Bet365 whistleblower reveals...

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neopas
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Bet365 whistleblower reveals...
« on: December 05, 2019, 04:20:32 PM »

Former Bet365 customer account supervisor reveals how bet365 uses backdoor algorithms, restrictions and allegations of delaying tactics to skew the competition and drive up profits — all while the punter thinks they're playing a fair game.
Enjoy: https://www.abc.net.au/news/2019-12-05/bet365-whistleblower-says-winners-given-delays/11768486?pfmredir=sm
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dealer wins
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Re: Bet365 whistleblower reveals...
« Reply #1 on: December 05, 2019, 06:28:07 PM »

Pretty much how 99% of sportsbooks manage their customers.  They understandably dont want customers that cost them money, just like any business wouldn't want to make a loss on one of their customers.
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arbusers
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Re: Bet365 whistleblower reveals...
« Reply #2 on: December 05, 2019, 06:30:43 PM »

Really, is he revealing anything we don't already know?
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neopas
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Re: Bet365 whistleblower reveals...
« Reply #3 on: December 05, 2019, 07:28:25 PM »

The (on purpose) delays for accepting the bets are something new form me. Also I m wondering how did they find these photos. They sent someone in their offices.
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Wolfie
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Re: Bet365 whistleblower reveals...
« Reply #4 on: December 06, 2019, 09:14:13 AM »

This is nothing. Its just the tip of the iceberg. Being in this business has made us learn more than the employee himself. This is because bet365 is a big company and one department knows nothing what other departments do. We know what their IT department does, we know what their finance does, we know what support does, we know what risk department does, we know what traders do. If you have a sharp eye you can see what they do without being there.
« Last Edit: December 06, 2019, 09:16:12 AM by Wolfie » Logged
VidaBlue
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Re: Bet365 whistleblower reveals...
« Reply #5 on: December 06, 2019, 09:31:45 AM »

Effective customer management by legal means must be one very important part of running a succesful sportsbook. The world's largest online bookmaker, Bet365, probably excels in this discipline as well.

The skilled profitable sports bettor should be grateful for any advances in the industry, that make it difficult for less skilled sports bettors as well, including hordes of less informed value bettors and arbers, as well as those less advanced bots. At the end of the day, the punters' lost money is the only thing that remains on the right side of the balance sheet. This money is needed to pay for the bookmakers' running costs and their profits, data services and profitable sport bettors' profits.

One could choose to look upon sport books as collaborators. I do. After all, they provide the infrastructure for making profits at sports betting, they provide for a money flow which starts at the losing punter's pocket and ends up, among other places, at the account of the profitable sports bettor. Those measures that sport books take in order to filter out profitable customers are very much necessary for a healthy balanced betting industry.
« Last Edit: December 06, 2019, 09:37:17 AM by VidaBlue » Logged
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Re: Bet365 whistleblower reveals...
« Reply #6 on: December 06, 2019, 11:43:19 AM »

Great post VidaBlue, exactly what I would say but you say it much better!
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PunterLog
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Re: Bet365 whistleblower reveals...
« Reply #7 on: December 06, 2019, 02:38:13 PM »

Effective customer management by legal means must be one very important part of running a succesful sportsbook. The world's largest online bookmaker, Bet365, probably excels in this discipline as well.

The skilled profitable sports bettor should be grateful for any advances in the industry, that make it difficult for less skilled sports bettors as well, including hordes of less informed value bettors and arbers, as well as those less advanced bots. At the end of the day, the punters' lost money is the only thing that remains on the right side of the balance sheet. This money is needed to pay for the bookmakers' running costs and their profits, data services and profitable sport bettors' profits.

One could choose to look upon sport books as collaborators. I do. After all, they provide the infrastructure for making profits at sports betting, they provide for a money flow which starts at the losing punter's pocket and ends up, among other places, at the account of the profitable sports bettor. Those measures that sport books take in order to filter out profitable customers are very much necessary for a healthy balanced betting industry.

While i agree with your idea of maintaining a "Healthy balanced betting", i'd definitely say that Bet365 doesn't follow that.

There's a point where the limiting of winning players accounts goes from "healthy balanced betting" to "pure greed". When your limits are slashed to 5$ i believe it falls into the latter category. Also, the CEO of Bet365 took home a cool 506 Million $ last year. Surely she can let the minority of winning Players have a bet bigger than 5$.

No one's saying that Bet365 has to accept high 5 digit bets from winning punters. But, something like mid 3 figures etc should be a minimum for such a large bookmaker.

Bookmaking needs to be a two way street in order to be balanced. You can't limit all winning punters to peanuts while continuing to exploit mug punters which is exactly what 365 does.
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Wolfie
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Re: Bet365 whistleblower reveals...
« Reply #8 on: December 06, 2019, 03:15:10 PM »

Gambling is a war of opinion. You study a game and your opinion is converted into odds. If someone has different opinion than you, he bets on your odds. 365 choice is to battle only with people with unprofessional opinion on football, basketball, tennis etc. And in this philosophy are based all its operations.
Its same philosophy that we use. Do you valuebet at pinnacle ? No. Why is that ? Because you cant beat pinnacle. Its opinion is better. Than what is wrong with 365 choosing not to battle against you ? Same way 365 exploits statistics ignorant who bet for fun they say, you want to exploit 365.
So 365 is not our friend. Its our enemy. And they fear us. But most of us change faces so 365 does not know, that it is battling again against the ones it cant beat.
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arbusers
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Re: Bet365 whistleblower reveals...
« Reply #9 on: December 08, 2019, 05:26:14 PM »

Do you valuebet at pinnacle ? No. Why is that ? Because you cant beat pinnacle. Its opinion is better.

