This is all the same disingenuous statement, just like energy companys and Smart meters, "get one of these and it will save you energy", rather it should be "get one if these so we can harvest and sell your data and make more money for our CEO"!
"We're applying £100 controls to protect you" vs
"We're applying £100 controls as it is a very effective way of purging match bettors from our platforms"
Betfair Account Restrictions & closed accounts - Getting them removed and accounts reopened
- ShaunWhite
- Posts: 9731
- Joined: Sat Sep 03, 2016 3:42 am
- jamesedwards
- Posts: 2234
- Joined: Wed Nov 21, 2018 6:16 pm
I suppose there is an obvious answer to all these issues for full-time/successful traders, because many problems seem to surround restrictions on deposits.....Never withdraw any of your working capital, just withdraw what you want to send to your bank
Hello guys,
first of all sorry my english.
As I noticed in this thread most problems of suspending BF accounts are connected with UK customers. Is this somehow influenced by UK gambling laws ? I know there are some changes in UK. I know some pro-traders outside UK making still huge deposits a withdrawals and no one had problem last few months. Thanks a lot.¨
Libor
first of all sorry my english.
As I noticed in this thread most problems of suspending BF accounts are connected with UK customers. Is this somehow influenced by UK gambling laws ? I know there are some changes in UK. I know some pro-traders outside UK making still huge deposits a withdrawals and no one had problem last few months. Thanks a lot.¨
Libor
Never thought about it but from what you say, it could well be a case of Betfair trying to please the UK Gambling Commission. (Your English is fine. )libor88 wrote: ↑Sat Sep 25, 2021 4:41 pmHello guys,
first of all sorry my english.
As I noticed in this thread most problems of suspending BF accounts are connected with UK customers. Is this somehow influenced by UK gambling laws ? I know there are some changes in UK. I know some pro-traders outside UK making still huge deposits a withdrawals and no one had problem last few months. Thanks a lot.¨
Libor
Today myself I ended also writing to Peter Jackson as the situation was ridiculous
about 2.5 months ago, the CDD team contacted me to ask proof of funding (on a net profit +15 year old account that at some point I even paid premium charges and have over 250.000€ on commisions paid), like wtf, the funds I deposit when I need could be from the previous betfair withdrawals. But whatever.
Sent them some bank account screenshots
- we need more
sent them more
- we want more
sent them every single page of the bank account
- We are ok, we will contact you if needed, but in the meanwhile, here you have a 150€ daily deposit as maximum
one month later when I was betting, bam, account closed in the middle of a match, contacted priority because wtf and "oh, the international team and CDD slept on this", you they didn't do anything and just close the account without any info, like wth?
No worries, we will contact you in 72 hours. A week passed, nothing, I contact them again "oh, they must forgot, we will send them a reminder", another week with no info, third week this one, nothing at all, just desperate writing to Peter, what a disaster they are creating, my god.
about 2.5 months ago, the CDD team contacted me to ask proof of funding (on a net profit +15 year old account that at some point I even paid premium charges and have over 250.000€ on commisions paid), like wtf, the funds I deposit when I need could be from the previous betfair withdrawals. But whatever.
Sent them some bank account screenshots
- we need more
sent them more
- we want more
sent them every single page of the bank account
- We are ok, we will contact you if needed, but in the meanwhile, here you have a 150€ daily deposit as maximum
one month later when I was betting, bam, account closed in the middle of a match, contacted priority because wtf and "oh, the international team and CDD slept on this", you they didn't do anything and just close the account without any info, like wth?
No worries, we will contact you in 72 hours. A week passed, nothing, I contact them again "oh, they must forgot, we will send them a reminder", another week with no info, third week this one, nothing at all, just desperate writing to Peter, what a disaster they are creating, my god.
It is my worst nightmare Betfair closing down my account. Ladbrokes closed down my exchange account for nothing and wouldn’t even discuss it. It was in profit. A few years ago, I suspended my Betdaq account for 6 months because I was losing money and because the liquidity was so poor I was closing trades at larger than expected odds. After 6 months I asked them to re-open it and they refused. Banned for life.
From my experience, and this obviously only applies to me, never use the 'Player Protection' options as they will all hold it against you and you'll never get back on their platforms. Gambling firms are paranoid of being closed down because one or two people get in over their head and kill themselves, but the pubs remain open all day and night. The world is moving towards a dictatorship style of governance and resistance is futile. These people who make these decisions are morons.
