Betfair Account Restrictions & closed accounts - Getting them removed and accounts reopened

News, chat and debate about the Betfair betting exchange.
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goat68
Posts: 2019
Joined: Tue Jun 30, 2020 3:53 pm
Location: Hampshire, UK

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"
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ShaunWhite
Posts: 9731
Joined: Sat Sep 03, 2016 3:42 am

jimibt wrote:
Fri Sep 24, 2021 10:17 am
expect a robust response from shaun :D
I might have if I could be bothered to read it.
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Kai
Posts: 6092
Joined: Tue Jan 20, 2015 12:21 pm

RyanWolf wrote:
Fri Aug 27, 2021 10:15 pm
Anyway where this world is heading to really?
Towards a dystopian future. Sorry for the spoiler! :lol:

But it's fine, those that don't like it can pack up and move in with Elon Musk on Mars :) Should be plenty of space and a decent Starlink internet connection.
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jamesedwards
Posts: 2234
Joined: Wed Nov 21, 2018 6:16 pm

Kai wrote:
Fri Sep 24, 2021 2:58 pm

But it's fine, those that don't like it can pack up and move in with Elon Musk on Mars :) Should be plenty of space and a decent Starlink internet connection.
There's a plan!
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LeTiss
Posts: 5386
Joined: Fri May 08, 2009 6:04 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
libor88
Posts: 21
Joined: Mon Sep 11, 2017 8:51 am

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
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Derek27
Posts: 23477
Joined: Wed Aug 30, 2017 11:44 am
Location: UK

libor88 wrote:
Sat Sep 25, 2021 4:41 pm
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
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. :) )
Whopper
Posts: 12
Joined: Wed Apr 22, 2009 3:26 pm

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.
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xtrader16
Posts: 411
Joined: Sun Feb 26, 2017 1:00 pm

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.
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ShaunWhite
Posts: 9731
Joined: Sat Sep 03, 2016 3:42 am

xtrader16 wrote:
Wed Oct 06, 2021 12:09 pm
. These people who make these decisions are morons.
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.
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Euler
Posts: 24701
Joined: Wed Nov 10, 2010 1:39 pm
Location: Bet Angel HQ

Isn't there a perception issue here though that needs to be addressed. This isn't a dodgy overround bookmaker it's an exchange. Whole different model and Betfair are not doing a good job of representing that.
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LeTiss
Posts: 5386
Joined: Fri May 08, 2009 6:04 pm

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
weemac
Posts: 1216
Joined: Mon Sep 16, 2013 8:16 pm

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.
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jimibt
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Location: Narnia

weemac wrote:
Wed Oct 06, 2021 4:13 pm
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.
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).

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!! :D
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Euler
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Joined: Wed Nov 10, 2010 1:39 pm
Location: Bet Angel HQ

Interesting idea
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