If your Betfred account has recently been limited or restricted, it’s likely caught you off guard.
A lot of casual punters aren’t aware of this practice, but it’s far more prevalent than the betting companies let on. Betfred stake limits betting accounts if they believe you might outpace them over time. It’s an unfortunate truth.
In this article, I’ll delve into why Betfred places restrictions on betting accounts, how these limits and constraints come into play, and the optimal way you can manage this scenario. Hopefully, by the end, you’ll be in a far better position than you are now!
Why Does Betfred Stake Limit Bets?
Betfred limits betting accounts and stakes because it boosts their profit margins; it’s as straightforward as that.
Typically, they only place limits on specific bets because they aim to keep you engaged with the casino or other games (the ones you can’t win on). Shutting down your account entirely would be counterproductive, so instead, they opt for this stealthier way of restriction. If you’ve used tools like Outplayed Pro you may have heard people call this gubbing (a slang term used by matched bettors).
Consider the Betfred example slip below:
Upon submission, the red figures show the revised amount Betfred was willing to accept. It’s far from the worst I’ve seen, although the stake has been restricted to £14.25. By continually betting at value, this figure is then reduced further and further until it’s something silly like £2.
Welcome to the world of dirty tactics employed by bookmakers.
Bookies are aware that this practice is unreasonable and not in line with their marketing, yet it remains within legal boundaries – and that’s why they proceed this way.
The most recent practice they seem to use is the exploitation of regulation and deposit limits. It’s just another tool to get your bank statements and avoid paying (only after you have deposited of course). If they’re going to limit your stakes to such minimal amounts, it’s almost equivalent to a subtle account closure. It’s like a covert way of sidelining you, but the gambling regulator allows it.
The criteria they employ to decide these restrictions is rather shrewd…
How Do Betfred Choose Accounts to Restrict?
Betfred seems to employ a value factoring system, akin to numerous other leading betting firms. It doesn’t mean that your account or stakes will be restricted for simply winning, but more if you were routinely ‘beating the closing line’. In short; if you beat the line, you come out on top long-term.
Their computational models aim to detect when a user places bets with value. Grasping this concept is pivotal because it’s not strictly about the monetary gains or losses you’ve encountered. You might have endured a streak of unfavourable outcomes and lost a significant sum. Yet, Betfred is aware that, in the long run, you’re poised to have the upper hand against them. Consequently, their algorithms prioritize identifying value over net profit.
By capping wager amounts, they can curtail the value you extract.
For the mainstream bettor, this might be perplexing. After all, some VIP clients could seemingly place wagers amounting to £2,000, £5,000, or even £10,000 per bet. The algorithm permits this because their betting choices tend to be of lesser value (meaning they’re more likely to lose over extended periods). There’s a video about this on our YouTube channel.
Hypothetically, if one were to shift their betting habits to consistently opt for lower-value picks, it’s conceivable that Betfred might reconsider their restriction thresholds.
However, from my observations, I’ve yet to witness anyone successfully leverage this approach. It might appear that once they’ve labelled you as savvy, there’s no going back. It makes sense I guess.
Why would they want to take the risk of losing money? You have to remember Betfred is a large corporation now, it’s all about quarterly profits.
What to Do If Betfred Refuse to Pay You:
In today’s age, it’s not uncommon for bookmakers to find reasons to withhold payouts. Betfred is no exception, although I don’t believe them to be the worst. Despite what some people may say, it appears that the founder, Fred Done does care about his company’s reputation a little.
In many situations, Betfred and similar firms bank on the fact that most people won’t escalate such issues to legal channels. They’re well aware of the time, effort, and financial resources such endeavours demand. It’s essentially a sly move to wear you down, thereby sparing their coffers. After all, each year millions of betslips are never cashed in!
If Betfred does deny a payout, I’d recommend submitting an IBAS complaint and subject access request to the company (template opens in a new tab here).
I can’t emphasize this enough: it’s imperative to adhere to the outlined protocol and commence with the preliminary steps if you aim for a favourable outcome. Typically, the initial phase shouldn’t take more than half an hour. Once you have been through the complaints procedure and IBAS have responded, you have a far higher chance of getting paid. In most cases, the company will just settle mid-request if they think you’re right.
Closing a Betfred Account
If you encounter such issues, my top recommendation would be to terminate your Betfred account. Request that they purge your information from their databases before considering signing up with a sharp betting service that won’t treat you like this!
You can get a betting exchange account here (no restrictions).
By urging them to erase your data, you might be safeguarding your future interests. Frequently, these major betting corporations acquire smaller entities, which gives them the capacity to identify you as a profitable bettor down the line. This could potentially influence your betting in days to come.
While this step might not restore your betting account, it does ensure they have an added task on their plate and aids in averting potential future issues. Sadly, such account limitations and closures have become the norm in today’s betting landscape. Getting an account re-opened has a very low chance.
Betfred Account Restrictions Concluded…
The regulatory bodies supervising Betfred’s processes just watch on while all this happens (with multiple bookies).
The proposal is leaning towards permanently allowing entities like Betfred to handle affordability checks. Betfred’s senior staff have said, on record, that they want more affordability checks in shops.
Within the bounds of the regulated market, there’s limited recourse available to the customer. If you’ve faced such issues, it’s essential to reach out to your MP and submit feedback to the UK Gambling Commission. The practice of limiting and restricting betting accounts remains contentious, and they need to be informed of such concerns!
Meanwhile, it’s probably best to look at alternative options (like betting exchanges).