Account suspended for premium charge avoidance
Sounds like they've set some obsered criteria... playing with their trainset again no dobt! as you said it should find its way into the press soon although their seems a distinct lack of interest from the sports media and it could do with a shove from the right person. Look forward to future anouncements
Chuck
Chuck
OK guys, Betfair are still dragging their heels on specifics I have asked for. I have asked for the clarification on wording and current terms and conditions on their site for the benefit of everybody and to clarify exactly what Betfair's exact policy is. But here is a top level view of why they suspended my accounts.
Basically they want to link my wife's account to mine for the purposes of calculating the premium charge. My wife has an account which is in profit but it's a tiny tiny fraction of my lifetime profitability. Basically it looks like they want to apply the £250k limit on a broader basis. Essentially they want to stop me using my wife's account or her using my knowledge or instruction to profit.
Basically they want to link my wife's account to mine for the purposes of calculating the premium charge. My wife has an account which is in profit but it's a tiny tiny fraction of my lifetime profitability. Basically it looks like they want to apply the £250k limit on a broader basis. Essentially they want to stop me using my wife's account or her using my knowledge or instruction to profit.
That just about sums their greed up, they want to exhaust all possible avenues for people to even remotely be thinking about trying to evade the premuim charge and will show their might when it comes to this issue by simply shutting down accounts at will.
I and everyone knows Peter will be cleaner than clean, and I suspect betfair know this as well, its just pure arrogance and abuse of a dominant position on betfairs part.
I and everyone knows Peter will be cleaner than clean, and I suspect betfair know this as well, its just pure arrogance and abuse of a dominant position on betfairs part.
Incredible!
Do I take it they have no proof that you have ever used your wife's account?
And how is Mrs Webb supposed to stop using your knowledge/instruction!?! Do they expect her to forget everything you've ever taught her about Betfair???
Jeff
Do I take it they have no proof that you have ever used your wife's account?
And how is Mrs Webb supposed to stop using your knowledge/instruction!?! Do they expect her to forget everything you've ever taught her about Betfair???
Jeff
Euler wrote: Basically it looks like they want to apply the £250k limit on a broader basis. Essentially they want to stop me using my wife's account or her using my knowledge or instruction to profit.
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andyfuller
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Just to be 100% clear, you have never used your wifes account yourself I assume?Euler wrote:Essentially they want to stop me using my wife's account
And what did you have to do to prove the above to Betfair if anything?
It would be impossible to say I have never used it, I may have at some point it's been active for many years. But especially since the 18th we have deliberately kept all activity separate. Nothing dodgy going on either such as churning or swapping money between accounts. I guess it was the drop in activity on my account that made them suspend accounts, pending investigation.
They keep referring to the charge being applicable to an 'entity' and that is what I am waiting on them to clarify. What is an entity under their definition and what boundries does the word 'entity' have.
They keep referring to the charge being applicable to an 'entity' and that is what I am waiting on them to clarify. What is an entity under their definition and what boundries does the word 'entity' have.
If a husband and wife have two separate bank accounts, the bank can't act as if they have a joint account! But that seems to be what Betfair want to do!
Jeff
Jeff
Euler wrote: They keep referring to the charge being applicable to an 'entity' and that is what I am waiting on them to clarify. What is an entity under their definition and what boundries does the word 'entity' have.
I suspected it might be something like that.
They really are pushing things a bit too far. Every person should be allowed to have their own account and be allowed to use it as they wish. How can they link people's accounts just because one person gives another person a tip. Or how can they link people's accounts just because they live in the same address.
Like Jeff says, how exactly do they expect Mrs Webb to suddenly not use the knowledge that she's gained from you, and how can they even tell? Maybe it's you getting knowledge from her anyway
Yes, they really need to clarify what they mean by "entity" and have a clear definition, rather than use the term for whatever they decide at the time.
They really are pushing things a bit too far. Every person should be allowed to have their own account and be allowed to use it as they wish. How can they link people's accounts just because one person gives another person a tip. Or how can they link people's accounts just because they live in the same address.
Like Jeff says, how exactly do they expect Mrs Webb to suddenly not use the knowledge that she's gained from you, and how can they even tell? Maybe it's you getting knowledge from her anyway
Yes, they really need to clarify what they mean by "entity" and have a clear definition, rather than use the term for whatever they decide at the time.
A further response from Betfair: -
They say the charge has been applied because....
Anyhow, be careful everybody. Don't fall into the same trap as me.
They say the charge has been applied because....
I think there is a point of contention here though? If somebody deploys an activity or acts on your advice, is this really considered to fall into the same definition? If I had done something dodgy like swap money between accounts or similar then yes, slapped wrists for sure but I didn't.Any users that distribute their activity across multiple accounts in order to reduce the charges they should have paid will be investigated, suspended and contacted directly by our Fraud and Recoveries teams
Anyhow, be careful everybody. Don't fall into the same trap as me.