Cross Matching - Betfair to change approach (to refunds)

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gazuty
Posts: 2547
Joined: Sun Jun 26, 2011 11:03 am
Location: Green land :)

This week Betfair added A$3.00 to my account.

Looks like in the future they won't be doing that anymore and instead will be donating it to charity.

Received this message:

"As you may realise, many Australian markets offered by Betfair employ cross-matching, a process that increases the likelihood of customers’ bets being matched through a specifically-calculated algorithm. (For more detailed information on cross-matching on Australian markets, please visit
http://cross-matching.betfair.com.au/.)

Over time, the cross-matching process on Australian markets results in the accumulation of a small amount of residual funds within our internal matching account, which we are required to distribute to eligible customers at certain intervals.

As you have placed a bet in an Australian exchange market that employs cross-matching since the last distribution of funds, you are entitled to an allocation of a share of these funds.

As any Betfair customer throughout the world to have placed a bet in an Australian cross-matching market is entitled to a share of the distributed funds, the relevant amounts per customer are quite small. Please be advised that your share of the distributed funds was deposited into your main wallet last week, in your local currency.

This is expected to be the final distribution of this type to customers as Betfair now has an in principle agreement with the Tasmanian Gaming Commission to distribute future residual funds for the greater benefit of the community.

If you have any further queries, please email our Help Desk at [email protected]

The Betfair team "
andyfuller
Posts: 4619
Joined: Wed Mar 25, 2009 12:23 pm

Shame they don't the same with non AUS cross matching profits, which are substantial!
switesh
Posts: 527
Joined: Mon Jul 11, 2011 8:43 am

I received the same message, and some loose change a few days back gazuty. BTW, where are you based?
andyfuller wrote:Shame they don't the same with non AUS cross matching profits, which are substantial!
It was just the one time Andy, they won't distribute it anymore.

Either ways, I really enjoyed trading the AUS races, short as it might have lasted. Made me spring out bed every Saturday morning knowing I can have the trades under my belt :D
A great feeling. If I could bottle it, it would sell like hot cakes!
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gazuty
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Joined: Sun Jun 26, 2011 11:03 am
Location: Green land :)

switesh wrote:I received the same message, and some loose change a few days back gazuty. BTW, where are you based?
Answer at the 16 second mark - http://www.youtube.com/watch?v=Cd7KnsiSjd8
bobalski
Posts: 36
Joined: Thu Mar 28, 2013 12:10 am
Location: Bobs Farm, Australia (Port Stephens)

gazuty wrote:Answer at the 16 second mark - http://www.youtube.com/watch?v=Cd7KnsiSjd8
Sinny. Is that in Queensland?
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gazuty
Posts: 2547
Joined: Sun Jun 26, 2011 11:03 am
Location: Green land :)

Got this years refund today. $5.00.

I thought they were going to stop this.

Wish it was going to offset this weeks PC. Alas no.
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Euler
Posts: 24701
Joined: Wed Nov 10, 2010 1:39 pm
Location: Bet Angel HQ

£2.74, it seems a bit random and not proportionate to activity?
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gazuty
Posts: 2547
Joined: Sun Jun 26, 2011 11:03 am
Location: Green land :)

Euler wrote:£2.74, it seems a bit random and not proportionate to activity?
I'm guessing it is a bit proportional because I have upped my activity and the refund has moved from $3 to $5. Yours might be aud$5. Maybe that is the max?

But it is not proportionate to winnings. My winnings are more recently much larger on a weekly basis.

So I expect it is allocated by number of cross matching events participated in, but goodness knows. They might get monkeys to throw darts at a dart board.
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LeTiss
Posts: 5386
Joined: Fri May 08, 2009 6:04 pm

Euler wrote:£2.74, it seems a bit random and not proportionate to activity?
How incredibly strange mate, mine was £2.74 also

I assumed it would go on levels of activity, and I know you have dabbled on Australian Racing, but my ONLY Aussie activity this year has been the Australian Open Tennis. Admittedly, I pushed through some very large trades, but apart from those 2 weeks I've done bugger all!
Wyndon
Posts: 237
Joined: Sun Nov 13, 2011 10:14 am

£2.74 for me as well - after a brief flirtation with Aussie racing for small stakes.
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CaerMyrddin
Posts: 1271
Joined: Mon Sep 07, 2009 10:47 am

Got €3.26, let's party!
Zenyatta
Posts: 1143
Joined: Thu Mar 11, 2010 4:17 pm

I got $AU 5. So I finally got something out of this trading gig. Thank heaven for small mercies. After being relieved of thousands, they've given me $AU 5 back - enough to catch a bus to the unemployment office. :twisted:
Zenyatta
Posts: 1143
Joined: Thu Mar 11, 2010 4:17 pm

CaerMyrddin wrote:Got €3.26, let's party!
May as well punt it. The 2.15 at York (UK) today, look like a good betting race. I'm putting my fiver on 'Baccarat' at 11-1.
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gazuty
Posts: 2547
Joined: Sun Jun 26, 2011 11:03 am
Location: Green land :)

Today was the day. Looks like the minor refunding continues.
98lewisj
Posts: 116
Joined: Fri Nov 08, 2013 4:17 am

£4.51 :-)
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