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

[jamesedwards]

In other news I learnt this week that Dermot Desmond has triggered a buy out clause for Betdaq so that's going to break out of it's current owner, Entain group and become independent again. Will take a little while to decouple but once again they will be independent. So here is hoping they use that opportunity.

Great news!

[aperson]

It's the stupidity of this that gets my goat. You can sort of understand trying to protect people who can't help themselves, but the worst one I've seen so far is somebody who was £900k in lifetime profit. It's like they have a total moron in charge of compliance. It beggars belief.

What happened in this case? Did they get their account back?

[napshnap]

Don't worry, guys! You can always download some crappy app for dummies to trade the financial markets, cause, you know... you're not a gambler - you're an investor!

And you know what is another funny thing? Even facing devastation of their exchange BF will never take away its precious premium charges! It's like a captain who will drown last along with the ship!

[Kai]

So moral of the story is to keep extra funds in accounts then?

I preferred not to risk anything either and this deposits nonsense hurt my EURO quite a bit, ended up not having enough funds for everything I wanted, trading bank was woefully inadequate.

[jamesedwards]

So moral of the story is to keep extra funds in accounts then?

I preferred not to risk anything either and this deposits nonsense hurt my EURO quite a bit, ended up not having enough funds for everything I wanted, trading bank was woefully inadequate.

Yes, the net result is an enormous bank in BF with all the added risk and opportunity cost that comes with it.

[MobiusGrey]

Is there anything to stop Betfair or another exchange from pulling away from the sportsbook type market and online casinos and creating a new type of exchange, much the same as is in existance now but rather than its regulatory body being the GC it instead positions itself under the FCA?

I've long held an account with IG Index, I sell/buy options and a couple of years ago there was a bit of a crackdown on high leveraged products. Other than that, that's about it. The other week I deposited a further £2000 to take advantage of the current low volatility, once you have passed the initial checks by the broker you're free to do what you want, I could blow up my account tomorrow and it's fine.

This is obviously spreadbetting, as said under the FCA. There is a bid and an ask and the broker takes their commission from the spread, the difference between the two.

There really isn't a lot of difference between a betting exchange and spreadbetting, they even look the same products



Surely some savvy entrepreneur can create a sports betting exchange that is effectively spreadbetting and position themselves under the FCA, just don't offer any other products?

[ANGELS15]

In other news I learnt this week that Dermot Desmond has triggered a buy out clause for Betdaq so that's going to break out of it's current owner, Entain group and become independent again. Will take a little while to decouple but once again they will be independent. So here is hoping they use that opportunity.

We'd better not hold our breaths. In all the time Betdaq has been going they've done very little to improve their exchange. Their mobile app is absolutely diabolical. We would still have the problem of ingnorance and lack of awareness of exchanges among the new generation of punters.

Perhaps some kind of information, experience, exposure about trading through Youtube/social media may raise awareness of trading. Trouble is even if it were to catch on the authorities would scrutinise it and look into ways of limiting it so as to make it virtually useless.

[zippus]

In other news I learnt this week that Dermot Desmond has triggered a buy out clause for Betdaq so that's going to break out of it's current owner, Entain group and become independent again. Will take a little while to decouple but once again they will be independent. So here is hoping they use that opportunity.

I’d happily switch to BETDAQ if BA had the same functionality as it has for Betfair. I’d willingly pay a similar subscription to help fund its development.

[Euler]

Why don't we try and drive the agenda a bit then with Betdaq. It will take a probably six months to uncouple but I'm sure they would be happy to take on board some views, more than Betfair for sure.

[MobiusGrey]

In other news I learnt this week that Dermot Desmond has triggered a buy out clause for Betdaq so that's going to break out of it's current owner, Entain group and become independent again. Will take a little while to decouple but once again they will be independent. So here is hoping they use that opportunity.

I’d happily switch to BETDAQ if BA had the same functionality as it has for Betfair. I’d willingly pay a similar subscription to help fund its development.

Echo this, I use BA for BD 7 days a week for the dutching function. Love it, would happily pay a subscription similar to BA for BF just to have the auto bet placement function if the book % reaches a certain level.

[banana_man]

I would also like to see BA Betdaq get some love and would happily pay for it. I responded to a Betdaq survey a while back saying they should work more closely with software creators like Bet Angel but I'm not sure if anything came of it.

[weemac]

I do almost nothing with Betdaq but, like others, I'd turn over quite a lot with them if BA for BD had the same functionality as BA for BF now does.

[lotora]

I do almost nothing with Betdaq but, like others, I'd turn over quite a lot with them if BA for BD had the same functionality as BA for BF now does.

Same here

[jamesedwards]

I've often wondered why Betdaq do so many 0% commission offers? Do they make money somehow out of customer groups who aren't on 'normal' commission? Or is it just to try and grow liquidity or what?

[Naffman]

Just had a look on 'player protection' and it does now say - Current Budget: £100 per month and "This is a budget applied by us for all our customers" and "to change it you'll need to provide some information"

So my guess is everyone is now on it and until you can prove you have a 'proper' job with payslips etc then it will stay at that level