Lets say if someone is very good at backing horses and they have insider knowledge.
If the back and consistently win hundreds a week and make thousands of pounds a month
Can betfair restrict your account to betting on a horse for just 20pence?
I heard it wont due to the fact it takes commission and if word spreads out it would dent their reputation.
I know high street bookies can ban or dramatically restrict your account if you won hundreds a week, week in, week out.
Thank you
Can betfair restrict punters to bet pennies if they win consistently?
betfair operate a completely different model to the bookies. bookies assume liability for all back bets and have no official means to offset these by laying them (a topic for another thread!!). however, in the case of betfair, they don't give a monkies as all bets are between opposing parties on the EXCHANGE. betfair only take commission on succesful backs/lays from this model.
I'm not sure where you heard the rumour about betfair restricting accounts in the same way as the bookies, it just doesn't happen. However, betfair are VERY strong on money laundering and oftentimes you'll hear of accounts being closed down without notice despite success yada yada. the algo to identify fraud/money laundering is of course a well kept secret at BF, so you won't hear many folks shouting about it.
In short, under normal circumstances, your account will not be closed for being one of lifes winners!
I'm not sure where you heard the rumour about betfair restricting accounts in the same way as the bookies, it just doesn't happen. However, betfair are VERY strong on money laundering and oftentimes you'll hear of accounts being closed down without notice despite success yada yada. the algo to identify fraud/money laundering is of course a well kept secret at BF, so you won't hear many folks shouting about it.
In short, under normal circumstances, your account will not be closed for being one of lifes winners!
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northbound
- Posts: 737
- Joined: Mon Mar 20, 2017 11:22 pm
Betfair Sportsbook will restrict you, as it's just another bookie.
Betfair Exchange will not restrict you, because you're betting against other people and Betfair Exchange takes a small commission on every market from people who profited from that market.
It's important you know this distinction and, when you go to Betfair.com, use the Exchange instead of the Sportsbook.
Betfair Exchange will not restrict you, because you're betting against other people and Betfair Exchange takes a small commission on every market from people who profited from that market.
It's important you know this distinction and, when you go to Betfair.com, use the Exchange instead of the Sportsbook.
Just my humble tuppence worth!
Theoretically Betfair shouldn't really care if you're profitable backing on the exchange as firstly like you've pointed out they charge commision and also due to the fact that it's not their money that you're winning.
I think the 'problem' comes about more with the laying side if Betfair suspect that connections of a horse are deliberately running it to lose so they can profit. Even fancied horses lose but in certain cases stewards may look closely at a race and how they thought the horse was ridden. They look at 'suspicious betting patterns' which would involve liasing with the jockey club, the big bookies and exchanges.
In fairness though it is accepted that connections of horses are likely to get information not in the public domain. This has always been the case. There are betting professionals who have access to stable information and make their living that way. They're not doing anything fraudulent or illegal just have an edge in getting maybe better prices ahead of the general public.
A classic case of this although admittedly before exchanges came along, in the 90s there was a horse called Alderbrook. Alderbrook a former flat runner was taking to hurdling and being aimed at the Champion Hurdle. At one stage about 6 months before Cheltenham it was available at 50/1. By the time of the race it was around 6/1, the 50/1 having been snapped up long before. Alderbrook won quite nicely.
Theoretically Betfair shouldn't really care if you're profitable backing on the exchange as firstly like you've pointed out they charge commision and also due to the fact that it's not their money that you're winning.
I think the 'problem' comes about more with the laying side if Betfair suspect that connections of a horse are deliberately running it to lose so they can profit. Even fancied horses lose but in certain cases stewards may look closely at a race and how they thought the horse was ridden. They look at 'suspicious betting patterns' which would involve liasing with the jockey club, the big bookies and exchanges.
In fairness though it is accepted that connections of horses are likely to get information not in the public domain. This has always been the case. There are betting professionals who have access to stable information and make their living that way. They're not doing anything fraudulent or illegal just have an edge in getting maybe better prices ahead of the general public.
A classic case of this although admittedly before exchanges came along, in the 90s there was a horse called Alderbrook. Alderbrook a former flat runner was taking to hurdling and being aimed at the Champion Hurdle. At one stage about 6 months before Cheltenham it was available at 50/1. By the time of the race it was around 6/1, the 50/1 having been snapped up long before. Alderbrook won quite nicely.
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Nero Tulip
- Posts: 708
- Joined: Wed Apr 15, 2009 5:29 pm
They can ban you at their discretion for anything, but in terms of winning consistently, they are friendly to winners in virtually all circumstances, and the very good reason for that is...
If you win consistently, they just bring you under their umbrella and charge you 40-60% commission rates (said slightly facetiously).
I think an important group of users was highlighted - insiders, personally I think these should be treated as a separate issue. Most (?) PC payers are NOT insiders... but is the PC a suitable way of charging these types? I think it's potentially a nasty conflict of interests. I really hope that Betfair do not view (and act lazily in response to) these users as essentially agents working for them - it's a serious issue, and it's why the way the PC is structured is a problem.
I didn't want to turn it into a PC thread, but thought it worth saying as you mentioned insiders and you asked what they do if you win consistently - they charge you more. What should be apparently with PC, is it's about how you win, and that's not particularly effective for some of us pc payers who take sizable risks (consistency of wins is not consistent enough), nor insiders who do a good job of obscuring their hot runners with a lot of random stuff.
Perhaps I've come across too harsh and/or unrealistic when it comes to insiders there, it has (and will) gone on forever, and stopping the flow of information to connections of runners is hardly realistic. Betfair has democratized the info, made it arguably more visible, enabled faster aggregation of it... but I think all opportunities to push against it are important, it all leaks money away (most of the time) from the real important liquidity of the exchange - casual users.
If you win consistently, they just bring you under their umbrella and charge you 40-60% commission rates (said slightly facetiously).
I think an important group of users was highlighted - insiders, personally I think these should be treated as a separate issue. Most (?) PC payers are NOT insiders... but is the PC a suitable way of charging these types? I think it's potentially a nasty conflict of interests. I really hope that Betfair do not view (and act lazily in response to) these users as essentially agents working for them - it's a serious issue, and it's why the way the PC is structured is a problem.
I didn't want to turn it into a PC thread, but thought it worth saying as you mentioned insiders and you asked what they do if you win consistently - they charge you more. What should be apparently with PC, is it's about how you win, and that's not particularly effective for some of us pc payers who take sizable risks (consistency of wins is not consistent enough), nor insiders who do a good job of obscuring their hot runners with a lot of random stuff.
Perhaps I've come across too harsh and/or unrealistic when it comes to insiders there, it has (and will) gone on forever, and stopping the flow of information to connections of runners is hardly realistic. Betfair has democratized the info, made it arguably more visible, enabled faster aggregation of it... but I think all opportunities to push against it are important, it all leaks money away (most of the time) from the real important liquidity of the exchange - casual users.
i had my account banned at betfair for no reason i can think of at all. must have been unlucky and something triggered something but it seems very unfair as i hadnt done anything wrong, wasnt even that succesful. Now have to find another exchange.. 
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spreadbetting
- Posts: 3140
- Joined: Sun Jan 31, 2010 8:06 pm
Maybe if you took the time to ask them rather than continually posting you don't know why they banned you, just an idea
Did you ask why? They either had a reason or it was an admin error.
sorry I have messaged them to no response - was only posting again due to the question being about restricting of accountsspreadbetting wrote: ↑Tue Oct 15, 2019 3:29 pmMaybe if you took the time to ask them rather than continually posting you don't know why they banned you, just an idea
