Betfair limit

[Lautaro10]

Sorry if this isnt the appropriate area but I dont know where to catalogue the problem I have. Lately I have been experiencing the Betfair limit in my area (I live in Italy and the limit for a trade/bet is 10.000€ for Exchange). Since my stake has raised lately, I need to overcome that limit but I dont know how. I cant have a betfair.com/orbitxch account because here would be illegal, and also I cant trade in multiple betfair.it accounts because its against the website's rules. So my only option to solve this is to move abroad (like Malta or UK) and start using betfair.com? Hopefully you know more than me in this regard

[Kai]

Just ask Betfair to raise your exposure limit, they can do it instantly if you have that amount in your balance.

[Lautaro10]

Just ask Betfair to raise your exposure limit, they can do it instantly if you have that amount in your balance.

Can they do it? Because its specified in the rules that the limit is 10.000 for Exchange

[Kai]

Just ask Betfair to raise your exposure limit, they can do it instantly if you have that amount in your balance.

Can they do it? Because its specified in the rules that the limit is 10.000 for Exchange

They can easily raise exposure limits but sounds like you're asking about winning limits?

At first glance your Italian exchange looks to have different simplified win limits in place ("maximum win allowed on the Exchange is 10.000 euro").

If true this sucks for your scalability, but I would ask BF about it. Worst case maybe you could go "wide" with your bets instead of "tall". Or make the switch to the main exchange at .com like you said.

[jamesedwards]

I may be wrong but I think this reads that the exchange in Italy is capped for all customers to €10k. Probably a legacy from old Italian legislation that capped sports betting winnings to €10k, although the cap was increased 18 months ago to €50k.

[jamesedwards]

Sorry if this isnt the appropriate area but I dont know where to catalogue the problem I have. Lately I have been experiencing the Betfair limit in my area (I live in Italy and the limit for a trade/bet is 10.000€ for Exchange). Since my stake has raised lately, I need to overcome that limit but I dont know how. I cant have a betfair.com/orbitxch account because here would be illegal, and also I cant trade in multiple betfair.it accounts because its against the website's rules. So my only option to solve this is to move abroad (like Malta or UK) and start using betfair.com? Hopefully you know more than me in this regard

I don't know the rules specific to Italy, but if you were to move to the UK with a UK address then there is no legislative cap here on betting values. But there are now severe restrictions based on personal affordability, which are likely to be much much worse. Unless you are able to provide wage slips and bank statements that demonstrate high employment or investment income you will find yourself restricted very quickly to negligible values.

Best investigate Malta rather then the UK.

[jamesedwards]

Sorry if this isnt the appropriate area but I dont know where to catalogue the problem I have. Lately I have been experiencing the Betfair limit in my area (I live in Italy and the limit for a trade/bet is 10.000€ for Exchange). Since my stake has raised lately, I need to overcome that limit but I dont know how. I cant have a betfair.com/orbitxch account because here would be illegal, and also I cant trade in multiple betfair.it accounts because its against the website's rules. So my only option to solve this is to move abroad (like Malta or UK) and start using betfair.com? Hopefully you know more than me in this regard

I don't know the rules specific to Italy, but if you were to move to the UK with a UK address then there is no legislative cap here on betting values. But there are now severe restrictions based on personal affordability, which are likely to be much much worse. Unless you are able to provide wage slips and bank statements that demonstrate high employment or investment income you will find yourself restricted very quickly to negligible values.

Best investigate Malta rather then the UK.

Plus, it's shit here.

[Lautaro10]

I may be wrong but I think this reads that the exchange in Italy is capped for all customers to €10k. Probably a legacy from old Italian legislation that capped sports betting winnings to €10k, although the cap was increased 18 months ago to €50k.

Unfortunately the 50 k limit is only for sportsbook, not the exchange part

[Lautaro10]

Just ask Betfair to raise your exposure limit, they can do it instantly if you have that amount in your balance.

Can they do it? Because its specified in the rules that the limit is 10.000 for Exchange

They can easily raise exposure limits but sounds like you're asking about winning limits?

