Censored Betfair robbery video (at SBR.tv)

[Ace_of_Spades]

32k

[Sawyer]

Premium Charge sucks. But you can avoid it if you're smart

[Ace_of_Spades]

Premium Charge sucks. But you can avoid it if you're smart

Please share.

[FourLengthsClear]

Anyone know the estimated amount of money one would have to have in their account to be hit by this premium charge?

It is related to the profit made and commission generated over the lifetime of the account, not the account balance. If commission charges are less than 20% of your profit you are liable to pay the Premium Charge (with an exception or two).

As Sawyer mentions, there are ways to avoid it which involve generating losing trades (offset by a profit at another book) to increase the ratio of commission paid.

[Pareto]

It is related to the profit made and commission generated over the lifetime of the account, not the account balance. If commission charges are less than 20% of your profit you are liable to pay the Premium Charge (with an exception or two).

As Sawyer mentions, there are ways to avoid it which involve generating losing trades (offset by a profit at another book) to increase the ratio of commission paid.

Generate losing trades?

How do you know in advance that a trade will win or lose? If you win at Betfair and lose at the other book, then you are in a worse position.

However you can minimize the premium charge by betting different negative correlated bets. Such as:

Correct score: 0-0, 0-1 & 1-0 combined with O 1,5 goals. Making these bets will increase your commision generated, and if you do it on efficient markets you will about break even.

[jennahazeplays]

just a scummy fking book

[captrobey]

I will never put money into betfair thanks for warning

[FourLengthsClear]

Generate losing trades?

How do you know in advance that a trade will win or lose? If you win at Betfair and lose at the other book, then you are in a worse position.

However you can minimize the premium charge by betting different negative correlated bets. Such as:

Correct score: 0-0, 0-1 & 1-0 combined with O 1,5 goals. Making these bets will increase your commision generated, and if you do it on efficient markets you will about break even.

You don't, of course.

Before Premium Charge most traders (as opposed to bettors) would aim to lock in a guaranteed profit for every event. If the aim is to generate some losses then, of course there will be (say half) of markets where a bigger than desired profit is made. The net result however is a higher commission to profit ratio and therefore a lower exposure to the charge.

[Hareeba!]

Anyone know the estimated amount of money one would have to have in their account to be hit by this premium charge?

nothing to do with how much you have in your account
all to do with how much commission you've paid under the standard system v. how much you've won - if <20% of net winnings you may be hit with the PC

[bettilimbroke999]

People complaining about Betfair in this forum are no doubt Yanks who are unable to use the site and have no idea about it. I agree with you completely Hareeba, best sportsbook on the planet. Go back to using "legendz" and "bet phoenix"...

I play at betstake and its fukin awesome, they got Auburn +7 so **** your Betfair

[jgilmartin]

Sorry to go off on a tangent, but Hareeba reminded me of this....Justin - do you know why SBO isn't rated?

[chance]

Come on Sawyer share your method of working with the Premium charge.

[bracerman]

Omitted from this thread is that some casino players contacted Betfair ahead of the promo to confirm the legitimacy of the bonus and make sure the terms were accurate since they seemed to good to be true. The emails back from Betfair were of the tone "Yes, of course the promo is real and the terms accurate. we're not a bunch of idiots over here."

Imagine you see a line that doesn't look right and contact a book about its accuracy. They confirm it is good and only after this confirmation you bet it. It wins and then the book cancels the wager claiming a bad line. How fair is that? Book is free rolling and that is what happened in the BF casino, since BF did not reimburse the losers.

[Hareeba!]

Omitted from this thread is that some casino players contacted Betfair ahead of the promo to confirm the legitimacy of the bonus and make sure the terms were accurate since they seemed to good to be true. The emails back from Betfair were of the tone "Yes, of course the promo is real and the terms accurate. we're not a bunch of idiots over here."

Imagine you see a line that doesn't look right and contact a book about its accuracy. They confirm it is good and only after this confirmation you bet it. It wins and then the book cancels the wager claiming a bad line. How fair is that? Book is free rolling and that is what happened in the BF casino, since BF did not reimburse the losers.

yes, that's a good point if accurate

but did the terms of the promo refer to Betfair's standing terms and conditions?
if so, stating that the terms are accurate doesn't make their case wrong if a breach of those is what they are relying on
if not, hopefully the adjudicators/court or whatever makes a fair decision and Betfair complies with it

[tommygun]

i love it how all these people are like: "i'm not playing at betfair now, thanks for the heads up" "i'm not putting money into these crooks!" etc etc.
My bet is they are a bunch of Americans who are jealous and can't even play there to begin with.

[Hareeba!]

i love it how all these people are like: "i'm not playing at betfair now, thanks for the heads up" "i'm not putting money into these crooks!" etc etc.
My bet is they are a bunch of Americans who are jealous and can't even play there to begin with.

more than likely Tommy but worse still they are probably sending their money to joints which are far less secure and many of which would be using their money to fund their business, pay the rent, wages and computer costs etc rather than keeping it quite separate such as Betfair do

[yisman]

People complaining about Betfair in this forum are no doubt Yanks who are unable to use the site and have no idea about it. I agree with you completely Hareeba, best sportsbook on the planet. Go back to using "legendz" and "bet phoenix"...

everyone should join up at betfair and send me a pm because i can give u a free $50.

Betfair best book in world. They make millions ACW.

i love it how all these people are like: "i'm not playing at betfair now, thanks for the heads up" "i'm not putting money into these crooks!" etc etc. My bet is they are a bunch of Americans who are jealous and can't even play there to begin with.

everyone should join up at betfair and send me a pm because i can give u a free $50.

