You might want to boil the kettle before you sit down and read through this!
There has been quite a sensational story erupting this week involving Betfair. It appears that they have offered their large customer database a reload bonus on their casino only for so many people to take up the offer and win that they have resorted to locking accounts and “taking” the money back from them.
I say this is a sensational story as Betfair is seen as one of the most reputable companies within the gambling industry and so if you can’t trust them to pay out a winner then who can you trust?
The Offer itself…
If you are a member of Betfair then you might well have received an email last week inviting you to participate in their Casino Happy Hour Special on Saturday Night. Even if you didn’t get the email it was open to all on the website who opted in.
The offer was “Get Unlimited 50% reload Bonuses in the Betfair Casino on Saturdays from 21.00 until 23.59 GMT!”
So you could deposit £200 for a 50% bonus of £100, as many times as you wanted between 9pm and midnight. Great offer from the sounds of it!
This offer was then posted on forums around the Internet where many clever people realised it was possible to make a risk free profit from this offer by playing roulette in a way I wont publicise on here
However, even if you didn’t want to do it the risk free way you still had a huge chance of making a profit from this as you only had to play through your bonus 10 times when most normal bonuses would be 40+ times at most other casinos. The fact you could also do this an UNLIMITED amount of times made this offer even more enticing to most advantage players and punters alike.
So it sounded like a very generous offer from Betfair. I have done a lot of Casino Whoring in the past and I was tempted to get involved however I figured it wasn’t worth risking my Betfair account which is extremely important to me. Don’t bite the hand that feeds you!
What happened next…
Well as you can imagine for an offer like this many people steamed in with huge amounts and made huge amounts in profit too. From the looks of it most were making a few hundred or even a few grand from this offer!
So all was good until Betfair decided to start suspending accounts on Sunday and Monday night!
Many received an email saying their accounts were being temporarily locked pending further investigation. Some people had their accounts re-opened shortly and could retrieve their money and winnings however from the looks of it the majority of others had their winnings confiscated and some still haven’t had their accounts re-opened at time of writing.
In some cases Betfair have even gone to the extreme of removing all winning money and not refunding the losses that were made on the casino. So this has resulted in many people actually losing a vast amount. From reading one forum thread there were reports of some people up to £7k taken from their account! So to make it clear, it seems Betfair weren’t just confiscating the winnings but they weren’t refunding the losses that were made on the casino at the same time.
You might read this and feel that perhaps some people were asking for it by playing a casino bonus with a risk free method however what is most concerning about this offer is the fact that it doesn’t seem to be only the risk free players getting punished. There are reports of regular punters having their winnings confiscated too.
What’s going to happen now
Well this scandal is still ongoing but can you imagine if you had played the bonus fairly, met every term and condition they put up and then won a nice amount only for them to take it all back and even take the money you used to win it with too!?
Advantage players normally know there is a possibility they might be refused a bonus, but to deny a bonus and confiscate winnings from players who have kept to the spirit of the bonus and followed the terms and conditions is verging on being outright theft!
Don’t get me wrong, this isn’t the first time a bookie or online casino has acted in an unruly manner. However, it’s normally a random foreign bookie that like to pull such scams and not one of the biggest names in the game. With Betfair recently floating on the stock market can they even handle the expected bad publicity that might well end up coming from this?
I emailed Betfair to find out their side of the story on this matter and they declined to comment as they said “it was still being investigated”.
Well, this is certainly not the last we will be hearing about this as many punters are threatening legal action and with the amounts of money involved you can be sure this will be seen through to the end.
You will be surprised at how many people have been affected by this though, watch this video below and you will discover how Adolf Hitler took the news….
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You really have to see it to believe it!