Sportsbook news results for the search term: betfair
On April 2nd, SBR reported that Betfair (SBR rating A-) acquired Blue Square Bet online (SBR rating B+) for £5 million. Blue Square players were redirected to their new accounts at Betfair. More than 120,000 new customers were acquired in the deal, as well as brand assets. Betfair has since made one of their first brand related decisions.
Betfair Sportsbook (SBR rating A-) has acquired Blue Square Bet (SBR rating B+) online for £5 million. Blue Square customers will be automatically redirected upon log-in to their new accounts at BetFair. Betfair gains approximately 120,000 new customers as well as brand assets; the deal does not include employees or technology.
Betfair Sportsbook (SBR rating A-) has left the Greek market. This marks the second withdrawal of the month from a European market, as Betfair also announced its departure from German market. Betfair cited regulatory and tax concerns as contributing to their decision. SBR news anchor Natalie discusses this topic and more in today's SBR iGaming News program.
In today's SBR Industry News video, SBR analysts Natalie Rydström and dispute manager Justin7 discuss the following: the recent upgrading of Sportsbetting.com (now .ag) following the BetOnline Group crediting over $30,000 to players who were cheated by old ownership, a Globet Sportsbook payout complaint, and two Betfair payout issues.
SBR analyst Natalie Rydstrom provides an iGaming News update for September 7th, 2012. In today's video, two companies pending online poker licenses in Nevada are discussed, as well as news from UK operator Betfair, a recent Alderney Gambling Control license, and lastly an acquisition by BetVictor.
A TitanBet (SBR rating C-) player files a betting dispute. The player claims that TitanBet cancelled bets he made which were in-line with Betfair. The player believes that TitanBet is voiding wagers for no other reason than failure to update the lines with the rest of the market. Sportsbook line managers are tasked with ensuring the book's offerings stay up to date as numbers move.
SBR newswoman Natalie provides an international iGaming news update. Topics covered included Betfair's launch of a fixed odds sportsbook and racebook platform for UK customers; Betfair agreeing to pay up to €10M in back-tax to the Spanish tax authority, as well as an update on US gambling news.
Betfair (SBR rating A-) has hired MetricStream, a company which specialises in enterprise-wide Governance, Risk and Compliance (GRC) and data management to support its IT, risk, assurance, and policy management. The company will help streamline Betfair's compliance using the latest data security standards. Betfair reportedly processes over five million transactions a day.
Online gaming businesses Bwin, Bet365, Tipico, and BetAtHome are the latest companies to be licenced in Schleswig-Holstein. The sports betting licence is valid for six years. On May 5th, SBR reported on the first three companies to be licenced in Schlewswig-Holstein; Jaxx (myBet), Betfair, and Nordwest Lotto.
In today's iGaming industry video, newswoman Natalie Rydstrom discusses gaming licenses issued in Schleswig Holstien, Germany; potential legalised online poker in Massachusetts by 2013, as well New Jersey's incentive to facilitate intrastate online gambling. Later in the segment, Natalie is joined by fellow industry analyst J-Todd, most known for his "This Week in Gambling" program.
SBR analyst Natalie reports on the latest iGaming industry news. During today's segment, Natalie is joined by SBR dispute mediator and legal mind "Justin7". Read the full video transcript
A high-stakes Betfair
(SBR rating A) punter tells Sportsbook Review that his account has been locked since March 28th, 2011. The Betfair player had a sum of €50,000 risked on an ATP tennis match—Michael Llodra vs Marcel Granollers—which was a normal stake for the trader. Marcel Granollers went into the match in good form and was a slight underdog at +138. After the conclusion of the match, the player states that he received a letter from Betfair indicating that the outcome of the match was being investigated. The player states that he wrote Betfair multiple times per week asking for an update on the status of the investigation. When SBR followed up with Betfair for comment, Betfair advised SBR that they could not discuss specifics of player accounts. SBR is asking the player to provide a complete overview of his position on the match. SBR will update this report as more information becomes available.
A professional Betfair player (SBR rating A) requested payment of $3,100,000 in February of 2011. To date, the player has received only $600,000. SBR has confirmed the outstanding amount is legitimate through Betfair
, and covered the issues surrounding the withdrawal status in the below video report.
UPDATE — Betfair is back online after scheduled maintenance.
BetFair (SBR rating A) users have reported
an hour of downtime.
