New Posts For Thread: What if Betfair went bust??!!https://community.betfair.com/general_betting/go/thread/view/94082/29977769/what-if-betfair-went-bustHi, is my lifes savings in my betfair account safe!!?? What happens if betfair goes bust, have I lost all my money or is it insured at all? You say it's unlikely to ever go bust but what if a rumour started and everyone tried to get the money ouTHEY COULD NEVER TAX GAMBLING WINNINGShttps://community.betfair.com/general_betting/go/thread/view/94082/29977769/what-if-betfair-went-bust?post_id=533365475#533365475THEY COULD NEVER TAX GAMBLING WINNINGSTue, 25 Jun 2013 05:07:32 -0500Knowing the CONS, wont be long before they tax gambling, like they did spare bedrooms, if they could tax the oxygen we breathe they wouldhttps://community.betfair.com/general_betting/go/thread/view/94082/29977769/what-if-betfair-went-bust?post_id=533308613#533308613Knowing the CONS, wont be long before they tax gambling, like they did spare bedrooms, if they could tax the oxygen we breathe they wouldSat, 22 Jun 2013 18:02:25 -0500So, currerently anyway, our funds are actually backed by the government, so should be safe unless Labour get back inhttps://community.betfair.com/general_betting/go/thread/view/94082/29977769/what-if-betfair-went-bust?post_id=533307649#533307649So, currerently anyway, our funds are actually backed by the government, so should be safe unless Labour get back inSat, 22 Jun 2013 16:58:22 -0500Around 83% I think, Mr Checking.https://community.betfair.com/general_betting/go/thread/view/94082/29977769/what-if-betfair-went-bust?post_id=533307141#533307141Around 83% I think, Mr Checking.Sat, 22 Jun 2013 16:35:54 -0500RBS are kind of nationalised already, doesn't the UK gov hold > 50% of the shares?https://community.betfair.com/general_betting/go/thread/view/94082/29977769/what-if-betfair-went-bust?post_id=533305465#533305465RBS are kind of nationalised already, doesn't the UK gov hold > 50% of the shares?Sat, 22 Jun 2013 15:40:19 -0500pm'd you pxb.https://community.betfair.com/general_betting/go/thread/view/94082/29977769/what-if-betfair-went-bust?post_id=533298357#533298357pm'd you pxb.Sat, 22 Jun 2013 11:28:45 -0500If the money was split over 5 banks and one of them went bust and the funds were lost, I think there's no way Betfair would pass it onto customers, they'd take the hit themselves.https://community.betfair.com/general_betting/go/thread/view/94082/29977769/what-if-betfair-went-bust?post_id=533298293#533298293If the money was split over 5 banks and one of them went bust and the funds were lost, I think there's no way Betfair would pass it onto customers, they'd take the hit themselves.Sat, 22 Jun 2013 11:26:41 -0500Betfair are extremely unlikely to go bust. If they ever got to that stage I am sure you would have already reduced significantly your deposit.I think I read that following 2008 banking crisis betfair made even more sure that their funds were distribhttps://community.betfair.com/general_betting/go/thread/view/94082/29977769/what-if-betfair-went-bust?post_id=533287855#533287855Betfair are extremely unlikely to go bust. If they ever got to that stage I am sure you would have already reduced significantly your deposit.I think I read that following 2008 banking crisis betfair made even more sure that their funds were distribSat, 22 Jun 2013 04:22:34 -0500the issue as I remember it was that there was an implicit conflict of interest when it came to BF defining the level of risk acceptable in where they held customer funds, and the trust document hadn't fully made that go away. it was nothing egregioushttps://community.betfair.com/general_betting/go/thread/view/94082/29977769/what-if-betfair-went-bust?post_id=533287719#533287719the issue as I remember it was that there was an implicit conflict of interest when it came to BF defining the level of risk acceptable in where they held customer funds, and the trust document hadn't fully made that go away. it was nothing egregiousSat, 22 Jun 2013 04:10:56 -0500I've wonderered if my money was safe too. Not Betfair but other bookies I use, mainly foreign ones.I had several open bets with Bodog last year and got really stressed when I found out the site had been closed down. One of them funnily enough was Murhttps://community.betfair.com/general_betting/go/thread/view/94082/29977769/what-if-betfair-went-bust?post_id=533287503#533287503I've wonderered if my money was safe too. Not Betfair but other bookies I use, mainly foreign ones.I had several open bets with Bodog last year and got really stressed when I found out the site had been closed down. One of them funnily enough was MurSat, 22 Jun 2013 03:48:12 -0500