Betfair $3.1 million slow-pay and other pro player issues (Video)

[meckis]

We all know how he made his money and it is not from laying Real Madrid I always was interested how betfair deal with players like anty and now premium charge seams quite reasonable. It is your first such big withdrawal?

[JohnnyRotten]

at the end of the day no one can even try to defend betfair any more, they have pushed punters too far, fair enough hardly anyone pays the premium charge but what about the site crashes over the years? its fukkin ridiculous. they suspend games more than any other book claiming to have lost feeds yet im watching it on my motorised satellite dish.

I ditched betfair for purple and for pinny a long time ago.

they have ended up the same as ebay, fukking up a great thing through greed.

betfair may/may not last another 100 years who knows,

one thing is for sure they aing getting nothing from me.

[Hareeba!]

at the end of the day no one can even try to defend betfair any more, they have pushed punters too far, fair enough hardly anyone pays the premium charge but what about the site crashes over the years? its fukkin ridiculous. they suspend games more than any other book claiming to have lost feeds yet im watching it on my motorised satellite dish.

I ditched betfair for purple and for pinny a long time ago.

they have ended up the same as ebay, fukking up a great thing through greed.

betfair may/may not last another 100 years who knows,

one thing is for sure they aing getting nothing from me.

meaning you're getting nothing from them ... you're the one losing out mate

[Hareeba!]

Man seem like all books are in slow pay mode, there really doesn't seem like any good books left. 5 years ago, good books were a dime a dozen.

utter nonsense!

NONE of the books I deal with (which of course includes Betfair) are in slow pay mode

[JohnnyRotten]

im not losing, i can get the same prices on betdaq and pay 2.5% instead of higher on betfair.

also over the last 8 months ive averaged winnings of £1100 a month after commision.

ive not paid a dime in pc.

are you a winning punter?

if so why not go onto betdaq and not pay a pc?

[Hareeba!]

im not losing, i can get the same prices on betdaq and pay 2.5% instead of higher on betfair.

also over the last 8 months ive averaged winnings of £1100 a month after commision.

ive not paid a dime in pc.

are you a winning punter?

if so why not go onto betdaq and not pay a pc?

I've looked at Betdaq many times and not found a) the odds or b) the liquidity I can get (net of commission) at Betfair ... but I don't pay 5% and I certainly don't pay the premium charge

[JohnnyRotten]

I've looked at Betdaq many times and not found a) the odds or b) the liquidity I can get (net of commission) at Betfair ... but I don't pay 5% and I certainly don't pay the premium charge

the liquidity is there for big soccer games and uk horses which i bet on.

[Hareeba!]

the liquidity is there for big soccer games and uk horses which i bet on.

well the UK horses are on a bit too late for me

and for soccer are you talking about live or pre-game?

I like to play AH and find that SBO, 188Bet and Pinnacle are best, though Betfair can be okay too

[JohnnyRotten]

well the UK horses are on a bit too late for me

and for soccer are you talking about live or pre-game?

I like to play AH and find that SBO, 188Bet and Pinnacle are best, though Betfair can be okay too

mate im not doubting betfair is a good exchange cause its the best, but im simply saying they cant treat people the way the have been doing for the past few years.

the site is not secure and you would think with the money they make they could invest in this.

winning punters aint welcome at betfair. simple as that

now why cant they behave the way pinny does?

betdaq aint good in running but it is great pre race/match.

[Hareeba!]

mate im not doubting betfair is a good exchange cause its the best, but im simply saying they cant treat people the way the have been doing for the past few years.

the site is not secure and you would think with the money they make they could invest in this.

winning punters aint welcome at betfair. simple as that

now why cant they behave the way pinny does?

betdaq aint good in running but it is great pre race/match.

Don't understand your 'not secure' comment. I've not experienced as much difficulty with them as with Pinnacle. In fact I think they've overdone the development of the site with things the average punter doesn't need but effectively has to pay for.

Ordinary winning punters (i.e. the vast majority that don't fall into premium charge territory) would be more than welcome. It makes no difference to Betfair whether they win or lose. The more turnover they can generate the more goes to Betfair's bottom line.

