Betfair left Russia

[Kai]

Hi, two questions :
1) Sorry i did not understand this point, if i move to a full regulated country, can i send 2 documents amongst that list, or some of these documents are mandatory? For instance, may i send only a water bill and a letter from the bank as proof of address?
2 ) I see you are from Croatia. Is Croatia full regulated? Do you think things could change there too from your perspective?
Thanks

1) Yes, any 2 from the list should suffice afaik. Always double-check with Betfair beforehand, things change.

2) See this post and thread viewtopic.php?p=221971#p221971

Good luck.

[offlimit88]

Thanks for the info

[VilluV]

Does anyone know if Betfair had actual legal reasons or even right to not only left Russian and Estonian market, but to also void/cancel all the bets, or what is the backround of these market closures?

I was hit by over 250 000 EUR financial damage because of this closure and IBAS is currently dealing with my case, but I wonder if anyone in this forum has some unique or interesting insight to these closures.

Betfair’s official excuse has been new regulations and that country’s authorities have ordered to execute these actions. I talked straightly to Estonian gambling authority and they confirmed that there are no new regulations, neither have they contacted Betfair or ordered them to do anything this year.

[Archery1969]

Does anyone know if Betfair had actual legal reasons or even right to not only left Russian and Estonian market, but to also void/cancel all the bets, or what is the backround of these market closures?

I was hit by over 250 000 EUR financial damage because of this closure and IBAS is currently dealing with my case, but I wonder if anyone in this forum has some unique or interesting insight to these closures.

Betfair’s official excuse has been new regulations and that country’s authorities have ordered to execute these actions. I talked straightly to Estonian gambling authority and they confirmed that there are no new regulations, neither have they contacted Betfair or ordered them to do anything this year.

Apparently the following has something todo with it:

“Betfair domains have been regularly blacklisted by Russia’s telecom watchdog Rozkomnadzor.”

[VilluV]

Does anyone know if Betfair had actual legal reasons or even right to not only left Russian and Estonian market, but to also void/cancel all the bets, or what is the backround of these market closures?

I was hit by over 250 000 EUR financial damage because of this closure and IBAS is currently dealing with my case, but I wonder if anyone in this forum has some unique or interesting insight to these closures.

Betfair’s official excuse has been new regulations and that country’s authorities have ordered to execute these actions. I talked straightly to Estonian gambling authority and they confirmed that there are no new regulations, neither have they contacted Betfair or ordered them to do anything this year.

Apparently the following has something todo with it:

“Betfair domains have been regularly blacklisted by Russia’s telecom watchdog Rozkomnadzor.”

Hmmm, I guess this is more of a motivation, but it shouldn’t give legal right to do these actions they’ve done? (even void earlier two-sided bets only for one side of transaction on Exchange)

[Kai]

I was hit by over 250 000 EUR financial damage because of this closure and IBAS is currently dealing with my case, but I wonder if anyone in this forum has some unique or interesting insight to these closures.

What happened? If you don't mind me asking.

This is a predominantly English community so not many people trading from outside of those areas, don't know any Russian forumites on here besides Napshnap, not sure if he's active but you can try PMing him if that helps.

[VilluV]

I was hit by over 250 000 EUR financial damage because of this closure and IBAS is currently dealing with my case, but I wonder if anyone in this forum has some unique or interesting insight to these closures.

What happened? If you don't mind me asking.

This is a predominantly English community so not many people trading from outside of those areas, don't know any Russian forumites on here besides Napshnap, not sure if he's active but you can try PMing him if that helps.

I was an active daily trader on Democratic Nominee Market from December 2019 - March 2020. Pretty much predicted every major trend in polls and on the market during that time period. So I made good profits and partially cashed out after Super Tuesday and was on a way of full cashout. Biden I had for a while over 300K green, but around that time when they closed my account, I think something with 274K.

Since this race was pretty much over after Super Tuesday and waiting Democratic Convention official announcement, I didn't check my account daily anymore (since also other events I would had bet on, were canceled due to corona).

Then in May I suddenly logged in and found my account has been closed and all my bets voided/canceled (because of the Estonia market closure). I found they have sent me an email about the closure to "promotions" section less than 1 business day in advance, before the closure.

And it seems they haven't usually voided already matched bets when they have left markets previously. So rather unprecedented situation?

After 3 and half months of email exchange with them (also with my lawyer), I finally got them to admit what has happened with me. And finally at least release some kind of data regarding to that market now this week. So IBAS panel is now ruling the case and the outcome of it should be mostly dependant if Estonian authorities have actually ordered Betfair to do these actions or not.

I'm an Estonian citizen and my account was registered on Estonian address/residency long time ago, although I haven't otherwise been much connected to that country anymore.

[Archery1969]

Does anyone know if Betfair had actual legal reasons or even right to not only left Russian and Estonian market, but to also void/cancel all the bets, or what is the backround of these market closures?

I was hit by over 250 000 EUR financial damage because of this closure and IBAS is currently dealing with my case, but I wonder if anyone in this forum has some unique or interesting insight to these closures.

Betfair’s official excuse has been new regulations and that country’s authorities have ordered to execute these actions. I talked straightly to Estonian gambling authority and they confirmed that there are no new regulations, neither have they contacted Betfair or ordered them to do anything this year.

Apparently the following has something todo with it:

“Betfair domains have been regularly blacklisted by Russia’s telecom watchdog Rozkomnadzor.”

Hmmm, I guess this is more of a motivation, but it shouldn’t give legal right to do these actions they’ve done? (even void earlier two-sided bets only for one side of transaction on Exchange)

But Betfair or any other company doesn’t need a legal or any other reason to leave a country and close down operations.

