Smarkets begins closing successful accounts

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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
Posts: 6793
Joined: Fri Dec 11, 2009 10:51 pm

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
Posts: 5386
Joined: Fri May 08, 2009 6:04 pm

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
Joined: Sun Dec 02, 2012 12:14 pm
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.
panache
Posts: 7
Joined: Sun Oct 31, 2010 8:07 am

I have to whole heartedly agree with the last half a dozen posters that weren't called James.

At the end of the day, trolling the trading forums isn't going to make the slightest bit of difference.

Much better to focus you efforts on changing broadband providers, finding a friend or relative { without the same surname }, open a new account and start again, and again, and again. { When you run out of friends & relatives, students and unemployed people you know spring to mind for cheap account rentals. ;) }
freddy
Posts: 1132
Joined: Sun Aug 01, 2010 8:22 pm

james19 wrote: 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.
That’s Just how things work im afraid, no one said the world was a fair place,
If a business deems you to be costing them money, then they are going to either up their prices or refuse your custom, happens every day in all walks of life, your not supposed to like it, but there is nothing you can do.
james19 wrote: 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.
I would have thought the Betfair P.C charge would have told you otherwise,
this is an alternative that Smarkets could have taken, put the prices up, it's the way most Businesses do things when someone is making to much money from them.
It all amount's to the same thing in reality anyway, putting a instant stop to your activities
or a slow painful death.
Take your pick :twisted: .
steven1976
Posts: 1744
Joined: Tue Jan 19, 2010 6:28 am

_PP_ wrote: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
Id also go with the above method. At the end of the day, I think they have stated the reason they stopped you is because they are at the mercy of their market makers and therefore they had no choice. Therefore put them in a position whereby they may actually come to you for advice if their market makers carry out their threat of walking away as you take advantage of gaps they may leave or whatever else it is. Just go about your business in other ways.

You are never going to win a verbal battle now as smarkets have realised they made a mistake by actually getting involved with the debate in public in the first place and Ill doubt they will ever do it again.
james19
Posts: 53
Joined: Thu Dec 13, 2012 7:30 pm

You realise that if this kind of market manipulation and deception occured in FSA regulated markets then the founders of this outfit would have a serious case to answer.

Sadly sporting derivatives are not regarded as serious derivative instruments (even though they are fundementally identical to financial derivatives) and so the current industry regulators are a bit of a joke.

I think we really need an exchange-specific licencing authority to prevent this kind of shit.

Still trying to fix up a London meeting with the CEO of Smarkets to iron things out on behalf of the professional community, but they don't seem very interested in listening. I guess they know best, or at least they think they do :roll:
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