General Betting
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Hi, Looking for some advice on premium charges. Pretty knew to betfair but have been making some decent money so far laying anti post on various events. How much do you need to win before the premium chagre kciks in ? and what is the charge ?.
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Used to get 250 markets before it kicked in. Not sure if they're honouring that now though...
20% of your weekly winnings |
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Stevie , around 8-12K on average before it kicks in .
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Originally i think it was the difference between 20% of gross profits and what % of gross profit you had actually paid in commission .
So if you had £500 profit before comm , but had only actually paid £75 (15%)commission , you had to pay the £25 in PC to make up to 20%. But you had to be winning over the previous 60 weeks i think . And maybe didn't have to pay the first £1,000 . Though it has changed i think. There have been hundreds of threads , think i'll bring up the one from the day it was announced. |
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http://sports.betfair.com/aboutUs/Betfair.Charges/
The guidelines are in here. Once eligible you'll be sent an email telling you that they'll write off the first week but you've now reached the stage where you may be charged. There was a delay in sending me the email so I managed to get week two written off too. You pay 20% on your profits minus total charges generated. Total charges generated is your commission plus 3% multiplied by your losing bets (this is what they term 'implied commission' and is the commission they estimate they've made from the other side of your losing bets) and then this sum is halved. |
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Just to clarify it's 20% of (profit - total charges)
I'm not sure if you need to be paying PC to have access to this but this is your Premium Charge Guide (or Premium Portal): https://account.betfair.com/regpay-myaccount/premiumcharge/summary.html |
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I thought it was 22.5% of profit (not the 20% everybody has mentioned on this thread) due to the implied commision calculations.
Am I wrong ? |
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Coachbuster 29 Apr 23:08
Stevie , around 8-12K on average before it kicks in . What complete nonsense. The pc is calculated by comparing your gross profit with your generated commission. You only pay pc if the latter is too low compared to the former. There is no limit to the amount you can win without paying pc. |