New members Betfair offer query

[sillymoo]

Hello, newbie here, hope you can advise.

I signed up to a PA trial and opened Coral and Betfair accounts yesterday but... the Betfair offer for new members says "Stake at least £20 on your first Exchange bet. We'll refund you £20 should you lose it."

So my question is: how should I proceed? If I go ahead with the £5 Coral bet as per the tutorial, I'll lose the Betfair offer. Do I just bet £20 on anything random or could that cost me money even with Betfair refunding £20? I've never bet on anything in my life so don't want to make a mess.

Thanks.

 

[Jon]

Hello, newbie here, hope you can advise.

I signed up to a PA trial and opened Coral and Betfair accounts yesterday but... the Betfair offer for new members says "Stake at least £20 on your first Exchange bet. We'll refund you £20 should you lose it."

So my question is: how should I proceed? If I go ahead with the £5 Coral bet as per the tutorial, I'll lose the Betfair offer. Do I just bet £20 on anything random or could that cost me money even with Betfair refunding £20? I've never bet on anything in my life so don't want to make a mess.

Thanks.

[member=2431]Uhhhhh[/member]

 

[Uhhhhh]

Hello, newbie here, hope you can advise.

I signed up to a PA trial and opened Coral and Betfair accounts yesterday but... the Betfair offer for new members says "Stake at least £20 on your first Exchange bet. We'll refund you £20 should you lose it."

So my question is: how should I proceed? If I go ahead with the £5 Coral bet as per the tutorial, I'll lose the Betfair offer. Do I just bet £20 on anything random or could that cost me money even with Betfair refunding £20? I've never bet on anything in my life so don't want to make a mess.

Thanks.

[member=2431]Uhhhhh[/member]

Should get me a little bell, [member=1]Jon[/member]

[member=5645]sillymoo[/member] Betfair do a number of sign-up offers, depending on what link you click through to join. Sounds like you've joined through a link that gives you an exchange offer. Before advising you on what you could do, could you post the T&Cs from the Betfair offer please. Just need to know if it's got to be a back bet or lay bet at the exchange.

 

[sillymoo]

[member=2431]Uhhhhh[/member] I joined via the PA tutorial link. Here are the T&Cs https://promotions.betfair.com/uk-ready-20cb-standard-exchange (link under the JOIN NOW button)

 

[Uhhhhh]

[member=5645]sillymoo[/member] I'd go onto live chat and confirm whether it has to be a back bet or if it can be a lay bet, and if so does the £20 refer to the stake or the liability.

I assume that you've no other exchanges open? So you can't place a back bet on betfair exchange and lay it elsewhere, like Smarkets?

There are a couple of things you could do, but to be honest you're better off tagging a mod on the PA forum and asking for advice - what I would do in that situation might not necessarily be the most logical, or it might be harder to grasp if you're new to exchanges.

 

[sillymoo]

Thanks [member=2431]Uhhhhh[/member]
Betfair confirmed it has to be an Exchange bet, the £20 is the stake and it doesn't matter whether it's a lay or a back bet. I'll raise a ticket with PA, can't see an option to tag a mod anywhere.

 

[Jon]

Thanks [member=2431]Uhhhhh[/member]
Betfair confirmed it has to be an Exchange bet, the £20 is the stake and it doesn't matter whether it's a lay or a back bet. I'll raise a ticket with PA, can't see an option to tag a mod anywhere.

You can actually ring PA on 0115 824 3730 and they will help you over the phone

 

[Queen]

Thanks [member=2431]Uhhhhh[/member]
Betfair confirmed it has to be an Exchange bet, the £20 is the stake and it doesn't matter whether it's a lay or a back bet. I'll raise a ticket with PA, can't see an option to tag a mod anywhere.

on the forum, if you start by typing @ then "m" or "g" or a"" then a drop down list pops up with options to tag. I tend to tag administrators and moderators and sometime JamesPA as he is pretty shit hot at answering

 

[sillymoo]

[member=2508]Queen[/member] I thought the forum was only for proper members? I've only signed up to a free trial so far. Will have a look.

 

[Queen]

[member=2508]Queen[/member] I thought the forum was only for proper members? I've only signed up to a free trial so far. Will have a look.

ah man forgive me - I thought you were a full member

 

[Uhhhhh]

[member=5645]sillymoo[/member] See, what I would do (and please wait for PA to reply because their advice is better than mine, haha) is I'd either:

A) Go onto live chat and say that you think you made a mistake because the sign-up offer that you saw before you opened the account was the Bet £10 get £30 (here: https://promotions.betfair.com/uk-ready-zsk200-bet10get30?utm_medium=Partnerships&utm_source=2139736&utm_campaign=8916673&utm_term=4942866&utm_content=121595169&utm_ad=294542077&clkID=40211_FF5BE85656C44AF5ABE7A0743252C63E&rfr=40211&ttp=111&pid=2425029&bid=8142dclid=CNS56Kb7udECFRmZdwodMREJnQ) and play the ditz a little bit and say you somehow must've signed up wrong, and could they please give you that offer instead etc etc.
or
B) Do the Betfair exchange offer using another exchange (just wait on the coral offer for a day or two and do the betfair offer first by doing a £20 back bet on Betfair Exchange and laying it off elsewhere - obviously this may be an issue as you won't have any more exchange accounts just yet). You can lock in profit this way as the Betfair offer is basically a risk-free bet.


