General Betting
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As you are a Betfair customer who has recently been affected by the Transaction Charge, we're writing to inform you of a change that we will shortly be making to the way the charge is calculated.
In order to bring the Transaction Charge in line with our other charging mechanisms, we will be changing the definition of Implied Commission. From 22nd February 2010 Implied Commission will be calculated using a flat 3% rate of market losses instead of your personal commission rate. Potential Transaction Charges will then be offset against the following amount:
(Commission + Implied Commission) ÷ 2
Where Implied Commission = market losses x 3%.
In order to bring the Transaction Charge in line with our other charging mechanisms, we will be changing the definition of Implied Commission. From 22nd February 2010 Implied Commission will be calculated using a flat 3% rate of market losses instead of your personal commission rate. Potential Transaction Charges will then be offset against the following amount:
(Commission + Implied Commission) ÷ 2
Where Implied Commission = market losses x 3%.
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I dont understand that :-)
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They work out the charge and then deduct the implied commission.
They used to work out the implied commission at my rate, which is 5%. They will now only allow me 3%, so the deduction has been reduced. For a big 2% player, this is a price cut, it's only a rise for those of us who pay more than 3%. |
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To he that hath,
It shall be given. From he that hath not, It shall be taken away. |
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In laymans Term if I was on 5% Commission , and paid say £10 Transaction Charge for a day , What would that £10 now be ?
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The transaction charge isn't a big issue, unlike the premium charge.
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It would depend on the amount of your market losses.
Transaction charge kicks in at 1000 bets/hour, so it's only an issue for bot operators, for whom it can be a very big issue indeed. It's one of BF's more self-harming innovations. |
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"Welcome to the layer cake"
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Son . . .
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