Kai wrote: ↑Sun Sep 20, 2020 8:11 pm
Archery1969 wrote: ↑Sun Sep 20, 2020 3:49 pm
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.