Betfair and the 26 million lay customer account.

[gouty]

Does anyone think it is strange that this customer has not surfaced on any forum?

The CEO stated that the account had no commercial link to betfair other than being a customer. Well that customer must be the most discreet punter ever. It's surely an in house seeding bot gone mad?

Does anyone on here play a lot on bf and understand how unlikely it's a punter?

Al

[adnmdv]

Why, if it was you, would you post publicly about it?

[doubleup]

He has probably had to sign some sort of non-disclosure agreement otherwise others would try to imitate what his bot did.

[redarmi]

Does anyone think it is strange that this customer has not surfaced on any forum?

The CEO stated that the account had no commercial link to betfair other than being a customer. Well that customer must be the most discreet punter ever. It's surely an in house seeding bot gone mad?

Does anyone on here play a lot on bf and understand how unlikely it's a punter?

Al

If I had lost £600m and was being given a reprieve if I kept quiet about it I would think I could probably manage it.  What I want to know is if all bets are void on the race and this punter had less than £1k in his account then has he had all of his bets voided?  If so can my bets be voided if my bot screws up and if not have Betfair profited from the whole affair to the tune of his balanced because none of the money has gone to the punters.

[Chompy]

Matt Chapman asked a good question. How many bot users have less than £1,000 in their account?

[redarmi]

One question that has occurred to me is how the hell do you programme a bot to do in running racing?  Surely the price at least has to be a manual input in running?

[doubleup]

One question that has occurred to me is how the hell do you programme a bot to do in running racing?  Surely the price at least has to be a manual input in running?

maybe just very wide definition of bot ie he input if A happens then do B, then went for a cup of tea.  I use free API software just because it is much easier to use than the web interface.

[boldie]

Matt Chapman asked a good question. How many bot users have less than £1,000 in their account?

Yeah + why not issue the promised "very technical statement" that they promised right after the affair? As soon as they said the statement would be "very technical" I thought.."Wool over eyes"? But then they don't even decide to issue that.

Very dissapointing but not surprising from Betfair anymore.

[gouty]

It is now apparent that betfair are not even under the control of the gambling commission since their move offshore.

I can't believe it can be legal for all these on course bookies to act as commission agents for betfair?

They are just smashing the punters money in to an unregulated market when their own license terms state that they can only hedge with licensed bookmakers. Betfair holds a bookmakers permit for this reason only but as they are now not in GC territory it's void I would think.

Nobody has made a complaint yet. But this company could fold like a house of cards. If the trade loses confidence or finds it legally cannot trade on BF then the liquidity goes and that's it.