Originally posted on 10/20/2019:

Quote Originally Posted by PunterLog View Post
Optional, i think you are a reasonable guy with good intentions in general. But, i'd have to disagree with you here.

The biggest thing here is that, it looks like Betfair is aware of Bet-IBC's tactics but then selectively confiscates funds from winning players. That is absolutely ridiculous from Betfair.

They should either not accept Bet-IBC's tactics completely or they should treat all accounts i.e winning and losing accounts equally. But, if they have no problem with allowing losing players but seize funds from winning players, they need to be held accountable.

I'm so intrigued by Betfair's policy here that i might open an account and then if Betfair pulls the same tactics with me after making a decent profit, i'll get my own lawyers involved in this circus run by Betfair.
Personally I don't think confiscations are a serious issue for regular Betfair users. If the account is in your name, even if you do get caught passing funds, as long as you can pass KYC those funds will go back to their original sources rather than be confiscated.

When using an agent, with bitcoin, who deposits on your behalf to books, the source of the account funds can become blurry and it's possible to have the funds you end up playing with the subject of tracking by authorities, and Betfair ordered to confiscate them that way. Just as another example apart from bot usage or wrong name on account or passing funds.

Like I said early in the thread, it seems reasonable to me that both parties should share the loss in this situation. But given the clear terms, I don't see it as fair to think we can demand that happens. I was probably a bit rough on Sarkarmi putting so much blame on him for not handling this better. Sorry to him for that, it was mostly frustration knowing trying to argue for the full balance was going to hurt his chances of getting an agreement, and having to watch him do it anyway, and then be asked to try and clean up after the damage was done. But I do understand why he and you feel as you do though.

The whole setup is a grey area. Personally I would not use them. But people have good (and bad) reasons for choosing them anyway and taking the risks. When things go wrong it really is a two person responsibility thing in my mind.