Over £1000 in skybet account. Should I try to lose to the exchange?

I have over a £1000 winnings in my Skybets account (due to string of wins at high odds), and I want to pay most of this sum out to my bank account. However, I am wary of paying it out to my bank since I have heard that this is likely to attract attention from skybet management hence increasing my chances of getting gubbed. So I am thinking of placing more bets at high odds hoping they lose and this sum ends up at the exchange. A few questions:

1) what do people here usually do when they accumulate a large sum at the bookies? Do they try to lose it to the exchange (and hence lose a little of it due to commission and difference in odds)? Or do they simply pay out to the bank account?

2)When bookies restrict your account, can they refuse to pay out your winnings? So suppose Skybet gub me tomorrow. Would I be able to get my £1000 back?

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Adio
5

March 17, 2017 at 8:33 pm

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Tony G 11 March 17, 2017 at 8:39 pm

Of course they pay your money back even if they gub you. They are a legitimate company. Only really shady bookies would stall/refuse to pay you.

You can try to lose money from sky account to exchange but it’s more than possible you end up winning more with sky. Skybet is a recreational bookmaker and if you arb against an exchange which has sharp odds, the money will accumulate at the bookie. This is why bookies don’t welcome arbitrage – because they will lose long term.

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FoG_BLoG 49 March 17, 2017 at 9:15 pm

When I have a big balance I just withdraw!

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bobster 1 March 18, 2017 at 1:09 am

Don’t worry about it – they are a proper company.

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jameslegg97 10 March 18, 2017 at 12:33 pm

Yeah, there’s no sure fire way to lose money, so you can easily end up snowballing it and gaining more. There’s an element of luck with matched betting in terms of keeping accounts, and not winning bets at the bookies is one of those ‘luck’ elements. I’m in a similar situation actually, I’ve got a good 800 or so in Sky right now and going to withdraw soon.

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Dave_Jones 7 March 18, 2017 at 3:14 pm

I don’t think it makes much difference if you take the money our or not with regards to gubbing. I was recently restricted by Sky, and had a similar amount in the account to you. I did not take any money out (same reasoning as you have in your post) but it didn’t do me any good. I think if you have a string of wins in a short period of time at sky it probably signals someone to take a closer look at your account. Once someone with any knowledge of match betting looks at the account of a match bettor they will spot it straight away.

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CBG 7 March 18, 2017 at 5:58 pm

I unintentionally accumulated around £900 in my Sky Bet account in exactly the same way and decided to leave it there and gradually transfer it to Smarkets to withdraw. No such luck! No advance notification at all from Sky Bet but my stakes were restricted very heavily for a couple of weeks, then just before Cheltenham they gubbed me. First I knew about the gubbing was a short note hidden in “My Account” telling me that all free bets from Sky Bet Club had been credited and if I had been expecting one but nothing was there to read the FAQS to find out why. Live chat confirmed all offers withdrawn, and the usual excuse was trotted out – “the traders said so”.

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Pickle 58 March 18, 2017 at 6:52 pm

Just bet £200 on some arbs. If they gub you so be it but theyll do it sooner or later anyway so may as well make money out of it first.

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betman 41 March 18, 2017 at 7:16 pm

I wouldn’t do anything too crazy. Sky seem to review accounts after bigger wins. So either withdraw or just run a series of smaller non arb/offer bets against the exchange to give yourself a more ‘muggy’ history when they do look

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jimmyjames 0 March 18, 2017 at 7:47 pm

Withdraw it. I can’t see any rhyme or reason when it comes to gubbings and restrictions but if you follow the logic of ‘what would a mug punter do’ then I think that the answer would be to withdraw most if not all of it.

Also saves exhange commission and tying up your float and as others have said, it’s sod’s law you’ll hit at least one more winner.

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Adio 5 March 20, 2017 at 3:20 pm

Had two more high odds wins over the last couple of days. Looks like I’ll be withdrawing then…

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