Bookies don't take bets , close and restrict accounts

deswalker
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Postby deswalker » Thu May 22, 2014 9:12 am

@Pumpy Pig

What were the circumstances of the bets? Your experience is so alien to mine that I almost can't believe it.

I have accounts with almost all the majors, most of which now have balances many times the original deposit (in the region of 10 times the original deposit in two cases), and I have only been factored by one bookie, and that not enough to effect my normal day-to-day betting.

I find it very hard to believe that bets in the region of £10 on a fresh account even register with them. If I were in the bookie business, I wouldn't be wasting my time on them.

:?

The Pinnacle model wouldn't, unfortunately, work with racing as most of the markets are not as big and the races themselves are too susceptible to insider information.

I wonder if they would consider opening books on the major events though, where turnover would be big enough to support their model? Cheltenham, Ascot and pattern races should provide big enough markets and resilience to privileged information.

:?
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Postby Pumpy Pig » Thu May 22, 2014 10:10 am

Hi Des
I found it hard to believe too. I have had accounts with the big players for years (some over 25) and have never had any problems. One restricted me on one of my first bets. Anything with odds over about 6/1 I could only get 66p on. The most they allowed was £5 when it was odds on (which I hate). The 2nd I was probably up a bit and I had £10 at 11/1 which went to 4/1 and won. The next day I was restricted to 20p bets. I presume that they think I was arbing or had insider knowledge. The 3rd I opened a few weeks ago for a Eurovision bet (not really my usual stuff) after reading the OLBG write up as they had the best odds. It lost. I then used it for a few bets, won and then was restricted. This is alien to me as well and I thought it only happened to other people.
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Postby Tax Free » Mon May 26, 2014 7:08 am

Pumpy Pig you are clearly arbing. That is the only reason a punter playing the bets of the size you state would be restricted. I repeat the only reason.
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Postby Pumpy Pig » Mon May 26, 2014 11:05 am

Just got the best odds available at that moment in time...sorry about that! If they put up the odds so that they look good on Oddschecker they should accept bets of at least £10 or they are misleading the public.

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Postby Tax Free » Mon May 26, 2014 3:32 pm

They will do from genuine punters. As punters we need to be smart and not behave in the sort of manner that will alert the risk team to cut our accounts. For example not backing ricks, arbs or bad e/w races.
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Postby Pumpy Pig » Mon May 26, 2014 5:21 pm

Genuine punter? I would like a definition of that. Odds are put up, you accept or you don't. What someone does with another bookie or exchange is none of their business. How ridiculous this secenario is - bookies put up prices to attract us and when we take the prices and win we are accused of arbing - which as far as I can see is not illegal. So the answer is that I just look at the best prices on oddschecker and say how pretty they look - but I mustn't dare take them! I will have to look more into this arbing as I might as well do it if I'm being banned/restricted because of it.

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Postby Tax Free » Tue May 27, 2014 9:21 am

Pumpy Pig - Just backed at 33/1 and managed to Lay at 19/1. Also did it ew - so got a back of 8/1 and layed at just over 4/1.
That is arbing. Backing at a higher price than Betfair and laying off at a shorter price.

A genuine punter is someone who backs their own opinion and not ricks, arbs or bad e/w races only. Arbing is not of course illegal but bookmakers can spot such behaviour and will close accounts because of it.
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Postby deswalker » Tue May 27, 2014 9:41 am

But you can understand what PP is saying though Tax Free? Why shouldn't we be taking the best odds? I have no interest in arbing personally, but if Hills are 3/1 when everyone else is 11/4 I want to have most of my stake with them!

One thing I don't agree with is "not taking advantage of ricks"... surely thats all that we do on a daily basis anyway?

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Postby Tax Free » Tue May 27, 2014 10:39 am

Taking best odds is exactly what bookmakers want you to do because that is why they offer such odds. Someone who backs their opinion and is a genuine punter will back arbs and non-arbs at standout prices. Bookmakers can easily run software to check if a client is exclusively placing arbs or not.

I think you are mistaken as to what a rick is. A rick is an obvious and glaring mistake. For example backing a horse at 110/1 that everyone else is 10/1.
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Postby deswalker » Tue May 27, 2014 10:46 am

No mate, that is a palpable error. A rick is what beepee spotted last night when Towbee was priced at 15/2 opening show for the 14:30 (see discussion thread).

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Postby Tax Free » Tue May 27, 2014 11:20 am

You are arguing about semantics now.
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Postby hallamblue » Thu May 29, 2014 9:20 am

I've had accounts with lots of bookies and never a problem. I used to arb and place large bets and still never an issue. However, a few weeks ago i opened an account and put £5 on various horses in the Irish National and got the winner and 2 places to win about £20. Then a few days later I backed all of Peter Bowen's horses at a meeting, 1 won and I won about £15. The next day I got an email saying my account was closed! I couldnt believe it. I just laughed really as it wsa pathetic. I won't name the bookie but they are a National Firm that advertises on TV. I can only presume they do this automatically because no human would have cancelled an account based on those 2 bets.

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