Betfair trading abroad

[Mr Undercover]

Guys - just had a quick google search on Thailand gambling laws as i wasn't sure and a few of you mentioned trading there. It looks to me that online sports betting is total illegal so that means online sports trading as well - there are numerous sites where you can check this out http://www.9crown.com/TH/betting.aspx.

But, please heed the warning, BF would be quite within their rights to seize your account and all funds... their t&cs will say but they usually gift funds to gambling charities.

Worse than this is what the Thai authorities might do with you if you couldn't bribe your way out the situation.

It's one of those things where you don't even consider the risks or might not even be aware but it's a pandora's box you'll wish you never opened.

good luck.

[viper.trader]

Loads of ex pats out there trade or gamble play poker, they even do it in there local bars, with the free wi fi. Just use netteller or an account from your home country. Most betting sites have thai as a currency you can use if you wish.

[Mr Undercover]

I'm sure they do but unfortunately it doesn't make it legal. All i'm saying is be aware of the risks you are taking... the fact everyone else was doing it isn't going to help you when caught. It's so easy to take precautions to prevent being caught why take the risk.

[steven1976]

It is illegal to gamble with the exception of horse racing. As it is.the police that run the show with gambling they tend to be to.busy collecting their back handers from.the illegal.casinos, local bookes, brothels, boiler rooms etc... To worry about a few expats on bf

[Mr Undercover]

it's a fair point, you can bribe your way out of most trouble in Thai, the real threat is what will BF do if they discover you are betting from an illegal territory they are quite within there rights to seize your balance as the proceed of crime. Personally i wouldn't put myself in that situation when it's so easy to hide your ip address.

[Mr Undercover]

Guys - While I was at work this week I did a bit of checking, it is a condition of Betfair's license that they don't accept bets from territories where gambling is 'illegal'. I'm fully aware a lot of this does goes on but just be aware, if matters are brought to their attention they have to act according to written policy...

[steven1976]

They should start by not accepting credit cards from restricted countries! It wouldnt surprise me in the least if some large chunks of money come from restricted countries on football games from under ground bookies. Just a thought.

[Euler]

You can't place a bet online in San Deigo but just a short drive down the road you cross the Mexican border and can. Bit of a farce really isn't it?

[steven1976]

Yep, Singapore has laws that stop gambling and yet they build the huge sands complex. Also I think Macau now takes more money than vegas as its only a 30 min boat ride from HK and within an easy drive of some major Chinese cities.
Here in Thailand its illegal and yet they have Thai publications with football odd published s from big UK bookies advertised all over them. So whilst by the letter of the law in regards their licences they maybe shouldnt be advertising here or accepting payments from countries such as UAE, Singapore, Thailand etc... they do even with the risks that are involved for them.

[Euler]

With the Internet being the way it is I think it's folly for governments to block things, not just gambling. Better to manage it than have it off the radar.

I spoke to somebody who represented Betfair in Asia a little while ago. It was a massive market but all controlled by vested interests and inaccessible for the west. Would be interesting to see that market open up.

[Mr Undercover]

Totally agree, it's well documented a prohibition on gambling doesn't work, and worse, protection of the most vulnerable is left in the hands of nafarious indivdiuals. Countries like the US, Singapore and Thailand all know this but they play on the politics to develop protectionist policies to keep it in-house. They know it's a very lucrative industry so hate to see revenues draining off overseas to foreign businesses. It's an easy target as religion is entwined so easy to play to the sensibilities of the bible bashing majority in Southern US states or Muslim countries... thou shalt not gamble... unless in Las Vegas or Oil rich sheikh with aspirations to win the Derby.

It's a pantomime unfortunately and gambling firms like Betfair and Ladbrokes are eager to demonstrate to US authorities considering issuing restricted licenses that they uphold the stringent standards in identifying and removing 'illegal' activity.

Beware... I know of numerous cases where people have come a cropper though innocently placing bets from US soil and other regions thinking it was fine...

[Euler]

I don't think anybody is advocating anything illegal here, just discussing the scenarios.

[viper.trader]

What i cant understand is why Bf dont have the restricted terrotries like the bookies. Is it a case you have to ask them or do your own homework on it, and if you get it wrong you get your account frozen.

[steven1976]

I think they may do in some certain countries that they are maybe closely monitored such as countries in the EU such as Spain, Denmark and the USA. Further a field maybe there aren't the checks and requests to bf from the authorities and therefore betfair being the business they are possibly turn a blind eye to further increase profits?

[misimiki]

I live in Hungary and so far no problems using BF. In actual fact, last year i couldn't use Bettornado for my Ipad as it was country restricted, but it seems now that it isn't and I can now use it here in Budapest. But that is not what I want to comment about. I just downloaded AirDisplay for my Ipad and it rocks!!! What a cool and useful app for a very good price. Thanks Peter for mentioning it on this thread.