Aussie Open Betfair

Trampas

Whats the story with betfair and aussie open.

You need to send them all load of stuff.

I wanted to back Nadal to lay in a couple of rounds and maybe Hewitt aswell but betfair wanted aload of ID

Can you get around this??

Paddy Irishman

Hi Trampas! I posted a similar query here http://www.boards.ie/vbulletin/showthread.php?t=2055216883&page=2 just yesterday but haven't received a thorough explanation of what's required by Betfair from an Irish customers point of view yet. Having read through Betfairs KYC section again http://help.betfair.com/contents/itemId/i65767588/index.en.html I get the opinion that you can deposit funds in your Australian wallet and punt away on the tennis. However in order to get any money back out of your Australian wallet you have to do these identity checks which involve posting or emailing some form of ID to Betfair in London. Also I think Betfair will ask you for this ID within 90 days of depositing funds into your Aussie wallet regardless of whether you try to withdraw money or not. What I was wondering is do you have to go to the hassle of getting the ID signed by a Garda or somebody of similar status and is it then shipped off to Tasmania, wherever that is. What did Betfair say when you tried to place a bet?

Benazir Bhutto

its a pain in the nutz to be honest.
I dumped a heap o cash in there for the f1 GP last year ,... couldnt get it back out without having to "earn" it thru all the hassle and registered post and rubbish like that.

Kiss your aussie wallet goodbye or prepare to go thru a long and fnucked up process of getting your hands on your own cash.

putting money into the Oz wallet will take seconds, taking it back will take weeks probably.

mike65

I take it this is some sort of Aussie rule which betfair have to follow?

long read

Betfair was granted an Australian licence in February 2006. Under the terms of this licence, money wagered on Australian markets must be held by Betfair in Australia.

As of August 2006, Betfair has introduced “wallets”, which are separate pools of money that you use to bet on either Australian or non-Australian markets. By creating wallets, Betfair is able to hold funds in Australia with which you can use to bet on Australian markets.

As part of being compliant with the Australian regulatory environment, we are required to validate the name and address details provided by you on your account. This will enable you to continue betting on Australian markets through your Australian wallet.

We recommend that you complete this identity validation process (kyc) as soon as possible to avoid restrictions on using your Australian wallet. These restrictions include:

• You will only be allowed to deposit a maximum of $US300 per month (or the equivalent in the currency on your account) for a 3 month period after funding the wallet.

• You will not be able to transfer any funds out of the Australian wallet. This includes the transfer of funds from your Australian wallet to another Betfair wallet.

• Your Australian wallet will be suspended after 3 months if the account has not been identity checked, and the funds will be frozen in the account.

• Your Australian wallet will be closed and all funds sent to the Tasmanian State Government in Australia if the account has not been identity checked within 2 years. You will then have to contact that Government in order to get your money back. The Tasmanian State Government has its own rules in relation to identify verification.

How do I complete the identity verification process?
Please select the correct regional location option from the left hand menu (UK, Australian or Rest of the World) for the relevant information on what is needed from you to complete this process, or alternatively go to the Introduction to Identity verification.

Please note: Only one Australian Licence Wallet is allowed per customer. Therefore, if you have more than one account with Betfair, only one of these may have an Australian Licence Wallet.

What happens if I do not complete the identity verification process?
If you do not complete the identity verification process you will be bound by a number of restrictions on your Betfair account. These restrictions are highlighted in the section ‘Why do I need to verify my personal details before I can withdraw funds from my Australian wallet?’
Please note that if you have not satisfactorily completed the identity verification process within 13 Months then the funds in your Australian wallet will be forfeited to the Tasmanian State Government in Australia, which we are required to do by law.

• As part of completing the required identity verification process, any documents submitted without certification as described in our method breakdown for each region, will not be accepted as sufficient proof of identity for you to fully use the Australian Licence Wallet.

