Protection for our money?

[N Counter]

Does anyone know what protection if any there would be for the money we have deposited with Betfair should the company fail? Would they be classed as a financial service provider?

[Shaun]

Not sure about the UK part of it as they are located in another country and seam to do as they please.

I am sure the Australian side has some sort of guarantee but after seeing the recent bookie failure and punters left with possibly nothing there is no way to guarantee a company that has no money to return.

If they close due to management raiding the accounts then nothing is for sure.

The best option is only have what money is needed to operate any account on a weekly basis deposited with any gambling site.

[flogger]

I'm pretty sure that the money is insured and that is standard for all credited sites.

Trying sending them an email @ info@betfair.com. They are the best people to answer your concern.

[N Counter]

Thanks Shaun and Flogger. I think I will email them.