New Posts For Thread: Using Monte Carlo to demonstrate the effect of the new Premium Chargehttps://community.betfair.com/general_betting/go/thread/view/94082/27945289/using-monte-carlo-to-demonstrate-the-effect-of-the-new-premium-charge(*For those who are not aware, Monte Carlo is just a fancy way of saying you simulate something lots of times and see what happens on average.)In this case I set up a random punter who has 20 bets per week on even money shots, at £2,000 each and 2%What about those who have already made much, much more than 250K and have only paid a pittance thus far to BF.? They should have a huge nest egg built up to play with forever, thanks to the introduction of the BF exchange concept.That's a good pointhttps://community.betfair.com/general_betting/go/thread/view/94082/27945289/using-monte-carlo-to-demonstrate-the-effect-of-the-new-premium-charge?post_id=501285077#501285077What about those who have already made much, much more than 250K and have only paid a pittance thus far to BF.? They should have a huge nest egg built up to play with forever, thanks to the introduction of the BF exchange concept.That's a good pointFri, 01 Jul 2011 05:23:16 -0500Yeah, that does sort of get lost in the fog.https://community.betfair.com/general_betting/go/thread/view/94082/27945289/using-monte-carlo-to-demonstrate-the-effect-of-the-new-premium-charge?post_id=501251353#501251353Yeah, that does sort of get lost in the fog.Thu, 30 Jun 2011 17:11:15 -0500Incidently froggy, it's because some users haven't been fairly covering their costs (according to betfair's criteria) that the charge has been imposedhttps://community.betfair.com/general_betting/go/thread/view/94082/27945289/using-monte-carlo-to-demonstrate-the-effect-of-the-new-premium-charge?post_id=501251269#501251269Incidently froggy, it's because some users haven't been fairly covering their costs (according to betfair's criteria) that the charge has been imposedThu, 30 Jun 2011 17:10:22 -0500" -- fairly covering the costs---"https://community.betfair.com/general_betting/go/thread/view/94082/27945289/using-monte-carlo-to-demonstrate-the-effect-of-the-new-premium-charge?post_id=501250293#501250293" -- fairly covering the costs---"Thu, 30 Jun 2011 16:59:16 -0500That's exactly what betfair have calculated for your starting rate.https://community.betfair.com/general_betting/go/thread/view/94082/27945289/using-monte-carlo-to-demonstrate-the-effect-of-the-new-premium-charge?post_id=501250237#501250237That's exactly what betfair have calculated for your starting rate.Thu, 30 Jun 2011 16:58:32 -0500What about those who have already made much, much more than 250K and have only paid a pittance thus far to BF.?They should have a huge nest egg built up to play with forever, thanks to the introduction of the BF exchange concept.Would they have beenhttps://community.betfair.com/general_betting/go/thread/view/94082/27945289/using-monte-carlo-to-demonstrate-the-effect-of-the-new-premium-charge?post_id=501250189#501250189What about those who have already made much, much more than 250K and have only paid a pittance thus far to BF.?They should have a huge nest egg built up to play with forever, thanks to the introduction of the BF exchange concept.Would they have beenThu, 30 Jun 2011 16:58:16 -0500Back to my question on "Implied Commission", this is a figure none of us (I expect) will have the data for. So how can we retrospectively figure out how much we would have paid in PC at 40% in previous years (for an idea of what we will get charged)https://community.betfair.com/general_betting/go/thread/view/94082/27945289/using-monte-carlo-to-demonstrate-the-effect-of-the-new-premium-charge?post_id=501249789#501249789Back to my question on "Implied Commission", this is a figure none of us (I expect) will have the data for. So how can we retrospectively figure out how much we would have paid in PC at 40% in previous years (for an idea of what we will get charged)Thu, 30 Jun 2011 16:54:14 -0500That's different to how they did it before, I stand corrected.I do think people that are over 40% will be surprised how quickly they reach 40% but if you've got 3% of lifetime winnings to play with then you certainly have some time.https://community.betfair.com/general_betting/go/thread/view/94082/27945289/using-monte-carlo-to-demonstrate-the-effect-of-the-new-premium-charge?post_id=501248957#501248957That's different to how they did it before, I stand corrected.I do think people that are over 40% will be surprised how quickly they reach 40% but if you've got 3% of lifetime winnings to play with then you certainly have some time.Thu, 30 Jun 2011 16:45:31 -0500I have been sat naked in a darkened room wielding a mirror on a stick but I can't even see the faintest glimmer.https://community.betfair.com/general_betting/go/thread/view/94082/27945289/using-monte-carlo-to-demonstrate-the-effect-of-the-new-premium-charge?post_id=501247825#501247825I have been sat naked in a darkened room wielding a mirror on a stick but I can't even see the faintest glimmer.Thu, 30 Jun 2011 16:34:10 -0500I see it now catfloppo. 40.4% for me. They must think the sun shines out your @rse.https://community.betfair.com/general_betting/go/thread/view/94082/27945289/using-monte-carlo-to-demonstrate-the-effect-of-the-new-premium-charge?post_id=501241073#501241073I see it now catfloppo. 40.4% for me. They must think the sun shines out your @rse.Thu, 30 Jun 2011 15:22:01 -0500