General Betting
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After a long absence from Betfair, I had my first bet with my new account last week. My gross win was £12.40. I paid 0.62 in commission and on top of that, I still had to pay another £2.17 in Premium Charge. So I was charged at 22.5%. I won't be betting with Betfair any more. But I will keep my account open this time, just so that I can have a good whinge on this forum.
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i agree. unless you include the words 'feckin cheating scum' at some point then your post doesnt even qualify as a whinge. If you phone BF customer services they will email you the correct format for writing a whinge-post.
Just a thought
You made 77.5% profit in a few minutes..
Most savers will be dead waiting to accrue as much interest as that.
You made 77.5% profit in a few minutes..
Most savers will be dead waiting to accrue as much interest as that.
kohaku...hows that little gold nugget doing....
whats the stats now...ive been away since we last spoke on here
whats the stats now...ive been away since we last spoke on here
"I won't be betting with Betfair any more. But I will keep my account open this time, just so that I can have a good whinge on this forum."
As you've made your intentions clear I'd be quite happy for betfair to close your account and donate your funds to charity.
As you've made your intentions clear I'd be quite happy for betfair to close your account and donate your funds to charity.
No, I don't want that. When I said that I won't be betting with Betfair anymore, I didn't necessarily mean for ever and ever. But I certainly won't be betting with Betfair again in the near future...except for the St Leger.
use BF for your 'cover' bets and a different exchange for your main bet.
for example. if you expect team A to win or draw but also want to cover the 0-1 loss, then back the win/draw somewhere else and back the 0-1 loss on here.
assuming that your cover bets lose more than they win then your P&L on BF will decrease and you will move away from the PCharge.
for example. if you expect team A to win or draw but also want to cover the 0-1 loss, then back the win/draw somewhere else and back the 0-1 loss on here.
assuming that your cover bets lose more than they win then your P&L on BF will decrease and you will move away from the PCharge.
fallenangel, what's the point in having those bets if you assume they are long term losers ?
they are not separate bets. they are part of a larger bet.
please tell me that you understand this and that you are really fishing!!
please tell me that you understand this and that you are really fishing!!
I understand what you are saying , but what is the point in putting that part on if you assume they will be losers ?
because I think it is still a possible result of the match, be it a small possibility.
what I do is cover what I believe are all the possible results on a match, and if that gives me a good return then I place the bets.
I am not assuming the 0-1 score will loss. I think it is the least likely of my bets to win, but if my research says it is a possible result then I will back it as cover.
however, as I think it is the least likely of my bets to win, then I am suggesting placing it with BF if I wanted to bring my P&L down.
what I do is cover what I believe are all the possible results on a match, and if that gives me a good return then I place the bets.
I am not assuming the 0-1 score will loss. I think it is the least likely of my bets to win, but if my research says it is a possible result then I will back it as cover.
however, as I think it is the least likely of my bets to win, then I am suggesting placing it with BF if I wanted to bring my P&L down.
Ok I understand all this, but I don't see the point in putting on bets that you assume will lose in the long run. This means you are putting bets on that you "know" have negative value.
...but that 'negative' part of the bet is outweighed by the profits made from the winning part of the bet.
When I bet on a match I usually place 5 separate bets which are part of a larger bet which pays around 7% profit.
4 of those bets will lose, only one will win. which ever one wins I get an overall return of 7% profit.
if I knew which would be the losing parts of the bets, then obviously I wouldnt place them and would get a much higher return than 7% profit.
all I can say about the PCharge, is that I have won enough to put me over the PCharge level, but because I place the 'less likely' to win parts of my bets on BF and the 'more likely' to win parts on other exchanges I have never had to pay the PCharge.
if I didnt place the 'less likely' to win parts of my bet then I would not have done as well. Its down to the maths really mate.
anyhow, I wish you luck, and hope that a few winners head your way this weekend.
When I bet on a match I usually place 5 separate bets which are part of a larger bet which pays around 7% profit.
4 of those bets will lose, only one will win. which ever one wins I get an overall return of 7% profit.
if I knew which would be the losing parts of the bets, then obviously I wouldnt place them and would get a much higher return than 7% profit.
all I can say about the PCharge, is that I have won enough to put me over the PCharge level, but because I place the 'less likely' to win parts of my bets on BF and the 'more likely' to win parts on other exchanges I have never had to pay the PCharge.
if I didnt place the 'less likely' to win parts of my bet then I would not have done as well. Its down to the maths really mate.
anyhow, I wish you luck, and hope that a few winners head your way this weekend.
Most of my betting is now on the other exchange. But ante post laying is not sufficiently covered on that one, so I still need Betfair for this.
i agree with you. i still need BF for certain bets. but have managed to get my comm down on other exchange to very low level.
anyhow, how would we live without the forum
anyhow, how would we live without the forum
Let's get down to Betfair HQ in Hammersmith and hurt the members of staff who are responsible for implementing the Premium Charge.
Eddie the eagle Joined: 01 Feb 04
Replies: 1787 27 Aug 10 15:31
Ok I understand all this, but I don't see the point in putting on bets that you assume will lose in the long run. This means you are putting bets on that you "know" have negative value.
Sometimes a bet that has a negative expectancy taken in isolation, can improve the overall positive expectancy of a series of bets if you are betting on a number of selections in the same market, but I assume you're already aware of that.
Replies: 1787 27 Aug 10 15:31
Ok I understand all this, but I don't see the point in putting on bets that you assume will lose in the long run. This means you are putting bets on that you "know" have negative value.
Sometimes a bet that has a negative expectancy taken in isolation, can improve the overall positive expectancy of a series of bets if you are betting on a number of selections in the same market, but I assume you're already aware of that.
^
That might not be completely accurate, but it's defintely the case for optimal growth (kelly), negative expectation bets can make sense.
That might not be completely accurate, but it's defintely the case for optimal growth (kelly), negative expectation bets can make sense.
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