Banned from Betfair for placing bets under £2
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pdupre1961
- Posts: 410
- Joined: Fri Feb 18, 2011 8:01 pm
Does anybody know of any one who has been banned from Betfair for continually placing bets under £2.00
Alpha322 wrote:haichless wrote:I dont like simulation/practice mode its not a true reflection, so I test with small stakes, have done that now for 7 years continually with no problem.
So its a mystery to me.
been trading 3 years what i use would throw you off your seat -
pdupre1961
- Posts: 410
- Joined: Fri Feb 18, 2011 8:01 pm
Somebody asked for a list of winners. I have a bot that provides the data, immediately after each race. However, I would want to let anyone else have it as it works with the FREE API.
So, I suggested they place a 1p bet on every horse in every race to get their answer....
Do you think that would be a problem?
So, I suggested they place a 1p bet on every horse in every race to get their answer....
Do you think that would be a problem?
I don't think there is any problem collecting data from either of the exchanges as long as you follow a couple of simple rules.
It costs them money to service your account. (I had this "explained" to me by my account manager when the higher rate PC came in). Requesting data without placing bets is a no no.
If you are merely collecting results after the event the amount of calls you make should be very low. If you are requesting a large amount of data without giving them something back you should expect to be shut down.
I really cannot understand why there is a need to place bets under £2 unless you are hedging. If you are testing something use the practice version. If you can't afford to lose £2 best give up now, you will be doing yourself a favour. I read a book back in the 90's by Mark Cotton called "Value Betting". Mark is the original Pricewise columnist. The book is a brilliant account of how he selected the horses for the Pricewise column in the RP. He also included a list of do's and dont's for people who were serious about betting. One of them has stayed with me throughout my punting lifetime. It goes something like this....
"When you place a bet make it count. If it wins it should be an amount that will have a positive effect on your life. If it loses it should hurt you. This will ensure you think twice before placing the bet"
The gist of it is if it doesn't matter you decision making process is flawed. Apply this to your ladder trading. How many times have you stuck in a few quid in a carefree manner. If it loses it's only a few quid. But if you are right you only win a few quid. Now instead of a few quid try it with £500. Everything changes. The way the market behaves to your money, your sphincter muscle, your exit point.
My longwinded point is this. If your betting with pennies none of it matters either way. Even when you try to scale up the stakes it all changes. I am sure there will be plenty of support for my argument and plenty against it.
It costs them money to service your account. (I had this "explained" to me by my account manager when the higher rate PC came in). Requesting data without placing bets is a no no.
If you are merely collecting results after the event the amount of calls you make should be very low. If you are requesting a large amount of data without giving them something back you should expect to be shut down.
I really cannot understand why there is a need to place bets under £2 unless you are hedging. If you are testing something use the practice version. If you can't afford to lose £2 best give up now, you will be doing yourself a favour. I read a book back in the 90's by Mark Cotton called "Value Betting". Mark is the original Pricewise columnist. The book is a brilliant account of how he selected the horses for the Pricewise column in the RP. He also included a list of do's and dont's for people who were serious about betting. One of them has stayed with me throughout my punting lifetime. It goes something like this....
"When you place a bet make it count. If it wins it should be an amount that will have a positive effect on your life. If it loses it should hurt you. This will ensure you think twice before placing the bet"
The gist of it is if it doesn't matter you decision making process is flawed. Apply this to your ladder trading. How many times have you stuck in a few quid in a carefree manner. If it loses it's only a few quid. But if you are right you only win a few quid. Now instead of a few quid try it with £500. Everything changes. The way the market behaves to your money, your sphincter muscle, your exit point.
My longwinded point is this. If your betting with pennies none of it matters either way. Even when you try to scale up the stakes it all changes. I am sure there will be plenty of support for my argument and plenty against it.
Reminds of a documentary I once saw about some army training, I think it was the para's. They started by having the recruits run along a 6 inch wide wooden beam lying on the ground, no problem for anyone. Then they hoisted the same beam 20 feet off the ground between scaffold towers and it became a different story....mugsgame wrote:The gist of it is if it doesn't matter you decision making process is flawed. Apply this to your ladder trading. How many times have you stuck in a few quid in a carefree manner. If it loses it's only a few quid. But if you are right you only win a few quid. Now instead of a few quid try it with £500. Everything changes. The way the market behaves to your money, your sphincter muscle, your exit point.
Yes, but I have no idea what the limit is. If you generate a reasonable amount of commission for Betfair then they may overlook sub minimum betting in the general scheme of things but if you persistantly do it, your account will get flagged up.pdupre1961 wrote:Does anybody know of any one who has been banned from Betfair for continually placing bets under £2.00
Betfair consider a sub minimum bet a cost to their business.
