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Chit Chat
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I was informed that if I want to lodge cash into my betfair account I can walk into any paddypower shop in Ireland and hand my cash across the counter and it will be in my betfair account straight away.I think this is a great move by the paddypower/betfair company.Normally I have to win it in a paddy's office and then go to the bank to lodge and then deposit by debit card.So well done betfair and if I could withdraw the same way it would cut out a five day wait.but as I say well done betfair a positive move it the right direction.
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I also think this is a massive plus for the young punters.Because bank managers don't like to see their customers placing money into gambling companies.And young punters will be looking for loans to buy a house.And deposits to gambling don't go down too well with bank managers.
 So this new betfair idea is a real plus for all . |
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The instant withdrawal facility (via cash card plus) that PP now offers, is an absolute no brainer roll out for Betfair.
But they'll probable hold on to the idea that the subsequent increase in turnover from cash flowed, recycled money, isn't as profitable as money that they can bury in the sand. |
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I have a paddy card and if I win online I can collect within 20 minutes in a paddy shop,(its says I can withdraw at an atm machine also but the withdrawal would appear in big bold print PADDY POWER BOOKMAKER WITHDRAWAL on my bank account).I hope betfair go the same way, I think its a brilliant idea,.And any guy knows that most wives, and bank managers, don't like the big bold deposit to bookmakers.Some people think that gambling is a losers game.but both wives and and bank managers are your best buddies when you win.
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You got the wrong card mate. there's no link to your bank account. The cash card plus is completely independent and is just an ATM card linked to your betting account. Deposit in cash and there is no paper trail at all?
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if the other bookmakers don't follow ,paddypower/betfair will run all the rest into the grave,because in this day and age most punters have an online account and now paddypower/betfair have made it very easy for a punter to get his online cash into his hand and its more private .I think its a great move.
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paddy has machines in his Dublin offices where you put card in and the cash comes out.im told he has hole in the wall machines also but im not sure if this is true.
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I thought this was the same as when i recently received a text from betfair saying that I had won in a promotion of theirs
.....followed by another text some time later saying it was a mistake  |
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Been doing this for years..... Cash in....., cash out .... with purple\laddies
Use my local lads shop like a bank |
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when I withdraw on my bank account card from paddypower it takes 2 days to reach my account,but if I withdraw from betfair its takes 4 to 5 days to reach my account yet both payments come from London.Betfair should charge a small fee to be paid and offer same day delivery this would get them more profits and customers would love the idea of same day delivery.They could call it rapid reaction transaction fee."But boy it would be great to win at 2.30 in the afternoon and have your winning in your bank account 2 hours later."
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PP do a card which is linked to your betting account, not bank account and is instant at a cash point.
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let me give an example as why the slow payments of betfair has a serious effect on their business.
this guy (we will call him John ).John has 200 quid in his bank account today.He also has a direct debit on his new car due to be paid on Friday 9th june.John fancies Frankie to win a race tomorrow but all he has is his 200 quid for his car payment.So John thinks to himself if a put the 200 on Frankie to win I can put the winning back into the bank after the race and it will cover the car payment.But then he says to himself"no good doing the bet with betfair because if Frankie wins I will not get my money until Tuesday"So he takes his money and backs Frankie in a bookie office. Now=if betfair had a rapid reaction transaction fee same day delivery of winning"he would have no hesitation of backing Frankie with betfair,and any real punter should understand and identify with what im am saying.ITS how a gamblers mind works. |
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gl getting the 2 on in the "bookie" office john FOBT sure thing
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but my point is that its only a punter that knows how a punter's mind works.
And I bet you that there are thousands of betfair customers that need money every day and because they cannot get same day winnings they avoid placing the bet with betfair.But if it was only a 5 quid charge for same day delivery most customers would avail of it,because betfair have the best prices. And I bet there are a lot of run of the mill betfair customers who don't need processing of withdrawals its automatic . And betfair would make millions on this speedy withdrawal fee. |
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Of course it would mead loads of overtime for the betfair payment department team with extra big bonuses.
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mean
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brassneck is spot on, why dont they do 'instant withdrawals' makes no sense.
I'm sure they'd also find there's loads of people who would happily 'sell' their postion in long term markets for a fee. Lets say youve put an early bet on Chelsea in the PL and green up and take profit to release the cash. £1000 profit im sure many would sell for £995 when they need to release some funds. |
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Presumably, the current thinking is that if you can't get your hands on your winnings quickly, you'll be more inclined to lose it back.
What Betfair presumably can't and don't quantify, is that many punters - where cash flow is an issue - won't deposit in the first place. |
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Every time you do a transaction on a debit or credit card, the banks charge a small fee. Betfair (in fact all companies) absorb this charge because they know your average punter loses long term (and they restrict the winners if they do). I'd reckon many people will deposit £10 and lose, deposit £10 and lose, deposit £10 and lose, deposit and maybe win £25 back and withdraw. That's 4 transactions Betfair pay for yet only profit net £5. These cards are just to ensure they get all of that £5 profit.
Cheers Brassy, I found some money on a few site's I'd forgotten about. £60 was on PP which I have one of those cards. |