What would do with £3050 stuck in BetPhoenix with a £42.5 k wagering req?

[Imperate]

Hi,

My friend (yes, it really is my friend and not me!) is in something of a predicament. He signed up to BetOT back in 2009 before they went bust, the balance got transfered over to phoenix when they bailed out betOT and he's had £3050 just sat in there doing nothing ever since with a £42.5k risk/win wager on it. It's a long story how this happened, but probably not important. I'm going to help him get the money or at least as much of it as possible out now, we've finally got round to doing something..

I'm just wondering if people could offer some advice, what would others do in this sit?

They've offered to allow him to w/d 500 (the initial deposit), but no more...I thought they may have been willing to buy out for some higher percentage but it seems not (it's hard to negotiate with managers via live chat though on these matters). As for completing the WR, I'm no expert on US books, mostly doing UK offers, but trying to dutch with Pinnie, I seemed to be finding the best odds gave me losses of £5 per £100 wagered , which would imply losses of around £2k over the full course of the wager!! Should I be doing better here? Also theyve limited us to £250 per bet, meaning 170 separate bets, which even at one a day would still take me 24 weeks to plough through!!

I'm hoping someone wiser might have some insight?

[The_Reaper]

Would your friend consider it written off already?

Id be tempted to mug it, at £250 per bet, maybe following a tipster or something similar. Try and have fun with it.

[Imperate]

Would your friend consider it written off already?

Id be tempted to mug it, at £250 per bet, maybe following a tipster or something similar. Try and have fun with it.

Quite possibly an option.

One thing I'd like to check is if my losing £5 per £100 here is silly? It's the best I could find against Pinnies, but maybe people would do better? I don't know....I guess one would have to do better lots of times each week to ever stand a chance of ploughing through this beast though.

Any other considerations?

[lotte]

I would just simply flat gamble it. Maybe not as high an amount as the reaper mentions but somewhere around £50-£100 a bet and see where it goes. If you are going to try to match it out then you are left with the possibility of having a friggin huge balance in there. If the WR was say £20k then I would have said match it out, but £40k+ is a little silly.

[dark_knight]

Worth noting there have been payout delays here. Personally, I wouldn't want to risk matching and end up with a large balance in here.

[LFC81Eoin]

Ah BetOt theres a blast from the past. I once had a balance of ~17k there after taking 500 for 500 bonus ( if memory serves me right) anyway completed wr and they refused payout ,long story short eventually transferred balance to pheonix also had a big wr when balnce was transferred think it was 3x transfer amount . Initially my idea was to match it out as pheinix were fairly reputable in 2009 but after matching with other us books i had a wr with and balance hitting near 20k i decided to mug it .

I placed bets on draw 100 at atime iin every soccer game they offered regardless of odds and eventually finished the wr close enough to original balance , if i was to do it now id probably take a different approach and value bet it ie. search for odds as if younwere going to match it out and just place the bet leaving the other side unmatched ( that way at least you should be getting close to true odds and over a 42k wr hopefully it should make a difference to your return)

Good luck whatever you do not a nice position to be in.

[Imperate]

Thanks for the replies. Maybe mugging it will be the way to go...

[ElPresidente]

If you try hard enough it wouldn't be too hard to arb it out. The only problem could be ending up with a lot of money on BetPhoenix side (which is quite possible to happen as you'd be hitting their softest lines...) and getting stuck in a slow pay situation.

[moocher]

I wouldn't risk any more money ans would just place shed loads of £100 bets on whatever they had odds on and leave it to the gods of chance. Likely to come out with way more than £500 !

[Imperate]

Thanks for the replies again. Some complications (as if anymore were needed) I've just discovered is that the £2k bonus was actually freeplay, I think this translates to it being sticky? (or maybe just SNR? I forget the terminology).

So I think my friends position is ~£1.5k own cash sunk into this so far, but with a balance that consists of £2k freeplay, £1050 cash. With a £42.5k risk/win WR.

Until I read about this freeplay aspect I was adamant on starting with the pure mugs, but now I'm not sure if this strat works anymore. Not sure what to do.