12.03.2011 Betfair (sportsbook rating A)
players report that all markets are suspended. Players are able to log into their Betfair accounts, but find that they cannot enter offers. On March 11th, the UK news outlet The-Register reported that Betfair glitches
were allegedly fixed. | Betfair web problems
26.12.2010 Betfair (SBR rating A)
has charged a player €32,000 in premium fees. On December 2nd, the player's account was suspended. On December 15th, Betfair reopened the account after debiting the player's account for what it said was "suspicion of premium charges evasion". The player states that he has only bet in 150 markets over the last 4 months, and therefor should not have to pay the assessed fee. Betfair
justified its seizure to the player by stating that he and four other accounts from his country made similar market bets. The player denies having any relationship with the other four account holders. Betfair responded to SBR's request for comment by stating the following:Betfair:
[quote]Unfortunately, as before, I am unable to comment on the specifics of any such case (though hopefully this won't lead to you to the conclusion that the players version is always true) where fraud may be an issue.
Some general points that may help you here though
We have a premium charge that is payable by a very small proportion of our customers. Some customers may try to avoid paying the premium charge by structuring their betting in a particular way. If we find a customer has tried to do this, then we deduct the relevant premium charge from their accounts in accordance with our terms and conditions. All those liable to the premium charge are made aware of these terms and conditions.[/quote]
Betfair (SBR rating A)
update. On 12/3, SBR reported
that Betfair offered players a "Happy Hour" casino promotion on November 13th. The promo allowed for unlimited bonus credits provided that players could satisfy the 10X casino rollover.
A player deposited €300 with Betfair
on November 13th. The player repeatedly used the Happy Hour bonus, eventually betting €1000 a hand. He increased his balance up to €32,071 Euro with the help of the promotion, which allowed unlimited bonuses. He successfully withdrew the money to his checking account, where it was credited on November 16th. On November 18th, Betfair debited his bank account for €32,071 without his consent or any warning. Betfair gave no explanation for the debit. SBR has requested comments from both Betfair and the player's bank. To date, neither has offered any comment. | Betfair voids funds of casino promo winners
03.12.2010 Betfair (SBR rating A)
players have notified SBR of a botched casino promotion. Betfair offered players a "Happy Hour" casino promotion on November 13th. Players were given a 50% bonus (up to £100) if they transferred funds into the casino for the 1-day special. The promotion required a 10X rollover which had to be met in twelve hours. Betfair
advertised that this special could be used unlimited times; a player could transfer £200 into the casino 100 times, earn a £10,000 bonus, and would be entitled to retain his bonus provided the rollover was finished in twelve hours. However, Betfair allowed players to play games such as Casino Hold Em with this promo, wich has just a 2% house edge. This enabled savvy players to quickly fulfill their rollover, then redeposit to the casino to again receive a bonus. Betfair's terms specifically allowed the promotion to be redeemed unlimited times during the 1-day window. Once Betfair recognized how unprofitable and poorly structured the promotion was, they began to seize casino winnings from players accounts. | Betfair Casino complaint
Betfair (SBR rating A)
bonus dispute. Betfair ran a new account special from October 6th-11th for 50% cash-back on losses during that period. The requirements were that €50+ needed to be wagered on two or more days. A player signed up for this promotion and lost €1260 during the allotted time. Betfair
opted not to refund half of his losses (€630), stating that this special was never offered to the player. The player provided both SBR and Betfair with a copy of the e-mail he received advertising the promotion. SBR is investigating.
A BetFair (SBR rating A+)
player has filed a sportsbook complaint
. On May 4th, the player requested a $150 withdrawal to Webmoney, however only $120 was sent to his Webmoney account. The player states he wrote an e-mail to inquire to BetFair
about this. At this point, his account was closed. The remaining $150 in his account has not been paid, nor has the player been provided an explanation for the account closure. On May 9th, BetFair closed two player accounts
alleging fraudulent activity, but did not share its evidence with SBR. BetFair often cites its data protection act, and generally limits its discussions regarding player complaints to IBAS
- the Independent Betting Adjudication Service that settles UK gambling disputes. SBR has written to BetFair to inquire.
