Anyone used BetFair?

[cheaporanges]

Anyone ever betted on BETFAIR before?
Is it legal in SA?
Been betting on there for 4 months, request a withdrawal of my winnings 4 1st time and some lady from the NEDBANK tells me they can't deposit the money because its illegal to bring in foreign gambling winnings.
Surely it has to be legal otherwise I wouldn't of been able to open an account with them in the first place!

Someone help me with some feedback,please!

Thanks.

 

[sybawoods]

Strange. Have been using Betfair for about 4 years now. Have never had a problem withdrawing my winnings. What method are you using to withdraw? Mine goes directly into a Visa c/c.

 

[Mephisto_Helix]

my brother used to use Betfair here and still uses it from overseas now ..... he never had a problem either

 

[cheaporanges]

I'm using mastercard to deposit.Can't withdraw back to mastercard so had to do a bank transfer.
Just got an email from betfair and they stated that Betfair is legal and that they have many SA customers!
Maybe its a mastercard thing or maybe Nedbank employees don't know their laws!
Maybe I should switch to VISA or another bank.

 

[sybawoods]

Yeah, MaterCard sucks. They don't allow you to transfer any money back into your card, which is really inconvenient. With VISA, you can transfer directly to your card, and the money usually reflects within 2 to 3 days. If you're serious about Betfair, I suggest you get yourself a VISA card. Alternatively, try Moneybookers - can transfer money in and out just as easily - just need to go through the initial verification.

 

[cheaporanges]

now have to pay NEDBANK R750 for them to send a document to release my money from the Reserve bank.Not looking good

 

[sybawoods]

Is it perhaps an abnormally large amount that may have attracted their attention?

 

[cheaporanges]

it was only $1750.

 

[Kaleb]

ooh I never heard of Betfair ? whats sports do they mostly involve themselves in ?

 

[sybawoods]

ooh I never heard of Betfair ? whats sports do they mostly involve themselves in ?

Dude, Betfair is *the* biggest betting exchange on the Planet. They do everything, from politics, to Pop Idols, the Dow Jones, and every live sports event on the planet. More importantly, they have revolutionised betting, allowing anybody to play the role of a bookie. You can "lay", as well as back e.g. in F1, you can place a bet that a particular driver will not win, as opposed to backing a particular driver. It's easy money, if you know what you're doing. You don't have to gamble - Betfair allows you to trade your way into a winning position no matter the outcome of an event. It's simple, but far too complicated to explain here . Use google, plenty of resources on the net to assist you. Betfair has been a very profitable sideline for me over the past few years.