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  • Betfair Allowed me to go well over loss limit In Arcade

    About a year ago I set limits on the amount I could lose on betfair casino, arcade and bingo. I set limits of £25 a week losses(or so I thought), on each of the casino bingo and arcade. When I log in I am able to view these loss limits. However I was able to spend much more than this on the arcade, and when I queried why I was able to lose so much I was told the £25 I set isnt actually losses but the total of my deposits plus £25? That seems really odd. A year ago or so I set loss limits for all bookmakers I joined, because I felt I was slightly vulnerable to getting a little carried away with roulette. Ive never had an issue yet with any other bookmakers, and they have successfully stopped me from losing over the agreed £25 loss limit. However, is the betfair loss limit actually a loss limit i.e you cant lose more than £x every x days, or is it you cant lose anymore than your total deposits plus x ? Ive won a fair bit on the exchange so Im currently in negative deposits. Im pretty mad I managed to lose such an amount and take full responsibility for it, but I believe betfair should have stopped when I hit £25losses. Am I being unfair? Here is a copy of my live chat dialogue:

    Betfair: Hello welcome to Betfair you are chatting with XXXX. How can I help?
    Me: hi XXXX, can you confirm if i have a loss limit on arcade games?
    Betfair: checking it out
    Me: thanks
    Betfair: so
    Betfair: you do have a limit of £25 per week
    Betfair: however do keep in mind that this does not include any winnings over and above your deposits
    Me: can you tell me how i was able to lose £700 today?
    Betfair: the reason would be that those would be losses from your winnings
    Me: I dont understand sorry. I thought every Monday you reset the total lost, and you can only lose upto £25 in that week. Is that incorrect?
    Betfair: its not every monday
    Betfair: its the day you set it upo
    Betfair: so
    Betfair: last refreshed on the 27th of this month
    Betfair: sorry, took some time to calculater
    Me: no problem just would like to understand it
    Betfair: of course
    Betfair: it is a bit complex
    Me: so since the 27th ive lost £533 in arcade. How is that possible?I just dont understand if you have a £25 loss limit it can be so high?!:s
    Betfair: so, the program would look at your site wide gameplay
    Betfair: and take into account your deposits
    Betfair: you cant lose more than £25 of what you deposited into the site
    Betfair: however
    Betfair: you can lsot more than £25 of money you have won
    Betfair: lose*
    ME: But that cant be right because Ive never been able to lose more than £25 in the casino?!
    Me: Ill leave it there XXXX for now, cant quiet get my head around it but ill have a look later to see if i understand it better! Thanks for your help anyway

  • To be fair to Betfair,that sounds perfectly reasonable to me.The loss limit is there to prevent you from losing too much overall in any week.It limits the amount by which your losses can exceed your winnings.It is not a 'trailing stop-loss limit' - it won't prevent you from playing away any amount of winnings you have managed to accumulate.
    That allows you to play more,and since the odds favour Betfair,you are likely to lose eventually.The rule is designed to favour Betfair,within the limits of you losing a maximum of twenty-five pounds per week overall.You are likely to lose twenty-five pounds in most weeks if you continue to play.
    Sorry to sound so hard,but this benefits you in that it hammers home the message of what is likely to happen if you continue to bet when you know that the odds are against you.

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    • Actually I was correct afterall. A £25 loss limit on arcade is exactly that i.e you cant lose more than £25 on arcade no matter what you have won/lost on exchange/casino etc. Betfair have admitted there has been an error in their system and they are investigating how it managed to happen. They are also going to look into how much money I lost that I shouldnt have been able to lose so Im quiet hopeful of a positive outcome

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      • Apologies - you were right,I was wrong !

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