My funds have been transferred to the Tasmanian State Government – How can I get them back?
The balance of your Australian wallet is transferred to the Tasmanian Treasury department if you do not satisfactorily complete the identity verification process within 13 months, OR if your account is dormant for a period of 2 years.
Once these funds have been transferred, Betfair cannot assist in reclaiming these funds on behalf of customers. Instead, you can send verification documents to the Tasmanian treasury department in order to reclaim the funds. The Tasmanian treasury department can be contacted using the details below:

By Email:
unclaimed.money@treasury.tas.gov.au

By Post:
The Secretary
Department of Treasury and Finance
GPO Box 147
HOBART
TASMANIA 7001
AUSTRALIA

By phone or fax:
Phone: +613 6233 2948
Fax: +613 6233 3697

Background Information on Australian markets
Betfair was granted an Australian licence which took effect from 6th February 2006.

Betfair Pty Ltd, an Australian company owned jointly by The Sporting Exchange Limited (Betfair’s parent company in the UK) and Publishing and Broadcasting Limited (an Australian listed public company),was granted a licence to operate a betting exchange in Tasmania from 12:00 (GMT) on 6th February 2006. As a result, all bets placed on Australian Events from 12:00 (GMT) on 6th February 2006 are now made with Betfair Pty Ltd.

“Australian events” means events that take place on Australian soil and/or any event that is specifically identified in the grey text to a market as being governed by Betfair’s Australian licence.

When placing bets on Australian events, you will be placing bets with Betfair Pty Ltd as counterparty rather than directly with other customers and you will be bound by the Australian Event specific Privacy Policy and Australian Market Terms & Conditions.

Betfair Pty Ltd has been issued with a Tasmanian Gaming Licence (TGL) in accordance with the ‘Gaming Control Act 1993’ and any conditions, rules and directions which the Commission determines to issue. The Act includes a number of important provisions of which you should be aware, including but not limited to the following:

• In order to place bets on Australian events all customers must validate their identity as per the rules outlined within the help page section ‘Why do I need to verify my personal details before I can withdraw funds from my Australian wallet’? This is a one-off requirement and once completed customers are entitled to bet on Australian events in the normal fashion;

• Your personal details and details of bets you place on Australian events can, at the request of the Tasmanian Gaming Commission (TGC), be disclosed to the TGC and certain regulatory authorities in Australia (see the Australian market specific Privacy Policy in the “About Us” section of the Betfair website(s));

• Customers may elect to place a limitation on the amount that they wish to be able to bet, they can exclude themselves from betting and in certain circumstances they can be excluded from betting by third parties who have a close personal interest in the welfare of the customer in question;

• It is an offence, punishable by criminal sanctions, including terms of imprisonment and fines:
1 for a direct participant of an event to place wagers in relation to that event;
2 for a direct or indirect participant of an event or an associate of such a person to place wagers in relation to an event in a manner that induces a competitor or official not to perform to the best of their ability, be biased or otherwise cheat;
3 for the owner of a horse or greyhound to “lay” that horse or greyhound (it is permissible to “back” however); and/or
4 for a person to cheat or assist in cheating in the conduct of gaming activity;

• Betfair Pty Ltd must always hold sufficient funds in Australian bank accounts to cover bets matched on Australian events;

• Key members of Betfair Pty Ltd and employees in positions of authority or control have been required and will on an ongoing basis be required to meet rigorous integrity requirements to the satisfaction of the TGC;

The above points are intended to highlight some of the key features of the Act. These points should not be construed as legal advice. You should read the relevant portions of the Act and, if necessary, obtain your own advice before transacting with Betfair Pty Ltd. You can view the full text of the act online

Details about the Tasmanian Gaming Commission can be found on the TGC Website or the TGC can be contacted about enquiries or complaints on +613 6233 2475


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Mike.

myflipflops

Don't waste your time with the Aussie Wallet, it's too much hassle. in my opinion, Betfair are shooting themselves in the foot with this. it wouldn't be too much hassle for them to set up separate areas for Aussie wallet users and others. basically it rules us out of stuff like the Aussie Open, The Tri Nations and the Super 14. The rules are their because online gambling laws are pretty strict in Australia. I don't see why that should affect us though!!

okidoki987

They shouldn't have the wallets so close to each other.
The Aussie one should be well away so that you don't click on the
wrong one by mistake.