Account suspended for premium charge avoidance

[mugsgame]

Here's my two pennys worth on the subject.

Peter Webb is one of the most high profile exchange users around. I believe him to be a decent, honest and honourable man. I have had dealings with him on a professional level for 5 or 6 years as a BA user and course attendee.

His influence is wide reaching and highly respected within the trading community, he is so famous even the Geek has given him a nickname!
I could not even begin to add up the liquidity and new customers he has bought to Betfair, it must run into 100's of millions of pounds.

This is Betfair's 'Ratner" moment. I am sure this will make the national press. I sincerely hope Peter has the chance to have a nice shit in Betfairs pot before this sorry tale is over.

Like I keep saying, Betfair do not want the 500, even if they pay the PC.

I am disgusted. This really is the end for Betfair.

[Euler]

For offset has Betfair read avoid

Same account though, I am allowed to do things on the same account surely? Have been doing so for years. If I start betting value, that's exactly what they want isn't it? That's not avoiding at all, all I wanted to know was what % I ended on at the end of the week. Didn't expect over 60%

[Iron]

If I start betting value, that's exactly what they want isn't it?

If they are the bookmaker on the other side of the bet, not necessarily...

Jeff

[Westerner]

Totally gobsmacked by this.....what are they playing at...you have to think "will I be next?"

Hope everything works out.

[Iron]

Peter - Just read your latest blog tweet:

Betfair still haven't told me why but have promised to get back to me by Tuesday to let me know the outcome of their 'investigation'.

I take it they haven't told you what specifically they are investigating, or invited you to assist them in their investigations?

Jeff

[steven1976]

Agreed with Mugsgame, I dont think they really appreciate the millions that peter has brought into betfair indirectly and now hold it as a personal grudge against him for withdrawing his funds.

Im sure his comments if they reach the press could effect them signifcantly. Previously, the premium charges only immediately affect 500 top earners but its a different story when your average punter starts to understands betfair can and will close an account with your funds in it without no prior warning or explanation.

[Euler]

I have offered to speak to them on the phone to expedite their investigation and even offered to drive over to speak to whoever is 'investigating'. Neither offer has been taken up.

[hgodden]

Worth bearing in mind that this is all speculation at this point. It could just be a mistake. Betfair are bound to be looking to scrutinise the 500 at this time for any behaviour that they think might be to do with avoidance.

Not responding, while not exactly the most 'humane' way to go about dealing with the situation to say the least, may just be part of their procedures

[xitian]

I agree with Jeff and Nero.

I expect they have an automated process which flags accounts it "suspects" is avoiding PC. The automated rules are likely to include change in PC paid each week (which will have significantly dropped for Peter since he's been betting less on Betfair), and probably money available in account (as Peter mentioned he's withdrawn a lot of it).

Then, since they're such a monolith of a company now, the staff are probably instructed to follow a set of rules regardless of user. Which involves suspending the account to take a closer look. In this case it's clearly a mistake on their part. It really is poor that they suspend the account before having concrete evidence rather than the other way round.

Andy, I don't see arbing and straight betting specifically to offset the charge can be seen as a breach of rules. Those methods just happen to generate more commission than other betting methods, but they're still perfectly legitimate betting methods in their own right. I see "avoidance" as using two unlinked accounts, perhaps they think Peter is closing his current account and opened another in a new name. Or money transfer, perhaps they think Peter could be colluding with an unlinked account to transfer his money out. Neither of which I can see Peter ever doing.

So in my opinion it's just Betfair being anal in their search for avoiders and arrogant in the way they treat their customers. It brings concern to every user of Betfair. It's no surprise their share price continues to plummet.

[andyfuller]

Have you even been told what it is they are investigating? Do you even know if it is in fact to do with the PC?

I can just imagine this is the music the bot plays when it finds an account worth inspecting

http://www.youtube.com/watch?v=e-JHfXVlkik#t=0m4s

[Iron]

I somehow doubt they have the sort of detective skills that would give Columbo an inferiority complex!

Jeff

I can just imagine this is the music the bot plays when it finds an account worth inspecting

http://www.youtube.com/watch?v=e-JHfXVlkik#t=0m4s

[enzabella2009]

sorry to post here...#
How could this surprise you guys? the question was not IF but when It was going to happen..Many accounts will be closed or suspended in the next 30-60 days. AndyF If I were you I would clean my account before they do...Betdaq is your guys alternative..you have been claiming that for days so It`s time to say Betfair goodbye not just pretending..despite some claims, some of you have been heavily trading of betfair in the last 10 days...Betfair have signed a deal with bettingpromotion and they will do everything they can to get rid of big players end of the betfair story...I am going to holiday in few hours,I wanted just to wish you all the best. ...
Sorry to hear that peter but, I think you knew it was going to happen...good luck

[Euler]

To be fair to Betfair, I'm not going to post on the blog until the situation is clarified I told the press the same as well. It may be that I can't even comment then, but I think we should give them a chance. The frustration for me is that I am happy to take any questions on my accounts and can clarify anything for them but they seem reluctant to enter into open dialogue.

It feels like a error to me, but I can't understand why they would suspend your account first then do an investigation? Surely they would investigate and then suspend your account? If you were up to anything dodgy that would that would irrefutable proof for them?

[spreadbetting]

I'd be inclined to agree with the automated suspension idea. It just wouldn't make any sense for someone to have manually suspended one of their major API suppliers accounts with the likely fallout they'd get once it was proven Peter hadn't been up to any shenigans.

Have they given you any indication it's to do with PC , Peter?


"It feels like a error to me," I'd imagine you'll have a lot more clout getting things sorted than the majority of us, god help when they start suspending other accounts in error

[andyfuller]

I wasn't trying to say what Peter had posted meant he was avoiding the PC, I was just trying to think of reasons why he would have his accounts suspended and that is the only thing I can think of. Maybe they haven't read those comments but as others have said maybe a bot has read the actions and automated the suspension which is what I would guess is the most likely reason. I don't think any human would have made this error.

All shall be revealed I guess on Tuesday.