General Betting
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SEPTEMBER 2001
Joe Punter: Twenty tenners please.
Betfair Bob: You would be better off putting that on Betfair rather than this betting shop, It could be as much as 40 on there, less 5% comm, gives you over 37/1.
Joe Punter: Really? I will have a look at that.
SEPTEMBER 2008
Joe Punter: Twenty tenners please.
Betfair Bob: You would be better off putting that on Betfair, it could be as much as 40 on there, less your commission, which is your net winnings multiplied by the Market Base Rate, after your Discount Rate is converted from your Betfair Points Total, and applied to the Market Base Rate, unless of course, you have taken a Betfair Holiday, when your Betfair Points will not be credited, so your Discount Rate will remain the same, but you won't be subject to a 15% decay in your Points Total at the end of the week.
However, if you win you may qualify for the Premium Charge of up to 22.5% which is dependant on your forthcoming weekly profit in relation to the commission payable for that week or on a rolling 60 week average, which is when your commission and implied commission is calculated and divided by two, which is ok because it can be offset against the £1000 Premium Charge allowance, and at the end of the week you find out what price you got.
Joe Punter: Twenty tenners please.
Joe Punter: Twenty tenners please.
Betfair Bob: You would be better off putting that on Betfair rather than this betting shop, It could be as much as 40 on there, less 5% comm, gives you over 37/1.
Joe Punter: Really? I will have a look at that.
SEPTEMBER 2008
Joe Punter: Twenty tenners please.
Betfair Bob: You would be better off putting that on Betfair, it could be as much as 40 on there, less your commission, which is your net winnings multiplied by the Market Base Rate, after your Discount Rate is converted from your Betfair Points Total, and applied to the Market Base Rate, unless of course, you have taken a Betfair Holiday, when your Betfair Points will not be credited, so your Discount Rate will remain the same, but you won't be subject to a 15% decay in your Points Total at the end of the week.
However, if you win you may qualify for the Premium Charge of up to 22.5% which is dependant on your forthcoming weekly profit in relation to the commission payable for that week or on a rolling 60 week average, which is when your commission and implied commission is calculated and divided by two, which is ok because it can be offset against the £1000 Premium Charge allowance, and at the end of the week you find out what price you got.
Joe Punter: Twenty tenners please.
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Just waiting for my arcade bonus to arrive in my inbox.
Even the reward system for imbeciles who go on the Arcade is complicated.
K I S S Betfair!
K I S S Betfair!
Wiz - I expect they dont know what KISS stands for.
Only 68 days to go.
Only 68 days to go.
The Betfair Arcade is being upgraded tomorrow morning......................you can all have an extra hour in bed.
Guys...............
As a personal friend of Armida (nice car dude), I think I am qualified to say...............
Let it go
The post is one of it's kind, a definitive answer to Betfair Bob and an excellent response to the idiocy that is the 20% charge.
Suffice to say that if you want traders to take their business elsewhere, you have made your point.
If you want to confuse (potentially) new users, you have made your point.
Armida has made his point
Let it rest now.
As a personal friend of Armida (nice car dude), I think I am qualified to say...............
Let it go
The post is one of it's kind, a definitive answer to Betfair Bob and an excellent response to the idiocy that is the 20% charge.
Suffice to say that if you want traders to take their business elsewhere, you have made your point.
If you want to confuse (potentially) new users, you have made your point.
Armida has made his point
Let it rest now.
Agree with everything you say anothermorn... except the last line.
I accept that people have to move on, literally, but this thread deserves its prominence if only to highlight the depth of affection people had for Betfair.
Why on earth shouldn't that be remembered? The powers that be may one day appreciate it.
I accept that people have to move on, literally, but this thread deserves its prominence if only to highlight the depth of affection people had for Betfair.
Why on earth shouldn't that be remembered? The powers that be may one day appreciate it.
Betfair made their bed, let them lie in it. The post is a very good summary of the issue Betfair faces and any visitor to the forum you get the chance to view it. It's no traders who are affected it's everybody. Remarkable that people can't see this.
