Betfair scum

**Optional** · 11-04-20, 05:02 PM

I don't have the same faith in Betfair I used to years ago either, and think it has got worse since the Flutter/Betstars merge took it over. But this may not be totally on them.

AML rules keep changing and getting tougher year on year.

It sounds like they have decided to be very strict with it, but their reason sounds like it really is by the book

**Alfie White** · 11-05-20, 03:28 AM

Even if you use the account by an agent (who provides BF accounts these days anyway?), you will get the same measures on that account as they will notice a pattern and they will request the same documents to agent and agent will ask you and funds might be locked again.

Be smart and find another way to place bets, don't use 3rd party accounts - that is my honest suggestion for you.

**jazzmonkey** · 11-05-20, 04:23 AM

I also had the same SoW questions, asked for screenshots of accounts showing 10 biggest wins. Accounts were in other names (syndicate) but they had no issue and account has been cleared, it wasn't ever suspended fortunately. I have heard of others getting into difficulty though and I now have the same issue with Pinnacle which is going to be interesting.

Also had Bitstamp asking me. So in past 12 months Bitstamp twice, Matchbook, Betfair, Pinnacle, Blacktype, Vbet and perhaps another couple that I have forgetten about.

**Ronnie76** · 11-05-20, 07:04 AM

So the issue would boil down to you openly stating that you are arbing? But from what I understood they stated the issue being the documents that weren't sufficient or whatever...

I am having a weird situation with BF myself, so I was drawn by the thread title. I identified so much with the sentiment... They have put my bank deposit on hold somehow, with the excuse that they are waiting for a confirmation from the payment provider, Worldpay. It was a sizeable deposit and I've made it more than a month ago now! That can't be right...
They are just stonewalling me every time I contact them on chat... Payments dept is on it. Yeah... Next step would be complaining to the regulatory institution, I'd guess.

**SportsBettor74** · 11-05-20, 07:21 AM

These are all very concerning posts.

In the old days Betfair was straight up A+. No problems as long as KYC and Country were in order. No problems arbing as Betfair take their commission regardless. In fact, Betfair is probably built on arbing.

These new developments are of great concern and a rating re-evaluation or at least a warning re: high turnover customers could be in order.

**Optional** · 11-05-20, 07:22 AM

Originally posted by Ronnie76

So the issue would boil down to you openly stating that you are arbing? But from what I understood they stated the issue being the documents that weren't sufficient or whatever...

It sounds like the problem is that he hasn't been able to document the source of all the funds he said he was using.

It's not easy when your source of funds is betting winnings.

Originally posted by Ronnie76

I am having a weird situation with BF myself, so I was drawn by the thread title. I identified so much with the sentiment... They have put my bank deposit on hold somehow, with the excuse that they are waiting for a confirmation from the payment provider, Worldpay. It was a sizeable deposit and I've made it more than a month ago now! That can't be right...
They are just stonewalling me every time I contact them on chat... Payments dept is on it. Yeah... Next step would be complaining to the regulatory institution, I'd guess.

email escalations@betfair.com and ask if they can help.

**caramba** · 11-05-20, 12:11 PM

I've had these myself, but having a acc manager helps.
Betfair has no issues with arbing.
OP's explanation for not having proof of physical betting slips from betting shops makes sense. What AML team should have done was to then just ask for proof on some other winnings instead of closing the account. It's not like OP wasn't cooperating with AML team, he did provide as much info as he could, and gave an explanation why he couldn't provide proof of all these 10 wins. It doesn't help that AML team does not understand what arbing is. Sounds like OP was a very profitable customer for Betfair, and because of an inept AML team they got rid of him.
When I dealt with them they were happy with the info on 10 wins I provided, but they had also asked for a bank statement for 3 last months. I only get bank statements every three months so I sent them what I had, which was a bank statement from Apr-Jun (and this was in September) and a few days later my account got suspended, and I had to spend another day to get it opened again by sending documents they were happy with. And whis would have taken much longer to solve without an acc manager.

**ouzoun** · 11-05-20, 03:37 PM

I believe all exchanges are taking position against the player. Smarkets and Betfair I believe they bet their own money in the system and that is why they are not happy with arbers and traders. Pinnacle too.

**HeeeHAWWWW** · 11-06-20, 10:37 AM

Originally posted by Optional

It's not easy when your source of funds is betting winnings.

Even worse when that's intermingled with a bazillion crypto investments, and or crypto-based betting, like a lot of high volume gamblers.

It's such a dog's breakfast to parse any book is just going to give up, not wanting to risk annoying the regulator.

**Shifty** · 11-06-20, 12:25 PM

Sorry you lost your account. Did they pay your balance right away?

**Tim_L** · 11-06-20, 01:43 PM

Originally posted by dealer wins

After using Betfair heavily for 17 years arbing, they have today closed my account.
So there you have it, if you use Betfair don’t tell them you arb, bet or trade at any other book, and be prepared for your account to be locked for 3 months and then closed.

Sorry to hear this DW and yes they are reprehensible actions.

Were you a net winner or loser at BF? An account manager confirmed to me on the phone that the exchange wants net losers.

**Optional** · 11-06-20, 11:57 PM

Originally posted by HeeeHAWWWW

Even worse when that's intermingled with a bazillion crypto investments, and or crypto-based betting, like a lot of high volume gamblers.

It's such a dog's breakfast to parse any book is just going to give up, not wanting to risk annoying the regulator.

I always say if you can avoid declaring any funds are from gambling it is much safer.

They want clear paperwork to cover their ass. Better to give them a payslip for a 20k/year job and have them say you cant afford to gamble, but here is all your money back, than not be able to document what you tell them and risk having them hold it all indefinitely.

**dealer wins** · 11-07-20, 04:29 AM

Originally posted by Shifty

Sorry you lost your account. Did they pay your balance right away?

It took 3 months. After numerous requests for different financial and betting evidence. I sent them in what felt like my whole financial life lol

**cristianbet** · 11-07-20, 12:27 PM

This had become a shit book. In my country (Romania) although it has a branch here, it gives shit limits to players from the start, and if you bet on Sportbooks any valuebet your account is limited instantly.
But I guess OP played only on exchange market and I don't understand why they would even care as long as they get their commission. (6.5% now what a joke)
Shit book!

**prokroustis** · 11-09-20, 06:41 PM

Ok i have a question to ask. Let's say that someone bets through betting agent and earns 50000 euros. Then the punter who is unemployed and make his living through betting decides to make a deposit of 30000 euros from his winnings to betfair will they still ask for a source of wealth? Will they consider the winnings from a betting agent as a source of wealth? How can you proof that the money came from your betting activity? Is a screenshot enough? Do the betting agents provide customers with a letter that states their winnings ?

**Alfie White** · 11-10-20, 12:14 AM

Every company should provide you with official statement on your P/L and yes, that should be sufficient as SOF.