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Life was simpler when I was a young lad,
Go to the races Have your bank on the first fave It gets rolled You go home |
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JONKER
20% is not low. I meant traders prob have a low base %, then pay PC just make it 5% for all KING MUG exchanges by their very nature are designed for traders |
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Not really King, Betfair was attractive to many people because of the ability to trade, they might not know which horses are winning they can still make a profit because they can work out which horses are going to firm or ease. Betfair actually attracted a lot of people because of this ability, without the ability to do this on racing they will turn to sport and their turnover will be lost to racing forever.
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Different people have different goals Mug.
Tell me bookmaker goals Mug. Very rare to have a bookmaker with an opinion other than what they think the punter will stoop to to put their money down, after watching everybody else. Gambling in general can either be about joy of watching the event, or trying to make money. How is tattslotto? Do you think people care to watch 6 numbers blowing round a glass ball? Most simply want to put their money down, and get more back in their pocket. Barney, traders would have a much higher base rate than punters because they offset their losses in the same market and earn nowhere near the points that punters do. |
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Most traders would be paying the PC thoguh
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That's pretty much me Joel, I've been doing this since 2006 didn't know the first thing about horse racing when I started and still don't know the first thing about horse racing. Once trading is done I'm never touching BF again.
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fair call Jonker. I'm a little different - I think I know horse racing, but I can't win on it without the ability to trade.
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This cannot work imo. They have to ask theselves are we a betting exchange or not.
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I think the real question they need to ask, well 2 of them. 1. Are we NSWRs' bitch? 2. Do we wish to be still a company at the end of the year?
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I have always bet on horses, but before Betfair it was 50 cents each way. These days I bet a lot more, mainly on the tote for exotic bets, so they will miss out as will RNSW if I can't use betfair anymore.
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I'm curious to know whether all the big traders are being told no more trading or just the ones not paying premium charge? Or is it only the ones who pay premium charge being told not to trade?
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I pay premium charge and was told not to trade.
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I don't pay premium just yet tip but have been told.
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1-1
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i pay but no longer can play.
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simple fix for mine - charge a percentage of every bet as soon as it goes on -e.g 1% does,'t matter if it's a win or lay bet, take 1% of it - no commission, no pc just 1% f every single bet matched
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will be interesting to see how much these markets are affected..
iam thinking not as much as everybody thinks time will tell They had there chance they should have black banned the carnival and pissed off NSW for good Like barney said so are they going to refund all the extra charges and markets that are not Turnover based?? Maybe Giles whatever his name is should hand his papers in |
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Think you and BJT are onto something womble. I reckon that will be the next 'charge' if all States want to screw over BF and not negotiate somehow.
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heres a real simple fixed womble
DONT Bet on NSW but if you do make every account accept new terms and conditions that they pay extra 1% turn over tax .. paid just like the PC if you lay a bet of $1000 you pay $10 extra above the normal commission charges... they will be TRUE charges that betfair are actually passing on... |
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has to be better way somewhere
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strange thing is how they are rolling it out - are you guys that they called their biggest traders???
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I've only been trading weekends for the past 6 month or so, so in my case no.
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Very strange arrangement, because there are no official announcements you can conduct transaction(s) on Betfair under the current rules as they apply then be told that the transactions are not acceptable in the futue.
Hope the UK and European account holders have an up to date map of NSW. |
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Which is rolling over telling everybody everywhere, if you increase your charges, we will cop it on the chin, pass it on to our dwindling customer base, and fold like a cheap suit.
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Biggest traders would be the least of their concerns. The smaller traders, making mistakes, trading multiple times to get into profit are the ones costing the most because they have the smallest ROI but still a high turnover.
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bjt that can't be the theory they're operating on. I hardly trade at all, yet i got a call. so they're not targeting high turnover trading.
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Wasn't trying to imply that was their target, just pointing out that better traders have bigger profit margins with less trading. Smaller traders may end up in profit long term, but have a lower strike rate, turning over a higher percentage of bets for little result, costing BF but hardly effecting their revenue or said traders profits.
As I said earlier, can back two 2.50 favs and cost BF money, which I think will start to cause more phone calls going out without even trading. |
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Hang on one darn tootin' minute!
They were pushing me to trade, they wanted me to trade, they asked me to attend seminars on trading and I told them I'm not a trader, but they rang back and asked me again. Now I can't trade, what a complete and utter ballsup! |
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If you have problems with BF contact the Tasmanian Racing & Gaming Commission. They are pretty helpful and will investigate any legitimate questions about BF. Pretty sure they will be interested in this one.
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As if we needed more proof that you've lost the plot!
The TGC are one of the most ineffective and dubious regulatory outfits around. And given the class they belong to that's saying something. |
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jfc, one day you might make a positive post on here, maybe.
So how many times you have contacted them with a query and they have been "ineffective and dubious"? |
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I don't need to use Betfair that much that I need to contact a regulator.
Just pointing out the lack of foresight and ambiquous nature of everything they say and do. |
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100% of the time of my dealings with them.
I could sue them and win, (and lose after paying off the shysters) but then Betfair could pull my account. It beggars belief that outfit could leave any customer satisfied. |
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Mickey,
what do the Tasmanian Racing & Gaming Commission have to do with corp bookies? |
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Yeah interesting point OverRound. Wonder how much money the BF backed Badger and Woodpecker made from BF advertised seminars on how to trade the exchange.
Truth be told, most of those that attended are likely broke by now, but the principle is still there. |
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Yous are acting like the worlds coming to an end. What the fucckks wrong with you lot. Be like me keep backing winners and lay short priced favs. and the little percentage things are insignificant.
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I agree to an extent Mike (if that's the way you bet), but the argument is the traders supply those odds... anyway maybe we'll find out in the next few weeks if that's true or not. May depend on who has and hasn't received the phone call.
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Betfair have handled this whole thing poorly. Their share's should immediately be shorted. They would of been better off laying Black Caviar than lodging their appeal(7 nil). lawyers are happy I guess.
Their executives should be issued with pink and blue tutu's and put on a float at the mardi gras (promotional purposes). |
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When have betfair ever handled anything well?
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Is there IR on NSW markets? If so this should end. Betting at 1.01 is a disaster for betfair.
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