Smarkets begins closing successful accounts

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spreadbetting
Posts: 3140
Joined: Sun Jan 31, 2010 8:06 pm

Somehow I doubt you sending a letter a week will make them change their mind :) What did the LGA say, if they haven't investigated yet I'd wait for their reply before looking at your next possible moves.

The more and more you keep recycling the same thing just makes you come across as some sort of crank for now. And your desperate need to use smarkets over Betdaq or Betfair kinda leads me to believe you found a flaw within their system to exploit that doesn't exist elsewhere. Not that I'd have a problem with that.

All I'm basically saying is if you're using this thread in the hope of embarrassing them to change their mind it's really not working.
james19
Posts: 53
Joined: Thu Dec 13, 2012 7:30 pm

I am still plying my trade on Betfair and Betdaq. It's no skin off my nose, i'm just appalled at the way I have been treated by Smarkets.

LGA chief investigator is still compiling evidence, and I am awaiting their final verdict on the case.

I may come across as a crank but I would react the same way if Betfair/Betdaq were ever so stupid as to impose life time bans on winning traders. Many people make a living from exchanging trading, and this type of practice is fundamentally wrong.
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mugsgame
Posts: 1235
Joined: Wed Mar 25, 2009 11:41 pm

I think you should read this http://blog.smarkets.com/2013/02/21/deu ... ing-round/

You should go and read my reaction to smarkets when they first appeared a couple of years back. Think I called it about right back then.
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Euler
Posts: 24701
Joined: Wed Nov 10, 2010 1:39 pm
Location: Bet Angel HQ

james19 wrote:I would react the same way if Betfair/Betdaq were ever so stupid as to impose life time bans on winning traders. Many people make a living from exchanging trading, and this type of practice is fundamentally wrong.
But you haven't though James have you, despite all the things that Betfair have done to stop winning traders? So this does imply that you are exploiting a loophole; which smarkets have closed. All commercial businesses have the right to say yes or no to business. Nobody is obliged to deal with anybody if they don't want to. You can't sue somebody or run to a regulator for saying they don't want your business. Especially in the gambling industry.
james19
Posts: 53
Joined: Thu Dec 13, 2012 7:30 pm

They will never make enough to sustain themselves charging 20p comm on the £10 rec punters. They need people like me who generate upwards of £120,000 in commission p/a if they want to grown and capture serious market share from their rivals.
Last edited by james19 on Sun Feb 24, 2013 10:18 pm, edited 1 time in total.
james19
Posts: 53
Joined: Thu Dec 13, 2012 7:30 pm

Unfortunately they are not prepared to engage in adult dialogue.
Last edited by james19 on Sun Feb 24, 2013 10:19 pm, edited 1 time in total.
spreadbetting
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Joined: Sun Jan 31, 2010 8:06 pm

james19 wrote:
To make matters worse initial investor Stefan Glaenzer is now on the sex offenders register:

http://www.dailymail.co.uk/news/article ... mpics.html
Clutching at straws now, James, not too sure how the actions of their investors are supposed to have an effect on their policy decisions. You'll be telling us some of their staff are ginger next :shock:
Boing
Posts: 134
Joined: Thu Feb 23, 2012 4:06 pm

+1

That just makes you look a complete nutter. Some sort of stalker.
freddy
Posts: 1132
Joined: Sun Aug 01, 2010 8:22 pm

james19 wrote:Well I don't see why legal action should be off limits.
James i understand that you were upset that your account was closed and I think you did the right thing initially by highlighting this to others.
We can now all make our own judgment on if we want to use them or not going forward, i personally will not bother, so your rants against them have have achieved something at least :) .

However I do think you are living in cloud cuckoo land if you think that anything legally can be done about it, any business can refuse service.
Why do you think no one has taken any of the high street bookies to court, when they close or restrict accounts, this is no different really is it ?.

So personally I would stop wasting your time,
let go and move on with your life,
you will get nowhere continuing like this, you are starting to come across as someone with a serious vendetta and int he process managing to discredit yourself which plays directly into smarkets hands.
james19
Posts: 53
Joined: Thu Dec 13, 2012 7:30 pm

I guess we'll have to just wait and see what purple comes up with...
Last edited by james19 on Sun Feb 24, 2013 10:20 pm, edited 1 time in total.
james19
Posts: 53
Joined: Thu Dec 13, 2012 7:30 pm

freddy wrote:
james19 wrote:Well I don't see why legal action should be off limits.
James i understand that you were upset that your account was closed and I think you did the right thing initially by highlighting this to others.
We can now all make our own judgment on if we want to use them or not going forward, i personally will not bother, so your rants against them have have achieved something at least :) .

However I do think you are living in cloud cuckoo land if you think that anything legally can be done about it, any business can refuse service.
Why do you think no one has taken any of the high street bookies to court, when they close or restrict accounts, this is no different really is it ?.

So personally I would stop wasting your time,
let go and move on with your life,
you will get nowhere continuing like this, you are starting to come across as someone with a serious vendetta and int he process managing to discredit yourself which plays directly into smarkets hands.
They wouldn't be allowed to refuse a client on the basis of race or sexual orientation, but it's quite ok for them to actively discriminate based on IQ and apparent mathematical aptitude.
Last edited by james19 on Sun Feb 24, 2013 10:14 pm, edited 1 time in total.
Iron
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James19

I'm with some of the other contributors.

When you started this thread, you wrote about what you understandably felt was unfair behavior from Smarkets. I don't think anyone had a problem with that. However, you appear now to be using this forum as a way of taking swipes at them out of spite, in the manner of someone slagging off their ex at every opportunity.

You can understand people feeling annoyed about their precious time being wasted with your one man battle against Smarkets...

Jeff
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LeTiss
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I haven't read this thread for a while

James, let it go, you're actually starting to discredit yourself now

SportingBet restricted me to £2 stakes after I placed a £500 bet on a Tennis steamer at 2.50. I only won £750, but that was enough for their trading department to blacklist me. I was annoyed, but there was bugger all I could do as it was their business & they can ban whoever they want
james19
Posts: 53
Joined: Thu Dec 13, 2012 7:30 pm

LeTiss 4pm wrote:I haven't read this thread for a while

James, let it go, you're actually starting to discredit yourself now

SportingBet restricted me to £2 stakes after I placed a £500 bet on a Tennis steamer at 2.50. I only won £750, but that was enough for their trading department to blacklist me. I was annoyed, but there was bugger all I could do as it was their business & they can ban whoever they want
I guess you're right.

Everyone know's the fixed odds bookies are low lives, that's why I never bothered with them. I thought exchanges were different, so I was pretty shocked when I discovered the way that Smarkets were operating.
Last edited by james19 on Sun Feb 24, 2013 10:14 pm, edited 1 time in total.
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_PP_
Posts: 17
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Location: Portugal

If you are committed to your resolve, why don't you teach a relative of yours your trading method at smarkets, and that person opens a new account with them? Officially you were banned for the threat thing and not by your trading style. There is nothing that prohibits you from teaching a relative how to make money with that exchange. If they think it's you in disguise, your relative can prove his/her identity by request. Do you feel me? :twisted:

This is a subtle and elegant way to get your "revenge" through. Because if you continue to talk trash of them at the forums, the only one who gets hurt is you. :|

Cheers
Last edited by _PP_ on Mon Feb 25, 2013 2:35 am, edited 1 time in total.
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