Nadal and Buddha
I am a friend of Armida. I recognise both of your points as does the rest of the forum. I would hope that from the tone of my post you could see that I have great sympathy for everyone affected by the new charge - trader, bot operator or otherwise.
This post was a belter, but it's time to move on, and give Betfair grief over the specific ways it is now affecting us
Regards to all.
I am a friend of Armida. I recognise both of your points as does the rest of the forum. I would hope that from the tone of my post you could see that I have great sympathy for everyone affected by the new charge - trader, bot operator or otherwise.
This post was a belter, but it's time to move on, and give Betfair grief over the specific ways it is now affecting us
Regards to all.
From the brilliant OP:
However, if you win you may qualify for the Premium Charge of up to 22.5%
Hang on - why is it 22.5%?
However, if you win you may qualify for the Premium Charge of up to 22.5%
Hang on - why is it 22.5%?
Because you don't even get full credit fot the comm you have already paid. If you have no losses in a week (eg 1 winning bet) then they say you've only paid half of the comm you have actually paid due to no implied comm.
Point taken Vim but of course in your example a punter wouldn't pass the 250 market threshold and would therefore be exempt. Anyone betting in markets frequently enough to be considerable for the PC is simply not going to have this problem unless of course they're sitting on Greys Sports Almanac.
I hardly have any losing markets and stay on under 3% total charges. You just need be cautious and green up. Exactly the people who are being hit worst.
Excellent, OP.
I used to tell people in the pub that they were mad betting with a bookie rather than here, but now this place is a joke. Imagine some old boy, lucky enough to be winning, having money taking from his account on a Wednesday lunctime without him even having a bet. How would you explain that to him? "It's your implied commission divided by the longtitude of Papua New Guinea, mate."
I used to tell people in the pub that they were mad betting with a bookie rather than here, but now this place is a joke. Imagine some old boy, lucky enough to be winning, having money taking from his account on a Wednesday lunctime without him even having a bet. How would you explain that to him? "It's your implied commission divided by the longtitude of Papua New Guinea, mate."
The way they've handled this defies belief - must be a deliberate attempt to p*ss the winners off - or are they just plain dumb?
This thread deserves to be TTT'd every day or two
its a tiny puny protest, but its something
its a tiny puny protest, but its something
Thanks for clearing it up armida........I didn't know what it was all about till now.
:^0
:^0
I'm sorry but there's no way we're letting this thread go. There's always room for a bit of comedy on and in this case this is it.
this will be one of the first to go under 'new owners' forum i expect..
That's quality, OP. I left here three or four weeks ago and haven't regretted the decision at all. A really radical benefit is that I know what odds I'm betting at.
It's Thursday and the first chuckle of the week...thank you.
is it jus me that gets it, i do have a gcse in maths guess it helps
I thought it appropiate to bring it up front before we get the news of getting robbed again tomorrow...
nice one Lori , must admit i've saved the opening post in word as a hidden treasure
Bringin' back the classics:
The one and only original Premium Charge Thread:
http://site.forum.betfair.com/jive3/betex/ThreadsFrameset.jsp?forumID=32&threadID=1660993
The one and only original Premium Charge Thread:
http://site.forum.betfair.com/jive3/betex/ThreadsFrameset.jsp?forumID=32&threadID=1660993
Investor:
You're correct - that is the original and the best.
If you read my posts on there you'll see why my commission points are so high. I've done what I said I would. ie. I've entered markets with marginal strategies to reduce my premium charge. The thing I find amusing is the people who thought the premium charge was a great innovation to punish the over-successful are actually now paying it themselves via the more efficient markets that all the the new premium charge avoiding strategies have created.
You're correct - that is the original and the best.
If you read my posts on there you'll see why my commission points are so high. I've done what I said I would. ie. I've entered markets with marginal strategies to reduce my premium charge. The thing I find amusing is the people who thought the premium charge was a great innovation to punish the over-successful are actually now paying it themselves via the more efficient markets that all the the new premium charge avoiding strategies have created.
That was uncanny frames i upped this thread then one minute later you posted your thread
It certainly was.I put what a shambles into the search and it came up as no matches for me.
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