Bet365

[SydneyRover]

Don't know how many of you guys bet but we've just listened to a whistle blower that accuses the company of limiting successful punters by rating the risk and limiting the amount that can be placed and a time delay on phone betting to further reduce the risk to them on games in progress. Not sure how this works not being a punter. One successful gambler has his acct on hold.

[tommy toes]

All the big bookmakers have restricted winning accounts for years Sydney.
They often limit you down to betting in pence after you've even had a  few successful bets as a new customer.

[redarmy82]

This is the norm and has been for a long time.

They also restrict Matched Bettors pretty quickly too.

[Herbert Anchovy]

As the others have said, this is standard practice and has been for years. Many, many years ago I was in the bookies beside Donny market when the manager refused to take anymore bets from a bloke as he’d been winning too much! He began going nuts and the police were called. Turned out the bookies were acting perfectly within their rights!

[SydneyRover]

This is the norm and has been for a long time.

They also restrict Matched Bettors pretty quickly too.

What's a matched bettor Red?

[tommy toes]

Matched betting.

You open accounts with bookmakers offering free bets, which all do, to get you in.
You open an account with a betting exchange.
You back horses or teams with your free bets to win and then back them to lose on the exchange at odds where you guarantee a profit either way.

A tedious way to make a few bob, although I've heard some made quite a killing when the bookies were offering hundreds of pounds in free bets, which they no longer do.

But as Red says the bookies can now identify who's doing it (no idea how)and close them down ASAP.

[SydneyRover]

Thanks Tommy

[GazLaz]

365 are the worlds worst for it. I’ve probably had a dozen accounts closed with them over the years. All firms will close you down if they see that you are constantly beating the price. I’ve had accounts close when I haven’t even had a winner with them! I opened a 365 account I’m my brothers name once and bet three horses at Southwell. They were 16/1 that SP’d 4/1, 7/2 that SP’d 4/6 and 8/1 that SP’d 2/1. All got beaten, account instantly closed!!

They are only interested in customers that they know can’t win long term. Preferably ones that have football accumulators.

[Filo]

Lad I sit next to at the KM need a Rovers goal against Charlton for an accumulater to win, we scored a goal in injury time that was disallowed, he’d already left the ground and was in the car park when he heard the cheers, he checked his bet365 account on his phone, they were offering over £700 cash out, he cashed out unaware the goal was disallowed until he switched the the radio on in the car. Two hours later the cash was removed from his account, he went through a lengthy appeals process and eventually got around half the money he should have got when cashing out. It was not his fault bet365 were offering a cash out on the bet, but bet365 took it on themselves to cancel the cash out after the event. All bookies are bent

[rich1471]

Bet365 boss Denise Coates has received a £323m payday, confirming her position as the UK's best paid executive.

The co-founder of the online gambling firm was paid a £277m salary plus dividends as the popularity of online gambling continues to grow. you would have thought they could offer better odds as well if she gets paid this much

[Prez]

I bet for a living, been doing it full time for 2 years now, after doing it years on the side as to my main job. Actually bet365 are still by far the best bookie. For example they are the only bookie now to offer BOG on horse race meetings the night before. Needless to say must have had 30 plus accounts closed over the years with them and im guessing a 100 in total including other bookies. The betting industry has been revolutionised due to the internet and Betfair, where you can price match and trade. Sadly though the bookies can still do as they will, and like Gaz says its possible to have accounts restricted even if you have placed losing bets.

[SydneyRover]

Gambling watchdog bans credit cards for online betting sites

Move follows warnings from campaigners that gamblers risked racking up huge debts

https://www.theguardian.com/society/2020/jan/14/gambling-watchdog-bans-credit-cards-for-online-betting-sites


Tough on winners but they're few on the ground

[Glyn_Wigley]

As the others have said, this is standard practice and has been for years. Many, many years ago I was in the bookies beside Donny market when the manager refused to take anymore bets from a bloke as he’d been winning too much! He began going nuts and the police were called. Turned out the bookies were acting perfectly within their rights!

Just like anyone else selling stuff, they have the right not to sell to someone if they don't want to. However, with bookies it's even worse. Back in the days of Off-Course Betting Duty when I used to audit bookies' Duty Returns, gambling debts were not legally enforcable so bookies could not only refuse to take bets they could refuse to pay out winning bets and the punter could do nothing about it. I think it's still the same but I could be wrong.

[tommy toes]

Bookies can no longer refuse to pay out on legitimate winnings.
The independent Gambling Commission was set up to deal with this, among other things betting related.

[Draytonian III]

What about if you use those machines in the bookies, not the fruit machine type thing but the ones that you can use for doing your football bets , they won’t refuse your money. You can bet on all sorts on those including horse racing and usually better odds than those displayed on the multi screens

[Sprotyrover]

I met a professional gambler whilst working in Prison, he was a Supermarket Manager who Borrowed £38 k takings and put it on a 'Dead cert'!!!