Arbusers

dealer wins wrote: So Betfair's service is just as shit to a huge client, as it is to everyone else. Scary really they used to be so different.

I met a guy at Matchbook recently (They invited me to do an hour survey at their office in Kentish Town, London)  who used to work for betfair.  He left BF a couple of years back and was telling me how it used to be all about looking after their big players (the 2% com ones).  But now its all about cutting everything to the bone and no exceptions.  Such a shame, and  Betfair's cuts and greed are showing, they are hated by many big (and former big) Betfair users myself included.  They basically dont give a shit, and have cut so much that their service levels have gone to shit.  Look at all their recent outages, I bet thats due to cutbacks/outsourcing etc

* I posted this in the AC thread in error, sorry*

of course a guy who has left Betfair for matchbook is going to criticise Betfair!!

dealerwins you continue to use matchbook but your criticism of betfair is fueled by your own
personal experience and is grossly exaggerated.

sure there has been a decline but Betfair is essential to many arbers

1)So the master account is closed & with it all our accounts & with it all our funds. Is that correct?
2)Show us the terms and conditions we singed referring that betfair can keep-froze all our funds for as long as they want.
3)Why betfair didnt send you back the balance of the master account until they make the new one so you have no problems?(dont reply that its their decision as you already told me).

hard to believe betfair froze millions maybe from you untill they provide you with another master account.

also you should comment on what happens to the money are lost for the past days of inactivity of the main betfair account some have.

Do you mean that the funds are frozen too?
Do PT allow to transfer the funds to other bookies like SBO and Pinny or to withdraw them?
Cause if they also froze the funds of the clients without any warning , this is really serious hurting the level of the reputation of this agent. For me it is really unacceptable...

I have transfered all my money from betfair account to my another bookie account without a problem.

Is there someone who requested a withdrawal and didn't receive his/her money?

I have requested the closure of my PT account (because new terms are not good to me) night before that master account was blocked. I was informed that there will be standard closing account fee and money will be transfered to me.
Day after i got an email in which is said that all accounts are closed and that my request will be processed when they get new accounts. So to close this account i need to wait to get a new account and then close that account.
I believe that BF is difficult partner but this kind of situation is big big minus for PT. They could handle it better, at least that funds can be withdrawn.

Best regards

Hi guys,

Please refer to the last- minute updates regarding your Betfair accounts.

Finally Betfair has provided us with a new master account, but unfortunately it is still not operational since it has some bugs.
Those technical issues, features, as well as regulation issues is currently being discussed  with Betfair and we were promised by them that it will be solved within the next 24 hours.
As soon as this is done, we will be able to provide once again Betfair accounts.
Meanwhile, our old master account was enabled for transactions and for those who does not have the patience to wait for their new Betfair account, please send us your request and we can cash out your money or transfer it to an existing account.
As a compensation to all our Betfair customers we will not count this payout as a regular withdrawal for the month and will cover all the expenses over it for you.
Please note that due to the high traffic of requests we expect, our Financial Department will do its best to fulfill all the requests, yet we expect some delays due to that.

Thank you for your patience in advance and accept our sincere apologies.

Kind Regards,
PRMTS team

Is this creation of a new betfair master account and betfair's new policy to have a login as a username  somehow connected with Premium Charge?
Please tell more about regulation issues with betfair. Are they about commision structure or what they are?
What we should expect from this new betfair's policy in the future?

I talked to them yesterday too. I requested to withdraw my balance as i cant use their service in this situation & they said that the funds are frozen in the master account & it will be available when betfair provides the new master account as M@chibist said. So the money werent available for  withdrawal as they told you.

Plus i remember in the beginning they were saying that the funds are not tied up in the accounts & that our funds are not at any risk.

With the last update i think the problem is solved for now &i believe they did their best to fix it as soon as possible.

Can confirm that yesterday withdrawals were processed as it is stated from PT. (without fees)

Dear all,

We would like to notify you that we are once again able to provide BetFair account.
Nevertheless, due to new BetFair regulation, we will have to imply the following changes:

1.    The account must carry your name + address (disclosed to BF team)
2.    You must provide us identity document + proof of address in order to hold account (docs are not disclosed to BF, yet they reserve the right to require it from us)
3.    BF reserves the right to charge their “premium charge”  for the winnings of this account
4.    Multiple accounts are not allowed by BF. If you already hold a BF account, you might get one/ all your accounts suspended and there is nothing we can do about it, as we can’t know which accounts you hold outside of our master
5.    Some of the countries are restricted and their residents will not be able to hold BF account with us
6.    PremiumTradings will not take any liability for the bets and the accounts, and cannot affect any decision taken by the BF team. It means that we cannot guarantee your money if Betfair close the account.
7.    All withdrawals requires an inspection of Betfair team. We were promised that it will be done within 24 hours from the request but we will not be held liable for any delays caused by Betfair

In addition, and due to technical reasons outside of our hands (and only BF can fix):
1.    Only customers with minimum deposit (or balance) of 5000 Euro will be able to hold BF account
2.    Customer must provide our support team the password for their account (or update us when changing it)

Customers who wish to have their old accounts migrated to the new master, can contact our support.
Customers who following those changes wish to cash out, can send us a withdrawal request at any time. We recommend that withdrawals over 50,000 Euro will be processed via bank wires otherwise you might face slight delays.
We remind you that Betfair accounts can still be accessible via Goal tool.

For any concern or question, please contact our support by mail or chat.
We acknowledge the fact that all of you were patient and we are once again apologize for any inconvenience caused by BetFair team.


Kind Regards,

Looks like Premium Tradings customers had won too much from betfair.

Hi all,
@pol22 was quicker than me and quoted our last email.
Bottom line guys- opening an account under our master is going to be exactly like opening an account directly with BetFair.
Due to their latest policy, we are no longer can keep you anonymous and we must comply with the regulation in terms of restricted countries.
For those of you who finds it still suitable and wants to enjoy the 3.8% commission- great.
For the rest who choose to cash out or transfer their funds to other bookie- we will of course respect yourdecision and do our best to do it as quick as possible (please have in mind that we have huge amount of accounts to handle all at the same time now...).
We will also connect soon couple of account to the goal tool, so you will still be able to use the tool as before.
Thank you all for your patience and apologies for the inconvenience caused by BetFair!

PremiumTradings team

There is no point to maintain an account with so many restrictions.
3.8% is not that attractive if you consider all these limitations. Maybe you should offer a much lower comission for your clients...

Ive said it already in this thread, BF are a complete load of corporate clueless greedy ignorant fools who have no business morals whatsoever. 

Yes we have to use them (for now) but they are shit beyond belief.