Urgent help needed

[Paulbee1122]

I'm at my wits end. OK I'm 55 retired 5 years ago traded betfair betdaq matchbook and finally smarkets. After winning just over 10k in 4 months on smarkets they have decided to close my account. I'm now totally screwed. As all the others have closed me down for one stupid reason or another. Had accounts in my Mrs name aswell all them closed. What alternative is there please?. I'm going to struggle finding a decent job at 55. I was advised to use orbit but only available in India I think. I'm obviously in the UK. This is going to finish me and take away my livelyhood.

[Dallas]

Why have Betfair and Betdaq closed your accounts?

[Paulbee1122]

Affordability checks and betdaq a company decision. Really strange.

[Derek27]

Affordability checks and betdaq a company decision. Really strange.

Do you know what triggered the affordability checks with Betfair? Were you moving money in and out of your account?

[Paulbee1122]

Probebly withdrew more than I should of. Best just making 1 depo and 1 withdraw a month. I cannot find any alternative whatsoever. Going to have to get a friend to do it. But not ideal for obvious reasons.smarkets ceo says they do not close winning account. What a load of bollox.

[Derek27]

Probebly withdrew more than I should of. Best just making 1 depo and 1 withdraw a month. I cannot find any alternative whatsoever. Going to have to get a friend to do it. But not ideal for obvious reasons.smarkets ceo says they do not close winning account. What a load of bollox.

I'm sure withdrawing isn't a problem, unless they're very frequent. But I thought they charge for frequent withdrawals and would expect them to simply contact a customer if that was the problem.

[Archangel]

Sorry about the situation you find yourself in.
These companies can close our accounts at any time for any reason they like. Anyone relying on them for a living needs be aware of that.

[Kai]

Affordability checks and betdaq a company decision. Really strange.

Do you know what triggered the affordability checks with Betfair? Were you moving money in and out of your account?

Since when does BF close accs for this, thought worst case was getting a deposit limit?

Don't give up so easily on your accounts, particularly on the Betfair account.

[Kai]

Probebly withdrew more than I should of. Best just making 1 depo and 1 withdraw a month. I cannot find any alternative whatsoever. Going to have to get a friend to do it. But not ideal for obvious reasons.smarkets ceo says they do not close winning account. What a load of bollox.

I'm sure withdrawing isn't a problem, unless they're very frequent. But I thought they charge for frequent withdrawals and would expect them to simply contact a customer if that was the problem.

Is this really a thing, can someone confirm or deny?

Do people actively try to withdraw less often?

[Euler]

Based on my interaction with Bet Angel users there doesn't seem to be any problems with withdrawing money from Betfair. If you have a deposit limit, it actually helps.

[Paulbee1122]

Listen they closed myself because I couldn't provide a more in detail source of funds. I had other sources of income and they wanted derails of everything. Like I borrowed my friend 4k a few years back and got it returned this year. They wanted to know where this come from and did I pay taxes etc on the cash.its really really intrusive. Believe what you want. All I will say is just wait until its your turn and see how stressful it really is. You send in documents then you get a reply 48 hours later. It's all a farce and complete and utter farce.

[Euler]

Listen they closed myself because I couldn't provide a more in detail source of funds. I had other sources of income and they wanted derails of everything. Like I borrowed my friend 4k a few years back and got it returned this year. They wanted to know where this come from and did I pay taxes etc on the cash.its really really intrusive. Believe what you want. All I will say is just wait until its your turn and see how stressful it really is. You send in documents then you get a reply 48 hours later. It's all a farce and complete and utter farce.

Y, we are all aware of those things and we all agree it's OTT and unnecessary. Just crossed lines there I think?

[LeTiss]

I was under the impression that withdrawing money wasn't an issue, IF it was money you've won or generated yourself on the Exchange

I didn't realise there was such a thing.....where withdrawing money too often was a problem

[Derek27]

Listen they closed myself because I couldn't provide a more in detail source of funds. I had other sources of income and they wanted derails of everything. Like I borrowed my friend 4k a few years back and got it returned this year. They wanted to know where this come from and did I pay taxes etc on the cash.its really really intrusive. Believe what you want. All I will say is just wait until its your turn and see how stressful it really is. You send in documents then you get a reply 48 hours later. It's all a farce and complete and utter farce.

Sorry to hear about your situation. So it was a depositing issue?

Did you have any trouble getting them to release your account funds back to you once they closed the account?

[Kai]

From what I've seen always thought people preferred to withdraw often, even daily if possible

Derek pointed at a clause in the T&C earlier where apparently BF may not like this, but not heard of any such issues or had any myself