Beat the bookie?
Beat the bookie, beat the bookie!!
It’s a phrase that’s often thrown about in the betting world, possibly created by bookies themselves.
But if you do… this is what happens!
Make sure you read the whole post, since this happened some real horror stories have been uncovered!
And this is how I managed to ‘beat the bookie’…
The reason they gave me was: “the traders think you will be unprofitable for the business”
I created a quick YouTube video about the experience, if you haven’t already seen it you can HERE.
Beat the bookie in 2016?
Being a trader I’ve never bothered too much with standard bookmakers (excluding before I started to trade). I mean, their ridiculous over-rounds don’t appeal to me. There’s no point betting with a bookmaker at 120% over-round when the exchanges offer something close to 101% at post. Even if they do give you a free bet from time-to-time.
It doesn’t look good at all though, many have commented on twitter which I shall come onto in a second. But bookmakers are now turning into companies that will only ever let you enter a truly horrendous proposition. If by any chance, you should find some value they will cut you off at the knees (premium charge) or close you all-together.
Recently @HBFBritain was set up by the BHA to voice the concerns of the punters. So far, all it seems like is a board of people that are paid by bookmakers to make people feel like they’re heard. Make sure you give them a tweet, I have! (no response as yet, shock).
If you’ve been following a few months you will have seen this video (Biggest Lie In Betting) where I asked Tanya Stevenson what she was on about on Channel 4 Racing… guess what, no answer on that one either! And to make matters worse (this is hilarious) she’s on the HBFBritain board of ‘independent’ advisers! How many bookies are stuffing her accounts with free-bets I wonder?
With all the mergers and customer information being shared it’s only going to get worse….
What followers had to say (some shocking tales)
Someone on Facebook compared the bookies and account closures to going into Tesco’s only to be banned for only buying the bargains – seemed quite a fair comment. Here’s what a few others had to say…
Great point Tom (if you read Tom’s Bio, he’s Ex Betfair). Betfair Made record profits of over £40 Million last year, guess they wouldn’t last long. For clarity: I didn’t suggest they ‘only’ lay winners, just everyone the same. I think Betfair would still do quite well from the amount of Premium Charges they take as well.
A quick google show’s that Unibet (that own StanJames) profit last year was recorded to be £69.7 Million.
Wow! this is terrible. For anyone that didn’t quite get that – the bookie allowed the user an account, they had to roll-over (turn their bets over several times) to qualify for the bonus payouts but then limited the user to maximum bets of a euro?! So, he couldn’t win his lost money back without pacing many bets reducing the chances of winning massively. If that’s striclty true it’s pretty horrendous in my opinion.
‘Licensed theft’ is a little strong, but in all honesty I can’t argue with that. It’s pretty clear; come and give us your money or we will close you down. That’s a lot of bookmakers you’ve had trouble there with too Michael. Fair play to the ones that haven’t closed you yet.
It is quite surprising how many don’t know about this kind of behaviour. I think in years gone by it was okay as they could just tell a punter to get out of the shop and not bet there again. But in 2016 with the rise of social media and the like more should know, by the way – if you agree feel free to tweet and share this post! Racing UK and ATR certainly won’t be sharing such content…
Too many to answer…
Sorry if I didn’t get around to replying on twitter, there was literally too many to answer!
Moral of the story? There is no ‘beat the bookie’… Exchanges rule!
Related Video: Bettings Biggest Lie
6 thoughts on “BEAT THE BOOKIE: Account Closed In Just 1 Day!”
Think it’s shocking really, if a bookmaker can be allowed to only take bets from losing punters isn’t that surely a business that exists to extort money from gullible people? Surely that should be illegal ?
If they advertise a price they should be obliged to take bets from any account holder with a maximum liability of say £300.
This week I had a Betbright account closed down and I’m £350 DOWN on the account, what’s that all about?
Great video and although it was a serious subject, that was the only time I’ve seen you get fired up good and proper over something!
Can I just ask you something completely different?
On one of your earlier videos, you did something like lay double the stakes and effectively showed how doing whatever you did effectively “increased your upside” I think you called it, ie the green figures in the ladder grew upwards and so effectively gave you more margin for profit?
It was quite a short video but I can’t find it and I always like to know the theory and how the maths works with these things so would you be able to just explain what strategy that was and how you apply it?
It was probably relatively simple but just can’t find it!!
Cheers
Kevin
Pinnaclesports is the only bookie not blocking succesful professional bettors with lowest margin,if you wanna bet better do it there)
Hardly a surprise they’d close down an arbers account, not rocket science for the bookies to figure out you’re laying off on Btfair especially the nags. If you want to keep the account you needed to either avoid the nags all together or be a lot more selective.
I’m not condoning their behaviour as I’ve had all my bookie accounts closed or severly limited, 365 shut me down even though the account had lost around £500 as a traders decision. The days of arbing easy cash or bonus bagging have long gone , if you want to arb these days for worthwhile amounts you’ll need to get yourself a few runners and play the shops.
Hi Caan
Here in Australia international bookies are doing the same with Australian punters.
Yesterday 17thFeb.2016 Beftair was off for maintenance in Australia, turnover at the races was up as you would expect however odds were approximately 10% down on normal.FUCK BOOKIES.
A great show for your followers to watch on the net is The Punters Show with a professional(mad)punter,bookmaker(works for ROBBIE Waterhouse)and a IT guy.They do tell it as it is not like most media in Australia.
http://www.puntersshow.com.au/
Bookies court the people that make the most money for them and treat everyone else like dirt. Before exchanges, the horse punter was the valued customer as thats where most of the money came from. Now they’ve got those stupid machines (wouldn’t use one if you gifted me the money to play it, i’d keep the money and go and have a cup of tea instead). The people using those machines are now the valued customers, everything will be done to attract them and keep them there. As a result, the horse punter is now persona non grata and can be freely treated like dirt without fear.
Given that horse punters kept these people going for decades, they’re currently being stabbed in the back for their loyalty. Ditch bookmakers, dont even play their machines.