Two unrelated Betfair (SBR rating A+)
players have written SBR for dispute assistance
. Each player had their balances confiscated by Betfair for what was alleged to be fraudulent activity. The first player opened his account in late April, depositing $100 before increasing his balance to $450. Upon requesting a payout, Betfair
confiscated his $550 balance. The second player deposited $240 in mid-April and increased his balance to $1400. After the player successfully withdrew $590 from Betfair, his remaining balance of $1050 was confiscated. SBR is discussing both cases with Betfair.
On 2/15 SBR reported that BoyleSports (unrated)
voided a players winning €20 wager on an Italy Series B soccer match between Gallipoli and Grosseto. SBR followed up on the complaint and inquired to BoyleSports about the wager cancelation. BoyleSports
cited data protection as the reason it could not comment on the case, despite the fact that the player authorized SBR to inquire on his behalf. The soccer match between Gallipoli and Grosseto has come under fire in the last week with at least two confirmed sportsbooks, BoyleSports and Interwetten (SBR rating B-)
canceling bets on the soccer match due to suspicions of foul play. Top soccer sportsbooks such as Betfair (SBR rating A+)
paid all bets as normal in the match.
Interwetten (SBR rating B-)
has addressed the €6300 canceled bet dispute from SBR's 2/15 report
. Interwetten has cited third party news sources which chronicled a highly irregular number of bets on a 2-2 exact score outcome on an Italy B Series soccer game between Gallipoli and Grosseto. The score was 2-1 at half when a lopsided number of bets streamed in on the exact outcome. SBR has inquired in discussions with Interwetten
whether or not all open bets on the game were voided, or only the wagers on the 2-2 outcome. Interwetten stated that its legal department advised them to not answer these questions. Interwetten, along with all other sportsbooks which serve sports where match fixing has been proven to occur have rules on file enabling them to void all bets in such games. The most ethical course of action when canceling bets on matches determined to be fixed is to void all wagers, not to selectively apply which wagers to settle. Betfair (SBR rating A+)
graded all markets normally on the wager. | Interwetten cancels winning bet report
The new reduced juice sportsbook is a sister book of BetFirstClass (SBR rating C-)
. The discounted vig booking model is one of the hardest to sustain, even at -107. Many have tried and very few have survived. As with all businesses the most necessary ingredient with low sales margins is high volume. Unlike Pinnacle (SBR rating A+)
and Betfair (SBR rating A+)
, this is something Lay104 does not have. SBR would expect the group to close the brand if it gained enough popularity and active players to show long term financial forecasts.
Bwin (SBR rating C-) pays player in full for cancelled winning tennis
bet (report below) after SBR discussed market odds with management. Players with
cancelled bwin wagers are welcome to contact SBR.
[quote]Bwin (SBR rating C-)
cancelled a live tennis wager citing an
input error, voiding €420 in winnings. The player bet an in-game wager
on Agnes Szavay risking €60 at 7/1. After the match concluded Bwin
cancelled the wager. At the time the wager was placed, Betfair (SBR rating A+
had odds from +620 to +520. This does not appear to be a case of an
obvious input error. SBR has contacted Bwin to address the dispute.[/quote]
27.10.2009 Bwin (SBR rating C-)
cancelled a live tennis wager citing an input error, voiding €420 in winnings. The player bet an in-game wager on Agnes Szavay risking €60 at 7/1. After the match concluded Bwin
cancelled the wager. At the time the wager was placed, Betfair (SBR rating A+
) had odds from +620 to +520. This does not appear to be a case of an obvious input error. SBR has contacted Bwin to address the dispute.
Two players from sportsbook, Shilbet (not rated)
, complain that the sportsbook graded their full-game bets as 1st half losing wagers. On June 10th, Shilbet offered wagering on the Ecuador vs. Argentina soccer game. Odds history logs show that Shilbet
offered full-game odds of +300 on Ecuador, +210 on the draw, and -143 on Argentina. At least two players had wagers on Ecuador at +300, believing it to be a game wager. The game was tied 0-0 at halftime, and Ecuador won the game 2-0. The players now see that half time result had been applied to their wagers on the full game. SBR has begun discussing the matter with Shilbet.
Shilbet claims that "In certain occasions we pick unconventional odds in order to attract players
". SBR notes that Betfair (SBR rating A+)
had odds on a first-half draw at +108, and finds Shilbet's explanation for the line being for the full game is unlikely for multiple reasons. 1. It was offering +210 on a first half draw - nearly double the market price; and 2. Both players and odds tracking sites would have had to misinterpret first-half odds as full-game odds. Shilbet's software does not note if wagers are on periods of games or full games.
