TheRX.com is proud to welcome Betfair.com as our latest sponsor.

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SportSavant

New member
Joined
Sep 21, 2003
Messages
42,910
Please join me in giving a warm welcome to our newest sponsor Betfair.com. Betfair is the worlds largest sports exchange.

Betfair has a special offer for TheRX.com website visitors which can be seen here, and is much better than their standard promotion:

TRX100

simply use the promotion code above for a Free $100 or 100% bonus from Betfair.com.


Its simple

1) Open your account (3 mins) using code TRX100 by clicking HERE

2) Deposit $100 then bet $100 in one go, or a series of bets (e.g. 4x$25 bets)

3) Win or lose, $100 will be deposited in your Betfair account

please click HERE for Betfair.com bonus terms and conditions.

note: at this time Betfair does not accept USA residents.
 

Betfair.com

use code "TRX100" = $100 Free for TheRX members
Joined
Dec 2, 2008
Messages
1,712
Hello Rx from Betfair

Thanks SS!

I wanted to say hello and let you know I'm looking forward to getting involved with the posting community here on theRx.

I'd also like to mention that although we don't accept US players right now, a google search about our US activity will point out that we are actively seeking ways to do business with Americans.

As for Canadians (and other currently accepted players):

Account Help is available 24/7.
By Email: info@betfair.com ('Canada' in the Subject Line)
By Phone: 1-866-381-7119 (Free from Canadian landlines)

Click here to see a demo of How Betfair Works (Our standard FREE $25 Bet Code for Canadians is in there)

Click here to find out about Canadian Payment Methods

I will also post a Q&A thread in the next day or so... Anyone can post questions for me, there.

Thanks again for the welcome. I look forward to hearing from you all.

Rob
 

red007

New member
Joined
Sep 21, 2004
Messages
3,624
i used to like reading the sports (tennis) forums at betfair. americans weren't allowed to post but we could read them.
now they won't even let americans read those.
 

trytrytry

Member
Handicapper
Joined
Sep 21, 2004
Messages
22,509
the google option sounds interesting to learn more..I think Im on that..what key words should I use? "betfair american customer"?
 

SportSavant

New member
Joined
Sep 21, 2003
Messages
42,910
found an interesting article here:

Betfair, U.S. Horsemen Continue Talks
by Tom LaMarra
Date Posted: 7/19/2008 8:44:14 PM
Last Updated: 7/23/2008 9:05:12 AM

Betfair, the Great Britain-based online betting exchange, continues to negotiate with officials in the United States and is inching closer to a deal by which it would compensate horsemen for use of their product.

Betfair officials, who attended the National Horsemen’s Benevolent and Protective Association summer convention in Pennsylvania July 18-20, said the company doesn’t accept wagers from U.S. residents, but it takes bets on U.S. races from players in other countries, including Canada. Betfair officials have been in talks with the Thoroughbred Horsemen’s Group, which is attempting to increase purse revenue from pari-mutuel wagering.

“We’re actively negotiating with the THG,” said Christian Hellmers, a U.S. representative for Betfair. “We would hope to be able to reach an agreement soon. We’re focusing on the U.S. right now. We’re investing more resources. We’re in the fourth quarter of our negotiations with the THG.”

Betfair isn’t pari-mutuel. Players make bets against each other on various propositions, including horse racing. Some racing officials have expressed integrity concerns because with Betfair, a customer can play a horse to lose.

In 2007, Betfair produced turnover—handle—of $368 million on more than 40 sports. The company has worked out deals to compensate the horseracing industry in countries such as Great Britain, where it has been embraced.

Peter Probert, head of integrity for Betfair, said the company has a “Fraud Team” of 35 people in Australia, Great Britain, and Malta who monitor activities 24 hours a day, seven days a week. Betfair also has memorandums of understanding with 35 regulatory agencies, including the U.S.-based Thoroughbred Racing Protective Bureau.

Probert, who spent 18 years in the Royal Air Force intelligence branch, said Betfair shares information with the agencies and assists with any investigations. He said partners have access to real-time monitoring of betting activity.

Nick Coukos, executive director of the Ontario HBPA, said he uses Betfair but doesn’t play horses through its system because no money is returned to the Canadian racing industry. That, Coukos said, is a major stumbling block for the company.

“I think something finally needs to move forward before Betfair can be (embraced) in North America,” Coukos said. “Betfair has tremendous products, and our industry is starving for an alternative wagering platform. If you can get a deal done in Canada that works, it would be a huge step toward getting into (the U.S. market).”

Betfair officials said a proposal on the table would compensate the U.S. racing industry for wagers made on its races in other countries.

“We’ve been very forward with our approach,” Hellmers said.

“The company recognizes you guys put on the event,” Probert said. “The opportunity is there. It’s down to negotiations between the company and the authorities.”

