Have you ever heard the expression, ‘you never see a poor bookie'? Well, there are 2 main reasons for that. Firstly, its because you never see any poor professional. Have you ever seen a poor accountant, solicitor or stock broker? There are poor accountants etc, but if they don't earn enough they just go bankrupt and go in to another profession.
There have been at least 2 high profile bookmakers that have gone under that I know of. First there was Premierbet.com. That was way back in 2007. I remember that well because I had a large withdrawal pending which never got paid. Premierbets problem was that they offered too good odds on some markets and when a series of results went against them, they ran out of money. Read more here.
The other bookmaker was Canbet in 2013. I stopped using them a while before they went bust but I knew something was wrong when they were offering some ridiculous bonuses.
The second reason is why you never see a poor bookie is that they ban winning accounts or restrict winning accounts so much that they may well. This actually happened to me
Dear Mr xxxxxxx,
Your StanJames.com username is: xxxxxxx
All Stan James accounts are reviewed on a regular basis by our Trading team, and due to betting patterns on this account the decision has been made to close it.
I would make you aware that this decision has been made at the highest level and will not be reversed. Any open bets will be honoured, and any outstanding balance will be returned to you via your normal withdrawal method.
The Stan James Team.
STANJAMES.COM – BETTING MADE SIMPLE.
0207 257 84 02 (Local/National Rate)
00350 200 44002 (International)
StanJames.com | 1 The Square, Marina Bay, Gibraltar
Licensed by the Gibraltar Government
StanJames.com advocates responsible gambling
Stan James closed my account after a long winning streak. At first they limited my stakes but in the end they closed my account. Its harder to get your account closed at other places though. Stan James are a bit slow in updating their odds so people like me, bet on them when they are best price when everyone else has dropped their odds. Its a bit stupid of them and unless they change that policy, they'll be a poor bookie. Bettors like me do provide liquidity and help balance the books. Limiting stakes is the way to manage winning accounts not outright banning.
I got another notice from Skybet by winning too much. I suspected that they were going to do something like that when they restricted my special bets to £1.
I am no longer eligible for certain perk such as free bet club or the best odds guarantee. Guess its them banning me without banning me.
We write with reference to the account you hold with Sky Bet, User ID: XXXXX
After a recent review by our trading team, it has been decided that this account requires tighter liability management. Unfortunately this means the account will no longer be eligible for any of our free bet promotions (including Sky Bet Club and Money Back refunds).
In addition, from this point forward any bets placed will no longer apply for Best Odds Guaranteed and will be settled at the price option taken upon placement.
The decision has been made in full accordance with the Sky Bet's Terms and Conditions which are available to view here
This decision is final and will not be overturned. However, if you require any further assistance with your account, please do not hesitate to contact us through our Help & Support site here
So bookmakers do close winning accounts but tend not to. Most sensible bookies just limit accounts. I've heard some big gamblers call Bet365 Bet £3.65 due to their stakes getting limited so much but thats the way to run a sports book. Banning accounts is just stupid.
If you want a bookie that doesn't ban winning accounts, try 10bet. They cater to the Asian highroller so you will have to be well up for them to limit your account. With a sign up bonus of £200 matched, its one of the most generous in the industry. Sign up here
- Use the bonus code FD200 upon your first deposit to 10Bet and you will be awarded a 50% welcome bonus up to £200 (or your currency equivalent).
- The bonus is released upon a one-time deposit wager, after which both the deposit and bonus amount must be rolled over 5 times on sports bets prior to cashing-out any winnings, otherwise – any bonus or winnings will be forfeited. Only settled bets can count for the bonus roll-over.
- All bets for the release and roll-over of the bonus must be on odds of at least 3/5 (1.60). Accumulator bets with total odds of at least 3/5 (1.60) also count for the bonus. Single bets placed on any type of handicap (except 3 Way Handicap), Forecast/Tricast or Over/Under markets do not contribute to the release and roll-over of the bonus. Non-qualifying bets can be placed, but such do not count for the bonus.
- Customers who deposit via Skrill or Neteller are not eligible for this bonus.
- The bonus receive and roll-over requirements must be met within 90 days from the initial deposit, otherwise – any funds held in your bonus balance will be forfeited.
- Each bet you place will contribute with a maximum of 50% of your bonus amount towards fulfilling the rollover requirements. For example, if your bonus is £100, the maximum amount each bet can contribute towards the rollover requirements with is £50.
- 10Bet's general terms and conditions apply.