I can't comment specifically on affordability, but a sort of loss limit based on net winnings probably does stop people losing too much.
The big issue I have in seeing these things implemented is that it doesn't take account of the underlying activity.
Pissing away £5k a month on slots is a bit different from trading or arbing against bookies. It's a big flaw with loss limits.
Betfair Account Restrictions & closed accounts - Getting them removed and accounts reopened
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Grinderman
- Posts: 94
- Joined: Sun Mar 08, 2015 2:44 pm
If you look at what I pasted in above from FAQ, it says we all have one. I suspect we may not. Below is what I have pasted in from my Player Protection tab.
Note, I am a net winner to quite a few grand. Not a losing punter.
Your Budget
This is a budget applied by us for all our customers. Budgets are based on your net deposit position. This means that depositing will reduce your budget, and withdrawing will increase it. To change your budget, you'll need to get in touch and provide some information.
Current budget:
£1,000 per month
£0 remaining
Note, I am a net winner to quite a few grand. Not a losing punter.
Your Budget
This is a budget applied by us for all our customers. Budgets are based on your net deposit position. This means that depositing will reduce your budget, and withdrawing will increase it. To change your budget, you'll need to get in touch and provide some information.
Current budget:
£1,000 per month
£0 remaining
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jamesedwards
- Posts: 2316
- Joined: Wed Nov 21, 2018 6:16 pm
These days my personal experience suggests everyone has a suite of limits they can control and also a hidden set of limits controlled by the company. Whichever limit is lower will be the limit that kicks in if a threshold is reached.
Not only is this frustrating as customers trade without sight of these limits, some companies are alreqdy starting to leverage these restrictions to their own advantage. I joined a site last week and made a substantial deposit, only to find my account immediately restricted to a maximum wager of £10 exposure per market. When I tried to withdraw my deposit I was told the small print said I had to turn my initial deposit three times before I could withdraw. I'm stuck playing through hundreds of markets at £10 a pop just to get my money back out.
Would you like to share the name of the company so no one else falls into the trap, and was rhe small print available before you deposited?jamesedwards wrote: ↑Mon Jun 14, 2021 7:22 pmThese days my personal experience suggests everyone has a suite of limits they can control and also a hidden set of limits controlled by the company. Whichever limit is lower will be the limit that kicks in if a threshold is reached.
Not only is this frustrating as customers trade without sight of these limits, some companies are alreqdy starting to leverage these restrictions to their own advantage. I joined a site last week and made a substantial deposit, only to find my account immediately restricted to a maximum wager of £10 exposure per market. When I tried to withdraw my deposit I was told the small print said I had to turn my initial deposit three times before I could withdraw. I'm stuck playing through hundreds of markets at £10 a pop just to get my money back out.
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ShaunWhite
- Posts: 9731
- Joined: Sat Sep 03, 2016 3:42 am
That can't be right! 3x to get any bonus maybe but surely not to just pull your own money. Who was it?jamesedwards wrote: ↑Mon Jun 14, 2021 7:22 pmI joined a site last week and made a substantial deposit, only to find my account immediately restricted to a maximum wager of £10 exposure per market. When I tried to withdraw my deposit I was told the small print said I had to turn my initial deposit three times before I could withdraw.
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jamesedwards
- Posts: 2316
- Joined: Wed Nov 21, 2018 6:16 pm
It was a c-grade site and one I'd not heard of until recently. Will let you know the name once (if ever) I actually manage to get my money back. Proving difficult as it as and don't want to add to the risk.
It does clearly state in the (expansive) Ts and Cs that the site reserves the right to restrict stake and/or markets available at any time and in a separate section that any deposit must be traded through at least 3x. In theory therefore if you combine the two there's nothing to stop them denying you access to any markets and keeping the cash forever! I expect the Ts and Cs were available prior to deposit but who actually ever wades through them all? It seems these days you actually do have to though, or risk getting burnt.
It does clearly state in the (expansive) Ts and Cs that the site reserves the right to restrict stake and/or markets available at any time and in a separate section that any deposit must be traded through at least 3x. In theory therefore if you combine the two there's nothing to stop them denying you access to any markets and keeping the cash forever! I expect the Ts and Cs were available prior to deposit but who actually ever wades through them all? It seems these days you actually do have to though, or risk getting burnt.
You'd think they could show some common sense, given RA is about to start.
Hope you get it sorted out quickly and in time
WTF!Naffman wrote: ↑Tue Jun 15, 2021 12:36 pmJust on with them now, sounds as though the GC has put some controls over them, £100 deposit for everyone now it seems
Even if you can jump through the affordability hoops or offer a good reason like you want to bet a large amount on a major event?
Thats sounds like a death nail if they pursue that course!