Personally I'd do A...but then, some people would not advise you going onto Live Chat and making yourself 'known' so quickly after opening the account. I'd still do that anyway though...if memory serves I did something similar when I opened my account because they gave me an offer that was different to what I had been expecting so I just played ignorant 'oh silly me' and they just re-credited the offer I was expecting in the first place.

 

[Jon]

[member=5645]sillymoo[/member] See, what I would do (and please wait for PA to reply because their advice is better than mine, haha) is I'd either:

A) Go onto live chat and say that you think you made a mistake because the sign-up offer that you saw before you opened the account was the Bet £10 get £30 (here: https://promotions.betfair.com/uk-ready-zsk200-bet10get30?utm_medium=Partnerships&utm_source=2139736&utm_campaign=8916673&utm_term=4942866&utm_content=121595169&utm_ad=294542077&clkID=40211_FF5BE85656C44AF5ABE7A0743252C63E&rfr=40211&ttp=111&pid=2425029&bid=8142dclid=CNS56Kb7udECFRmZdwodMREJnQ) and play the ditz a little bit and say you somehow must've signed up wrong, and could they please give you that offer instead etc etc.
or
B) Do the Betfair exchange offer using another exchange (just wait on the coral offer for a day or two and do the betfair offer first by doing a £20 back bet on Betfair Exchange and laying it off elsewhere - obviously this may be an issue as you won't have any more exchange accounts just yet). You can lock in profit this way as the Betfair offer is basically a risk-free bet.


Personally I'd do A...but then, some people would not advise you going onto Live Chat and making yourself 'known' so quickly after opening the account. I'd still do that anyway though...if memory serves I did something similar when I opened my account because they gave me an offer that was different to what I had been expecting so I just played ignorant 'oh silly me' and they just re-credited the offer I was expecting in the first place.

This is an offer on betfair exchange, not sportsbook

exchange never gub so sod cares if they look at your account lol

 

[sillymoo]

I'm afraid I've already spoken on the live chat to them and asked to clarify the terms of the offer so I doubt it they'd fall for it if I now said it was the wrong offer. I'll see what PA would advise.

 

[sillymoo]

I've got the answer from PA. I could either bet £20 and hope to win or open an account with another exchange.

Can someone please confirm whether I understand it correctly that if I was to bet the £20 on Betfair alone, I would need more than £20 in my account as my liability would be higher and that in effect even if Betfair refund the £20 stake I could still potentially lose the difference between my liability and my stake? Or did I get this completely wrong?

Otherwise I can see that smarkets has a welcome bonus of "deposit £20, get £10 bonus" so I could use this offer, although I'm not sure if there is more to this than just doing a back bet and a lay bet of £20 on both exchanges.

Gosh, it was meant to be easy to get started with matched betting. It feels tempting to just ignore the offer and get on with the tutorial.

 

[Uhhhhh]

The thing is though, even if you just do a bet on Betfair and hope it wins then you still may eventually need another exchange - if your bet loses at Betfair then you'll have a £20 free bet which will need laying off somewhere.

If you're doing a back bet on BFEx then you'll only need £20, if you're doing a lay bet then you'll need the liability amount, which may or may not be higher than £20, depending on the odds.

 

[sillymoo]

Thanks for all your help. After reviewing your suggestions and the info from PA support, I've decided to miss out on the Betfair offer. As a complete beginner I found it quite intimidating and this is most likely why PA don't use the Betfair offer in their tutorials.

 

[katykicker]

Thanks for all your help. After reviewing your suggestions and the info from PA support, I've decided to miss out on the Betfair offer. As a complete beginner I found it quite intimidating and this is most likely why PA don't use the Betfair offer in their tutorials.

Not to worry [member=5645]sillymoo[/member] there will be lots more offers

 

[DevilsMoJo]

Betfair customer service are not fit for purpose

They ask for proof of age, you send them a photo of your passport which includes your date of birth and they suspend your account because they are unable to confirm you are old enough.

Of course they, like every other exchange/bookmaker, do not carry out age checks on losing bets. An underage person could easily sign up, deposit money and place a losing bets.

 

[Jon]

That ID check is pretty common with bookies / exchanges when you first withdraw

I remember having to resend my driving license photo a few times as they couldn't read it properly lol