[VilluV]

Apparently the following has something todo with it:

“Betfair domains have been regularly blacklisted by Russia’s telecom watchdog Rozkomnadzor.”

Hmmm, I guess this is more of a motivation, but it shouldn’t give legal right to do these actions they’ve done? (even void earlier two-sided bets only for one side of transaction on Exchange)

But Betfair or any other company doesn’t need a legal or any other reason to leave a country and close down operations.

Yeah, no one is arguing against that. But the other subject of matter is that can they just cancel bets old bets for only one side of the transaction? Every bettor I've talked to has been really confused by that, how could they do that.

I mean they are offering Exchange platform where bettors exchange bets with each other, from what they take commission. But in the end there are two sides, two real persons behind these bets, in every transaction made on the market..like on a stock market.

And it sounds certainly unfair or unsound to cancel the bet for one side, while for the counterpart, the bet still runs.

Literally they are letting the losing bets run where bettors lose money and my profits just went to their pockets.

In earlier market closures they have usually honored already made bets and positions and bettors have been able to collect them through customer service later on.

And for what is the cash out option then if that doesn't mean your profit is already locked in (in a case market gets settled)?

[Archery1969]

Hmmm, I guess this is more of a motivation, but it shouldn’t give legal right to do these actions they’ve done? (even void earlier two-sided bets only for one side of transaction on Exchange)

But Betfair or any other company doesn’t need a legal or any other reason to leave a country and close down operations.

Yeah, no one is arguing against that. But the other subject of matter is that can they just cancel bets old bets for only one side of the transaction? Every bettor I've talked to has been really confused by that, how could they do that.

I mean they are offering Exchange platform where bettors exchange bets with each other, from what they take commission. But in the end there are two sides, two real persons behind these bets, in every transaction made on the market..like on a stock market.

And it sounds certainly unfair or unsound to cancel the bet for one side, while for the counterpart, the bet still runs.

Literally they are letting the losing bets run where bettors lose money and my profits just went to their pockets.

In earlier market closures they have usually honored already made bets and positions and bettors have been able to collect them through customer service later on.

And for what is the cash out option then if that doesn't mean your profit is already locked in (in a case market gets settled)?

I dont know to be honest, all i have seen is them telling customers to cancel bet and removed funds by 14th May I think. No reasons have been given that I have found. Could be politcally motivated, I know Putin is against all forms of betting unless its Poker as he considers that a game of skill. But for this to happen so quickly means either Betfair/Paddy Power were told to do it asap by someone in authority or their owners took the decisions that potentially something very dodgy was going on with Russion monies.

[VilluV]

But Betfair or any other company doesn’t need a legal or any other reason to leave a country and close down operations.

Yeah, no one is arguing against that. But the other subject of matter is that can they just cancel bets old bets for only one side of the transaction? Every bettor I've talked to has been really confused by that, how could they do that.

I mean they are offering Exchange platform where bettors exchange bets with each other, from what they take commission. But in the end there are two sides, two real persons behind these bets, in every transaction made on the market..like on a stock market.

And it sounds certainly unfair or unsound to cancel the bet for one side, while for the counterpart, the bet still runs.

Literally they are letting the losing bets run where bettors lose money and my profits just went to their pockets.

In earlier market closures they have usually honored already made bets and positions and bettors have been able to collect them through customer service later on.

And for what is the cash out option then if that doesn't mean your profit is already locked in (in a case market gets settled)?

I dont know to be honest, all i have seen is them telling customers to cancel bet and removed funds by 14th May I think. No reasons have been given that I have found. Could be politcally motivated, I know Putin is against all forms of betting unless its Poker as he considers that a game of skill. But for this to happen so quickly means either Betfair/Paddy Power were told to do it asap by someone in authority or their owners took the decisions that potentially something very dodgy was going on with Russion monies.

Estonian market closure was on Monday, May 04th. And they sent an email to their Estonian customers about it after 6pm in Estonian time on Friday, May 01th.

[Selmer]

This is a predominantly English community so not many people trading from outside of those areas, don't know any Russian forumites on here besides Napshnap, not sure if he's active but you can try PMing him if that helps.

I am from Ukraine/Russia.

As for VilluV, unfortunately, I can`t share anything informative or interesting, I just hope that everything will resolve in your favor. It`s painful to read, so unfair.

[VilluV]

This is a predominantly English community so not many people trading from outside of those areas, don't know any Russian forumites on here besides Napshnap, not sure if he's active but you can try PMing him if that helps.

I am from Ukraine/Russia.

As for VilluV, unfortunately, I can`t share anything informative or interesting, I just hope that everything will resolve in your favor. It`s painful to read, so unfair.

Thank you.

[vljrsn]

This is a predominantly English community so not many people trading from outside of those areas, don't know any Russian forumites on here besides Napshnap, not sure if he's active but you can try PMing him if that helps.

I am from Ukraine/Russia.

As for VilluV, unfortunately, I can`t share anything informative or interesting, I just hope that everything will resolve in your favor. It`s painful to read, so unfair.

Thank you.

Can I send You PM?

[vljrsn]

This is a predominantly English community so not many people trading from outside of those areas, don't know any Russian forumites on here besides Napshnap, not sure if he's active but you can try PMing him if that helps.

I am from Ukraine/Russia.

As for VilluV, unfortunately, I can`t share anything informative or interesting, I just hope that everything will resolve in your favor. It`s painful to read, so unfair.

Thank you.

VilluV , can I send PM ?