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Betfair is a British gambling company founded in 2000. It operates the world's largest online betting exchange. Its product offering also includes sports betting, online casino, online poker, and online bingo.
For this reason alone, Betfair has no reason to ban or close your account when you should win. This is what Betfair first became famous for; peer-to-peer betting. Whilst the Exchange account won't be closed for winning, there is an additional commission rate.
Unless we've approved the seller, account holders may not use PayPal to send or receive payments for any form of gambling activities, including but not limited to: payments for wagers, gambling debts and gambling winnings, whether conducted online, in person or through any other means of communication.
Now, PayPal Will Report, Too\n\n But if you use PayPal as a cashout option, it will consider each withdrawal as a form of income. Unlike the reporting that the sports betting organizers have to do, third-party vendors will not calculate or offset your losses.
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