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Author Topic: Discussions about: Staking - Betfair Football Trading  (Read 404367 times)
Boba Fett
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« Reply #375 on: June 18, 2010, 06:09:08 PM »


If what we've been told is the truth then Blatch has made a mistake, tried to rectify it (in the wrong way), made things worse and is now trying to rectify them the right way.

If that is the case then at no point has he acted maliciously towards anyone (i.e. deliberately misusing their funds)
I disagree, when I enquired about investing for the world cup I was led to beleive it would be part of the fund to be traded with. However this is clearly not the case and obv the extra money reinvested was done so under false pretences to be used to spin up(deliberately misusing the money)
in the hopes of spinning it up to recover the originally invested money.
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The Baron
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« Reply #376 on: June 18, 2010, 06:09:31 PM »

We need an auditor (that understands Betfair, arbing and betting in general) to comb over the account.  Someone like Chompy (sorry mate!) who doesn't have a shilling in (I don't think) that can probe for evidence of what happened.

Some people don't seem to understand that if the fund was being "borrowed" to trade IR, it could have been successful many times over.  Then with a Liverpool lay going tits up with 15 minutes to go, it suddenly becomes a "sleep in".

I don't know which version is true, but a decent audit gets rid of the speculation.  There shouldn't be any money in play IR on the account.  If this truly was a tragic accident, it obv hasn't been dealt with very well, but at least we will know what we are dealing with.  

Some questions:

1. How many times in the season was money in play IR?

2. Was the Florida holiday an attempt to recoup the losses?

3. What happens to the WSOP stake?

4. Detailed breakdown of the cashouts?

5. What evidence is there to contravene the contention that the sudden downswing was a 'paper trade' downswing designed to reduce the account balance?


This. Saved me a long post.
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MANTIS01
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« Reply #377 on: June 18, 2010, 06:10:44 PM »

Why did you still accept peoples money last week.Huh???

I know everyone can feck up but if this was 3 months ago
and you still pm'd me asking if I was wanting to be involved
last week.

This is the bit ethically doesn't compute!!!!

Seems to have started 10 months ago, its uneithical to ask you to join definately but his motive was obv to get funds to spin up and try to rescue it with a miracle.

Asking for funds to try and spin it up is called grimming btw
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« Reply #378 on: June 18, 2010, 06:13:39 PM »


Hi Simon,

I realise this is only an answer to the first of your points but I've pm'd blonde member 'Sighmuns' who is also a member of BF staff to see if he can take a look into this for us as I'm certainly not qualified to do so.

If someone like Chompy is willing to do this I'm happy to pass over log in details.

Cos

Cos,
It would be a laboured task, but even without Betfair assistance it can still be done by cross-checking times of trades and times of kick-offs?

If there were loads of similar trades that were successful and then palmed off to a different account, withdrawn (or otherwise chip-dumped) then clearly the fund was being used to buy money for personal use.

If that was the only live position during the season (OK 2 with the man C game) IR then the fund was more likely to have been used properly and the sleep-in is more credible.
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« Reply #379 on: June 18, 2010, 06:15:08 PM »


Hi Simon,

I realise this is only an answer to the first of your points but I've pm'd blonde member 'Sighmuns' who is also a member of BF staff to see if he can take a look into this for us as I'm certainly not qualified to do so.

If someone like Chompy is willing to do this I'm happy to pass over log in details.

Cos

Cos,
It would be a laboured task, but even without Betfair assistance it can still be done by cross-checking times of trades and times of kick-offs?

If there were loads of similar trades that were successful and then palmed off to a different account, withdrawn (or otherwise chip-dumped) then clearly the fund was being used to buy money for personal use.

If that was the only live position during the season (OK 2 with the man C game) IR then the fund was more likely to have been used properly and the sleep-in is more credible.

Hi Simon,

I'm happy to do this with you if you want?
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« Reply #380 on: June 18, 2010, 06:19:50 PM »

We need an auditor (that understands Betfair, arbing and betting in general) to comb over the account.  Someone like Chompy (sorry mate!) who doesn't have a shilling in (I don't think) that can probe for evidence of what happened.

Some people don't seem to understand that if the fund was being "borrowed" to trade IR, it could have been successful many times over.  Then with a Liverpool lay going tits up with 15 minutes to go, it suddenly becomes a "sleep in".

I don't know which version is true, but a decent audit gets rid of the speculation.  There shouldn't be any money in play IR on the account.  If this truly was a tragic accident, it obv hasn't been dealt with very well, but at least we will know what we are dealing with.  

Some questions:

1. How many times in the season was money in play IR?

After having the initial loss, I did use the account in running sometimes to try to get some of the previous losy money back

2. Was the Florida holiday an attempt to recoup the losses?

The holiday in Florida I didnt pay for.  My sister was taking her family and there was a spare room in the Villa.  The flight was a birthday and xmas present.  All I paid was spending money which came to aroudn 600.

3. What happens to the WSOP stake?

Sadly this has gone too but I will certainly include this when I try to repay all the money.

