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Is anyone winning $250k (lifetime) and paying higher premium charges?
Is anyone winning $250k (lifetime) and paying higher premium charges?
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Replies: 101
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God damn bots you can't win. Why haven't all the PC victims moved to that purple place then? Is it available to Aussies?
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It used to be but they were sent a letter saying pay or be fined 70k a day and they stopped Aus content.
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It is available but they dont have Australian racing anymore unfortunately, they had it for a while but the authorities here had it shut down, I dont think the liquidity there was that great anyway
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Joel • May 4, 2012 6:38 AM BST
I tried to arb for a while, but ended up winning on here and losing on the other end...ended up getting banned from the other place, and paying 60% on here...so it's not such a great strategy Of course the next week I lost here but won on the other place but they don't refund you... Joel • May 4, 2012 7:11 AM BST Whilst I am normally facetious...I wasn't in this case gatespeed, I tried this strategy but unfortunately it didn't work well for me...one or two weeks I lost on here and won with the TAB/Corps but most weeks I ended up winning on here and losing at the others. I eventually got banned by one of the corps and just gave up as it was costing me too much... So you are suggesting that you are one of the people with 250k + profit and have generated less than 12500 in commission? I was under the impression you were a punter, but obviously you are a trader? If you are that good at punting that you are generating less than 5% commission (ie basically never have a losing bet) then you will easily make money on the totes Now for those in here worrying about teetering on the edge of 20% generated commission, the PC merely takes you up to 20% commission generated. So if you have a week that you win every bet, then yes you will pay close to 20% of your profits, but if you have a week generating 18% commission, then you only top up another 2% to take it to 20%. For the record, it takes a strike rate of better than 95% winners at even money for a punter to be on 60% PC. 20% needs a strike rate better than 63% winners at even money. Seems a lot of confusion in here about the PC. But congratulations Joel on having such a ridiculously high strike rate. You must be very well off. |
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BJT, i have paid twice since exceeding the threshold & have paid 20% & 31%.
63% winners at even money is hard to achieve for any punter. Especially when it is only over a week. You can have one good week & pay high charge. My factual last two weeks (in pounds as i cant be bothered converting) Week 1 net profit 1,742 premium charge 545 Week 2 net loss -1,082 Profit for the fortnight was 660 but i had to PC of 545 so i'm left with 115 pounds profit from about 60 hours work |
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i will have to pay more notice of Joels tips if the above is the case.
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I will get all my boat people SLAVES to open accounts and we will BEAT the PC. Sign up here if you want a boat people SLAVE account.
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How's it goin' Whiskers? Haven't seen you about much lately.
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Going along just nicely thankyou.
 --Who were you in a past life |
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A Miracle Mile winner at age 12.
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Popular Alm or Hondo Grattan
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u really have to ask whiskers.........i'd take oods on
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Nearly impossible to get to 60% PC but not diificult to hit the 30/40% mark for some
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Last fortnight i paid 545 from 660. that is 82%. fact!
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Kye
The only positive about paying PC, is that the recent commission increase becomes irrelevant. |
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In response to BJT, I don't believe Joel ever said he wasn't a trader. In fact, I think he said he was.
I concur with your summary, sarcastic though it may be. In order to pay PC as a punter you need an extraordinarily high strike rate consistently, such that, if you were that good you really wouldn't have anything to worry about money wise. Personally, I haven't dipped below the 20% line since 2010 and at 21.6% it would take a big run of winners to push me under. I make good profits year on year, so it's possible to win and never pay a single penny of pc. |
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There are some ways that you can use Betfair, be successful & there is NO way to avoid PC
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You are completely wrong there, PC. You are either suggesting I am NOT successful or that I'm paying PC and lying about it. Neither of those assertions would be correct.
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I am mainly a trader but I also gamble too, I post some selections on here but don't always bet on here, sometimes I will bet elsewhere
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what sort of trader joel?
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Horse Racing
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i sold my danzero filly to a trader in 2001 should have kept her
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I bet here there and everywhere, Joel. Betfair isn't always the best value and there are so many sharks on here trying to fleece the numpties.
