We want to share an important update with our Betfair Community users.
Over the coming months, the Betfair Community platform will be winding down. The final active day for the platform will be December 21st. From December 22nd, users will no longer be able to access the platform.
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20% better odds, but 20% commission
their advantage is gone |
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"Can anyone tell me why the traders don't just run their bots on betquack as well as betfair and why 'liquidity' isn't the samer on both sites? Are their bots not capable of multitasking?"
Before bots Betfair had no liquidity also. |
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Feck, I don't know the exact details of the charge, but the extra that Betfair want me to pay would indicate a 20% tax on overall winnings. If it included implied commission, I don't see where they get their figures from. Maybe I'll be less worse off than I thought.
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If I understand this correctly, wouldn't this only affect those who are winning regularly and are on a very low commission rate?
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"The traders cannot function without them"
Rubbish, market makers put up a price you take it. MM's account for the majority of volume so it's actually punters that are under threat. |
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Having discussed this with my account manager I feel that anyone who doesn't pay 20% of their gross winnings in commission already is playing with marked cards and needs shafting anyway.
I dont have a problem with this new rule, myself. |
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I would disagree in the strongest terms that I need shafting.
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Sounds like its a tax on winners and therefore using the site will definately be ruled tax free!!
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Before bots Betfair had no liquidity also.
Irrelevant. My point is, if these trading bots supply all the liquidity why aren't they running on both sites such that both have the same liquidity. The answer is there's not enough gamblers on betquack for traders to feed off. The traders require the gamblers not the other way around. |
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I can see this been only a one topic convo :)
Betfair Customer Services 08 Sep 09:49 Well be hosting a Q&A session on the forum Wednesday evening (10th September) between 6pm and 7pm (UK Time). Wed welcome questions on any topic of interest to Betfair customers. To help us get through as many questions as possible you can send them in advance to livechat@betfair.com. Unfortunately it is not possible for us to respond to each email individually but we will attempt to answer all questions raised via the live Q&A session. |
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Sorry Feck you are wrong, Betfair has benefitted from first mover advantage so it's a chicken and egg syndrome, it requires a break point to change that and this could be the break point. It Betfair have misjudged this you will suffer as market makers shift business to more favourable regimes. That is absolutely certain, this is a massive gift to Betquack.
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quite a coincidence this happening today........ wednesdays question night coming up
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Please be VERY clear, implied commission has nothing to do with this.
Win £10k in a week, from winning £20k and losing £10k, then at 3.5% your commission paid will be £700. You'll also have paid £350 in implied commission. But that makes no difference, Betfair will still rape you for £300 at the end of the week |
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I totally agree with loper, I make good money on here and pay nearly 30% of my winnings in commission!! I don't think this rule will affect that many people.
If you think about it, this would be the perfect rule to hunt down "insiders" who "somehow" never have a losing bet... something to think about... |
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Good move Betfair make the sharks pay more .
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I'm not a market maker - perhaps a real Market Maker would tell us how he is affected. Without them we're dead.
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sumone do us a favour put up the email u bin sent
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Sly - Don't go assuming everyone is making their money on horses
Lots of people can read a sports market well enough to 90% of the time work their way into a winning position. We coulnd't give 2 ***** about horses, but still win |
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If you "qualify" then have 1 bet in a week and if it wins you pay 20% commission on it.
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i agree with feck that it is outright gamblers who provide genuine liquidity, but traders, scalpers and market makers do provide a pseudo brokerage service to the larger players facilitating the matching of larger bets, through spreading them across the market over time and price. Marginalising these people may have an indirect knock on effect on liquidity.
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I'm affected Betfair by losing probably 15% of my profit
I'll probably trade this week, but then I'm going to have 2 weeks looking closely at Betquack and see if they might be more useful in future If everyone else who operates in the same way as me does the same, people will struggle to get a £200 bet matched on the tennis |
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*Betfairy
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Troy - I suppose you're right, I was only thinking in terms of horses as that's the main thing I bet on
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DOES YOUR 20% GO TO FREE BETS FOR PEOPLE WHO ALWAYS LOSE ON THE SITE, WHERE BETFAIR NEED TO KEEP CUSTOMERS?
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no, it pays for the bubbly at the shareholder's meeting
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hope bet angel r looking into providing software for the purple site
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I'm with you Troy. It's definitely time to think purple.
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The guys who take the short prices IR would be finished wouldn't they ? You can't afford many losers at that game.
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Troy McClure 08 Sep 12:20
Please be VERY clear, implied commission has nothing to do with this. Win £10k in a week, from winning £20k and losing £10k, then at 3.5% your commission paid will be £700. You'll also have paid £350 in implied commission. But that makes no difference, Betfair will still rape you for £300 at the end of the week Am I reading this wrong or would that be more like £1,300 at the end of the week? |
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Troy at the start of the thread you said 2 hours , BF are announcing this at 1-0 pm then ?
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yes frames
Teddy - Yes, good point, I was thinking 10%. Even worse then |
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I cannot believe the greed of the company if this is true.
The old Greek adage of " those whom the Gods wish to destroy,first they make mad ", comes to mind. |
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Can anybody seriously increase prices 5 fold and expect customers to stay. Especially when the service will remain unchanged!!!!
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SPAM SPAM SPAM SPAM SPAM SPAM B-) B-)
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alot of people were bordering on leaving anyway imo because of the numerous problems with the site over the last year, this will push them over the edge imo
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The winning horse/football players may be able to switch to the purple place , don`t think the rest can.
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troy please tell me that this is your greatest ever fishing expedition.
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Theres no fishing going on here
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This would be an uber fishing expedition wouldn't it? Sadly not
frames - I think you're right, football and horse players can move more easily than other sports. But its worth a try, if a load of us all go at once. I'm sure they losers will soon complain if they can't get anything over £100 on in a tennis match |
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It will make no difference to you Koo ?
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