4. Detailed breakdown of the cashouts?

There were no cash outs at all from the account.  I did however make extra additions to the account whenever I had a bit of spare money.  I tried to put any extra money I had in the account to help get the account back to the level it should have been at.

5. What evidence is there to contravene the contention that the sudden downswing was a 'paper trade' downswing designed to reduce the account balance?

Not sure what you mean here
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Murph1984
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« Reply #381 on: June 18, 2010, 06:21:46 PM »

We need an auditor (that understands Betfair, arbing and betting in general) to comb over the account.  Someone like Chompy (sorry mate!) who doesn't have a shilling in (I don't think) that can probe for evidence of what happened.

Some people don't seem to understand that if the fund was being "borrowed" to trade IR, it could have been successful many times over.  Then with a Liverpool lay going tits up with 15 minutes to go, it suddenly becomes a "sleep in".

I don't know which version is true, but a decent audit gets rid of the speculation.  There shouldn't be any money in play IR on the account.  If this truly was a tragic accident, it obv hasn't been dealt with very well, but at least we will know what we are dealing with.  

Some questions:

1. How many times in the season was money in play IR?

2. Was the Florida holiday an attempt to recoup the losses?

3. What happens to the WSOP stake?

4. Detailed breakdown of the cashouts?

5. What evidence is there to contravene the contention that the sudden downswing was a 'paper trade' downswing designed to reduce the account balance?


Great post,especially question 5.

First it's assuming that the money was "lost" unintentionally,ie he really did sleep in and so never traded out.

If that is the case,it's very hard to believe that he was genuinely "paper trading".It seems a lot more conceivable that having found himself in a real hole he resorted to faking losses out of deperation in order to slowly get the account balance as far as investors were aware down to what it was in reality,nothing,resulting in him not oweing anything and everyone walking away saying they knew the risks involved.

That is not a nice possibility but it's better than the other,that he straight out stole the money.

I'd like to believe thngs were not this sinister but the fact he swanned off on holiday,several times bragging about the extravagance of that holiday after he supposedly lost 70/80k of other peoples money after sleeping in makes it difficult.
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« Reply #382 on: June 18, 2010, 06:22:16 PM »

so you used and lost peoples wsop money in you trying to re coup the loss?
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« Reply #383 on: June 18, 2010, 06:24:54 PM »

Posting up the last 3 months transactions would be a start in showing us that point 5, (ie the recent losses were real) is not something we have to worry about....
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LOJ
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« Reply #384 on: June 18, 2010, 06:25:42 PM »



I have already started applying for jobs and every spare penny I get will towards giving people there money back.

I am quite angry, especially as it seems that me and brother seemed to have invested after this liverpool game where it had all gone wrong, and that taking the money was only making a situation worse, but I suppose would give you some funds to try and build the bank up.

Anyway a suggestion straight away from me that I think an account should be opened by a Blonde Mod, and if you a rightly going to repay the money (however much time it takes) you should credit this account to ring fence it, and let the blonde team transfer it back to investors from this account (should they be happy to do this)..

Good luck with getting back on track, I think you may need it.

^^^^^^^^^^

THIS IS WHAT I WANT TO KNOW!!!!  Why take money off people after the first fuck up!

Looks like the biggest grime in history to me.

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pleno1
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« Reply #385 on: June 18, 2010, 06:27:43 PM »

was wsop main event or $1500
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« Reply #386 on: June 18, 2010, 06:28:14 PM »

Posting up the last 3 months transactions would be a start in showing us that point 5, (ie the recent losses were real) is not something we have to worry about....

Those losses were not real.

He said he was "paper trading",basically means he was recording what he would have done if the account had the funds it should have.

Of course like I say,it looks like he was just trying to bit by bit make the fictional balance(ie what it would be without the sleep in) equal to the real balance which was zero.
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redsimon
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« Reply #387 on: June 18, 2010, 06:28:45 PM »

well i half know about this, but there is another blatch staking thread for poker where people have sent funds - are they cool?

staked blatch for wsop and 5/10 game soft or not. Hopefully he's still going to Vegas? If not can you  sort out a staged repayment plan (waiting for $260 will hardly kill me) by pm plz Neil?


...tbh I always write off one off stakes in my records Smiley
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The Baron
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« Reply #388 on: June 18, 2010, 06:30:22 PM »

Posting up the last 3 months transactions would be a start in showing us that point 5, (ie the recent losses were real) is not something we have to worry about....

Those losses were not real.

He said he was "paper trading",basically means he was recording what he would have done if the account had the funds it should have.

Of course like I say,it looks like he was just trying to bit by bit make the fictional balance(ie what it would be without the sleep in) equal to the real balance which was zero.

Gotcha, cheers Murph.

Shocking really.
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George2Loose
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« Reply #389 on: June 18, 2010, 06:30:39 PM »

well i half know about this, but there is another blatch staking thread for poker where people have sent funds - are they cool?

staked blatch for wsop and 5/10 game soft or not. Hopefully he's still going to Vegas? If not can you  sort out a staged repayment plan (waiting for $260 will hardly kill me) by pm plz Neil?


...tbh I always write off one off stakes in my records Smiley

I can confirm Neil is not going Vegas.
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