THG president Bob Reeves said there has been “ongoing dialogue” with Betfair, but he stopped short of saying a deal is close.

“Our group hasn’t been together on it because there is a lack of understanding (of how Betfair operates),” Reeves said. “They are accepting wagers on horse racing from non-U.S. residents and not paying us anything for use of our product. I think the U.S. horseracing industry should sit down with them and work out a deal.”

If a deal is made, Betfair most likely would pay a flat fee to U.S. racing because its wagers aren’t made into pari-mutuel pools.

According to its annual report, Betfair on average process almost 5 million transactions per day, more than the European stock markets combined. In 2007, the company had 433,000 “active users” during the year, an increase of 57% from the previous year.

The only legal form of Internet wagering in the U.S. is pari-mutuel wagering on horse racing. Since passage of the Unlawful Internet Gambling Enforcement Act of 2006, federal investigators have gone after a few offshore bookmakers who took bets from U.S. residents.
 

BCTTWR

New member
Joined
Nov 18, 2005
Messages
520
Betfair is only negotiating with the USA for horse wagering. Big fucking deal. Why don't they tell the U.S government to fuck off and allow citizens of the land of the free to make wagers on sporting events.
 

trytrytry

Member
Handicapper
Joined
Sep 21, 2004
Messages
22,509
SS I thought the comment was for US guys to google it and find some secret methods to get into betfair that are best left out of the major forums...but I dont see anything other than they would like to use US and horse action... I would love to play at that exchange if I could.
 

Santo

New member
Joined
Apr 4, 2005
Messages
4,615
Betfair is only negotiating with the USA for horse wagering. Big fucking deal. Why don't they tell the U.S government to fuck off and allow citizens of the land of the free to make wagers on sporting events.

It's not Betfair's policy to do that. They take a follow the law policy, which has worked well in the case of Australia (where they won court battles and are now legally recognised), and I expect them to now follow that approach in each country they want to expand into. Lobbying over rebellion.
 

SportSavant

New member
Joined
Sep 21, 2003
Messages
42,910
SS I thought the comment was for US guys to google it and find some secret methods to get into betfair that are best left out of the major forums...but I dont see anything other than they would like to use US and horse action... I would love to play at that exchange if I could.

that is not a possibility to the best of my knowledge, but maybe someday.
 

-Slim-

New member
Joined
Jan 1, 2001
Messages
17,696
Wow, very cool, does that mean I get a soccer jersey from one of the teams they sponsor for free? :)
 

JakeT.

New member
Joined
Apr 21, 2002
Messages
28,149
Welcome to theRX BetFair!
 

Railbird

The Great Govenor of California
Joined
Feb 21, 2001
Messages
15,879
best book in the world, maybe obama can work something out for usa. so tired of this police state.
 

Muddy

New member
Joined
Sep 21, 2004
Messages
2,932
<TABLE class=forumline cellSpacing=1 cellPadding=3 width="100%" border=0><TBODY><TR><TD class=row1 vAlign=top align=left width=150>esv
Fresh face


Joined: 08 Sep 2008
Posts: 2
Location: Sweden
</TD><TD class=row1 vAlign=top width="100%" height=28><TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR><TD width="100%"> Posted: Mon Sep 08, 2008 10:26 pm Post subject: Betfair introduces 20% tax on winning players</TD><TD vAlign=top noWrap> </TD></TR><TR><TD colSpan=2><HR></TD></TR><TR><TD colSpan=2>Got an interesting mail from Betfair today explaining their new "Premium Charge" policy... details here.

<TABLE cellSpacing=1 cellPadding=3 width="90%" align=center border=0><TBODY><TR><TD>Quote:</TD></TR><TR><TD class=quote>Premium Charge Summary

You will only be considered for the Premium Charge if, over the previous 60 weeks, you satisfy the following criteria:

Your account is in profit;
Your total charges paid are less than 20% of gross profits; and
You bet in more than 250 markets.

Each week the customers who meet all the conditions set out above will be charged the lesser of:
The difference between 20% of the previous week’s gross profits and the total charges paid during the week; and
The difference between 20% of the previous 60 weeks’ gross profits and the total charges paid during that period.
</TD></TR></TBODY></TABLE>

In other words, Betfair is of the opinion that 20% of your winnings rightfully belong to them. If your account shows profit over the last year, and the total commission you have paid is less than 20% of those winnings, Betfair will steal money from your account to make up for the difference.

Every week that your account turns a profit, Betfair will deduct 20% from your winnings until charges paid equals or exceeds 20% of your net winnings over the last 60 weeks.

Seriously, what's the point of a betting exchange that doesn't allow players to win?
</TD></TR></TBODY></TABLE></TD></TR></TBODY></TABLE>
 

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