Betfair are scum

Pages: [1] 2
Author Topic: Betfair are scum  (Read 1061 times)
dealer wins
Totally Pro
*****

Karma: 16
Posts: 927



View Profile

dealer wins

Betfair are scum
« on: November 04, 2020, 09:18:28 PM »

My 17 year Betfair account.

After using Betfair heavily for 17 years arbing, they have today closed my account.
My account was fully verified back in 2004, actually had to visit a post office in person and get a document verified lol

Fast forward to April 2020, I attempted to log in and found my account locked.  I contacted support who advised they required ID, address proof, and asked how I funded my account.

Sent this in on live chat there and then, and was advised it would be passed to their verification team.

After hearing nothing for 2 weeks I chased up and was told it can take many weeks  (Due to lockdown I was not betting at all so not an issue then)

After 2 months I received an email asking me to explain how in 2016 I had a loss of over £100,000 and how I funded it.

I sent a very detailed email of how I am a full time arber, and included a screenshot of my master spreadsheet showing my profit for the year of £53,000 and screenshots of the main books I arb Betfair with  (Pinnacle and Matchbook mainly)

They then requested proof of all bets for 11 different games I had had a win or loss on in 2020.  I provided a screenshot of every single bet for all the 11 events, except for bets I had placed in physical bookies, as I never keep a copy of betting slips for shops.

After a further 3 weeks they said they were closing my account as I could not provide the necessary evidence.

So there you have it, if you use Betfair don’t tell them you arb, bet or trade at any other book, and be prepared for your account to be locked for 3 months and then closed.

Anyway, pleased to report I am using Betfair via agents, and my arbing career continues, but I hate them with a passion and urge people to be careful, they are scum.
Logged

Never trust a goose!!!
cem
Gaining experience
*

Karma: 0
Posts: 8


View Profile

cem

Re: Betfair are scum
« Reply #1 on: November 05, 2020, 12:37:46 AM »

The current major topics of the site about betting are "Orbit Exchange winning not allowed?",  "bet365 are cheaters", "Problem with Scrill deposit", and now the "Betfair are scums".

Should we reconsider some things about some established brands? i would appreciate to read the opinion of the experienced members. Thank you.
Logged
campeones
Becoming a Pro
***

Karma: 30
Posts: 244


View Profile

campeones

Re: Betfair are scum
« Reply #2 on: November 05, 2020, 06:46:59 AM »

Closing your account is not an act of scum. At least this is the way I understand it. Did they confiscate your balance, or did they returned it back to you?

But at the same time, closing a 17-year-old account after long term arbing action shows they no longer welcome sharp action of this kind. We, arbers, understand that when you arb there is a constant money flow from the exchanges and Pinnacle to soft bookmakers. This shouldn't be a problem for Betfair even if they risk their own money in their exchange. Unless there is something we don't know, closing your account shows that Betfair is no a different operating procedure than we already know. I am more scared of this than the fact they closed your account.

Here is a lesson learned for you, always keep the betting slips from the shops or the terminals.
Logged
kapetan1122
Becoming a Pro
***

Karma: 16
Posts: 283


View Profile

kapetan1122

Re: Betfair are scum
« Reply #3 on: November 05, 2020, 08:41:14 AM »

Sad times are coming,i am accused of fradulent activity from one of the agents because i beat pinnacle and earn money from them,i gave them few more days to sort my problem and if not i ll be going out with my case so it seems your money is not safe and you are not protected from anybody in this days when top exchanges or betting sites are harassing people in this way.
Logged
alealeale
Pro
****

Karma: 14
Posts: 339


View Profile

alealeale

Re: Betfair are scum
« Reply #4 on: November 05, 2020, 09:14:11 AM »

Horrible story but it seems Betfair could have been forced by some authority to ask customers proof of incomes and strong evidences about their financial strenght to be able to bear that kind of loss.
Logged
dealer wins
Totally Pro
*****

Karma: 16
Posts: 927



View Profile

dealer wins

Re: Betfair are scum
« Reply #5 on: November 05, 2020, 11:25:43 AM »

Re keeping betting slips.  I would have done if I had known that Betfair would require them, even though they made up under 1% of the betting volume and I was able to provide them with evidence of every other bet I made on all the markets they requested.

RE my 2016 loss.  This was made up mainly of 7 big markets which all saw five figure amounts lose on Betfair and funny enough all won on Matchbook.   I could not provide them with proof, as, A Matchbook dont keep records that long and B, I closed my Matchbook account over 2 years ago due to them imposing a 40% revenue share on me lol

Also I was able to provide them with proof of wealth, liquid assets of over £420,000, along with my total profit and loss for the last 10 years each year, to the penny as I keep accurate records.

I must have easity paid over £300,000 in commission in that time, and for them to close my account for no possible logical reason I can see, I stand by my view of them as scum.
Logged

Never trust a goose!!!
arbusers
Administrator
Totally Pro
*****

Karma: 435
Posts: 4258



View Profile WWW

arbusers

Re: Betfair are scum
« Reply #6 on: November 05, 2020, 11:41:20 AM »

It is my belief that sharp bookmakers and exchanges are not what they used to be. The ''arbers friendly'', ''winners welcome'' etc are simply marketing slogans and nothing more. No-one welcomes sharp action, and some actions are sharper than others and this makes them even more unwanted.

