Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on [email protected] for help. Thanks :)
Private profiles - please note that profiles marked as private will soon be public. This will facilitate moderation so mods can view users' warning histories. All of your posts across the site will appear on your profile page (including PI, RI). Groups posts will remain private except to users who have access to the same Groups as you. Thread here
Some important site news, please read here. Thanks!

Withdrawal strategies

  • 12-09-2012 12:21am
    #1
    Registered Users Posts: 430 ✭✭ OnTheCounter


    Hypothetical situation:

    My Bet365 account gets limited to e5 bets.

    I set up a new account in the girlfriends name. Deposit and win.

    I now want to withdraw from the account but dont want to have to get her to cash a large cheque and give me the cash.

    Looking for a crash course in betting strategy so that as her Bet365 account balance decreases my Betfair account balances increases.


Comments

  • Registered Users Posts: 3,734 zarquon


    You could fund the account from a moneybookers account and link that to your betfair account also. Bet365 will only allow withdrawals to the same source as deposits.


  • Registered Users Posts: 430 ✭✭ OnTheCounter


    While that would be handy the account is not in my name.

    This thread is about betting strategies to achieve an aim other than profit.


  • Closed Accounts Posts: 7,669 ✭✭✭ Colonel Sanders


    What I'd do is:

    Have your girlfriend/mother/sister/someone open an ulster bank account (ensure they are not based at the same address as you)

    You have the a/c number, debit card etc. Basically fund it & use it like it's your own a/c for punting & punting only

    They still have free banking & the bonus is there will be no gambling transactions on your "real" bank a/c

    Your betting bank is also separate so even without keeping records you can monitor your performance


  • Registered Users Posts: 1,988 ✭✭✭ BQQ


    I think he means something along the lines of:

    betting on something with only 2 possible outcomes like a tennis match, so he loses money from the bet 365 account, but wins on his betfair account by backing the other outcome.


  • Closed Accounts Posts: 18,335 UrbanSea


    So you're trying to arb, but the arbs can only be with Bet365 and Betfair, but the Betfair one will have to be the one that constantly wins?


  • Advertisement
  • Closed Accounts Posts: 7,669 ✭✭✭ Colonel Sanders


    UrbanSea wrote: »
    So you're trying to arb, but the arbs can only be with Bet365 and Betfair, but the Betfair one will have to be the one that constantly wins?

    Sounds very fishy tbh....


  • Registered Users Posts: 430 ✭✭ OnTheCounter


    BQQ wrote: »
    I think he means something along the lines of:

    betting on something with only 2 possible outcomes like a tennis match, so he loses money from the bet 365 account, but wins on his betfair account by backing the other outcome.
    exactly.


  • Registered Users Posts: 430 ✭✭ OnTheCounter


    UrbanSea wrote: »
    So you're trying to arb, but the arbs can only be with Bet365 and Betfair, but the Betfair one will have to be the one that constantly wins?
    thats it exactly.

    looking for strategies to minimise the cost.


  • Registered Users Posts: 5,968 ✭✭✭ hardCopy


    Is this not basically money laundering?


  • Closed Accounts Posts: 7,669 ✭✭✭ Colonel Sanders


    hardCopy wrote: »
    Is this not basically money laundering?

    It's sound like the kind if "tactics" that would be used by a money launderer

    However I'm sure the OP's intentions are honourable......


  • Advertisement
  • Registered Users Posts: 3,734 zarquon


    It does seem very suspicious but on the flip side to laundering, it could well mean just using his girlfriends details without her knowledge. She would need to verify the bet365 account for withdrawals but the OP can sign up with her name without her knowing it and then just use arbitrage by laying ob betfair against his backing on bet365. The question remains though why would the OP do this if he is not interested in profit as he should be funding the accounts from the same sources so it makes no sense if everything is above board.


  • Registered Users Posts: 430 ✭✭ OnTheCounter


    Lol, money laundering?

    I should have known better than ask here.


  • Registered Users Posts: 6,002 ✭✭✭ Hulk Hands


    Only way I can think of is by backing the long shots on Bet365, laying them on Betfair and hoping for the best until Bet365 empties. You're putting so much into lucks hands there though. If you honestly do have this problem, you would be better off finding a different method. Find out do bet365 cross their cheques a/c payee only. I can't see why they would. Get the cheque sent to a different address. 'Sign' it over to yourself. Lodge it to your bank a/c. Otherwise there's definitely a way to do it through Moneybookers/Neteller etc. I'm too lazy to go check for you


  • Registered Users Posts: 6,002 ✭✭✭ Hulk Hands


    I think you are on about arbing though. Do you have much cash to put into your Betfair? If so, find something you would lay, and are confident on. 1 event only, and the Bet365 price and Betfair price have to be largely similar. Lay on Betfair, back on 365 for full bank. Hope for the best. If it doesn't work out, save until you can afford to do it again.