On another point, any chance of getting a spell check in the forum.
From my experience, and this obviously only applies to me, never use the 'Player Protection' options as they will all hold it against you and you'll never get back on their platforms. Gambling firms are paranoid of being closed down because one or two people get in over their head and kill themselves, but the pubs remain open all day and night. The world is moving towards a dictatorship style of governance and resistance is futile. These people who make these decisions are morons.
On another point, any chance of getting a spell check in the forum.
- ShaunWhite
- Posts: 9731
- Joined: Sat Sep 03, 2016 3:42 am
There’s more to this than meets the eye as Betfair's recent experience in the Netherlands has shown.
They bent the governmental guidance, got their wrists slapped and now have to wait a year to get their new licence now the exchange regs have been relaxed. These gambling firms have to keep the regulators sweet rather than pleasing a few customers, it obviously doesn't suit them or anyone but that's the bigger game they have to play. It just takes one civil servent to say they haven't tried hard enough and it's bye-bye licence.
The Exchange is a completely different model to the Sportsbook.
One way around this (which may be a pain or even impossible to administer) is for people to deposit or withdraw money to an Exchange account/wallet within Betfair, rather than a BF account as a whole. This would seperate traders from punters and would stop some of the nonsense currently going on
One way around this (which may be a pain or even impossible to administer) is for people to deposit or withdraw money to an Exchange account/wallet within Betfair, rather than a BF account as a whole. This would seperate traders from punters and would stop some of the nonsense currently going on
The model has nothing to do with it; no-one with political power cares whether Joe Bloggs spaffed his mortgage on a dodgy bookie site or on a reputable exchange, and no-one cares whether he's a 'gambler' or a 'trader'. This forum is littered with posters over the years who either can't/couldn't make trading pay or quietly disappeared. So the distinction between 'gambler' and 'trader' is irrelevant. You can lose money either way, so no-one cares what platform/model was used. Everyone's in the firing line.
The overriding issue is all betting companies being obliged to publicly demonstrate that they're dealing with out of control gamblers before restrictive legislation is imposed (which it will be fairly soon, imo). And all sorts of people are being caught in the crossfire - justifiably or not.
In any case, there's zero chance of public or political perceptions being changed given that the exchange model has been going for over 2 decades and still hardly anyone seems to understand it.
The overriding issue is all betting companies being obliged to publicly demonstrate that they're dealing with out of control gamblers before restrictive legislation is imposed (which it will be fairly soon, imo). And all sorts of people are being caught in the crossfire - justifiably or not.
In any case, there's zero chance of public or political perceptions being changed given that the exchange model has been going for over 2 decades and still hardly anyone seems to understand it.
i know it's been mentioned before in this thread but will resurface it again. using platforms such as Binance, Coinbase, KuCoin etc allow you to spew far more money away in a day than Betfair does. however, the legislation around *investing* is hugely different and all that's in place is a basic KYC. that said, i personally make more use of binance these days than I do betfair, many of the lessons learnt on pre-racing coming in pretty useful for trading trending intra-day stuff (almost EVERYTHING moves when BTC moves).weemac wrote: ↑Wed Oct 06, 2021 4:13 pmThe model has nothing to do with it; no-one with political power cares whether Joe Bloggs spaffed his mortgage on a dodgy bookie site or on a reputable exchange, and no-one cares whether he's a 'gambler' or a 'trader'. This forum is littered with posters over the years who either can't/couldn't make trading pay or quietly disappeared. So the distinction between 'gambler' and 'trader' is irrelevant. You can lose money either way, so no-one cares what platform/model was used. Everyone's in the firing line.
The overriding issue is all betting companies being obliged to publicly demonstrate that they're dealing with out of control gamblers before restrictive legislation is imposed (which it will be fairly soon, imo). And all sorts of people are being caught in the crossfire - justifiably or not.
In any case, there's zero chance of public or political perceptions being changed given that the exchange model has been going for over 2 decades and still hardly anyone seems to understand it.
maybe there's a niche to be carved out for a crypto angel. although there are offerings in the space, none have the kind of usability features that BA has. I've resorted to using a binance api in a very basic way. so Peter, any thoughts?? it is after all just another streaming data service!!