbs but many are willing to take position on mugs bets
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arbusers
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Re: Funds passing at Betfair
« Reply #9 on: January 24, 2020, 12:40:12 PM »
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Any agent that takes a percentage of their clients positions on an exchange is an idiot lol

exaggerated. It depends on who are your customers. Obviously noone would like to take position on your arbs but many are willing to take position on mugs bets

Sorry guys, both wrong.
@dealer wins, some agents are filtering their clients and they know exactly what action will come from them. Instructions, goodwill, and mutual guarantees make sure that in the long-run no party will lose.
@apoel81, arbers are agent's best clients, in the same manner, they are Betfair's best clients. Obviously these are not mug bets but quite the contrary. Ever wonder why we notice that phenomenon in arbing action when money flows from Pinnacle and Betfair to soft bookmakers?
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Wolfie
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Re: Funds passing at Betfair
« Reply #10 on: January 24, 2020, 12:53:26 PM »
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They both like arbers and they both dislike value bettors. Funds passing is illegal and no one wants to fuck with government so they cant allow it. Another thing is if funds passing is allowed, they would lose their payment processors too.
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alealeale
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Re: Funds passing at Betfair
« Reply #11 on: January 06, 2021, 09:49:56 AM »
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We are noticing a growing number of fund passing incidents lately, and we believe it is time to make some things clear, and warn both, genuine smart bettors like our members, and bad will fund passers.

We are not here to educate fund passers but for the sake of the argument, we will explain what fund passing is without explaining the details. Like this, genuine smart bettors will know a priori when their activities resemble to fund passing and will refrain from practicing it.

Fund passing is when you use a low liquidity market in an exchange, in order to move funds from one exchange account to another. To achieve that, a potential fund passer will intentionally ask for wrong odds to make sure (even though you can never be sure) that funds will go in his desired direction.

On top of that, there is fund passing 2.0, when fund passers are using the extra liquidity provided by agents in order to suck funds from the agent and the exchange. This is the reason why some agents went bust and the reason why only underground agents are providing extra liquidity these days.

As you understand fund passers are damaging the genuine business of the smart bettors (arbers, value bettors, etc). In addition, a lot of criminal activities might be hidden behind fund passing that spawns far beyond the trivial crimes of money laundering, terror funding, etc. There is a lot of bad will and no real smart betting in this technique.

Those who are fund passing might believe they found the holy grail of betting, others might have their epiphany moment, but have no doubt that exchanges and agents are determined to stop these activities ruthlessly. As a result, when they detect fund passing activities, they usually confiscate winnings and initial deposits.

A growing number of players are posting in our forum their complaints about funds confiscation based on fund passing accusations. We are more than happy to see some players getting their funds back, due to a wrong assessment of the situation from the exchanges and the agents. We actively help our members to get their funds back, especially if they are referred by arbusers. But at the same time, we are against and condemn every fund passing activity, and we will not support anyone with such a record.

In addition, we do not advise our members to use these techniques as the risk of capital evaporation is immense, and there are other ways to make money from betting in a noble way.

See an older announcement about fund passing here: https://arbusers.com/index.php?topic=6290.msg68705#msg68705

Feel free to comment. And of course, a massive thank you to all posters below.
Thanks for this post! some weeks ago, I've realized casually that offering a bad odd on an exchange could result a very good deal buying it on an exchange offering more liquidity (that what you call 2.0) but I've never
taken into consideration to pass from theory to practice because it sounded very shady and now you gave me confirm that this is a manual case of fund passing.
This way, I'm a little bit pacified by taking a very good odd when it happens (1/1000 bets) and by the other side, If I do a mistake because of hurry (luckily it happened more often in the past) I'm quit sure not to lose
both: wrong surebet stake and full balance on exchange :D
...I hope my theory won't be belied by events  :D
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sinbad
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Re: Funds passing at Betfair
« Reply #12 on: January 23, 2021, 06:53:39 AM »
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Hello everyone.
I understand correctly, based on the starting topic,
what if i saw on the market that the odds are higher than in pinnacle and i made a bet, then i should expect account blocking and confiscation of funds?)

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arbusers
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Re: Funds passing at Betfair
« Reply #13 on: January 23, 2021, 07:42:23 AM »
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Hello everyone.
I understand correctly, based on the starting topic,
what if i saw on the market that the odds are higher than in pinnacle and i made a bet, then i should expect account blocking and confiscation of funds?)

A bet in higher than Pinnacle's odds is not considered to be fund passing per se.
There are more requirements for a bet to fall into this category.
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Wolfie
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Re: Fund passing at Betfair
« Reply #14 on: January 23, 2021, 09:20:06 AM »
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I think with european new rules for online payments your pain will come to an end. Fund passing will almost die. So there will be less and less cases where betfair confiscates funds.
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