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
General Betting
Welcome to Live View – Take the tour to learn more
Start Tour
There is currently 1 person viewing this thread.
Hello to all, as you can suppose, i'm a newbie inhere... been betting for years with traditional bookmakers (mostly Pinny and some asian books), now I want to see howz things going on exchanges.
Decided to take my first bet just to see how it works, and now I'm pretty much confused
As I said, first bet was just to see how the commision is calculated, so I went with minimum stakes, 4.50€
I've placed a bet (Sedan -0.25 @1,96), and I've been charged for an extra 0.02€, my balance was decreased for 4.52€ instead of 4.50€
That confused me a bit, cause rules says that commision is taken only on winning bets, not on your stake
Game finished, bet won, and new commision for me
Instead of 4.32€ profit (4.50x1.96=8.82 | 8.82-4.50=4.32) I've got back 8.62€ which means 4.10€ of profit. Another extra fee, now 0.20€
Questions:
What is that 0.02€ and what is 0.20€ fee?
Is there any way (formula or something), that can recalculate the odds, because my current balance does not coincides with my balance that I keep record of in my excel file? For example; for my bet mentioned before, the real odds would be 1.91 instead of 1.96 (4.50€x1.91=8.59 |8.59-4.5=4.09€)... hope you understand what am I trying to say
Thanx very much in advance!
Decided to take my first bet just to see how it works, and now I'm pretty much confused
As I said, first bet was just to see how the commision is calculated, so I went with minimum stakes, 4.50€
I've placed a bet (Sedan -0.25 @1,96), and I've been charged for an extra 0.02€, my balance was decreased for 4.52€ instead of 4.50€
That confused me a bit, cause rules says that commision is taken only on winning bets, not on your stake
Game finished, bet won, and new commision for me
Instead of 4.32€ profit (4.50x1.96=8.82 | 8.82-4.50=4.32) I've got back 8.62€ which means 4.10€ of profit. Another extra fee, now 0.20€
Questions:
What is that 0.02€ and what is 0.20€ fee?
Is there any way (formula or something), that can recalculate the odds, because my current balance does not coincides with my balance that I keep record of in my excel file? For example; for my bet mentioned before, the real odds would be 1.91 instead of 1.96 (4.50€x1.91=8.59 |8.59-4.5=4.09€)... hope you understand what am I trying to say
Thanx very much in advance!
Show More
You mean this:
(Betfair quote -1) x (1 - 0.05) +1 = Actual price
? :)
Found just what I needed... but thanx anyway ;)
But still those 0.02€ remains mistery :)
(Betfair quote -1) x (1 - 0.05) +1 = Actual price
? :)
Found just what I needed... but thanx anyway ;)
But still those 0.02€ remains mistery :)
Betfair always round up the commission to the nearest 0.01
By my calculations, you should have received 4.10 profit
By my calculations, you should have received 4.10 profit
And I did received a 4.10 profit, all clear :)
Just one little thing that I don't get: why they take off my balance 4.52€, when I placed a wager worth 4.50€? Currencies differences? OK, but why no other book takes that? When I wager 50€ on Pinnacle, they charge me for 50, not for 50.05 or so :)
Just one little thing that I don't get: why they take off my balance 4.52€, when I placed a wager worth 4.50€? Currencies differences? OK, but why no other book takes that? When I wager 50€ on Pinnacle, they charge me for 50, not for 50.05 or so :)
Post Your Reply
Please login to post a reply.
Wonder
Instance ID: 13539