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.
Your discussions, insights, engagement, and, most importantly, feedback have helped shape the platform and guided innovation. Your feedback continues to be important to us, and we will continue to listen via our dedicated feedback channels, as well as through product testing and innovations.
To share your feedback and experience, visit: https://support.betfair.com/app/home
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All depends how the new structure works.
I dont know as theres lot of things being said roight now on how it will work off all the people who had the call this am I aint got one yet so dont know for sure |
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Hi guys,
I don't normally post on here, more of a football forum man, but if this is so, err, crikey. I enter about 100-150 markets a week, mostly football, and make a small (£1-£20) profit on 99% of them. Small stakes, only a few grand a year profits, but it makes me happy. Is this going to hurt someone like me? My head's hurting from it all. Ta. |
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Will there be no end to the inuendo, scaremongering, stupid statements by Feck et al and the doomsday massacres?
1.01 they'll stay just to keep the drama going. |
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Andy, if you make profit on 99% of them, you can assume you'll be paying about 15% of your winnings to Betfair from 2 weeks time
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what about me troy ?
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Cheers Troy.
Boo hiss to Betfair. |
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So is it basically aimed at the high winning % traders and rewards the people who are having a bet and taking a stance ?
or am I on the wrong track Troy? |
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Troy , so it is going to be 20% every 7 day period ? If you win a 100k in a year you will pay 20K or could it be more when losing weeks are considered ? I am fairly lost at the moment.
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and rewards the people who are having a bet and taking a stance
not sure about the use of the word "reward". "Doesn't punish" would be more accurate |
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i lay big prices, and i dont trade. but my strike rate is high.
high risk if i lose + 20% commission is proper gay! |
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lol DS
yes, so you either get left as you are if you are a punter or punished a bit more if you are a trader who does well ? |
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I bet about 35 markets a week. Sometimes win high percentage on turnover. Sometimes lose a high percentage on turnover. If I have a winning week with I have to pay BF 20% of my winnings? Will I get this back if I have a bad week?
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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.
If he has 30 1K bets @ 2.0 and 20 win, he's won 20K on 20 marekets, lost 10K on the other 10 and made 10K orofit. He's paid £700 commission (3.5%) but his implied commission is £1050. |
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Does this benefit the high volume low margin punter over the high margin low volume one?
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surely everyone who joins betfair wants to win even if they cant, will the thought of having to give away potential profit not stop people playing?
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frog I think if you close your account and open a new one you will get it back, but not if you don't. At least until your profit commission exceeds 20% over the cumulative period that is used to calculate. So unless you win every week the new charge is effectivley retrospective.
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where is this announcement please?....
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Feck , he has paid £700 on the 20k winning bets but still has to pay BF another 1300 to make it up to the 20% , is this correct ?
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Will there be no end to the inuendo, scaremongering, stupid statements by Feck et al and the doomsday massacres?
FFS clown, I'm probably about the only one not scaremongering on this thread. |
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what for example the guy who places 1 bet all week but wins £200 ?
20% tax ? |
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I understand that if you win and pay the "tax" one week, and then lose the next week, that losing week will be taken into account on future winning weeks
So week 1, make £10k profit, pay £700 commission, tax = £1300 Week 2, lose £10k, no tax Week 3, win £20k, pay £1000 in commission. Tax would normally be £3000, but they take into account the £10k losing week, and only charge £1k tax |
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i'm not sure about the extent to which this will affect me. it certainly will for some weeks, but not for others. The timescale does seem to be awfully short.
i will wait for the announcement, but there do appear to be some practical concerns. The first one is about a guaranteed but unknown future debit being applied to your account. |
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just one question - Will the small time Charlie Clown who regularly does his b0llox be ok ?
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all irrelevant anyway if the french destroy us with their doomsday machine on wednesday
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where is this announcement please?....
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is this tax going to betfair or gordon brown
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it all sounds a little complicated to keep track of to me this will surely dent bf if it goes ahead
i cant imagine people staying around if they are going to have to pay more out no matter how much better their interface is. Lets face it the liquidity is why bf is ahead of other competitors |
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it goes directly to Frannie & Freddie ;)
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The way I understand this, it will affect those who have a high winning percentage per market (wether punting or trading).
Those who are in profit overall and have many small losses and an occasional big winner shouldn't be affected. Am I correct? |
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This sounds way too complicated to me. Why dont they just close down traders and insiders instead of they are not happy with them making a profit.
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this thread is complete Bullsh1t IMO. Fantasy.
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LOL you are a simpleton Feck, proven.
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trader - Announcement coming later today, they told me 1pm. You have my word
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We will soon see PJ , meltdown t-8 minutes.
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7 now :)
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There should be a prize of a month commission free to anyone who can explain this clearly and concisely.
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Troy McClure
can you please summarise the rumoured changes. I can't make head nor tail of this thread. |
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Cant traders only win max 50% of the time ;)
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In return for the millions that Betfair will get, what will the payers get? Betfair are not exactly short of dosh are they?
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is this 20% government rule or betfairs?
How much of this 20% goes to government treasury? |