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Hi all,
Thanks to everyone for their input here. The issue of limiting bets or accounts is a long-running one in the gambling industry and one unlikely to be resolved anytime soon!
Markets are priced up in a way that gives the bookies a certain percentage margin, which can very widely depending on the sport/event, number of outcomes, etc. Prices can be shortened or lengthened while the book is open, but if there is little or no money on one side or another, this can leave the market looking very unfavourable to the traders involved. This is something that has to be considered during trading.
Since the rise of betting exchanges and odds comparison sites, along with more professional gamblers conducting their bettin online, trading teams have to have much greater awareness of potentioal arbs. 'Arb'ing can bring about very low margins for bookmakers and it is business many traders seek to avoid. If a customer is a known arber, it is likely they will find their betting limits reduced.
Bookmaking is a very different arena to a corner shop selling loaves of bread, where the shopkeeper can very closely forecast their profit margin on an item. There is likely to be no difference to the shop's profits if customer A buys the loaf or customer B. Betting is different. It has to be run as a business with different priorities to a general retail outlet.
There will always be business that our trading team does not wish to lay. The right to refuse the bet - either at the price or level requested, or in its entirety - is retained in our terms and conditions, as it is with all bookmakers. Customers' accounts are more likely to be evaluated on the nature of their betting than overall P/L. Our traders will restrict on accounts where they believe the customer is not likely to prove profitable in the long term for the business. This issue is not so much about profit in individual markets - there will always be the bad day for the bookies - but more about the long-term attractiveness of an individual customer.
Bet365 has continued to increase its market share dramatically since it opened its online doors in 2001, growing to become the UK's 32nd largest private company with over 700 employees.
If we had a trading team who could not handle large volume and fast moving markets profitably, this would not be the case. If a large proportion of our customers were not happy with our service, this would not be the case. If we only accepted small bets from small-time punters, this would not be the case. Bet365's restriction policy is only criticised by those whose business is restricted or refused - and there is a reason why that happens.
Bet365's reputation has been built on providing the widest range of markets, especially in-running and on less popular sports, and the highest levels of customer service. The ever increasing number of bettors who choose bet365 is testament to how well we provide this to our customers.
Cheers,
Kate
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