Betfair account closed - Funds with-held

[JohnT]

Grow up LeTiss---I agree Megarain is a legendary figure but we live in a World where we all lie when it suits us.

I've been around gamblers for 35 years and they're the most untruthful of any group.

The very first paragraph of his opening post contains a provable lie.

[Euler]

The key here isn't about Megarain, it's about how arbitrary Betfair have been.

It just doesn't make business sense.

[Derek27]

Grow up LeTiss---I agree Megarain is a legendary figure but we live in a World where we all lie when it suits us.

I've been around gamblers for 35 years and they're the most untruthful of any group.

The very first paragraph of his opening post contains a provable lie.

Speak for yourself!

Lying, bragging, claiming you've achieved things you haven't, is a teenager/young man's game, and older men with that mindset.

[JohnT]

Please give a single example.

[JohnT]

The key here isn't about Megarain, it's about how arbitrary Betfair have been.

It just doesn't make business sense.

It sounds like they tried their best to keep him--6 months investigation and being able to use his account during that period.

We lack a vital piece of information.

[JohnT]

Just a hunch Euler--I think the £4000 deposit might have been cash over the counter
at a Paddy Power shop.

[conduirez]

Just a hunch Euler--I think the £4000 deposit might have been cash over the counter
at a Paddy Power shop.

It's one thing disagreeing with someone, its another saying they are lying or deliberately trying to mislead you about what they are saying.

You need to cut some slack, because under current affordability and AML legislation you are guilty until you are proved innocent. Betfair take the closing account option for anything, because its cheaper than paying the fine, if they get it wrong.

It happens too many times, and could happen to anyone.

[JohnT]

Just a hunch Euler--I think the £4000 deposit might have been cash over the counter
at a Paddy Power shop.

It's one thing disagreeing with someone, its another saying they are lying or deliberately trying to mislead you about what they are saying.

You need to cut some slack, because under current affordability and AML legislation you are guilty until you are proved innocent. Betfair take the closing account option for anything, because its cheaper than paying the fine, if they get it wrong.

It happens too many times, and could happen to anyone.

Megarain comes across as a great guy who seems to live life to the full and his record on Betfair is amongs the very best of the best.

I owe Betfair more or less everything I've got and I will always protect them against questionable accusations.

Both the trading and the affordability teams have had me pulling my hair out on many occasions and three times I've had to email Peter Jackson which is something I hate doing.

But I never forget that they supply our customers and perhaps the odd headache is a fair price for only paying 2% commission.

[Hepburn]

I think John has Netflix Syndrome.

[Derek27]

Just a hunch Euler--I think the £4000 deposit might have been cash over the counter
at a Paddy Power shop.

That's not a hunch, that is very, very, very wild speculation!

[megarain]

This is all getting side-tracked but putting Sherlock hat on, on page 1

The 4k deposit into my bank was winning cash on the racecourse. I was hedging a v large punters on-course racing bets and gave Betfair maybe 6k in 2 hrs. Maybe this spike hits a detection algorithm and stuff ensues.

I v rarely transferred into my account, and can't remember ever transferring more than 2k at one go - I just didn't need it.

Bf compliance asked for investment documents. I would have been better selling some shares and using that as a source of income.

It does seem if you have decent sums of cash and you decide to bank it, Bf will get windy and things may ensue.

//

TBH all this is irrelevant. the document they last requested was a Revolut statement which was a 1k trf into Bf, funded by a 2k cash deposit I think, thou the cash was deposited a bit earlier earlier. That seems to have been the final straw .. which I cant fathom.

[wearthefoxhat]

This is all getting side-tracked but putting Sherlock hat on, on page 1

The 4k deposit into my bank was winning cash on the racecourse. I was hedging a v large punters on-course racing bets and gave Betfair maybe 6k in 2 hrs. Maybe this spike hits a detection algorithm and stuff ensues.

I v rarely transferred into my account, and can't remember ever transferring more than 2k at one go - I just didn't need it.

Bf compliance asked for investment documents. I would have been better selling some shares and using that as a source of income.

It does seem if you have decent sums of cash and you decide to bank it, Bf will get windy and things may ensue.

//

TBH all this is irrelevant. the document they last requested was a Revolut statement which was a 1k trf into Bf, funded by a 2k cash deposit I think, thou the cash was deposited a bit earlier earlier. That seems to have been the final straw .. which I cant fathom.

Revolut could be the reason for sure.

Their record for security has been poor (hacked) and as they are linked to crypto transfers, the AML red flags may have triggered and you've innocently been swept up in the whole security check processes.

[jimibt]

This is all getting side-tracked but putting Sherlock hat on, on page 1

The 4k deposit into my bank was winning cash on the racecourse. I was hedging a v large punters on-course racing bets and gave Betfair maybe 6k in 2 hrs. Maybe this spike hits a detection algorithm and stuff ensues.

I v rarely transferred into my account, and can't remember ever transferring more than 2k at one go - I just didn't need it.

Bf compliance asked for investment documents. I would have been better selling some shares and using that as a source of income.

It does seem if you have decent sums of cash and you decide to bank it, Bf will get windy and things may ensue.

//

TBH all this is irrelevant. the document they last requested was a Revolut statement which was a 1k trf into Bf, funded by a 2k cash deposit I think, thou the cash was deposited a bit earlier earlier. That seems to have been the final straw .. which I cant fathom.

Revolut could be the reason for sure.

Their record for security has been poor (hacked) and as they are linked to crypto transfers, the AML red flags may have triggered and you've innocently been swept up in the whole security check processes.

we all must hold our breath until jaunty (john t) gives us the next instalment i suppose

[CloseBets]

Two sides to every story and we don't know how megarain's funding circle all balances up, I'd imagine anyone using Revolut to fund an account is bound to be looked into as they're a known bank used for scams. I can understand why he may use it to keep the main account clean of betting but sadly creates another rabbit hole for investigators to go down. I've recently had to dump over a hundred grand to my daughter to help buy a house and the amount of hoops you jump through to prove the money is legit is a nightmare especially when it comes from gambling.

I'd take a step back for now and let things run it's course, it's only a few hundred in the account and you'll get it back sometime but you never know when you might want to use that Betfair account again, no point cutting off your nose to spite your face.

[megarain]

Thats solid advice.

Recent withdrawals from Betfair into a bank account, give no misdirection where its come from - (Betfair Uk)

I don't want that on any bank statement, so, the few deposits I made had to be a 3rd party like Paypal/Wise/Revolut.

I don't think it is wrong, indeed it's 100% right (unless you want your bank account closed)