You are wrong here.
First, because there is people value betting at Pinnacle. If you are used banging soft bookmakers for a number of years, then you can't believe that others are value betting with Pinnacle and Betfair.
Second, because smart bettors will choose which battle to give. You don't compete with Pinnacle or any other bookmaker in all markets. The smart bettor will select the markets (battles) that he wants to use, and these are the markets that he will beat Pinnacle.
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arbusers
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Re: Bet365 whistleblower reveals...
« Reply #10 on: December 08, 2019, 06:01:22 PM »

Also, the CEO of Bet365 took home a cool 506 Million $ last year. Surely she can let the minority of winning Players have a bet bigger than 5$.

I would like you to take your phrase and analyze it. I am really sorry to say this, but it shows that you have a very distorted opinion about money. Don't take it negatively. This is to help you.

To reshape your idea, I m asking you, next time you have a bet365 arb, don't place 100 euros bet, but place a smaller one because there are other players wanting to bet at the same event.
« Last Edit: December 08, 2019, 06:03:46 PM by arbusers » Logged
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Re: Bet365 whistleblower reveals...
« Reply #11 on: December 08, 2019, 06:22:58 PM »

Also, the CEO of Bet365 took home a cool 506 Million $ last year. Surely she can let the minority of winning Players have a bet bigger than 5$.

I would like you to take your phrase and analyze it. I am really sorry to say this, but it shows that you have a very distorted opinion about money. Don't take it negatively. This is to help you.

There's absolutely no need to apologize for anything here. Also, you can be as straight forward and politically incorrect with me as you want. I like a good debate and i love discussing opposing points of view.

For starters, i'm a staunch capitalist and i believe that someone who's founded the business should always get the biggest part of the profits as they themselves took a huge risk while starting the business.

Having said that, i think you misunderstood my post or may be i came off the wrong way. I don't have a problem with the CEO making 500 Million$. Rather, i have a problem with the way the CEO makes that money. If someone like Pinnacle made 5 Billion$, i wouldn't care and i'd be happy for them.

What % of clients on bet365 make money in the longterm? I'd guess at most 10% and i'd say that's being extremely generous. So, Bet365 takes the bets from the mug punters and then limits the few winning punters to 5$. It's a one way street. That's what my problem is.

I also said this

Quote
Surely she can let the minority of winning Players have a bet bigger than 5$.

If Bet365 had limits of say 250$ for the winning punters, i wouldn't blame their way of doing business. But, right now, what 365 and every mainstream bookie outvthere does is nothing more than exploitation in my opinion i.e take bets from mugs and limit winners to peanuts.

Quote
To reshape your idea, I m asking you, next time you have a bet365 arb, don't place 100 euros bet, but place a smaller one because there are other players wanting to bet at the same event.

I don't arb. I haven't made a single arbitrage bet.

Having said that, this analogy is wrong. Because in your example, everyone is allowed to place an arb according to their capabilities. I'm not forcing any individual to stop their activity. Everyone is free to compete against me. What Bet365 does is tie the hand of the winning punters and only accept bets from recreational punters. They are actively stopping the winning punters from competing.

Also, Bet365 being a bookmaker obviously needs to maintain a balance. Which is why, i'm not against limiting winners but i'm against the way they limit them to amounts like 5$.
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arbusers
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Re: Bet365 whistleblower reveals...
« Reply #12 on: December 08, 2019, 06:33:34 PM »

My previous post has nothing to do with the way Bet365 operates. I am not commenting on that.
It has to do with the parallelism of Bet365's boss dividend, with the limits imposed on players.
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4lexy4
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Re: Bet365 whistleblower reveals...
« Reply #13 on: December 08, 2019, 06:36:24 PM »

Also, the CEO of Bet365 took home a cool 506 Million $ last year. Surely she can let the minority of winning Players have a bet bigger than 5$.


Also, Bet365 being a bookmaker obviously needs to maintain a balance. Which is why, i'm not against limiting winners but i'm against the way they limit them to amounts like 5$.
                                              belive me you dont know what you speak
« Last Edit: December 08, 2019, 06:39:05 PM by 4lexy4 » Logged
PunterLog
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Re: Bet365 whistleblower reveals...
« Reply #14 on: December 08, 2019, 06:39:04 PM »

My previous post has nothing to do with the way Bet365 operates. I am not commenting on that.
It has to do with the parallelism of Bet365's boss dividend, with the limits imposed on players.

Aren't they directly related?

If the Winning players weren't reducing the company's profits, why would they even limit them in the first place? They limit winning players to increase their profits which ends up with the stake holders.

Am i missing something here?
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