Betfair Casino used to have a decent reputation among the online community. Customer support was bad, but they were a large & reputable casino that paid winnings quickly. However, this changed after Betfair's brief and unsuccessful Happy Hours reload in mid November 2010. The happy hours reload was unlimited with low wagering requirements. Betfair claims it was intended to be 50% to £100, rather than unlimited. As one would expect, many players took advantage of this stellar promotion and made large cashouts. It only lasted a few hours, yet some have estimated that Betfair lost an 8-figure amount. Betfair took surprising steps to recover this large loss, much like a rogue casino would do. Several players had cash removed from their Moneybookers account, and one player even mentioned having money removed from his bank account. Some players were later allowed to cashout out their winnings. At the time of this update, some players are still trying to recover their winnings, and Betfair has retrospectively changed the Happy Hours bonus T&C. I doubt Betfair will pusue similar actions with their existing sign-up bonus, as I expect that Betfair's reaction relates to trying to recover large and unexpected losses, with a new bonus. Nevertheless Betfair now has a poor reputation among the online community. A hilarious YouTube video about these events follows this warning.
Update -- As of March 2011, players have reported more problems with Betfair including locking accounts for unclear reasons, changing their T&C such that wagering requirements continue after busting and "pending winnings" are lost unless wagering is completed in 7 days (see T&C for details), and charging an account inactivity fee.
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