Today I was credited a small amount on my account designated for trading on the australian exchange. Funny thing is, I haven't used that account for years because the high commissions were killing me.
The description was "Aus Cross-Matching Residual Funds Distribution".
Contacted betfair about this. Apparently, they executed a distribution of funds relating to the residual left in their our cross-matching account. It's a regulatory requirement that the funds leftover are returned to customers. Any customer who has bet on an Australian wallet event that has cross-matching will be entitled to a share of the funds. It's a one time event.
This got me thinking.. if it's a one time event it might implicate the end of cross matching in australia. But apparently no decision has been made about that.
Aus Cross-Matching Residual Funds Distribution
This has been going on for a number of years, certainly back to 2011..
They have to declare it in Aus by Law and their licensing agreement, but not so sure they do in the UK?
I seem to recall they were making around £300k/Month (?) in the UK from their in house bot? Not sure if that is still the case.
Regards
Peter
They have to declare it in Aus by Law and their licensing agreement, but not so sure they do in the UK?
I seem to recall they were making around £300k/Month (?) in the UK from their in house bot? Not sure if that is still the case.
Regards
Peter
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marksmeets302
- Posts: 527
- Joined: Thu Dec 10, 2009 4:37 pm
For me it's the reverse: didn't place a single bet this year, but received this for the first time.