One of the biggest fears that a successful punter might have is getting limited or banned from a betting website. The websites may do so in order to cut their losses, but term them as a `business decision´. While betting sites may ban you, do betting exchanges like Betfair do the same? Can you get banned from Betfair?
The answer will please you!
Can you get banned from Betfair?
No, Betfair will not ban you. And there is a good reason for that.
Betfair, being a betting exchange, has a different business model from traditional online bookmakers. When you bet with a bookmaker, it is known as a `back´ bet, meaning you are `backing´ a team to win, or an event to occur, and the bookmaker wages a corresponding `lay´ bet, for the event `not´ to occur. When you win a bet with a bookmaker, the winnings are paid up by the bookmaker themselves.
When you are on a winning spree, the payouts can pinch a bookmaker’s bottom line, and they may decide to ban or limit you.
Betfair is just a platform that brings together `back´ bettors and `lay´ bettors. Players bet against each other, and Betfair charges a commission on every winning bet placed. The winnings are not paid by the site but are settled among the bettors themselves.
The commission charged by Betfair is usually about 5% of the winning amount. Regular players on the exchange may receive a discount, based on the `points´ they have accumulated. Points are awarded based on the previous commissions that a player might have paid to the platform.
In a nutshell, the business model of Betfair is such that the more the number of players participating on its exchange, the more is the potential winnings, and that translates into more commission for the site. Therefore, Betfair does not ban its players.
Can you get banned from Betfair? Only if it comes to know that you playing from a country that it currently does not support.