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sideshowbob
01 Jul 11 22:07
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Date Joined: 19 Oct 05
| Topic/replies: 11,645 | Blogger: sideshowbob's blog
I placed bets that were up on their site, the prices were overly generous and i presumed it was someones automatic software bot thing gone wrong.

Now they have locked my account, virtually accused me of fraud and wont release any of my funds or void the bets. They say they are conducting an investigation. Overall i have about 6k in bets and funds that i can only presume they are trying to steal.

I can't see why they would care if a customer has put silly prices up, so i presume the site themselves are laying bets to cover up empty markets.

Anybody who bets with this joke firm are taking a huge risk imo.

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Replies: 156
By:
Schalke 04
When: 01 Jul 11 22:10
You should start an inverstigation of your own against them !! That is shocking how they have locked your account !! Hope you have details of all your betting history should you ever need it .... that would be me seeing a lawyer if it were me
By:
Wilson1975
When: 01 Jul 11 22:13
what market was it mate and what was the overround??
By:
Rocket to the FACE
When: 01 Jul 11 22:16
Which market was it and what were the bets?
By:
sideshowbob
When: 01 Jul 11 22:21
MLB division betting. the prices were all over the place, and still are. I noticed that every 10 minutes a new batch of bets were put up, so i spent all day taking them. I never realised taking generous prices on a betting exchange could be considered fraud. fkn ridiculous!
By:
Wilson1975
When: 01 Jul 11 22:23
which division??
By:
Wilson1975
When: 01 Jul 11 22:24
guess it was east!
By:
Wilson1975
When: 01 Jul 11 22:25
what prices where you backing at like???
By:
sideshowbob
When: 01 Jul 11 22:29
the one with boston, though there were a few other crazy prices too.

im really annoyed. ive offered to let them void the bets, even though ive got greens of thousands, refund my money and close my account. cos im just so annoyed with them. i just want nothing to do with them ever again. but they wont even do that, just say i have to wait til the investigation is complete. total joke. what investigation?? either a customers (or more likely, their own) bot has gone crazy and i took advgantage. theres nothing to investigate! they obviously dont like it, well fine rip me off but give me my flipping stakes and other funds back!
By:
Wilson1975
When: 01 Jul 11 22:32
to be fair mate if them prices are up there ,they are available to back for anyone,what price did you get on boston at and new york yankees?
By:
sideshowbob
When: 01 Jul 11 22:32
boston kept being layed at over 2.0, so i just kept backing it. then when the price dropped to nothing money reappeared for all the other teams. so i kept backing every other team in the division then. was about a 90% book i think. how the hell is it my fault if a bot goes crazy? jesus.
By:
Wilson1975
When: 01 Jul 11 22:33
you only done what everyone else would have done, 90% book fill your boots!
By:
Rocket to the FACE
When: 01 Jul 11 22:36
You got a screenshot of the market ?
By:
Rocket to the FACE
When: 01 Jul 11 22:37
I can't believe their own bot  went overbroke for so long and with a high volume of bets without them noticing
By:
sideshowbob
When: 01 Jul 11 22:45
thing is it wasnt ever overbroke as such. it kept putting each team up at different prices til it was cleared out. like sometimes boston were a great price, then other times yankees were a great price. its obviously been set up to react to bets, but done wrong mathematically.

if it was a customer, and not their own bot, why would they care though?
By:
DivideByZeroError
When: 01 Jul 11 22:46
The other possibility (to a rogue bot) is that you happened to step into the middle of some money laundering scheme. In which case those prices weren't meant for you...

The question is: if you win a bet against someone attempting to launder money through a betting exchange does the exchange honour your bet? Gets to the heart of the idea of an exchange really.
By:
Rocket to the FACE
When: 01 Jul 11 22:48
Was it instant or were there noticeable delays between each bet flashing up after you'd matched it?
By:
sideshowbob
When: 01 Jul 11 22:52
surely anybody wanting to do a bit of money laundering wouldnt do it on a market that wont be settled for another 3 months though?

plus the thing that i dont get, they say other customers are involved. yet the prices are still a bit weird. ie its obvious the same person/bot is still laying prices, so their account hasnt been locked! suggests to me its their own bot
By:
sideshowbob
When: 01 Jul 11 22:54
the prices went up like clockwork every 10 minutes. but were different prices every time. and seemed to react to what bets had been placed. there was some system there, obviously i dont know exactly.
By:
Rocket to the FACE
When: 01 Jul 11 22:56
Well without knowing the full story I reckon their PR department should turn this into an exercise in excellent customer service.

