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thinking seriously about this i have bets as far as 2 years to come world cup football etc, i always have few grand in my acct , so if i passed away my next of kin would probably have massive job getting money back from betfair , wondering if better to include spouse in acct to save the hassle , so can you add a partner on your acct ? can imagine many have passed away with money in betfair . ( ps i know im suspended at the momrnt ). honestly reckon many of us should think of this incase !
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Replies: 46
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I d be amazed if any punter wanted his wife having access to his account.
This would shut down racing quicker than the gambling commission. |
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 Very true.Leave your log in details in your will! |
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Went to aintree years ago,left computer logged in Betfair,I’m betting on phone,wife’s clocking 2k up after 3 races..
Told her it was my mates bets cos he couldn’t get on. |
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they have "inactivity charges" which gradually erode the funds. The Gambling Commission thinks this is ok because it thinks people would have lost the money anyway.
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I think it's best to contact betfair for advice. Otherwise, the account could be locked and create a lot of unnecessary hassles. The bookie could cop the lot.
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Don’t just leave the details of your account / bets.
Also include some guidelines for what the bets / selections are and if to cash out or not. I’ve got one AP acca where one of the legs is Travis Hunter at 18/1 for the Heisman. Ain’t no way anyone related to me will know what that is. |
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dave1357 Joined: 05 Sep 10
Replies: 2149229 Sep 24 18:34 they have "inactivity charges" which gradually erode the funds. The Gambling Commission thinks this is ok because it thinks people would have lost the money anyway you sure about that? this account isnt being degraded and hasnt had a bet for 2 years. maybe logging in is enough? i was using account of geezer that did himself in. no chance of getting paid. lucky id just had a major wothdrawal |
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Perhaps,Betfair/ bookies should email cust,if account not used after 6/12 months,to let them know their is money in account,if no reply,try and contact a relative to see if alive.then offer relative the money.
Or they can just let it go dormant. |
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log ins count to prevent the fee
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if relatives know you have an account getting the money is straightforward and not much different to any bank account, but the issue for many gamblers is they have multiple accounts and family may have no clue about what they hold
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Hence,no activity,triggers an initial email.
No response,proof of life,if dead,offer money to relative. |
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you could trigger an email but no one in my family would see it, if someone has passed away the only fix is you have a next of kin / nominated person on your account that could be copied in should they be about to start taking funds
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Tell your next of kin that if you pass away she, I presume, is to access your BF account, leaving her the sign in details obviously, and withdraw everything to your bank account
Then leave it a few days before informing bank of passing away |
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It’s low down on my list of priorities.
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Actually I had a look and they appear to have abandoned the inactivity fee some time after july this year:
july 02 14.1 Save as set out in the clause below, information about inactive Accounts, including applicable administrative fees and the procedure by which you will be informed that such a fee will be charged, can be found in paragraph 7 of the Betfair Charges page under "Inactive Account Fees" now 14.1 Betfair does not charge inactive account fees. |
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Rule 17.1. We just make it up as we go along,overrides these rules anyway.
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The main point is everyone is going to pass away someday.in other words "
 its going to happen" |
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This thread will cause a drop in ante post bets
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Too right,I’m on the Hilary steps,in the death zone.
It’s pure random luck whenever it will be, 10 more good years would be nice, Any longer ,it’s just hanging around,for the odd moment of joy. That’s why you have to leave everything on the pitch,no regrets. |
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yes Regbutler, but like i say you might have loads of ante post bets , so if bank acct closed i could think massive problems getting these lot to withdraw funds
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OK elise, I didn't think that bit through...
So, you'll have to leave instructions on how to trade out for a profit or loss in all the ante post markets, ie monetise all positions Then withdraw all funds, leaving balance at zero Wait a couple of days for money to hit the bank account and close it Or, just leave me or some other responsible forumite all your login and bank details? |
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Responsible forumite.
Everyone is fooking mental.it makes one flew over the cuckoos nest look sane |
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Comingupthehill...
As I'm sure you know, it was a tongue in cheek remark Although, there are some on here I would trust... Not myself, by the way |
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Obviously,
It dosent bode well when someone helping says don’t trust me |
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Comingupthehill, I thought I was doing the wind up
Now I'm not sure |
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As long as your good lady knows you have a Betfair account then it will be settled as part of your estate. I'm not sure how they handle open positions however.
On a separate note for info, any inactivity charges taken by Betfair are fully refundable on request. |
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i have instructions in my will that whatever profits are in my account when i head to the sky are to be divided between my four favourite forumites .i give my solicitor the 4 names.
 (but they are subject to change at any time,if someone annoys me) |
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Brassneck, you've always been my favourite forumite
Don't know why I didn't tell you before |
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The plan is working
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imagine sitting on your sofa on a cold winters day and £34 grand popped into your account .So you ring betfair ,and they tell you that old BRASS passed away last week end and you were one of the 4.
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elis..are you an addict and is your acc in prophet?
TIA |
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I'm guessing (hoping?) that somewhere you have documented all your bank, savings, investment accounts, pensions etc to make it simple for your wife to deal with your affairs if you predecease her?
If so (if not, please do, I've helped tidy up a few estates and it makes life much, much easier) just add an envelope containing a list of all your bookmaker accounts and usernames? |
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(I'm reminded of a motorcycling friend of a friend who died a few years back and left a sealed note for one of his biking buddies that said "please sell my bike kit for what it is worth, not what I told my wife I paid for it")
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Out of interest, how long would it take before an inactivity charge was levied on an account (not presuming BF do as above, but is it usually something like a year, 6 months?) either with here or other bookies etc?
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Just over a year I think - WH quotes 13 months.
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ok thanks - shouldn't really be allowed to charge them IMO, and when it was threatened to me in the past (though I forget details, hence question) I told them to eff off with any charge and shut the bookies account.
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obv that was a bookie, and they may have different rules for each I suppose...in any case I'd simply tell them to shove any charge they tried to use to turn an account into negative balance.
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