General Betting
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Can someone explain why this varies from market to market, even if it is the same sport. On horseracing today I noticed a different commission rate on nearly every single return? I've never really noticed this until today-I always thought the rates were static dependent on how much turn over you put through...or was that the olden days?
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Because the amounts are rounded off to the nearest penny. For instance, exactly 5% on 98p would be 4.9p. They round it to 5p. This 5p then shows up as 5.1% commission.
The maximum anyone can be charged is 10%. This is someone on 5% commission who wins 10p, as they will be charged 0.5p rounded off = 1p = 10%
Because the amounts involved are minuscule, it's not really relevant. It also works both ways. For instance, if you win 9p or less, you will pay 0% commission, so it all evens out.
Because the amounts involved are minuscule, it's not really relevant. It also works both ways. For instance, if you win 9p or less, you will pay 0% commission, so it all evens out.
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