They should allow you to keep the winnings and to spread their name on their competitors forum in a good way rather than a bad way.
By:
RMB ©
When: 01 Jul 11 22:58
£212k matched in that market! Laugh
By:
RMB ©
When: 01 Jul 11 23:03
Copy and paste, or show a screenshot, of your bets please ta. Then we can get a good idea of what went down.
By:
sideshowbob
When: 01 Jul 11 23:04
im just so disgusted with them. ive given them loads in commission over time and they treat my like this. they never even spoke to me and still refuse to talk about it. just account locked, funds locked, and a very threatening sounding email.



We are currently in the process of completing a full investigation into bets placed on your account. There are orders matched that are significantly outside the market average and we believe fraudulent activity may have taken and as such are investigating all accounts with a position in this market.



Our Risk and Compliance team intend to have the investigation completed next week and your account will remain suspended until all aspects of the investigation have been completed.
By:
Magical Feast
When: 01 Jul 11 23:09
ssb.

Did you place any bets on bf same market..?
By:
sideshowbob
When: 01 Jul 11 23:11
i have bets on all MLB division markets on there and here. mostly reds. how is that relevant?
By:
viva el presidente!
When: 01 Jul 11 23:13
complete joke of a firm. you could almost believe they were secretly owned by BF to prove how impossible it is to run a decent rival exchange.
By:
Magical Feast
When: 01 Jul 11 23:18
errr.. I heard a story once that on a specific market for a period of time.. the apparent bd/ bf cross matching whatever had got the sums wrong.


sounds v similar. and the bd response.
By:
sideshowbob
When: 01 Jul 11 23:19
confused. cross matching??

was it their own bot or a customer?
By:
Rocket to the FACE
When: 01 Jul 11 23:22
To be honest that email sounds quite reasonable to me.

They haven't said they won't allow you to keep your profit or that you are suspended full stop just that they want to figure out what happened before they release the funds. Sounds fair enough to me.
By:
sideshowbob
When: 01 Jul 11 23:26
you think? thing is i have like 3k on one even money-ish bet, no idea if it stands or not. if i get my money back or not. if i can cover it elsewhere or not.
By:
Magical Feast
When: 01 Jul 11 23:28
'something' on bd mirroring the bf markets . A bet on bf caused an incorrect offer on bd.

The same conclusion.. why would they be bothered unless it was them ... same type response .. fraud blockage ..etc.


p.s. I wouldnt know a bot from a butt
By:
sideshowbob
When: 01 Jul 11 23:29
plus i really got angry about the "fraudulent activity" bit. under what circumstances can placing a bet be fraudulent activity??? theyre practically calling me a criminal. for placing bets that they had up on their stupid fkn website!
By:
tier
When: 01 Jul 11 23:31
"why would they be bothered unless it was them .."

I dont know the figures but maybe if sums matched were unusually high they might suspect game fixing or sth?
By:
Rocket to the FACE
When: 01 Jul 11 23:32
Could you take a screenshot?

It would really help things.
By:
viva el presidente!
When: 01 Jul 11 23:37
thing is, what are they suggesting you might have done? what's the scenario where you "fraudulently" place bets on an exchange?

unless they're suggesting you've somehow hacked into their/someone else's system and caused the offers to be put there, how can matching visible offers on an exchange possibly be fraudulent?
By:
Rocket to the FACE
When: 01 Jul 11 23:40
Betfair frown on it too.

Otherwise I could swap money between accounts very easily.
By:
sideshowbob
When: 01 Jul 11 23:51
yeah thats the point in my mind viva. it feels like theyre trying to scare me into letting them keep all my money. fraudulent is just absurd.

the fact they wont even speak to me about it is pretty alarming. if they want to know what happened then ask me, its not like its a secret. if what i did was wrong then hands up i was wrong, but i didnt think it was because it happens all the time. people put up crazy prices they get taken. thats just how exchanges work.

as for swapping money, if its their own bot then they know that cant have happened. and if it isnt their bot, then how come the same style of bets are still there now whilst my account is locked. its a sparse market, im pretty sure theres only one person/bot been laying in it all season. yet theres still loads of money there now.

sorry im on my netbook, dont have screenshots on here. but if you look at the history you can see the prices and see what the prices were.
By:
Rocket to the FACE
When: 01 Jul 11 23:58
SSounds like it was an automatic suspend/email

If it was manual and it was their own bot then they'd suspend the market surely?
By:
Magical Feast
When: 02 Jul 11 00:00
By:
Magical Feast
When: 02 Jul 11 00:05
ssb I can understand if u dont want to answer feel free, but 'do you think' the bd offers were a direct result and in response to bf market matched bets.?
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