Have you got an online betting account? Not using it that much? You could be being charged for such inactivity. There are a number of sites out there, Including: Betfair, Bwin, Ladbrokes, Unibet and Coral (to name a few) who, over recent years have incorporated into their terms and conditions, a rule which punishes customers whose accounts are inactive over a certain period of time by issuing them with an inactivity fee.
While the length of inactivity before being charged is generally quite lengthy, unsurprisingly, most customers disagree with such measures and understandably, feel aggrieved when finding themselves liable to fees after not using their accounts.
Online giants Betfair – widely renowned as market leaders in the world of betting exchanges – state on their website: “an inactive account fee will be payable by customers who have not logged into their Betfair account for thirteen consecutive months or more and who have a Betfair account in credit”. The inactivity fee varies depending on which country the customer resides, for both UK and EU customers it stands at £5/€5. Likewise, Ladbrokes also uphold a similar charge, consisting of: £2 or 5% of the account balance (whichever is greater) after an inactivity period of 12 months. Similarly, Coral say: “If your account has not been used to place a bet for 400 days your account will be deemed dormant and subject to dormancy fees”. While each site seems to vary slightly, similar charges and a period of roughly a year are themes that appear to run true.
In the grand scheme of things, these charges may well be somewhat insignificant; however, is it really fair for customers to be paying anything – regardless of how small – simply based on a period of inactivity? Probably not. Especially when you consider that there are any number of legitimate reasons as to why a member may be inactive, such as: Illness, loss of internet or long term travelling. Not to mention the simple fact that if a customer chooses not to use their account for a certain period of time, does this really matter? To a number of betting companies, apparently it does.
Again, although perhaps only a minor deterrent, it is worth shopping around to find those companies who do not issue inactivity fees. One such company is betting exchange World Bet Exchange (WBX) who are able to provide their members with the comforting knowledge, that regardless of inactivity length, they will not receive any extra charges.
Anyone with a betting account will have noticed regular emails from said betting operators. Often these emails are promotional, the type most people generally brush aside; however if you know your account has been inactive for some time it may be worth checking these emails. Likewise, if you’re not somebody who is regularly active, then simply logging into your account once in a while to have a little dabble is a good way to ensure that you do not become subject to charges for inactivity.
When using sites such as those above, there are a number of further negative conditions that punters should be cautious of. For example, in addition to inactivity fees sites such as Betfair also operate a premium charge aimed at a percentage of those feared customers whose accounts are showing a profit. This means, of those customers in profit a percentage will have to pay up to 60% of their gross profits in extra fees. These fees are in addition to the standard commission rates that betting exchange customers are already obliged to pay. Aside from this, closing member’s accounts and setting bet limits to very low amounts are a few other constraints that a number of betting operators have placed upon their winning members. On their own these occurrences may not seem a lot, but when you add them together they create a solid reason for punters to be alarmed. Such facts perhaps give punters further food for thought as to why using alternative sites can become advantageous. WBX are one of those alternatives and are fully licensed in the UK. Consider no hidden fees, such as: premium charges or inactive account fees, coupled with no account closures and the fact that winners are welcomed rather than feared and it becomes easy to see how WBX can be a beneficial, punter friendly alternative.