Three players wrote SBR with similar complaints. Each player had wagered on Jenson Button to win the Formula 1 World Championship at the odds of 70:1. At the time these wagers were placed the betting market, including Bookmaker (SBR rating A+),The Greek (SBR rating A+) and Betfair (SBR rating A+), was offering similar betting odds. SBG waited until Jenson Button won the first two Formula 1 races, voided the wagers, and offered to reinstate the bets at 10:1. SBG is wrongly applying the "gross or obvious error" rule to these bets. The line was not offered in error. SBGglobal bettors are victim of outright theft. This sportsbook has a long history of cheating players. SBG management would not discuss the cancellations with SBR.
SBR receives 2nd complaint in a month from a Bet1128 (not rated) user of voided winning wager after the event was finished.
Player: They cancelled match ONE DAY AFTER without any explanation. Ok - if the match odd on Monfils was too high - they had time 12 hours to correct the thing (i placed a bet 12 hours before match start), they could cancell the match, let all users got message and offer lower odd of 2.8 for example. They play dirty - let their customers live in fake that their bet is valid, they wait match to finish if Davydenko win, everything is good - they take money to their customer. If Monfils win - instead paying people at odd of 3.35 they CANCEL THE MATCH?!
The player quotes Betfair (SBR raing A+) offering betting odds on Tennis player Monfils at +215 and +184 at Bet24 (not rated). The player wagered on Monfils at +235. Player also points out that the book's advertised policy is to regrade the wager at the correct market price.
Bet1128 rules: If during transcription, typing or printing a quoted odds is visibly incorrect (e.g. 1.50/2.50) the company reserves the right to reinstate the original odds even after the result is known. In such cases comparison with other bookmakers currently on the market will, in good faith, give evidence of the error.
27.02.2006 UK-based Betfair(SBR rating A+) confirms plans to offer PayPal as new banking option.
PayPal removed information referring to gambling activity from sections 2.7 and 7.2 of the User Agreement for Austria, Germany, and U.K in November of 2005. PayPal.co.uk’s AUA previously included the following language: Using the PayPal service to receive payments for wagers, gambling debts or gambling winnings, regardless of the location or type of gambling activity.
In the past, more than a few sportsbooks have offered peer-to-peer betting but it seemed that American bettors were not ready to follow in the footsteps of their European counterparts. Sportsbooks were unable to offer a quality product that was as easy as the book itself. However, it appears the overwhelming success of Europe’s Betfair
has bookmakers believing it is only a matter of time before the next Betfair
hits the US. SBR has learned that a sportsbook from the Recommended List
plans to launch a new betting exchange that functions like a regular sportsbook.
now holds a respectable C+ SBR rating and is by far the most interesting new sportsbook of the class of 2004. We continue to remain somewhat cautious on Mansion despite the high level of financing from a millionaire cigarette tycoon from Asia and a capable management staff. Mansion has taken aim at the two toughest competitors in the industry in Pinnacle
(SBR rating A+) and BetFair
(SBR rating A+). History is not on the side of books that take on those two goliaths, however Mansion could be the exception.
Betfair tells SBR that all SportingOptions player balances of £1000 or less may be transferred from their SportingOptions account. For traders who held a higher balance, BetFair will offer half-price commission on all wagers until the total discounted commission equals the player's SportingOptions balance less the initially credited £1000. Those who lost large balances will be required to wager extensively in order to fully benefit from this relief package. All players looking to take advantage of this bailout must open or have an account at www.Betfair.com
Betfair expects to assume all player balances by the end of the week. This move is expected to restore player confidence levels in the UK sports-trading market.
31.07.2003 (12:00 AM CST)
Fonbet Rating Changes - <b>Raised:</b> BetFair C+ to B+, Fonbet F to D+ <b>Lowered: </b>SSP D to F, Sportbet D+ to D
31.07.2003 (12:00 AM CST)
#1CyberSportbetting Rating Changes - <b>Raised:</b> BetFair C+ to B+, Fonbet F to D+ <b>Lowered: </b>SSP D to F, Sportbet D+ to D
31.07.2003 (12:00 AM CST)
Aaronssportsbet Rating Changes - <b>Raised:</b> BetFair C+ to B+, Fonbet F to D+ <b>Lowered: </b>SSP D to F, Sportbet D+ to D