'Concern' email from Betfair

[spreadbetting]

I wouldn't worry about it, I'd imagine they're just paying lip service to GamCare with some automated emails for people depositing a certain percentage over their normal deposits. The last thing they'd want to do is shut your account. Contact Betfair direct if you're really worried about it but the customer services reps you'll most likely get thru to are useless and will probably confuse you more.

[ANGELS15]

Thanks for the replies thoughts. I just had a question for SeaHorseRacing.... my liability may be too low? Please explain. Is it something to do with the maximum exposure limit of £5k which most people have as standard?

[ANGELS15]

Actually I don't mind anyone explaining the bit about the possibility that my liability might be too low. like comments above I'd rather ask people on here than betfair customer service.

[wearthefoxhat]

Every betfair account deposit limit protection. Can be edited easily enough if you want to deposit £20k next time. (after a 7 day period)

deposit.PNG

[Derek27]

I think SHR was referring to 'exposure limit', by default it's £5000.

Your deposit limit by default is unlimited.

[ANGELS15]

Ok thanks for the explanations perhaps they think depositing £2k dosen't fit with the nornal £5k exposure limit and maybe I need to look into getting that raised although I'm not sure how easy that is or whether they'd be awkward about it.

In all honesty most of my back to lay trades shouln't expose me to more than the stake of around £50. I've been very slowly learning to trade scalping 1 or 2 ticks. At this early stage I would only be risking stakes of around £25 mostly on selections up to odds of about 6.0.

[spreadbetting]

You can just ring up to get your exposure limit increased. It covers all markets so if you have open exposure elsewhere it gets added up reducing your available amount,, plus say you backed a 110 shot with your £50, you wouldn't be able to close in one bet as the payout would be over your default £5k limit if the bet went in your direction.

At the end of the day most people can happily operate with a £5k limit but the middle of a winning trade isn't the time to find out you can't.

[Derek27]

You can just ring up to get your exposure limit increased. It covers all markets so if you have open exposure elsewhere it gets added up reducing your available amount,, plus say you backed a 110 shot with your £50, you wouldn't be able to close in one bet as the payout would be over your default £5k limit if the bet went in your direction.

At the end of the day most people can happily operate with a £5k limit but the middle of a winning trade isn't the time to find out you can't.

I'm sure exposure limit, as its name implies, limits exposure rather than payout. Closing the £50 trade would reduce exposure even if it pays out more than £5K.

[PDC]

I'm sure exposure limit, as its name implies, limits exposure rather than payout. Closing the £50 trade would reduce exposure even if it pays out more than £5K.

From memory it is based on the individual bet, not the 'what if' of that bet.

I had this happen to me once when I went to close out a trade for a profit and no matter what I did I couldn't get it to close out the trade for a profit. It turned out the issue was the £5,000 exposure limit.

[Derek27]

Thanks for the correction.

[TipTopTrader]

I would log in to your Betfair account click on Player protection check to see if when you set up the account you didn't acidentally put a deposit limit on the account.

Yes they do have terrible customer service.Took them 3 or 4 days to ring me back but they will fix it once you get thru.

There is more chance of them closing your account if you don't contact them then if you do.

[ANGELS15]

I used to have a weekly deposit limit of around £600 per week. Over the summer I reset it at £3000 as I intended to up my trading a little. I also set a daily loss limit of £600 which is still in force. I'm sure I used to be able to see on the site that my exposure limit was £5000 but I can no longer see where they show that. I had yet a 4th email from them again because I deposited a further £72 into my account today. I'm working this weekend. I think I'll give them a call Monday. I'm just a little wary. I read of a case I think it was on here where someone ended up self excluding himself due to some 'misunderstanding' between himself and the operator. It's possible that the £5k exposure should be adequate for me as most of my trades are back to lay or occasionally the other way round. Nowadays with my new bank I feel confident to use stakes of around £50 as opposed to £20 £30 a few weeks ago. With these types of trades I don't think it makes sense to use stakes any bigger. Incidentally their emails say there is no need to email them back unless I want to discuss player protection tools. The emails are from their responsible gambling team.

[TipTopTrader]

I think you have answered your Own question.By setting limits, you have ask them without realizing to show cocern when you up the limits and deposit more to make sure you're not getting in over your head. Guardian has setting under staking.Where you can use % of bank max liability etc.

[ANGELS15]

I think you have answered your Own question.By setting limits, you have ask them without realizing to show cocern when you up the limits and deposit more to make sure you're not getting in over your head. Guardian has setting under staking.Where you can use % of bank max liability etc.

Yes that's an interesting point. also interesting and slightly worrying that no one else appears to have had similar experience. I have a very structured approach to what I do and do feel in control etc.

[ANGELS15]

I was trying to reply directly to you Tip Top trader and I've seen how people manage to copy/quote the other poster when replying. I wasn't sure how this was done so I copied and pasted your comment but it appears that's not how to do it. my apologies