Account suspended for premium charge avoidance
Recent events have been catasphoric for Betfair. For some races yesterday there was hardly any money at all, to quote a user on the facebook 'Betfair Premium Charge Fiasco' page; 'They're going down the shitter quicker than a Brick lane curry'
it seems that if you're constantly in profit you do not have the right to lose. If you lose on bf it means to them that you are arbing between exchanges..Euler wrote:All speculation at the moment. I've offered to speak to them to help clarify any points or mis-understandings their may be on either side, but as they haven't taken that up I guess I will have to stew on it till early next week. If there is some new definition of avoidance then I think it would be worth some clarity from Betfair on what exactly that definition is.
I think big players are strictly monitored. It's their profit {a couple of grands p/w}.
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Newbie Trader
- Posts: 11
- Joined: Sat Jul 09, 2011 10:28 am
Having read through this thread I thinks its pretty obvious why Betfair have suspended Euler's account.
There is currently a thread on here entitled 'How to avoid the Betfair premium charge'. I know that Euler didnt start this thread but perhaps it was ill advised to allow it to continue and not to delete it.
From Betfair's point of view they probably feel within their rights to suspend someone's account who is responsible for a forum which has a thread like this within it.
I'm not saying what Betfair have done is right but like I said above I think it was ill advised to allow a thread like to this continue on here when it could so easily be connected to Euler.
There is currently a thread on here entitled 'How to avoid the Betfair premium charge'. I know that Euler didnt start this thread but perhaps it was ill advised to allow it to continue and not to delete it.
From Betfair's point of view they probably feel within their rights to suspend someone's account who is responsible for a forum which has a thread like this within it.
I'm not saying what Betfair have done is right but like I said above I think it was ill advised to allow a thread like to this continue on here when it could so easily be connected to Euler.
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cloud88111
- Posts: 36
- Joined: Wed Jun 15, 2011 8:56 am
I thought I wouldn't get into this until Tuesday when everything was resolved but if I was Betfair and I had just installed some huge PC I would wait for one of the high profile players to do something a bit odd (perhaps withdraw a big chunk of money or change their style). I would suspend their account as a message to the big players to not try and avoid it because they will stop you playing.
I was surprised to see this had happened and am very sorry for Peter but it was always on the cards from the day they put the charge up. The reason I was surprised (obviously assuming that I'm right and they are just making a statement) is you would normally see this from someone with no competitors like the police/judicial system or the other way round and the customer is making the statement.
If I'm right they would have watched Peter's account and waited for this but I don't imagine the rest of you have anything to worry about if you pay the right fees. That being said this is the perfect chance to move to Betdaq. Peter says he's meeting with them so no doubt change and improvements will be made, I've seen more adverts for Betdaq recently so liquidity will improve. Before long it could be Betfair with the gapped markets and poor in play opportunities.
I was surprised to see this had happened and am very sorry for Peter but it was always on the cards from the day they put the charge up. The reason I was surprised (obviously assuming that I'm right and they are just making a statement) is you would normally see this from someone with no competitors like the police/judicial system or the other way round and the customer is making the statement.
If I'm right they would have watched Peter's account and waited for this but I don't imagine the rest of you have anything to worry about if you pay the right fees. That being said this is the perfect chance to move to Betdaq. Peter says he's meeting with them so no doubt change and improvements will be made, I've seen more adverts for Betdaq recently so liquidity will improve. Before long it could be Betfair with the gapped markets and poor in play opportunities.
Premium tax avoidance is a bit like tax avoidance - as long as 'avoidance' doesn't become 'evasion', ie you act honestly and play by the rules of the game, I don't see the problem...
Betfair might not see it like that, but I doubt they'd be so petty as to close Peter's account in retribution. Betfair will act in the interests of the company - that is their obligation to their shareholders. So if they see Peter's account as an asset, they'll let him keep it, and if they see it as a liability, they'll probably find a reason to close it...
Jeff
Betfair might not see it like that, but I doubt they'd be so petty as to close Peter's account in retribution. Betfair will act in the interests of the company - that is their obligation to their shareholders. So if they see Peter's account as an asset, they'll let him keep it, and if they see it as a liability, they'll probably find a reason to close it...
