Bet365 penny accounts

mlblines

Newbie
Could someone explain what a penny account is and where we could find them? This could be a solution to many problems.
 

palsbet

Jr. Member
I believe we discussed that previously in our forum, but it seems we must elaborate a little.

Penny accounts can be found in countries where gambling is forbidden or very much regulated. In these countries, you can't bet in Bet365 or any other decent bookmaker or exchange. But you can bet in underground agents that offer lines to players. Many of them are also offering penny accounts.

The reason why everyone prefers Bet365 and not WilliamHill or Pinnacle is because Bet365's layout is simple and understandable even from kids. Here is another field where Bet365 is pioneering.

So the client receives a real Bet365 account with an initial deposit of 1-10 euros (these are random figures). The client pre-deposits a large amount of money to the agent, usually via the cash market. He then places his bets in the Bet365 account, but all bets are leveraged. For example, if the leverage is x100, placing a bet of 1 euro in the Bet365 account is equal to a bet of 100 euro in agent's balance. At the end of each month, or at the end of any squaring period, the agent is checking the account. If the client wins 10 euros, the agent adds 1000 euros to the cash balance of the client. If the client loses 10 euros, the agent deducts 1000 euros from the cash balance.
Usualy the agent and the client agree from the very start what markets will be used, and if the client bets on a forbidden (by the agent) market, no winnings will be credited.

No-one cares if Bet365 shuts the account or confiscates balances, because these are penny accounts and the real accounting job is held in cash.

It may sound like a very complicated way to bet, but in some parts of the world this is how gambling works. Someone with a lot of cash and good knowledge of value betting or arbing could become very rich in no time, but the agents are also filtering players and they reject action when they bleed money. But this could take a lot of time until it happens, and the client could go to another agent. However, the number of agents is not infinite.
 
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