Betfair Account – sudden negative balance

[johnzero]

I know this topic surfaces every so often, but I still can’t grasp the reason why it occurs (even after a tiring chat with their agents earlier)

I spotted my Betfair account showing a negative balance this morning, nothing huge but annoying nonetheless as I’m not operating on credit, so every wager or liability has been covered by the appropriate deposit.

Their ‘explanation’ is that because I’m involved in long term markets (ante post racing and political wagering) it’s happening due to partial settlements of the various markets and it’ll all work back to zero in the end. To which I asked ‘but why should I have to accept a negative balance to suit your machinations?’ The answer was along the lines of ‘perhaps you shouldn’t bet on long range markets’ …. well, I do!

Any simple explanation as to what exactly they are doing? I don’t consider myself entirely thick but I just can’t grasp it.

Johnzero

[johnzero]

I have various bets and lays, some markets green and some currently red (awaiting opportunity to go green I hope!)

[Venture to Cognac]

I’ve sent you a message John, mainly so I don’t make a fool of myself on here lol

[johnzero]

Thanks VTC. Got that and replied.

John

[johnzero]

All sorted, back to where I thought it should be.

Jxero

[johnzero]

What are they doing, it’s now back to negative. I give up.

[Author]

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