Discussions about: Staking - Betfair Football Trading

[Murph1984]

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.

[redsimon]

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

[The Baron]

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.

[George2Loose]

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

I can confirm Neil is not going Vegas.

[the sicilian]

Think you can safely say all stakes are gone and by what neil says he is busto...

Neils a nice guy and I wish him well but seems to me he may need professional help with gambling as this whole affair smacks of a classic underlying problem...

[pleno1]

also arbboy should be allowed back and give us some tipssss so people can make monies back.

[George2Loose]

Guys,

I just want to say I had abso nothing to do with this. I've had a couple of people ask if I was involved and you probably don't give a shit because you've all lost money but I had absolutely no idea what was going on. I would have advised him to post up the mistake rather than go chasing.

I spoke to Neil a couple of days ago and he assured me he still had the money- money I think a lot of us were relying on for different things.

This is why I was defending him so much on this very thread from arrboy. I'm not going to leave him out to dry. Despite what he's done he is still a friend but obviously it's going to take a while to repair the damage he has done.

[Teacake]

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.

This

Expect the worst people. Although not an investor in this scheme Blatch owes me $2k from a bet we made that I've been chasing since the beginning of May. He has been feeding me all kinds of shit, some of it plausible, some of it just plain ridic. Had been kinda expecting this outcome but hoping not. I have managed to get $600 from Blatch but will also be expecting my $2k at some point. He admitted to me last Friday that he was busto but had cashed in a 14 day notice policy that would have him back in black so didn't want to stir up anymore shit. At no point was the staking money mentioned, I presumed this ring fenced.

[Blatch]

so you used and lost peoples wsop money in you trying to re coup the loss?

afraid so

[LOJ]

Damage yeah!  taking cash of people after initial fuck up is just plain wrong. I havent invested as much as other people on here and I feel sorry for the ones that have invest £5k Plus.

Good luck lad.  Your going to need it.....

[Teacake]

Guys,

I just want to say I had abso nothing to do with this. I've had a couple of people ask if I was involved and you probably don't give a shit because you've all lost money but I had absolutely no idea what was going on. I would have advised him to post up the mistake rather than go chasing.

I spoke to Neil a couple of days ago and he assured me he still had the money- money I think a lot of us were relying on for different things.

This is why I was defending him so much on this very thread from arrboy. I'm not going to leave him out to dry. Despite what he's done he is still a friend but obviously it's going to take a while to repair the damage he has done.

I wouldn't defend him too much, he told me you were paying for his Vegas trip and knew about his temporary bustoness.

[GreekStein]

best of blonde?

fuck off you silly *****

[Horneris]

wtf, why is everyone being so nice to him.

All i keep reading is "Neils a great guy", "Good Luck for the future".

Hes done in £80,000 of peoples money, money that some of the people couldnt afford to lose without breathing a word for 6 months. (i know it was a gamble but they couldve got out if they lost a certain % of their investment).

Sleeping in is no excuse, in this situation i wouldve set like 6 alarms minimum.

What an absolute bellend.

[Silo Graham]

After not getting up on time and losing 8k-10kish (rough guess) how can you go away on a poker school and just forget that you have money tied up?  Surely you'd be damn concious every time you have money tied up after making one mistake?

And, the Vegas staking was set up just to get money back from this?  Was it never the intention to go?

This isnt one big wind up is it?  There's so many things that I just can't get my head around.

[Blatch]

Guys,

I just want to say I had abso nothing to do with this. I've had a couple of people ask if I was involved and you probably don't give a shit because you've all lost money but I had absolutely no idea what was going on. I would have advised him to post up the mistake rather than go chasing.

I spoke to Neil a couple of days ago and he assured me he still had the money- money I think a lot of us were relying on for different things.

This is why I was defending him so much on this very thread from arrboy. I'm not going to leave him out to dry. Despite what he's done he is still a friend but obviously it's going to take a while to repair the damage he has done.

I wouldn't defend him too much, he told me you were paying for his Vegas trip and knew about his temporary bustoness.

George never knew any of this , however George had paid for my flight and accomodation.