General Betting
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Apparently, customers are no longer allowed to have an exposure limit on their account that is higher than the total available funds.
This results in the absurd situation that, if our accounts are constantly growing (a big 'if' maybe!), and if we actually want to use all of the funds in our accounts, we have to contact Betfair every day to have those exposure limits raised.
I just an amusing conversation with one of the 'help'desk employees, in which I tried to get my exposure limit raised to a decent level (in the past, I've always had it above my total balance), but was refused.
This results in the absurd situation that, if our accounts are constantly growing (a big 'if' maybe!), and if we actually want to use all of the funds in our accounts, we have to contact Betfair every day to have those exposure limits raised.
I just an amusing conversation with one of the 'help'desk employees, in which I tried to get my exposure limit raised to a decent level (in the past, I've always had it above my total balance), but was refused.
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yeah - I found it strange when they said this to me. They seemed to suggest that the fact I had a certain amount in the account meant it was proof I could afford to lose it so it was ok for them to up the limit to any number below my balance. I felt like saying that I was in negative equity and every penny of cash I had was in my BF account, just to see what they would say.
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That's not all, in their T&C's there's a part about your credit rating.
They may not accept bets if they have "reason to believe" you are having financial trouble. WTF??? |
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After the Champions League matches yesterday evening, I've had to call them again this morning to get the exposure limit raised. Twice in 2 days!!!
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You have my utmost sympathy
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please explain ?
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If you're constantly laying 1.01's (silly example) and you do 100 bets at a time across many markets you want the bets to each be 1 point of your bank. Now, since we're pretending this strategy is profitable, over time your balance goes up but your exposure limit does not (unless you phone helpdesk and ask them to up it which they will). Since you make more money the more bets you can get on, it's annoying to have to up the limit constantly.
In the real world, this affects almost no one :) |
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Contrarian
After the Champions League matches yesterday evening, I've had to call them again this morning to get the exposure limit raised. Twice in 2 days!!! Thinly veiled I made loads on the CL matches post imo. So they didn't reduce your exposure limit from what it was previously set at, but subsequent raises will require a phone call every time? Presumably this is some sort of measure that's been put in place in the aftermath of the Voler La Vedette incident? |
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It'll be a total nightmare on partially settled markets where you've laid every selection.
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Beat The OverRound 22 Feb 12 09:15
That's not all, in their T&C's there's a part about your credit rating. They may not accept bets if they have "reason to believe" you are having financial trouble. WTF??? ________ if you were in the process of going bankrupt you might be tempted to throw everything on a 'final gamble' via a credit card knowing full well the outcome would be the same if you lost |
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Is this something new in their t & c's, because there's no change under "my account".
There it still says the same exposure limite that I raised it to years ago and those limits are way higher than my balance. |
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Thinly veiled I made loads on the CL matches post imo.
Not at all Rob. My point is just that the exposure limit was set very close to my account balance, and so even a relatively modest gain would require a reraising of the limit. |
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Just to elaborate:
If I have available funds of £100 Four players left in a tennis tourney, all at 4.0 I lay them all to lose £300 (100 each) After the semi finals, £200 gets added to my balance (but not my available funds) and £200 goes into exposure on the market. does that mean I can no longer have a bet until the tourney is over- that's certainly how it used to work! |
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Seems a ridiculous situation contrarian, problem with the 'help' desk is they can't grasp the difference between your available to bet balance and exposure limit. Having a low exposure limit means you can't close out certain situations in one go regardless of your position in the market.
Say I backed a runner at 11's for £1K, if my exposure limit was the standard £5K I wouldn't be able to close out in one bet as that bet would exceed my exposure limit even though I had a £10K green on that runner. If they're now limiting exposure to available funds I can see a lot of people getting caught out if they haven't addressed that quirk of the site. |
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Can someone please explain what this thread is all about, as my current exposure in "my account" is now higher than my account balance(due to the partially settled markets Lori mentioned), but I have no problem in placing bets increasing my exposure even more ?
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My exposure limit is the same as it always has been and is currently higher than my balance (I have no other open or partially settled bets). So not sure why it is affecting only certain customers Contrarian?
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If your exposure limit is higher than your balance, Betfair won't decrease it (I think).
What Contrarian is referring to is that if your balance touches your exposure limit, it can be a hassle if Betfair only allow you to increase the limit marginally above your balance, as it means you have to keep calling them if you are growing your balance (not withdrawing all the profit). |
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Thanks Investor, so this is only a factor when someone wants to increase their exposure limit.
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