Jeff
Newbie Trader wrote:Having read through this thread I thinks its pretty obvious why Betfair have suspended Euler's account.
There is currently a thread on here entitled 'How to avoid the Betfair premium charge'.
Hi Peter
Sorry to hear about your accounts
Sounds to me like they have a Mole in Betdaq.
Wouldn't be too hard to tell who was backing on Betfair and laying off on Betdaq would it.
To be honest I gave up on the corrupt entity that Betfair has become a long time ago.
If you went to work and were successful and athe end of the Month your boss said to you " Well done, you have had a great month. We are going to apply a reverse bonus this month and take 60% of you salary off you"
What would you do?
Of couse you would just say that's ok I will work harder next month to make it up
Like hell you would.
On that basis I cannot understand anyone using Betfair at all
Just my tuppence worth
Sorry to hear about your accounts
Sounds to me like they have a Mole in Betdaq.
Wouldn't be too hard to tell who was backing on Betfair and laying off on Betdaq would it.
To be honest I gave up on the corrupt entity that Betfair has become a long time ago.
If you went to work and were successful and athe end of the Month your boss said to you " Well done, you have had a great month. We are going to apply a reverse bonus this month and take 60% of you salary off you"
What would you do?
Of couse you would just say that's ok I will work harder next month to make it up
Like hell you would.
On that basis I cannot understand anyone using Betfair at all
Just my tuppence worth
Peter -
When you meet Betdaq, it might be an idea to ask them about their dealings with Betfair, and to request assurances that there is not, and never will be, any collusion that's contrary to the interests of their customers.
It might also be worth seeking assurances - preferably in writing - that they won't ever penalise customers for being successful.
Jeff
When you meet Betdaq, it might be an idea to ask them about their dealings with Betfair, and to request assurances that there is not, and never will be, any collusion that's contrary to the interests of their customers.
It might also be worth seeking assurances - preferably in writing - that they won't ever penalise customers for being successful.
Jeff
Dobbin wrote: Sounds to me like they have a Mole in Betdaq.
I think its highly unlikely there is a 'mole' working for betfair in betdaq 
Arbing between the two exchanges wont help anyway, what if the team you back on betfair wins and the team you back on daq loses? You end up paying more PC! What would you do then, double up?
And again once that one goes the wrong way?
Arbing between the two exchanges wont help anyway, what if the team you back on betfair wins and the team you back on daq loses? You end up paying more PC! What would you do then, double up?
And again once that one goes the wrong way? LOL who said anything about footballhgodden wrote:I think its highly unlikely there is a 'mole' working for betfair in betdaq
Arbing between the two exchanges wont help anyway, what if the team you back on betfair wins and the team you back on daq loses? You end up paying more PC! What would you do then, double up?
There are enough horse out there that have no chance of winning
You could of course have Layed O Ma Lad on Betfair and backed it on Betdaq
Dobbin
LOL
I am a positive kind of person so I leave the constant downside to others.
I have been making my living doing this for 10 years and always find the upside of things like Peter I was one of the first on Betfair and cannot believe how crap they are now.
Wouldn't take it from any other company and I won't take it from them. Moved months ago
Good Luck Peter and I hope you pull out all together.
More to like than suck it and see
Dobbin
I am a positive kind of person so I leave the constant downside to others.
I have been making my living doing this for 10 years and always find the upside of things like Peter I was one of the first on Betfair and cannot believe how crap they are now.
Wouldn't take it from any other company and I won't take it from them. Moved months ago
Good Luck Peter and I hope you pull out all together.
More to like than suck it and see
Dobbin
It's a good way of telling if Betfair are actually telling the truth or not on why they introduced the P.C in the first place .
They should be very happy in theory if you could somehow pull off Dobins approach and use Betdaq to avoide the P.C, There should be no need for moles
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.They should be very happy in theory if you could somehow pull off Dobins approach and use Betdaq to avoide the P.C, There should be no need for moles
.