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Apologies for labouring on with this subject, but one last go at proving why its wrong
In 2004 a man wins 100k on all bf activity after paying his commission - he then goes on a 5 year 'sabatical' returning in 2009, and his first 3 weeks result is:
week1 - loses 10k, week2 loses 20k and week3 wins 30k
he thinks, well I've got my money back, but he gets a PC charge of 6k that he later finds, is due to his activity in 2004
Now, if he had created a new account in 2009, how much would he have saved?
Yes, I'm saying to all you long term winners, open a 'new' account
In 2004 a man wins 100k on all bf activity after paying his commission - he then goes on a 5 year 'sabatical' returning in 2009, and his first 3 weeks result is:
week1 - loses 10k, week2 loses 20k and week3 wins 30k
he thinks, well I've got my money back, but he gets a PC charge of 6k that he later finds, is due to his activity in 2004
Now, if he had created a new account in 2009, how much would he have saved?
Yes, I'm saying to all you long term winners, open a 'new' account
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Not correct. Betfair would have topped him up to 20 % commission generated so in this case he wouldn't pay any PC.
No , assuming he had generated commission at less than 20 % from his early years on here , Betfair would have put him on 20 % a few weeks back no matter what amounts we are talking about.
If that is the case , he would be close to 30% commission generated and he would have a nice buffer before ha had to start paying PC.
nope, it worked out at 18% comm generated under this new calc - - so instead of paying approx 1.5 k in commision - he now pays the 20% PC, ie 6k - admittedly less the 1k allowance
Do the other exchanges have such a charge, and if not, why are people not leaving here in their droves? No use arguing liquidity as that will never increase until more traders make it happen.
week1 - loses 10k, week2 loses 20k and week3 wins 30k
if you change that to win 30k then lose 20k then lose 10k he would have paid PC right away as his 1k allowance would have been used up in the top up to 20%
if you change that to win 30k then lose 20k then lose 10k he would have paid PC right away as his 1k allowance would have been used up in the top up to 20%
birch2 , it's not possible to have paid 36 % in commission and be less than 30 % in generated commission.
didnt the PC and 'generated' commission start in 2008 ?
based on the lifetime calc change in 2009, the lifetime GP in years previous, now becomes a millstone dragging 'long term' winners into the PC (ie those previously in the 21-30% range)
Despite my hypothetical example, when I asked for my 60 week commission generated position in 2008, it stood at over 31% - my wins/loss/GP/ volume has not significantly changed, but with the new calc, on Oct 12, I am now at just over 19% - THIS IS FACT
based on the lifetime calc change in 2009, the lifetime GP in years previous, now becomes a millstone dragging 'long term' winners into the PC (ie those previously in the 21-30% range)
Despite my hypothetical example, when I asked for my 60 week commission generated position in 2008, it stood at over 31% - my wins/loss/GP/ volume has not significantly changed, but with the new calc, on Oct 12, I am now at just over 19% - THIS IS FACT
Birch
PC is now calculated on the life time of your account.
The commission generated must have been much lower for the years 2002-2007.
If you continue to pay about 31% your lifetime amount will increase above 20%.
PC is now calculated on the life time of your account.
The commission generated must have been much lower for the years 2002-2007.
If you continue to pay about 31% your lifetime amount will increase above 20%.
JML
You miss the point - In Sept 2008. it stood at 31%, based on the '60week' calc, it now stands at 19% based on the lifetime calc
My post is to do with the anomoly of the new calc in relation to long term winners, who would not be affected if the calc remained at 60weeks
I know ive actually paid closer to 40% in real cash
You miss the point - In Sept 2008. it stood at 31%, based on the '60week' calc, it now stands at 19% based on the lifetime calc
My post is to do with the anomoly of the new calc in relation to long term winners, who would not be affected if the calc remained at 60weeks
I know ive actually paid closer to 40% in real cash
If you believe the figures are incorrect you can ask for details of your life time activity.
This will include details of every bet,market P/L, and commission paid.
You'll need to do this for every account you have.
This will include details of every bet,market P/L, and commission paid.
You'll need to do this for every account you have.
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