Coral Verification
-
Hey guys, I feel like I am in a bit of a pickle. I have been winning a lot on Coral (unfortunately) so now all my money is in there. I have requested withdrawal for £500 but now they want verification, which I have sent.
HOWEVER, I just read a review online from a guy in 2013 who said this happened to him, and then when he sent his valid documents they replied saying that his account could not be verified and would be shut. The kicker is this – they gave him the money he deposited back, but voided all his winnings. This would mean I’d lose a lot of money, so I am really worried. Do I hope that they don’t do this to me and take my chances? Or cancel my withdrawals and try and lose it all to the exchange?
Has anyone else had this kind of experience?
+2May 22, 2016 at 6:26 pm
-
-
New to matched betting?
My Matched Betting Academy is the best place to get started. Learning the fundamentals takes 10-15 minutes and you’ll make £15 in the process.
Learning the fundamentals takes 10-15 minutes and you’ll make £15 in the process.
Asking for verification is normal practice before a big first withdrawal.
If all the details you entered when signing up were correct then there should be no problems once they are satisfied the verification documents are legit.+0Yes had same issues with Coral they are worth watching overall – I cancelled withdrawal, luckily didn’t need the 350 I requested due to other funds available. Basically I took same tack as u suggested and drip fed my losses into my betfair acct over the next week / 10 days. My knowledge of the horses helped me back some no hopers and I recall it cost me about 10 pounds overall but well worth it in long run.
+0No such thing as a certain loser,could very well make the situation worse.
If you entered the correct details when setting up the account,dont worry.+0Who said there was such a thing a “certain” loser Patrick – or are you an expert? – if you’ve a strategy and a structure to lose cash into betfair it’s doable mate I can assure you – as long as you’re not rash at it!
+0
roly, if you know how to lose at the bookie and win at betfair that is great. You should consider giving up matched betting and just betting at betfair in that case though – you will be rich. It’s bad advice – how would you feel if the original poster ends up with 5 times the sum tied up in his Coral by trying to chase a loser as you posted (maybe he doesn’t have the knowledge of horses that you have).
I don’t think the original poster has anything to worry about at all. So long as you have the documents to verify your account. Its a bit tedious and a bit of a pain and I think I had a couple of issues where they didn’t seem to be acknowledging my emails (or I was sending them to an unmanned account!).
Try the withdrawal, send in the verification and if you have problems then maybe start the alarm bells then and only then.
+0Fog_blog – for your info mate I actually do operate a mixed operation of matched betting and laying on betfair. Keep them seperate and pretty successful on both thanks. Agree re the horse knowledge though – certain races are crying out for horses to be laid . A reasonable of certain sports would do similar job though in order to run down a bookie account.
+0
Roly’s suggestion is obviously terrible.
I really don’t see why OP is worrying about the verification process. Is it a case of finding one example of someone who was unable to verify their identity (in 2013?!)? Or is it more like… you are worried about verifying your account as you already have an account with them or something? There is no reason they wouldn’t verify your account if you are genuine.
Back to why Roly’s suggestion is terrible. Wait and see if your account is verified (as above). If verified, then you can withdraw. If for some reason they do not accept your identification, the money in your Coral account is worthless. Worthless. Having an edge on the market in terms of a laying strategy does not mean anything. You would have the same outcome if you just lay the outcomes on the exchange – the money in your Coral account can never be retrieved and is an imaginary number.
Anyway, I hope this is a case of the OP worrying about nothing.
+0Get regular offer updates, tip and tricks, big offer alerts and more straight to your inbox.
They did this to me. I’d been betting with them for many months and suddenly they bailed on my withdrawal and demanded verification. I went berserk. But in the end they just checked my documents and within 48 hours they’d processed my withdrawal
Unless you’ve been up to no good (multi accounting or something), I don’t think you’ve got anything to worry about.
+0
Also, it’s not a great idea to leave much of a balance in any bookies. I never leave more than £5 in any of them apart from the exchanges
+1Mark – lets bear in my mind I had similar issues with Corals re withdrawals / ID etc. Strategy worked out so there’s a track record there as stated.
I’m aware of similar issues raised in other forums and same tack was suggested, worked through and end of story.
Suppose we all need the confidence to see it through.+0
You’re missing the point. The money in the Coral account would be worthless. You have nothing to lose / “run down”… It’s already gone.
(I can write a number on a piece of paper and transfer that to the exchange using your strategy. That’s the same thing.)
+2
why doesn’t anyone send their documents when they open their accounts? I always do and have never had anyone ever ask again.
+0Not the case Mark – my account wasn’t frozen/ gone as you state. My account was allowed to run down to the credit of my betfair account. As mentioned in earlier posts – previous experience of Corals as highlighted !
+0
To put it bluntly roly, if you went on a winning run (as much as you think you wouldn’t) and ended up with a massive amount in there with nothing left in your savings you’re essentially broke.
+0
Yes, Roly. But if you kept winning and all your money was now on Coral, what would you do? You’d provide ID for verification and if they didn’t accept it, you’d be screwed. It’s clearly optimal to begin by verifying your account.
+1
You must be logged in to reply to this topic.