In dealer wins case, the 1% bets placed on shops is an acceptable buffer for me.

I understand that bookmakers have to comply with regulatory directives and orders. But at the same time, I have highlighted several times the hypocrisy of several moral curtains like tax evasion, and terrorism funding. So I am wondering whether compliance with regulation is a new moral curtain used by bookmakers to stop sharp action that harms their profitability.

There is a question that was raised from the dealer win's post. What if, Betfair correlated the activity of your original Betfair account, with the activity of your agent's account? They are masters of profile screening and I am 100% sure that a sample of a weekend's action is more than enough to correlate accounts. Then we are talking about a business decision and nothing more than this.

At the same time, calling them a scum might be heavy in this case.
Logged
Lowe
Gaining experience
*

Karma: 0
Posts: 3


View Profile

Lowe

Re: Betfair are scum
« Reply #7 on: November 05, 2020, 02:08:55 PM »

No chance of a hospitality day then DW.
Logged
justanarber
Guest


Email

justanarber

Re: Betfair are scum
« Reply #8 on: November 05, 2020, 02:45:23 PM »

with 2% commission arbers are not as attractive now in 2020 as they were to betfair in the past, arbers can take a lot of the value
with their skills and then have a winning account on Betfair, I know Dealer wins has big losses but I am sure most of that was in the past,
large losing accounts are not as common now.

there is much value on betfair for shrewd guys, 1.13 on Biden to win Popular vote when it should have been 1.02 is one recent example
but for patient smart guy he can find many "free money" bets, Betfair does not want these smart guys and arbers are smart guys,
Betfair is now closer to their parent Paddy Power and only wants mugs.
Logged
dealer wins
Totally Pro
*****

Karma: 16
Posts: 927



View Profile

dealer wins

Re: Betfair are scum
« Reply #9 on: November 05, 2020, 05:58:17 PM »

There is a question that was raised from the dealer win's post. What if, Betfair correlated the activity of your original Betfair account, with the activity of your agent's account? They are masters of profile screening and I am 100% sure that a sample of a weekend's action is more than enough to correlate accounts.

Yes I thought about that.  I used to bet mainly on 6 different sports, I have changed that and put action for 4 of those sports through Betdaq only, and also changed my betting style, amounts and Betfair strategy somewhat.  I am also sending much more of my betting via Betdaq wherever possible. I very much doubt they would ever be able to match me up thankfully.
Logged

Never trust a goose!!!
jagas
Becoming a Pro
***

Karma: 5
Posts: 218


View Profile

jagas

Re: Betfair are scum
« Reply #10 on: November 05, 2020, 06:47:54 PM »

What do you expect from an exchange that decides to restrict some important countries and even remove themselves from some agents.

It wont be long before they start voiding bets and holding back funds because this is the same protocol all the others who are doing it now took.
Logged
dealer wins
Totally Pro
*****

Karma: 16
Posts: 927



View Profile

dealer wins

Re: Betfair are scum
« Reply #11 on: November 05, 2020, 10:18:10 PM »

Something really funny has happened today, I have received my final balance to my Santander bank account again.   Talk about poetic justice, they wont be getting that back trust me.  Thank you Betfair, lets call it a parting gift looooooooooooool
Logged

Never trust a goose!!!
peny22
Gaining experience
*

Karma: -5
Posts: 51


View Profile

peny22

Re: Betfair are scum
« Reply #12 on: November 06, 2020, 08:49:52 AM »

Something really funny has happened today, I have received my final balance to my Santander bank account again.   Talk about poetic justice, they wont be getting that back trust me.  Thank you Betfair, lets call it a parting gift looooooooooooool

Do you make money from arbitrage just playing live? I understand you only use Pinnacle and the betting markets?
Logged
dealer wins
Totally Pro
*****

Karma: 16
Posts: 927



View Profile

dealer wins

Re: Betfair are scum
« Reply #13 on: November 06, 2020, 10:30:08 AM »

Something really funny has happened today, I have received my final balance to my Santander bank account again.   Talk about poetic justice, they wont be getting that back trust me.  Thank you Betfair, lets call it a parting gift looooooooooooool

Do you make money from arbitrage just playing live? I understand you only use Pinnacle and the betting markets?

95% of my betting is now pre-match, which is very different from a year ago
Logged

Never trust a goose!!!
jagas
Becoming a Pro
***

Karma: 5
Posts: 218


View Profile

jagas

Re: Betfair are scum
« Reply #14 on: November 06, 2020, 11:28:15 AM »

Something really funny has happened today, I have received my final balance to my Santander bank account again.   Talk about poetic justice, they wont be getting that back trust me.  Thank you Betfair, lets call it a parting gift looooooooooooool


Do you mean they paid you twice? because if that is so, lets hope you address is wrong hahaha
Logged
Pages: [1] 2
Print