'Concern' email from Betfair

[ANGELS15]

Hi all just thought I'd share a recent experience. For a number of years my betfair balance has tended to be in the low to mid hundreds. Recently I deposited 2k into my account as I now feel confident about certain trading strategies and feel ready to increase my stakes. we're not talking mega bucks. say trading £40 instead of £10. Anyway I got an email from betfair saying they've noticed I've deposited more than usual. Since the £2k I've made a few more deposits between £300 and £200 and again got a couple more concern emails also mentioning 'player protection' and self exclusion. I appreciate their alertness however in the past I have had 4 figure balances and even on occasions when my balance was in the hundreds managed to build it up to 4 figures. I just wondered if anyone else had had this experience and the outcome. I just hope they don't do something stupid and close my account just as I'm getting my strategies together. I'm reluctant to email them back as I find their level of customer service and awareness of how the exchange can be used poor.

[LeTiss]

Are they restricting your betting/trading?

If not, I wouldn't be too concerned, as I believe they are adhering to more stringent rules on problem gambling.

Also, there's a danger you may have been flagged as a money launderer or fraudster, where you've been betting in nominal amounts for years, but then suddenly start operating in larger sums

[ANGELS15]

They haven't restricted me. I must admit I wondered if it was to do with concerns re fraud or money laundering or perhaps they think I've been given money by someone else to trade etc.

[ANGELS15]

Oh I remember the wording is exactly the same each time so it's possibly an automated email although it looks like it's possible to reply to it.

[threedogs]

Just as an aside you mention trading £40 with bank of £2000 whn you can trade £40 with a bank of £40 ..why so ? ..

[Kai]

You can ask them on Twitter (@BetfairCS) about the emails if you want an instant reply.

Or you can just copy and paste the automated message here so that people know what you're talking about.

[ANGELS15]

I do a lot of in running trades that I set up in advance. they don't all succeed but a fair percentage do. so I may set up £400 worth of trades and may make a profit of say £100 but may break even the next day or slight loss etc hence the need for a reasonable size bank.

[ANGELS15]

I'm reluctant to copy and paste it just in case it's specific and there are betfair people on here. At the end of the day if they need me to prove the money is mine that wouldn't be a problem.

[ANGELS15]

These few answers have given me some food for thought perhaps the simpler solution is to work with a smaller bank on betfair and keep the rest in my account untill needed.

[SeaHorseRacing]

Give betfair a call. Maybe your liability is too low.

Haven’t done so in a long time but your maximum liability maybe set really low. Give them a call and raise it.

[spreadbetting]

I wouldn't worry about it, I'd imagine they're just paying lip service to GamCare with some automated emails for people depositing a certain percentage over their normal deposits. The last thing they'd want to do is shut your account. Contact Betfair direct if you're really worried about it but the customer services reps you'll most likely get thru to are useless and will probably confuse you more.

[ANGELS15]

Thanks for the replies thoughts. I just had a question for SeaHorseRacing.... my liability may be too low? Please explain. Is it something to do with the maximum exposure limit of £5k which most people have as standard?

[ANGELS15]

Actually I don't mind anyone explaining the bit about the possibility that my liability might be too low. like comments above I'd rather ask people on here than betfair customer service.

[wearthefoxhat]

Every betfair account deposit limit protection. Can be edited easily enough if you want to deposit £20k next time. (after a 7 day period)

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[Derek27]

I think SHR was referring to 'exposure limit', by default it's £5000.

Your deposit limit by default is unlimited.