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monkeymagix monkeymagix is offline
Senior Member
 
Question How much can you win on Betfair before they kick you off?

I read this article earlier about 10 things bookies don't want you to know > http://www.ukhorseracingtipster.com/...t-you-to-know/

A few mentions of "traders" working for the bookies limiting accounts, stakes or just kicking you off.

IS Betfair the same?

Surely they take millions each day in money from the big bookies on track who lay off liabilities so why would they ban a punter for making a bit of money.

I know someone who won 5 bets at stakes of £2 in a row at SkyBet and was limited to 30p stakes.

This was due to noticing the drop in SA bet prices and the time difference between SA and UK and then betting on the 60/1 on Sky (now 20/1 in SA), so when they did drop their price he would make money just from the price drop. He hardly made any money as he was testing it out but was booted.

I also know people banned from shops for winning all the time.

So what is the maximum amount of money you are allowed to bet on a single horse, or multiple bets, or the biggest profit allowed before being limited or listed as an arb'er and even kicked off?
jabe jabe is offline
Senior Member
 
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There are some premium charges that may be incurred. They are described in the Betfair T&Cs (http://www.betfair.com/aboutUs/Betfa...rges/#charges6). Unfortunately the explanations are as clear as mud.
monkeymagix monkeymagix is offline
Senior Member
 
Question Hi

I don't think people would mind too much paying a bit more if they were winning a lot so what's the problem. We pay commission on Betfair so every bet we win they win as well so I don't see why they would want to cut off someone making themselves (and them), money, for winning.

If this is true then the old saying "the bookie always wins" is 100% right because they close your account if you start to win yourself. That seems wrong.
betdynamics betdynamics is offline
Senior Member
 
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Are you talking about the Betfair Exchange or the Betfair bookie site?

With the bookie site, then I'm pretty sure that standard bookie practices will apply and your account will be restricted/closed if you win too much.

However, with the Exchange, you are not taking money off Betfair. Your bets are being matched with other punters and, therefore, there is no need to restrict/close your account.

So, as far as the Exchange is concerned, I doubt very much that there would be any restrictions to your winnings.
Lopiner Lopiner is offline
Senior Member
 
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BetFair Sportbook is just like a normal bookie and they can and will limit your account (or even close it). As betdynamics said, the exchange is like any other exchange (or at least it should be) so you will not be limited in any way.
There is a deep web for betting, an intricate web of brokers, dark pools, sophisticated bet syndicates and so on (specially in Asia). If you are successful in finding new knowledge in the betting markets then you will have no problem in scaling your strategy in some more "advanced" bookies or in some of these brokers. The limits are not as high as in the financial markets but they are high enough for making someone very rich. Stakes of 100K or even 1Million are plausible.
If your talking about arbitrage between the average bookie (who is in the business of marketing and attracting some dumb fresh money) or bonus arbitrage then you will not be able to scale it up.
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monkeymagix monkeymagix is offline
Senior Member
 
Thumbs up Ta

Thanks for your answers.

I couldn't believe that the person who wrote the article was talking about the exchange as it's free money to them. A player v another player. One wins their money, one loses and Betfair makes a commission on the winnings.

Seems like a great way to keep making money without doing anything and kicking successful people off seemed mad especially with top bookies using Betfair to lay off liabilities etc.

Thanks
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arb, money, prices, profit, traders

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