betfair winner
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head always buried in stats
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« on: September 24, 2011, 18:27 » |
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A Betfair punter is threatening legal action against the betting exchange after a dispute over more than £52,000 that he claims has been removed from his account.
By Alistair Osborne http://www.telegraph.co.uk/finance/
Sandip Sayaniya, who aired his grievance outside the company's annual meeting on Thursday, claimed he was not the only customer involved in a row over "premium charges".
Betfair initially deducted 20pc of gross profits from successful punters gambling in more than 250 betting markets. In July, such charges were raised to 40pc to 60pc for customers who have won more than £250,000.
Mr Sayaniya alleges he has bet in less than 250 markets and made a £24,000 profit. However, he claims that on September 5 his account was suspended "under investigation of Premium Charge avoidance". On September 20 he received an email from Betfair's "pricing team" stating his account shared a similar betting strategy with four others, all of which would be taken into consideration for the charges. Betfair deducted all £52,352.85 in his account.
Mr Sayaniya, who plans to start legal action by next Thursday if the money is not repaid, said: "I do not recognise any of the other four accounts named by Betfair, and have never operated any account other than my own."
A Betfair spokesman said: "We thoroughly investigated this matter and we determined that the customer was evading payment of the required fees." He added that Betfair's legal department was happy to "discuss it with him further".
My understanding is that, new accounts that show a instant profit that betfair first look into. They look at ISP's and if there's a link they suspend the account, so if you're a winner and have showed any family member how you operate and they win they'll very likely lose all their money (please warn them) They then look at how the new accounts are operating/winning, so if anyone has been on a course and shows an aptitude they will be suspended and then raped of all their money too, purely for doing as they were told on a betfair course. They should be told this before they part with their money this could happen but they're not (i wonder why?)
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1x
This time next year, we will all be paying Betfair premium charge commission rates!
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mcbee
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« Reply #1 on: September 24, 2011, 19:40 » |
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hi
SO, if anybody did have a fool proof trigger and shared it, they would all have there accounts closed and lose all there money.
With betfair, if you make money your account is closed
If you use test mode, your account is closed (yesterday different bot user had is account closed for over using test mode).
BUT, if you LOSE (to WHO ) most of the time then (betfair keeps quiet)
mcbee
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If you don't try you will never know ?
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betfair winner
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head always buried in stats
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« Reply #2 on: September 24, 2011, 22:11 » |
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Yes Mcbee
You gotta love Betfair havnt you!
BLESS THEM!
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This time next year, we will all be paying Betfair premium charge commission rates!
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flogger
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« Reply #3 on: October 02, 2011, 04:30 » |
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This keeps getting better and better for them. All this happened in the same month. Betfair is in for a rough ride over data theft 30 Sep 2011 Betfair will only refund bets in jackpot error 28 Sep 2011 Betfair 'removed £52,000 from account' 23 Sep 2011 I have to agree they were better 2 years ago.  |
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You're never a loser until you quit trying.  |
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SMF
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« Reply #4 on: October 02, 2011, 17:12 » |
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Betfair only want losers as they pay the commission. Too bad that it must be quite hard to setup a decent/profitable betting exchange otherwise there would be some alternative. Can't hardly call betdaq an alternative.
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1oser
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I think I could be on to something here!
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« Reply #5 on: October 03, 2011, 17:06 » |
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I hope the legal action does happen. Big corporate's have lawyers that tend to discourage the little man from going to court.
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warriorfullights
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« Reply #6 on: October 06, 2011, 10:02 » |
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The house always wins. That is the only sensible way to explain what happened. A punter might mistakenly claim that a balance of hundreds was took from his/her account, but if is amounting to 2-digit thousands then that's a different story and BetFair should give an honest answer. |
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OllieLa
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« Reply #7 on: November 02, 2011, 18:21 » |
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Leon Kaye solicitors are investigating this type of thing for class action and an IPO issue
http://www.leonkaye.co.uk/betfair.html#textbox
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apples999
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« Reply #8 on: December 06, 2011, 04:11 » |
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As far as I can tell
... HE CHEATED!!!
... HE'S A CHEAT!!!
The faster Betfair gets rid of the cheats
The better all of us other Betfair users will be.
Happy Punting
Apples999.
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richpotter
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« Reply #9 on: December 12, 2011, 11:14 » |
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It's the winners that pay the commission.
I am puzzled, if you win lots of money on Betfair, they are entitle to just take 60 % of it ?
Can someone explain ?
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SMF
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« Reply #10 on: December 12, 2011, 12:48 » |
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Actually its the loser that pays the commission
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richpotter
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« Reply #11 on: December 13, 2011, 10:01 » |
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Right, if it's the loser that pays the commission, why on my betfair statements am I paying commission on wins, and nothing on losses ?
Are you lot wired up right ? How can betfair take money from a loss ?
YOu bet £2, you lose. YOu bet £2, win £4 and pay 5% commission
Mcbee ? Betfair Winner ? someone with some sense please clear this up ?
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SMF
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« Reply #12 on: December 13, 2011, 13:55 » |
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You bet £2, you lose, you pay 10 cents to betfair and 1.90 to the person who took your bet.
A winner gets his full £2 back + something more.
I mean, if you were betfair and you need to make money, you need losers, not winners.
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