Aus Cross-Matching Residual Funds Distribution

Got this too, last aussie market I bet on was the world cup.

"As you may realise, many Australian markets offered by Betfair employ cross-matching, a process that increases the likelihood of customers’ bets being matched through a specifically-calculated algorithm.  (For more detailed information on cross-matching on Australian markets, please visit cross-matching.betfair.com.au/.)

Over time, the cross-matching process on Australian markets results in the accumulation of a small amount of residual funds within our internal matching account, which we are required to distribute to eligible customers at certain intervals.

Customers who have placed a bet in an Australian exchange market that employs cross-matching since the last distribution of funds will be entitled to an allocation of a share of these funds.

As any Betfair customer throughout the world to have placed a bet in an Australian cross-matching market is entitled to a share of the distributed funds, the relevant amounts per customer are quite small.

This announcement is to inform Betfair customers that a redistribution of funds has begun to take place today Wednesday October 19 2011, with all funds being distributed by next week. Funds will be deposited into customer’s Australian wallets, in their local currency.

If you have any further queries, please contact our Help Desk on 1300 238 324 for Australian customers and 0800 567002 for New Zealand customers or you can email us at ausinfo@betfair.com.

Regards,
The Betfair team. "

http://community.betfair.com/australian/go/thread/view/93998/28592767


Luckily for Betfair the gambling authorities outside of Australia couldn't care less if they skim extra funds from the much larger non AUS markets and they get to keep all that cash they pickpocket.

Thanks for posting the explanation.

got a few quid

Leaves you to wonder: Will Gibraltar/Malta gaming laws acknowledge same findings as the Aussie gaming authorities?
;)

Will invest the few quid I got from the Aus markets.. Must be great news to primarily the the major Horse -and Cricket traders..

everybody got £2.43 regardless of how much or how little you bet

I didn't, and I'm all over the aussie markets.

where's my £2.43??

I didn't get it either.  I'll get in touch with them if not here by the end of the week.  They seem to have been drip feeding for a while now on this project given those technical issues they had.

The correct explanation is as follows:-

'Since the plummeting share price of betfair we do not feel that is appropriate to serve bubbly at the shareholders meetings, we have therefore  decided to refund the amounts we skim off the top that is normally put away to pay for the champers.'

betfair made 5 million on this  Cross-Matching  not against  the law but betfair was told to tell us about it by the law,they had a time frame to tell us they on the last day.if aus told to hand the money back to people they should do it here as well.we all should  get a small sum 10 times better than 2.43

they did tell us on the last day