[spider]

Don't understand your 'not secure' comment. I've not experienced as much difficulty with them as with Pinnacle. In fact I think they've overdone the development of the site with things the average punter doesn't need but effectively has to pay for.

Ordinary winning punters (i.e. the vast majority that don't fall into premium charge territory) would be more than welcome. It makes no difference to Betfair whether they win or lose. The more turnover they can generate the more goes to Betfair's bottom line.

Betfair charges commission only on the winning bets, so why would they kick out
winners? furthermore, the winnings don't come out of their pocket, but from the persons losing the matched bets. the only thing they care is for the markets to be matched. I'm sure a lot of people don't understand how betting exchanges work.

[JohnnyRotten]

yes betfair love the commision but they are driving the winning punters away charging 60% pc

the pro's wont pay that

[Scottish]

I think people who say Betfair don't want winner don't understand how a betting exchange works, it really makes no difference to them if you win or lose aslong as you pay commish.

[DoctorGonzo]

Liquidity across many horse racing markets has been very poor on Betfair in July, but much better than usual on Betdaq! It will be interesting to see where the pro-money goes when the soccer season starts.

[JohnnyRotten]

I think people who say Betfair don't want winner don't understand how a betting exchange works, it really makes no difference to them if you win or lose aslong as you pay commish.

mate i have used betfair since it began, so i understand

yes they collect commision and dont care if you win or lose but they are driving big customers away by charging a 60% pc.

we all know they dont give a fukk.

[HeeeHAWWWW]

Betfair don't want people winning at too high a rate, because these people withdraw their winnings. That removes liquidity from the markets, and results in less longterm commission for betfair.

They want people churning money in circles, poker style, basically paying the equivalent of a rake.

[vitalyo]

He is laying the favorites not backing them...
laying real madrid at home = playing X2

Yes thank you .


And Spider you have no clue about exchanges you can't even tell the difference between lay and back .

GL

[spider]

Yes thank you .


And Spider you have no clue about exchanges you can't even tell the difference between lay and back .

GL

read all the posts before you make your brilliant deductions!

[vitalyo]

Who's responsible for imposing a $20k limit on transactions ?

Doesn't make sense to me. How does UK business manage to trade with Russia?

I wouldn't be too surprised if Betfair isn't falling over itself to see this guy paid speedily as they probably know he's made the money playing fixed games.

Hareeba the expert
Every time you post something on the books or exchanges you claim to be an expert .
You are either fraud or your knowledge is very limited .
Firstly betfair offer fixed matches almost on daily bases
Example Italian soccer leagues, when you see the odds on the draw @ 1.20 (-500)
Or Ascoli to beat ACMilan at -425 . Sportsbooks don't even offer this games .
You wanna tell me betfair is not aware of this games? The question is why do they offer this games ? I think you got the clue .Sportsbooks on the other hand are exposed for a massive loss . However betfair is just fine with 5% off winning wagers .So please stop your theorys on betfair is trying to do something right or been a honest company .

Betfair collected off this guy at least 155k (5% win rake) that's before premium charges $600.000 , god knows how mach he paid in total . Lets assume betfair got hard evidence that his wagers came in on so called fixed games . With this much money at stake , what would they do with it?
Unless it gets out of hand like this tennis match where they got their back against the wall

http://thebetfairtrader.blogspot.com/2007/08/davydenko-betfair-and-match-fix.html

Davydenko's price started off ar around 1.2 on Betfair. He won the first set convincingly 6/2 - with no sign of injury - but his price had steadily drifted to 5.3! When a single break down in the second set he'd traded in the 9s!! He retired in the third with a pain in his left foot. Look at that in the cold light of day and the investigation is not entirely surprising. We can but wait for the results.

Of course, the unfolding match and result caused a meltdown on the Betfair tennis forum. Lots of burnt fingers and lots of big winners. Given the betting patterns you have to say Betfair is correct to suspend settlement, pending investigation, in accordance with its 2003 Memorandum of Understanding with the ATP.

