Jean Delesse - Professional Betfair trader (scam)

[Dallas]

Also look at the markets all 5 of them losing 1.01 back bets where placed on, everyone was the Halftime / Fulltime market yet each time he was placing the bets there was less than 15mins before the game was over and market settled - backing a 1.01 outcome that could no longer happen against his waiting lays at 1.01

[LeTiss]

Yes that's the scam that was being highlighted before. Using somebody's account to place bets that were being matched on his own

He basically had a big bet on Celtic, that went wrong and scammed you for the rest

Betfair fraud department owe it to all their customers to investigate the trail you have given. They must be able to identify what accounts matched the 1.01 back bets

[bigfatwinner]

So what do you think he's doing? He thinks he makes more money doing the opposite on his account than making 28 per cent commission on mine? Nothing that he said on the chat showed that he had any brains!

[LeTiss]

I reckon the first bet was something he basically fancied. If Celtic had won by 2 goals, he'd probably have left it there for you to see, hoping your confidence in him would lead to you submitting shedloads of cash via neteller.

He obviously is an idiot, or thought you were an idiot, and overlooked his activity being exposed by you looking at it

Once that was gone, he chose not to try and win it back, he just took the rest for himself

[bigfatwinner]

So that's why he was begging for the 500gbp...so it could be matched on his account.

[LeTiss]

So that's why he was begging for the 500gbp...so it could be matched on his account.

Yes the scam is basically this Alan

He uses your account, whilst also using his own. If he places £2000 bets at 1.01 then those bets need to matched by someone. He chooses markets that have no liquidity at all - places lay bets on his accounts at 1.01, and then backs that price with your £2000. Ultimately, he pockets the money for himself when your back bet has lost.

It is basically absolute fraud, and it's a disgrace that Betfair are not investigating it

[bigfatwinner]

I reckon the first bet was something he basically fancied. If Celtic had won by 2 goals, he'd probably have left it there for you to see, hoping your confidence in him would lead to you submitting shedloads of cash via neteller.

He obviously is an idiot, or thought you were an idiot, and overlooked his activity being exposed by you looking at it

Once that was gone, he chose not to try and win it back, he just took the rest for himself

Well obviously I am a bit of an idiot lol. Actually I really not an expert on Betfair... Mostly I just place bets on things to happen and play online blackjack. I did watch the video of the guy explaining the Betfair scam but still went along with it, so yeah am a bit of an idiot. Only now I realize you can create any stupid bet you want and if someone takes it then the money is yours, so all you need to do is to get control of someone else's account and funds... So why are betting exchanges legal?! Surely that's just an easy vehicle for people to be scammed.

[bigfatwinner]

Thanks for explaining LeTiss. Great handle btw... I've got your 1995 Unbelievable video on VHS! Amazing goals with EMF soundtrack. Those were the days.

Well if betfair really wanted to investigate everything is here and they know it's not me that logged in... But why the **** would they? They make money both ways. They need the scammers.

[Samo154]

Surely the Celtic bet was one he thought would win so he had more money to match on himself? I'm shocked people fall for these randomers offering there holy grail out.

Credit to this thread for highlighting methods.

[shakespeare]

I met someone who used to work for Betfair and he told me that one way people take advantage of the free bets that Betfair gives (or used to give) new customers uses the same principle. Joe signs up as a new customer and gets a free bet from Betfair. He uses it to put an unmatched bet on some market that has no liquidity yet, making sure he picks an outcome that's sure to lose. His mate Fred then logs in using his own account and matches the bet. So Fred collects the cash when the bet is settled and the two friends split the money.

[bigfatwinner]

Dammit! A bit gutted now... I thought he made no money from me since I didn't send him thru Neteller, but looks like he made a couple of k from me! Well I guess it's lucky he didn't win on the Celtic game or actually double the 5k...since i probably would have given him 50k. But he knew we had more money, why disappear? Even if he deposited the imaginary 6700 balance we allegedly had on his account, I would have trusted him and deposit more. Can't understand why he's just happy with 2k. But I guess 2k from 50 victims is 100k...but I can't find 100 complaints about this guy online! Only the 800 euros on Twitter. If he's good then there must be more victims.

[shakespeare]

So why are betting exchanges legal?! Surely that's just an easy vehicle for people to be scammed.

More seriously, they offer opportunities for money laundering. If you're a criminal and you want to transfer money to an accomplice without making a direct transfer to him, then you arrange to match a bet with him, a bet that no one else is around to match, and make sure it's a losing bet for you. That is why Betfair have software that tries to detect that kind of thing.

[Samo154]

Out of interest why did u believe him? Were you after a quick fix/system? Have you tried trading before? Just curious

Sam

[ShaunWhite]

Out of interest why did u believe him? Were you after a quick fix/system? Have you tried trading before? Just curious

Sam

I thought that Sam, 5k to burn, another 50k to play with. This guy doesn't sound like he needs a get-rich-quick scheme. It's good of him to post the warning, but the greed on both sides of this story is verging on desperate.

As for Betfair/Money laundering, unlikely. You can move sums under 10k through banks easily, so Betfair is a bit of a waste of time for those. For sums above that BF will have to comply with the Treasury's anti money laundering laws; to risk their licence for a few quid in commission would be ludicrous. Besides launderers need to move many more zeros than you'll ever get matched in BF.

[bigfatwinner]

Out of interest why did u believe him? Were you after a quick fix/system? Have you tried trading before? Just curious

Sam

No. Never looking for a quick fix. No such thing. Was just curious about this scheme and for a bit of a gamble, it was only 5k and I didn't put it directly in his hands, my thinking was that I could only lose what would be in my Betfair account (which I haven't used for 10 years)...maybe what I would lose on a weekend playing poker or blackjack online or at a real casino. He was talking to my business partner for 8 months before we decided to have a go. We are in the private equity business trading Fx and Indices based in Asia, but sports trading we know nothing about. We have found some successful Fx money managers online to help our portfolio so sometimes it works, sometimes it doesn't, we're just businessmen trying to make money, albeit this was a little bit out of the box (!!) but that's what business is all about, some you win some you lose. When my business partner first mentioned Sports Trading I did say to him "no" it's gambling, no matter how much they spin it. And when Jean said he could double every month and never lose money, and only use 5% of the capital...it was already not too believable, but 5k is only 5k so we took a punt.

I know nothing about exchanging bets apart from what I have learnt from you guys, so thanks for the heads up. But with this Delesse guy I thought it would be like an Fx trader where he had his own bots and algorithms and scalping for 10 cents here and there and leave the bots running for the thousands of scalps. He said he was not a gambler and made his money before the game started. He said he had his own server with no downtime and zero lag, which is what we do with HFT...so I thought, mistakenly by a mile (!!) that some sophisticated hardware and software was at play....little did I know all he would do is place football bets and go to the casino, which I could do myself.

But yes, if he turned the 5k into 10k in a week we would have probably used some client funds between 50k to 100k and then he would have scammed us for that and I would have been in big trouble with my boss and clients! So it was lucky Celtic have a shitty manager like Brendan Rogers (I'm a LFC fan) who can't score more than two goals against a girls team.

This guy did try to win money at the beginning as you can see from the following screen.....he won the first few bets and it was up to 6k. But like most addicts he kept on going and lost it all, apart from what he might have made doing opposing bets on his accounts.

Live and learn, thanks for listening.