General Betting
There is currently 1 person viewing this thread.
These 50 comments are related to the topic:
PREMIUM CHARGE QUESTION..
PREMIUM CHARGE QUESTION..
sort by:
Show
per page
Replies: 50
|
By:
I'm also a bit confused about he comission. It says you can be subject to the PC if you over a periode have paid less than 20 % comission on your winnings. Why 20 %? How can you pay 20 % when you're supposed to pay 2-5 %.
What am I missing here? |
|
By:
I think I got it. 20 % comission on your PROFIT vs 2-5 % on your winnings. Winnings will normally be maybe 10 times higher than the profit.
|
|
By:
is the great man banned?
 wheres annie? |
|
By:
Do **** charge a premium charge guys? May mover over to them.
Cheers Nick |
|
By:
i still don't understand about this commission generated part of the charge
 however i add it up it comes to more than 20 % in total charges since the charge came into effect . anyone more clued up than me ? an example from my sheets shows i have paid 140 pounds in commission on bets ,but it says on my portal i have generated 88 pounds worth of commission |
|
By:
this is PC1 and not 2 btw
|
|
By:
You can win a £1million pounds a year and still not pay 1p in premium charges.
|
|
By:
ALL YOUR BASE ARE BELONG TO US!
|
|
By:
Coachbuster - you only get credit for half the commission you pay, and they then take your losing bets and calculate the imaginery commission on this and half it (though the commission rate on this is confusing). These are then added together to calculate how much commission you have generated. If you are on 5% you would have generated profit of 2800 and paid 5% which equals 140. This would contribute 70 pounds of commission. The portal shows you have generated 88 pounds of commission. This extra 14 pounds would have been through your losses which would have been around the 560 pound mark (560 times 5% times half to end up with 14 pounds).
This is why the PC is even more unfair than it first appears. To be subject to the PC you must be making more than you are losing. However, you are only getting half the credit for the commission you have paid. If you have no losses during a week you end up paying 22.5%. This is made up of 5% commission (which you only get a 2.5% credit for) and 17.5% premium charge (20% - 2.5%). |
|
By:
Aussie Al, nothing confusing about the imaginery commission on your losing bets.
Betfair call it implied commission and is calculated as 3 % on all your losing markets. It was a floating % early on, but it's been 3 % on all markets for a while now. It is however correct that these 3 % also is halved when they are added to commision generated. |
|
By:
Aussie Al , thanks for that input ,i understand where you are coming from now about losing bets .
I looked again in detail and it appears to work a little like the working mans tax credits we have here in the UK  In other words,whatever you contribute in commission , you pay the residue to bring the bill up to 20 % unless the commission you pay is over 20 to start with of course , according to my workings. |