At first glance your Italian exchange looks to have different simplified win limits in place ("maximum win allowed on the Exchange is 10.000 euro").

If true this sucks for your scalability, but I would ask BF about it. Worst case maybe you could go "wide" with your bets instead of "tall". Or make the switch to the main exchange at .com like you said.

In order to have the .com version I would need to move in UK or Malta, not really on my mind for now what you mean instead with "go wide instead of tall"? To spread my bets on more matches?

[Lautaro10]

Sorry if this isnt the appropriate area but I dont know where to catalogue the problem I have. Lately I have been experiencing the Betfair limit in my area (I live in Italy and the limit for a trade/bet is 10.000€ for Exchange). Since my stake has raised lately, I need to overcome that limit but I dont know how. I cant have a betfair.com/orbitxch account because here would be illegal, and also I cant trade in multiple betfair.it accounts because its against the website's rules. So my only option to solve this is to move abroad (like Malta or UK) and start using betfair.com? Hopefully you know more than me in this regard

I don't know the rules specific to Italy, but if you were to move to the UK with a UK address then there is no legislative cap here on betting values. But there are now severe restrictions based on personal affordability, which are likely to be much much worse. Unless you are able to provide wage slips and bank statements that demonstrate high employment or investment income you will find yourself restricted very quickly to negligible values.

Best investigate Malta rather then the UK.

Nah in Italy even if you win 20k monthly they dont ask for wages of any sort. So somebody can easily live with betfair earnings with no other job

[Kai]

what you mean instead with "go wide instead of tall"? To spread my bets on more matches?

Yes along those lines, you sound resourceful enough to maybe make that work should need arise, since you already made BF.it work for you? A lot of us struggle to make the far more liquid BF.com work!

But you should probably start thinking of moving your account to the main exchange anyway, if you feel like you can't realize the full potential of your strategy on the Italian one, and if it's more than a little hobby.

[Lautaro10]

what you mean instead with "go wide instead of tall"? To spread my bets on more matches?

Yes along those lines, you sound resourceful enough to maybe make that work should need arise, since you already made BF.it work for you? A lot of us struggle to make the far more liquid BF.com work!

But you should probably start thinking of moving your account to the main exchange anyway, if you feel like you can't realize the full potential of your strategy on the Italian one, and if it's more than a little hobby.

Problem is that I actually bet just some times per month using a bigger stake, thats why I was searching for a way around the 10 k limit. Lets say I can use 20/30 k for a bet, I'd do it maybe twice a month and thats it. But yeah as you said, I guess I can do that only on betfair com from Malta. Someone said that Uk would ask for many documents if I do that there

[Kai]

Someone said that Uk would ask for many documents if I do that there

Not really, for fully regulated countries you would need to send them two proof of address documents (with your name on them ofc), so besides Italy that would also be the case for the UK, Ireland, Spain, Sweden and Denmark.

While for other countries Betfair would only require one such document.

But like you already heard in the UK you would potentially be far more susceptible to affordability checks, especially if you hit big losses sometimes and have to deposit large amounts etc, like it sounds you do.

In any case probably best to ask Betfair themselves if something can be done about your win limit. In comparison on the main exchange afaik the win limit on big footy is a whopping 1mil.

[Lautaro10]

Someone said that Uk would ask for many documents if I do that there

Not really, for fully regulated countries you would need to send them two proof of address documents (with your name on them ofc), so besides Italy that would also be the case for the UK, Ireland, Spain, Sweden and Denmark.

While for other countries Betfair would only require one such document.

But like you already heard in the UK you would potentially be far more susceptible to affordability checks, especially if you hit big losses sometimes and have to deposit large amounts etc, like it sounds you do.

In any case probably best to ask Betfair themselves if something can be done about your win limit. In comparison on the main exchange afaik the win limit on big footy is a whopping 1mil.

1 mil? Why are we stuck with 10 k then wtf so stupid. I think I am gonna try asking betfair like you said, maybe they can raise it if they see I have enough balance on my account. Unfortunately I havent seen anything talking about this in italian websites so I have no clue if it could work