Betdaq banned Finland and few other countries

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bmz4
Posts: 28
Joined: Tue Nov 10, 2009 1:42 am

Betdaq banned all of a sudden without any warning Finland and few other countries. I had just moved much of my betting to Betdaq, because of Betfair greediness. I do this for living, so this hits me big.

Example how vulnerable and stressful betting is as profession. All can change in a moment. I had just bought an apartment here in Finland. Now i have to plan, if i have to move to another country.

Dear Customer,

You are receiving this email because your BETDAQ account is registered at an address within one of the Restricted Territories as defined below. We regret to inform you that, due to a recent audit of the territories in which BETDAQ is made available, as of 1st January 2015 (the "Closure Date") BETDAQ will no longer be able to accept business from any account with a registered address located in your territory.

For the purposes of this email, "Restricted Territories" means Albania, Armenia, Belarus, Croatia, Czech Republic, Faroe Islands, Finland, Georgia, Japan, Lithuania, Luxembourg, Mexico, Moldova, Peru, Portugal, Romania, Russia, Slovakia, South Korea and Ukraine.
fuzzer54
Posts: 109
Joined: Wed Apr 15, 2009 2:23 pm

Bizarre. Why would they do that? I could perhaps understand Russia and Albania. But stable countries such as Finland and Japan? Do they ever explain their reasons?
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Euler
Posts: 24701
Joined: Wed Nov 10, 2010 1:39 pm
Location: Bet Angel HQ

It's legislative changes. If you go back ten years ago the world was open to exchanges but increasingly hostile legislation has pretty much pushed out internet based sports book and especially exchanges.

It seems government can impose penal legislation against these companies safe in the knowledge no other government will retaliate. In reality the problem just shifts or the domicile of residents do as they can't restrict their movement. It's daft.

Look at Uber and other similar sharing services like Air BnB. Existing industries with vested interests are trying to push these services out of business despite huge consumer demand and the many benefits they bring. The world should be embracing these technologies.
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marksmeets302
Posts: 527
Joined: Thu Dec 10, 2009 4:37 pm

Got that same email a couple of years ago. I informed if they would allow betting accounts to be held by companies. They did. This means you can set up an international business company (IBC) in for instance St. Vincent and create accounts in the companies name. Then use a VPS in the UK to make sure you don't get banned on an IP address basis. Let the IBC be owned by a foundation of which you are the sole member and you don't even have to pay taxes.

I didn't go through with it at that time because this practice is frowned upon by the tax administration and I was working for a company that had to be clean as a baby's bottom at all times. Later on I learned that a member of the dutch royal family has a similar setup where they effectively dodge a lot of tax but according to the dutch government "they did nothing that wasn't legal".
bmz4
Posts: 28
Joined: Tue Nov 10, 2009 1:42 am

Thank you for your comments and advice. I will try that procedure as marksmeet suggested. I will also take a look at other exhanges as matchbook and smarkets, they dont seem to have that kind of restrictions - so far. Especially matchbook seems to have increasing liquidity, and getting more and more costumers. Hopefully there comes some betting software at some point.
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CaerMyrddin
Posts: 1271
Joined: Mon Sep 07, 2009 10:47 am

Got all my funds credited into my Skrill account today.

A massive €0.20 :lol:

Account closed...
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