  • Registered Users Posts: 430 ✭✭ OnTheCounter


    Basically thinking that the best strategy may be backing the likes of reading away to man city as the betfair prices on premier league games are the closest to the bookies price.


  • Closed Accounts Posts: 812 clickerquicklic


    You got limited at b365 - happens anyone that wins-bets value-arbs
    You openned up an account in your girlfriends name and now won money - Bet365 are very strict on multi accounting , i'm sure they still send address verification etc for new users .im sure they will only send money back to the same source you funded with , you cannot deposit with visa and withdraw with moneybookers .

    I wouldnt bet at high odds and hope to lose and win your lay at betfair because it could win and you end up with a bigger balance there. There are ways you can lose money on her bet365 to your by chip dumping or through some skill games like poker dice/dominoes/rummy etc but they might cop on make sure your 2 pc's are on different ip's


  • Registered Users Posts: 430 ✭✭ OnTheCounter


    You got limited at b365 - happens anyone that wins-bets value-arbs
    You openned up an account in your girlfriends name and now won money - Bet365 are very strict on multi accounting , i'm sure they still send address verification etc for new users .im sure they will only send money back to the same source you funded with , you cannot deposit with visa and withdraw with moneybookers .

    I wouldnt bet at high odds and hope to lose and win your lay at betfair because it could win and you end up with a bigger balance there. There are ways you can lose money on her bet365 to your by chip dumping or through some skill games like poker dice/dominoes/rummy etc but they might cop on make sure your 2 pc's are on different ip's
    there is always some nosy hoor watching the hu tables at the stakes i would require to chip dump and with winning every pot to minimise costs (very suspicious) it would cost me 10% of her balance and more if i made it "look good" with a logical betting pattern.

    betfair is the best way but looking for better strategies than betting on reading to beat man city at the etihad for example.


  • Registered Users Posts: 6,002 ✭✭✭ Hulk Hands


    Play like two maniacs, and go all in on races. If you would be able to lay Reading against City to make the amount that's in the 365 a/c, you obviously have enough cash to try this plenty of times even if 'she' got lucky. Obviously do it when one has the other dominated. You will have to be unlucky for it to go beyond one race and thus will only lose the rake, which should be as small or smaller than what you would lose on the Betfair commission anyway


  • Registered Users Posts: 430 ✭✭ OnTheCounter


    The smallest amount of rake payable if everything went smoothly would still cost more than betfair commission.


  • Registered Users Posts: 209 ✭✭ Tarzann


    He doesn't want the girlfriend to know how much he has won in case she wants him to treat her from his riches.


  • Advertisement
  • Registered Users Posts: 430 ✭✭ OnTheCounter


    Tarzann wrote: »
    He doesn't want the girlfriend to know how much he has won in case she wants him to treat her from his riches.
    not sure I want the gf.


  • Registered Users Posts: 3,734 zarquon


    Tarzann wrote: »
    He doesn't want the girlfriend to know how much he has won in case she wants him to treat her from his riches.

    More likely, the girl knows nothing about the bet365 account in her name :D


  • Registered Users Posts: 209 ✭✭ Tarzann


    And if the money in b365 is untouchable he should treat it as so, rather than following some BF staking system with pretty much imaginary money to hedge his bets and losing on commission each time.


  • Closed Accounts Posts: 2,666 ✭✭✭ Howjoe1


    Bump..rather than start a new thread:

    Over the years I have funded my Betfair account with a laser card and more recently a "top up" mastercard.


    So it seems I cannot withdraw back to the mastercard under mastercard rules. So what alternatives have I got aside from withdrawing back to the laser card?

    I requested a cheque once, but was told that I could only be paid by cheque when the total of my laser withdrawals exceed my deposits via laser :confused:?

    Is this correct? Has anyone ever been paid by cheque?

    Paypal & moneybrooker options seem to be available..but are they limited to withdrawing no more than deposited via that option?

    I have never deposited via Paypal, so does that mean I cannot withdraw existing funds to Paypal?

    Any help much appreciated.


  • Registered Users Posts: 430 ✭✭ OnTheCounter


    You have withdraw as much as you deposited with the laser then you can withdraw by cheque.

    Ask them what happens if your laser card is cancelled.


Advertisement