Thanks for the helpful insight.

You go from attacking Americans as "jealous that they can't use Betfair" to shilling and saying everyone should sign up there.

Also, click my referral link.

[Monte]

Tommygun should get his A$$ banned, so that is what's behind all the Betfair praising lmao...fukkin weasel.
I hope for you Hareeba that you are not on the same line, but don't think so.

[yisman]

I think we've found our new richb7a.

[tommygun]lol loser americans everyone join betfair best book ever they make millions and click my referral link

did I say remmeber to pm me b4 u sign up? be sure to do that

haha any1 bashing is just jealous of the great betfair. best book ever[/tommygun]

Enough of the useless shilling already.

[yisman]

Tommygun should get his A$$ banned, so that is what's behind all the Betfair praising lmao...fukkin weasel.
I hope for you Hareeba that you are not on the same line, but don't think so.

I'm guessing he's not.

[tommygun]

Yisman, I was just having a laugh to myself at all the yanks in this thread saying they won't deposit at betfair, betfair are crooks blah blah, you can't even play there i just find it ironic. Why should i be banned Monte? for helping ppl out? you clown.
also i was saying everyone who is not from USA should sign up at Betfair Yisman, why miss out?

[yisman]

This is a forum that caters to Americans. The posters here are at least 80% American.

Yisman, I was just having a laugh to myself at all the yanks in this thread saying they won't deposit at betfair, betfair are crooks blah blah, you can't even play there i just find it ironic.

It didn't sound like the laugh you were having was to yourself.

As for the people saying they won't deposit at Betfair, I'm assuming they're non-American or it wouldn't make much sense.

[yokspot]

but did the terms of the promo refer to Betfair's standing terms and conditions?
if so, stating that the terms are accurate doesn't make their case wrong if a breach of those is what they are relying on

People queried the terms specific to the promo, ie. the low playthrough and the low house edge games inclusion (blackjack, casino hold'em etc).

There was no terms breach. What specific breach are you referring to?

[Hareeba!]

People queried the terms specific to the promo, ie. the low playthrough and the low house edge games inclusion (blackjack, casino hold'em etc).

There was no terms breach. What specific breach are you referring to?

If you've been following the discussion you would see that I have posed that as a possible reason for Betfair's staunch defence of their position. I don't know for sure what their grounds are but having observed many of their legal challenges I have high regard for their judgement.

As I've said every promo I've seen from Betfair includes a statement that their standard terms and conditions apply. I suspect very few people ever bother to look at that link. I may be wrong but that's the only thing that comes to mind to explain why they are standing firm against the tide of popular opinion. I guess we'll see when the case is argued and settled.

[bracerman]

[

If you've been following the discussion you would see that I have posed that as a possible reason for Betfair's staunch defence of their position. I don't know for sure what their grounds are but having observed many of their legal challenges I have high regard for their judgement.

As I've said every promo I've seen from Betfair includes a statement that their standard terms and conditions apply. I suspect very few people ever bother to look at that link. I may be wrong but that's the only thing that comes to mind to explain why they are standing firm against the tide of popular opinion. I guess we'll see when the case is argued and settled.

While, there were some idiots that bet on every number on roulette to lock in a guaranteed profit which I believe contravened some general term, most players didn't break any promotional or general term. The only thing Betfair has is the FU term that most books/casinos have these days, "we make the rules and can change them at any time and our decision is final". This would never stand up in a court, and this is why certain UK players have been paid after threatening to take BF to court.

[Hareeba!]

... certain UK players have been paid after threatening to take BF to court.

first I've heard of that .. source ?

[bracerman]

first I've heard of that .. source ?

Posters on another forum have claimed to have been paid after taking this action.

Seems if the player was able to transfer the winnings from the casino (Malta juridiction) to the exchange (UK jurisdiction), and BF removed the funds from the exchange account, UK players may have some legal footing to go after BF locally. Not surprisingly BF are trying to avoid this.

[yokspot]

If you've been following the discussion you would see that I have posed that as a possible reason for Betfair's staunch defence of their position. I don't know for sure what their grounds are but having observed many of their legal challenges I have high regard for their judgement.

They quite clearly stated the reason was "unusual depositing and playing patterns", ie. complete nonsense.

Posters on another forum have claimed to have been paid after taking this action.

Can you be more sprecific? It wouldn't be the first time players complain about problems, then fail to update a happy resolution. In fact, it's the usual way more often than not.

[bracerman]

Can you be more sprecific? It wouldn't be the first time players complain about problems, then fail to update a happy resolution. In fact, it's the usual way more often than not.

You know which website I am referring to....the same thread where you got lambasted.

[yokspot]

You said "players", but only one person had reported getting paid at that forum last time I checked, so I assumed it was another. I've no idea if other players have subsequently come forward to claim payment.

I would be very surprised if Betfair was selectively paying players who threaten them. It would put them in a very dodgy position.

[tommygun]

yisman, they said it because they were jealous, duh

[Birre]

Video unavailable for UK only at youtube. Would be great if this could be changed.

For those who wants to fill in a complaint try this:

https://www.moneyclaim.gov.uk/web/mcol/welcome

People tell that it looks promising

[bracerman]

Video unavailable for UK only at youtube. Would be great if this could be changed.

Use a proxy.

[Justin7]

Video unavailable for UK only at youtube. Would be great if this could be changed.

For those who wants to fill in a complaint try this:

https://www.moneyclaim.gov.uk/web/mcol/welcome

People tell that it looks promising

You can't see this video in UK?

[bracerman]

You can't see this video in UK?

Betfair must be trying to save face on their home turf.