There one guy that always posts odds in the Half Time margin market (and other places), laying say 1.84 and buying 18.5 hoping someone will mistake the decimal point and just lay the bet. I don't know who does that but he's farking scum, pure and simple. If I happen along I always put a more realistic block in the way. Beyond that I prefer to leave the trading to those with considerably more patience than me. I should add, I do quite a bit of arb, which is a form of trading, but mostly it's just to keep my mish discount up when I don't have many bets. Doesn't take long for the rate to erode when you take time away. |
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i noticed that sort of thing too crazysnake often for example one side is 3.3 and on the other is 34 etc
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I have just contracted someone to create a bot to manage that situation and prevent it in the absence of the Bettie bot. Will cost me a grand to do it, but will stop someone else losing a grand by making an fat-fingered mistake. Let's see how long it takes this guy. Probably won't be ready til it no longer matters, but he came at mate's rates.
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ive seen that as well crazy, there was somebody a while ago always trying to back horses that were in the market at 17.5 and they were wanting $30 on them it only happened on in play betting only.i got his cash a few times
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happens in alot of markets snake.
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catrap I reckon that's (the inplay bet) a lot different to what crazysnake was posting about. That's just a bet asking for big odds as there is a high risk of the horse being a cerainly beaten runner if the market hits that level on a favoured horse. It's not a "trap" bet just the same as backing a roughie prejump IMHO.
From you being able to take the bet I'd assume the bet stayed in the market well into the race's run time. |
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Yeah, keep seeing trap bets in non in play markets. I need to put a stop to it. I have never seen him match a bet but I am sure he has. Why else would he persist?
Speaking of betting, got the dreaded Sportsbet "sorry, sir, but your bets are now limited to $500 pay out on football". Was inevitable, I guess. Time to get creative . They think they can stop me. I have held an account with Sportsbet since 1998. Never had any trouble til these stinking Irish ****s showed up. $500 bucks on football is a joke. Might as well be $10 for all that's worth. |
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Just received the same sort of message from the same mob Crazy. ****s indeed. NT gaming comish need to pull their fingers out and regulate a little better to bring them into line with on course bookies.
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sportsbet and Ias (same thing) are now a shadow of their past.My concerns are that the playing field is shrinking so quickly that all those with ability will end up devouring what is left ,until only the scrote survive.
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Crazy..wasn't referring to the way you play on here
But the way i operate there is no way to avoid paying PC. It is impossible to avoid. I'm not saying exactly what i do but if you think of what Betfair offers & nobody else does you'll work it out. & i'm not a trader |
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PCisaripoff,
I'm on 40% but have not been slugged since December 4. Simply by using my own Churning Robots. The principle applies even for mere humans. Find some markets where you ain't that flash, so that you merely break even after commission. Then churn them obsessively. That rake offsets the Charges. |
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PC,
Are you Melbourne based? If you are, maybe we could get together and compare notes. I am sure there is lots we can learn from eachother...that offer applies to any other professionals based in Melbourne. Syndicate might be the way forward. |
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I'm from up North Crazy, but am in Melb for Origin 1 in 2 weeks & sticking around for the weekend. Will send my number to you.
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And all this time I was thinking PC was another incarnate of woodyandbuzz...
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so this premium charge for example 40% if you lay a horse to get a $100 out of it u have to pay $40 comission. is this what you's are on about ? if thats the case thats a load of bullsh!t
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Cat,
PC is 20% contribution based upon all time winnings. If you are under that mark you pay the difference in PC up to 20%. There is a secondary charge for those that have made more than 250,000 pounds profit over the lifetime of their accounts which is an additional amount that varies depending upon your measure of profitability and whether or not you punt or trade (as I understand it anyway). If you are subject to PC it isn't worth betting on Betfair for much of the time. The extra charge kills any premium price you might receive here. Instead of aiming at the bot owners that killed the site to begin with they targeted the bigger profitable punters and drove many of them away. |