20 thoughts on “INDIA: Exchange Account Closed? Help…

  1. Hi caan! I have moved to London few months ago and I am working on Betfair platform.
    I want to know if there is any relevant legislation concerning betting exchange and if these kind of winnings should be declare on self-assessment.
    I know that if you are self-employed you have to fill a self-assessment tax return form and send it to HM Revenue & customs.
    I also want to know how I can prove that I am working as a self-employed with the Betfair platform, because in case of Brexit I need to prove that I am working in UK.
    Thanks 😀

  2. Hi Giuseppe,

    If you are using your own money then no there is nothing to worry about with the revenue. Unfortunately if you make all of your cash through trading on the exchange this is not recognised as employment. Pro’s and con’s working both ways 🙂


  3. Hey caan, you are my betting guru. I had purchased you book on Betfair trading made simple and volla. Within two months my Betfair account closed as I belong to India. Then I downloaded geeks toy for matchbook but unsurprisingly matchbook customer service told me that they won’t cater to indian customers in the future. So I am pretty hopeless now. I made around 7000 GBP last year on cricket and football trading ( without a software). Thank god I did not leave my full time job as I was planning to switch to full time trading football and horse racing markets. after going through your books and my future plan was to subscribe to your video lessons. But alas. Half of my yearly earning is in shadows right now.

    Let’s see if things change in future.

    Onkar from Pune, India

    1. Hi Onkar,
      Sorry to hear that buddy. It’s never fun for those affected when these sort of things happen. However, I would guess 7k a year isn’t too bad in india? Could be worth looking about for alternative options.

  4. betfair powered other exchanges are working now but problem is only selective matches u can bet either on football or tennis as compared to parent betfair.com

    1. I agree with this. One of the exchange site did fraud with me. On both of my withdrawal, they charged me a huge amount summing the loss to 35k INR. Can anyone suggest me how to report fraud in such cases?

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