New Posts For Thread: Please note that your discount rate will be capped at 20% unless you have completed Betfair's Know Yhttps://community.betfair.com/general_betting/go/thread/view/94082/29060385/please-note-that-your-discount-rate-will-be-capped-at-20-unless-you-have-completed-betfairs-know-yI'm stopping betting on betfair sports for time being as I've only just discovered my discount rate was capped at 20% as i havent completed Betfair's Know Your Customer check requirements. I'm pretty annoyed with this and becoming more disillusionedBack to the original post.....do the KYC. Simple.https://community.betfair.com/general_betting/go/thread/view/94082/29060385/please-note-that-your-discount-rate-will-be-capped-at-20-unless-you-have-completed-betfairs-know-y?post_id=518792179#518792179Back to the original post.....do the KYC. Simple.Thu, 19 Apr 2012 10:01:01 -0500thanks vivahttps://community.betfair.com/general_betting/go/thread/view/94082/29060385/please-note-that-your-discount-rate-will-be-capped-at-20-unless-you-have-completed-betfairs-know-y?post_id=518791765#518791765thanks vivaThu, 19 Apr 2012 09:51:03 -0500It amazes me why people are amazed that people can't understand that 20% premium charge is not the same as 20% commission and does not mean 20% worse odds. What's even more amazing is that most of them seem to be ex-city boys who work for betfair. Whhttps://community.betfair.com/general_betting/go/thread/view/94082/29060385/please-note-that-your-discount-rate-will-be-capped-at-20-unless-you-have-completed-betfairs-know-y?post_id=518790449#518790449It amazes me why people are amazed that people can't understand that 20% premium charge is not the same as 20% commission and does not mean 20% worse odds. What's even more amazing is that most of them seem to be ex-city boys who work for betfair. WhThu, 19 Apr 2012 09:22:37 -0500It always amazes me why people can't understand that 20% premium charge is not the same as 20% commission and does not mean 20% worse odds.https://community.betfair.com/general_betting/go/thread/view/94082/29060385/please-note-that-your-discount-rate-will-be-capped-at-20-unless-you-have-completed-betfairs-know-y?post_id=518787111#518787111It always amazes me why people can't understand that 20% premium charge is not the same as 20% commission and does not mean 20% worse odds.Thu, 19 Apr 2012 08:11:12 -0500basic starting commission rate: 5%minimum commission rate without KYC: 4% (20% discount)minimum commission rate possible: 2% (60% discount)https://community.betfair.com/general_betting/go/thread/view/94082/29060385/please-note-that-your-discount-rate-will-be-capped-at-20-unless-you-have-completed-betfairs-know-y?post_id=518786837#518786837basic starting commission rate: 5%minimum commission rate without KYC: 4% (20% discount)minimum commission rate possible: 2% (60% discount)Thu, 19 Apr 2012 08:04:27 -0500i.e. 20% of 5% = 1% of total?https://community.betfair.com/general_betting/go/thread/view/94082/29060385/please-note-that-your-discount-rate-will-be-capped-at-20-unless-you-have-completed-betfairs-know-y?post_id=518786507#518786507i.e. 20% of 5% = 1% of total?Thu, 19 Apr 2012 07:56:05 -0500so it's capped at 20% discount of the standard 5%?this right?https://community.betfair.com/general_betting/go/thread/view/94082/29060385/please-note-that-your-discount-rate-will-be-capped-at-20-unless-you-have-completed-betfairs-know-y?post_id=518786485#518786485so it's capped at 20% discount of the standard 5%?this right?Thu, 19 Apr 2012 07:55:38 -0500Premium charge isn't commission and it works nothing like commission This is correct. Premium Charge is working more like an income tax, only worse as it's based on weekly income rather than yearly.https://community.betfair.com/general_betting/go/thread/view/94082/29060385/please-note-that-your-discount-rate-will-be-capped-at-20-unless-you-have-completed-betfairs-know-y?post_id=518778187#518778187Premium charge isn't commission and it works nothing like commission This is correct. Premium Charge is working more like an income tax, only worse as it's based on weekly income rather than yearly.Thu, 19 Apr 2012 01:14:28 -0500Premium charge isn't commission and it works nothing like commissionhttps://community.betfair.com/general_betting/go/thread/view/94082/29060385/please-note-that-your-discount-rate-will-be-capped-at-20-unless-you-have-completed-betfairs-know-y?post_id=518765793#518765793Premium charge isn't commission and it works nothing like commissionWed, 18 Apr 2012 16:21:00 -0500AT 5% commission you pay 10p commission. At 20% commission you pay 40p commission. With premium charge you'd pay 0p premium charge. If you backed 3 shots and 2 come in. then with 5% you pay 20p on £2 gross profit. At 20% you'd pay 80p on £2 gross phttps://community.betfair.com/general_betting/go/thread/view/94082/29060385/please-note-that-your-discount-rate-will-be-capped-at-20-unless-you-have-completed-betfairs-know-y?post_id=518765771#518765771AT 5% commission you pay 10p commission. At 20% commission you pay 40p commission. With premium charge you'd pay 0p premium charge. If you backed 3 shots and 2 come in. then with 5% you pay 20p on £2 gross profit. At 20% you'd pay 80p on £2 gross pWed, 18 Apr 2012 16:20:42 -0500