Betfair & Withdrawing Funds

No_Deal

Hi lads,

Just want to ask the good people of this board for advice.

I'm not a big gambler but do enjoy the odd flutter so set up a betfair account in June.

Nothing major win some lose some etc - however I betted in play on Sunday in the West Ham v Arsenal game in favour of the gunners and of course that back fired. It hurt and lost quite a bit - I know you should never go chasing losses but I did and lumped more money into the account this afternoon and placed it on City tonight v Scunthorpe - I was successful and now want to moreorless cut my losses and withdraw the bulk of the money in the account leaving a few euro for me to place if I want a flutter.

However heres where the problem begins - until now I wasn't aware of the issues surrounding internationally issued Mastercards - simply I cant withdraw from Betfair back into the Mastercard account. I also tried withdrawing via Paypal but encountered the same problem as my paypal account is set up with the same card.

As I said I want to get the majority of the balance out of the account and was wondering can people here suggest a way of doing it.

Thanks in advance,

ND.

AnonoBoy

On PP they send you out a cheque to the billing address of the Mastercard.

Now I don't use Betfair but surely there's some similar method on there too?

Former Great

No_Deal wrote: »

Hi lads,

Just want to ask the good people of this board for advice.

I'm not a big gambler but do enjoy the odd flutter so set up a betfair account in June.

Nothing major win some lose some etc - however I betted in play on Sunday in the West Ham v Arsenal game in favour of the gunners and of course that back fired. It hurt and lost quite a bit - I know you should never go chasing losses but I did and lumped more money into the account this afternoon and placed it on City tonight v Scunthorpe - I was successful and now want to moreorless cut my losses and withdraw the bulk of the money in the account leaving a few euro for me to place if I want a flutter.

However heres where the problem begins - until now I wasn't aware of the issues surrounding internationally issued Mastercards - simply I cant withdraw from Betfair back into the Mastercard account. I also tried withdrawing via Paypal but encountered the same problem as my paypal account is set up with the same card.

As I said I want to get the majority of the balance out of the account and was wondering can people here suggest a way of doing it.

Thanks in advance,

ND.

Jesus for a man whos not a big gambler u must of backing with big money cos id imagine both sets of odds would have been extremely short.. Do you mind me asking what were your bets?

Whyno

Direct transfer to your bank account.
You'll need your IBAN number and BIC code.

boccy23

Having done this recently you have to do the following:

As stated Mastercard will not allow funds back to their cards. Same as with PP and others.

You have to go to withdraw funds and chose the cheque option.

Now here is the problem. When you try to do this, it will say that your card is not validated.

In order to validate the card, you need to send a copy of your Mastercard with the last four digits showing to verification@betfair.com. They will then validate the card.

Once this is done, you will be able to get your money out via a cheque.

It's a pain of a process and I have to say that overall Betfair as a site is not user friendly, the prices are worse than most bookmakers for sports betting (not horse racing I agree), multiples are a joke and the minimum bet issue all means that I have cleaned it out and don't use it anymore.

raheny red

boccy23 wrote: »

The prices are worse than most bookmakers for sports betting (not horse racing I agree)

Examples please.

myflipflops

raheny red wrote: »

Examples please.

For most top level football these days, the 5% commision charge on Betfair negaties any price advantage they have. Football is so competitive that nealy every bookmaker worth their salt will price things like the Premiership to 105-106% and as such betting with Betfair gives no PRICE* advantage.

I'm not a football punter at all so I couldn't speak for lower grade stuff.

Also, for the smaller betting sports like rugby, the distinct lack of liquidity on Betfair makes it pointless to punt with them.

Betfair is really top notch for 2 things - horse racing (apparently, im not a racing punter) and cricket. For cricket, the prices and liquidity on Betfair for matches, especially in running, often make it pointless to bet anywhere else.

The idea that Betfair is always a better price than the high street is false.


*Obviously there are other advantages outside of pricing that you get with using an exchange.

boccy23

raheny red wrote: »

Examples please.

I stopped a couple of weeks ago but what pwhite says is true.

The single game odds are quite close but when the 5% comes off I am better off with looking around on the bookies web sites.

This comment mainly applies to Win-Draw-Win markets. On first goal scorer and correct score betting, odds on Betfair would be better. But I rarely punt these.

