General Betting
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Has anyone ever had a negative "available to bet" balance?
Having placed bets with Betfair for years, this is the first time I have encountered this. I was under the impression that the lowest you could have available to bet would be nothing!!!
Having placed bets with Betfair for years, this is the first time I have encountered this. I was under the impression that the lowest you could have available to bet would be nothing!!!
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Replies: 7
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I remember someone else having this years ago.
Do you have any bets on winners/relegation on football, tennis tournaments, etc? You might have some money being flagged as to be settled today. |
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If you bet your entire balance on a single selection, and get a 1p or 2p rounding error on matching, you can end up negative a penny or two. If you're really unlucky and a market's settled wrongly and you spend your supposed winnings before it's resettled, you can end up negative to the size of your not-winnings.
Otherwise, as shapeshifter says, if you've bet on (eg) the Premiership relegation market, if your losing selections are settled before your winning ones (because they become mathematically sure to go down or safe from going down, depending if you're backing or laying) you can end up with the market concerned being very, very green but your account and available to bet very negative. |
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If you keep very little money in your account overnight, then, on a Wednesday lunchtime, when Betfair dip their filthy mitts in your account and steal money under the disgraceful premise that you have qualified for the Premium Charge, then you may find yourself with negative equity.
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Think I've had it before with retained commission on the golf markets.
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I had laid some horses that I thought would drift(pricewise after the lemmings had been in) and then betfair took out the pc charge and I had a balance of -1400 so I tried to bet back the horses I had laid and of course it wouldn't let me even though all I was trying to do was cancel out the original bets.Ended up having to deposit to cancel the 4k liabilities I had before the pc came out.
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Aye, both retained commission and PC can be responsible for this.
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ive had bets wrongly settled withdrawn money and ended up in negative balance when resettled
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