Well i could be wrong but to me it looks like a slow pay case where betfair wants to keep his money .
Huge amount of $$$ for anyone . Betfair better have some reasonable explanation or it's pure slow pay case .

in the last 3 months they paid only around 50.000 USD. In the last 3 weeks I received 3.000 USD.

You don't wanna get 3k check when book owes you 3,1 mil .
I believe betfair is the one who is causing this problem with slow pay after all they are in agreement with PSP .

Good video Justin7

anty you might wanna post your complain here :

http://forum.punterslounge.com/f22/

Europe's Biggest Betting Forum . Make a trend and get in touch with Paul Ross he will try to help you . Actually he will get in touch with you .
There people on PNL that may help you to get on UK news .If PNL backs you up they can do / force betfair to come clean on this issue. They are Euro faced forum that have some powers over UK books that SBR doesn't have.
удачи тебе . privet is ottavu

GL.

[anty]

vitalyo, thanks a lot, I ll do it.
Тебе тоже всего самого самого!

[yokspot]

So the situation is:

1) Betfair handed the 3 million over this "PSP".

2. The "PSP" didn't pay.

Is that right?

[anty]

So the situation is:

1) Betfair handed the 3 million over this "PSP".

2. The "PSP" didn't pay.

Is that right?

Yes. And under the MSA contract with betfair PSP should pay me. But they don't do it. Now it is not a slow-pay, it is a no-pay.

[Toit]

So Betfair paid, but the PSP doesn't?

[yokspot]

At the risk of sounding a tad xenophobic, why would you entrust potentially large amounts of money to some bunch of Russian mafiosi?

[gliblet]

Liquidity across many horse racing markets has been very poor on Betfair in July, but much better than usual on Betdaq! It will be interesting to see where the pro-money goes when the soccer season starts.

I haven't noticed the liquidity drop that you're speaking of, yes it has been lower, but I wouldn't call it poor. Betdaq still has a lot of catching up to do. I don't see why they don't offer 1% or something like that for the start of the football (soccer) season for a month or so to really challenge Betfair. It's the perfect time for it.

[mr.inpak]

what doesnt make sense here is why did the player let his balance get so high

[anty]

At the risk of sounding a tad xenophobic, why would you entrust potentially large amounts of money to some bunch of Russian mafiosi?

Cause I felt protected by the name "betfair". I thought if betfair recommended those guys then nothing could happen.
How stupid I was...

[anty]

what doesnt make sense here is why did the player let his balance get so high

I explained already, I won a lot of money very quickly, had two great months.

[jjgold]

Looks like it had nothing to do with Betfair

A 3rd party stole your money

[vitalyo]

Looks like it had nothing to do with Betfair

A 3rd party stole your money

So in other words if SBR advises JJGold to make him transfer his points to SBR Lou in order purchase something from the store and then Lou goes on the run .
SBR tells you not our problem go find Lou .

LOL

[yokspot]

Cause I felt protected by the name "betfair". I thought if betfair recommended those guys then nothing could happen.
How stupid I was...

If they're Russian-based, there must be legal recourse. That's a monster amount of money to blow away. I'm assuming there's a quasi-credible legal system in Russia.

[yokspot]

You need to get Betfair to liase with them. They've demonstrated useless due diligence. You should at least file a complaint with Gibraltar. Betfair didn't steal anything, but they've been staggeringly incompetent.

[anty]

What is Gibraltar?

[vitalyo]

This whole thing reminds me BF casino fiasco when they claimed it is not us it's Malta juridiction and at the same time players were able to transfer the funds from betfair exchange (UK) to betfair Casino(Malta) , and then betfair removed the funds from the exchange accounts .

I am not arguing on BF casino casino case . And rest of you stay away
we don't need another ten pages .

But the pattern is the same. Punters money disappear at someone else s fault .


GL.

[kkkkk]

You need to get Betfair to liase with them. They've demonstrated useless due diligence. You should at least file a complaint with Gibraltar. Betfair didn't steal anything, but they've been staggeringly incompetent.

I think Betfair is still regulated in Malta.

@anty: what is situation Russia right now are you allowed to gamble online or you can only use governments bookmaker ?