Just looking there you can get Arsenal with Ladbrokes, Boyles or Skybet at 1.61. They are 1.62 on Betfair but with the commission, the bookes are better.
Everton are 2.62 on Ladbrokes and 2.64 on Betfair.
Portsmouth are 2.5 with Boyles, same as on Betfair.

So it can be seen that no real difference exists. But without having to pay over your hard earned winnings.

Gillington

Yeah before I joined Betfair I thought it was the dogs bejingos but now I've been on it a while it's pretty crap to be honest pricewise,well for me just betting on footy really.The multiples are crap and the forum is just full of b******* really.

Gonna open a new account tomorrow,any recommendations?

soundsham

boccy23 wrote: »

Having done this recently you have to do the following:

As stated Mastercard will not allow funds back to their cards. Same as with PP and others.

You have to go to withdraw funds and chose the cheque option.

Now here is the problem. When you try to do this, it will say that your card is not validated.

In order to validate the card, you need to send a copy of your Mastercard with the last four digits showing to verification@betfair.com. They will then validate the card.

Once this is done, you will be able to get your money out via a cheque.

It's a pain of a process and I have to say that overall Betfair as a site is not user friendly, the prices are worse than most bookmakers for sports betting (not horse racing I agree), multiples are a joke and the minimum bet issue all means that I have cleaned it out and don't use it anymore.

odds worse than bookmakers:rolleyes:, dream on

allthedoyles

Gillington wrote: »

Yeah before I joined Betfair I thought it was the dogs bejingos but now I've been on it a while it's pretty crap to be honest pricewise,well for me just betting on footy really.The multiples are crap and the forum is just full of b******* really.

Gonna open a new account tomorrow,any recommendations?

Yep , I recommend using cash if possible and forget online betting , because , as you can see from reading these posts , it is always difficult to withdraw winnings ,

Is'nt in in the bookmaker's interest to make life difficult for us punters .

IMO online betting has many negatives , and I for one am finished betting online .

Anyway to anwer your question , - no , I cant recommend a new account , sorry

boccy23

soundsham wrote: »

odds worse than bookmakers:rolleyes:, dream on

Have to agree to disagree with you there. As shown above a bit of shopping around will match any Betfair odds on Win-Draw-Win and with no commission and no fecking around trying to get money back, I have closed the Betfair account.

Site is rubbish as well.

I agree with better odds on Horse racing and smaller markets in football, but overall, definitely not for me.

ErinGoBrath

allthedoyles wrote: »

Yep , I recommend using cash if possible and forget online betting , because , as you can see from reading these posts , it is always difficult to withdraw winnings ,

I'm sorry but that's just rubbish.

I use laser to deposit into my betfair account and withdraw back into my account in a matter of days. No problems whatsoever.

AnonoBoy

allthedoyles wrote: »

it is always difficult to withdraw winnings ,

I get a cheque to my house in a couple of days after requesting a withdrawal.

That's easy enough for me. I only withdraw winnings when I've made a decent profit and I'm not relying on the money to survive so a few days wait isn't what I'd class as 'always difficult'.

Former Great

AnonoBoy wrote: »

I get a cheque to my house in a couple of days after requesting a withdrawal.

That's easy enough for me. I only withdraw winnings when I've made a decent profit and I'm not relying on the money to survive so a few days wait isn't what I'd class as 'always difficult'.

How do you request a withdrawel , just send them an e mail is it..

gary the great

Im having a lot of difficutly withdrawing money from Betfair. I never bet except on big tournaments etc.

Won a few quid on the world cup and now I cant withdraw the money, everytime I try it says:

Your withdrawal request cannot be accepted. In order to be able to withdraw via Cheque please check that on all the other payment methods you have used (Mastercard) you have withdrawn at least the amount you have deposited.

This is listed no matter what option i choose, whether it be bank transfer or cheque or whatever. The card i deposited with was a Mastercard, so when i try to withdraw on that, it tells me "Cannot withdraw to an international Mastercard" even though its an irish mastercard.

So any ideas on how I get my money? this is ridiculous and will be the last time I bet with them, i'll just use the bookies from now on.

PAU

I have the exact same problem, any ideas guys??

gary the great

PAU wrote: »

I have the exact same problem, any ideas guys??

Email them. then they'll validate your card and let you withdraw any way you like.

Mezcita

This is a standard thing with Mastercard. In that you can deposit to bookies with them but any winnings cannot be added back on to the card.

Ways round it would be a bank transfer or cheque. I use my Laser card on Betfair which allows me to deposit (for free) and withdraw winnings without any problems.