Betfair voids funds of casino promo winners

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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 player complaints:

Player #1: A player received 2500 gbp in bonuses at Betfair’s casino, and met the rollover requirement for £2000. The terms allowed 12 hours for him to meet rollover, but £500 in stacked bonuses were removed from his account. The next day, his account was locked. Betfair debited his account all the bonuses, but left him with the casino losses. This lowered his balance to £-745.57 balance. Betfair then wrote the player, stating “Please fund your account with the negative balance amount of -£745.57 at the first opportunity. Failure to do so by 26 November 2010, may result in us taking the appropriate action to recover this sum from you. “

Player #2: A player earned £2200 in casino bonuses under the Happy Hour promotion, and stacked some to play later. Betfair removed the stacked bonuses, and debited his account for £2393.26, which included £2200 in earned bonuses, and £193.26 in net winnings.

Player #3: A player received £500 in bonuses at Betfair's casino. The T&C for the Happy Hour promotion allowed the player 12 hours to meet the rollover to convert the bonus to cash. The bonuses were removed from the player's account after a few hours before he could convert them.

Player #4: A player received a £100 gbp casino bonus. The player logged out for a few hours, and found the bonus missing when he returned.

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SBR received 3 complaints about players registering for Betfair’s “loss back” promotion, which ran from October 7th through October 11th. The promotion required players to bet at least £50 per day for 5 days. If the player did this, the promotion would reimburse the player a portion of his losses. In all three cases, Betfair refused to reimburse the players for their losses. Players reported that Betfair refused to reimburse them $1000, $1039.35 and €630 respectively.

 

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