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.
03 Nov 10
10:28
Joined:
Date Joined:
15 Sep 02
Any single win that constitutes more than 50% of your gross profits over the lifetime of your account will be excluded from the calculation
Say the Account is £10k up on gross profits then in a week you place ome winning bet of £6k. Does this winning bet:
a) become exempt from receiving the charge? (i.e. is the Single Win calculated against the Gross Profit prior to it, or including it?).
b) become exempt from future calculations? (i.e. will future Premium Charges not include the £6k or will this basically just mean you pay it back in Premium Charges eventually anyway).
Say the Account is £10k up on gross profits then in a week you place ome winning bet of £6k. Does this winning bet:
a) become exempt from receiving the charge? (i.e. is the Single Win calculated against the Gross Profit prior to it, or including it?).
b) become exempt from future calculations? (i.e. will future Premium Charges not include the £6k or will this basically just mean you pay it back in Premium Charges eventually anyway).
Show More
I'm no expert but it would seem to me that winning a further £6k would make the liftime profit £16k and hence as £6k is less than 50% of £16k it could incurr the PC.
But what I think you were asking is, is a bet which wins and at the time represents more than 50% of lifetime profits always exempted ?
I would guess that the answer is no and if you continue to accrue profit then you are just delaying the PC on the big win until it represents less than 50% of lifetime profit.
But what I think you were asking is, is a bet which wins and at the time represents more than 50% of lifetime profits always exempted ?
I would guess that the answer is no and if you continue to accrue profit then you are just delaying the PC on the big win until it represents less than 50% of lifetime profit.
Escapee 03 Nov 10 13:38
I'm no expert
But even if you were an expert, I doubt whether you would fully understand the Premium Charge. (I know that no one at Betfair does.)
I'm no expert
But even if you were an expert, I doubt whether you would fully understand the Premium Charge. (I know that no one at Betfair does.)
Escapee is correct.
I asked a similar Q a few months ago and was given the same answer.
If you keep making a profit eventually the 6k win will be less than 50% of gross profits
so it is only delaying the payment.
I asked a similar Q a few months ago and was given the same answer.
If you keep making a profit eventually the 6k win will be less than 50% of gross profits
so it is only delaying the payment.
Feck will be along shortly to answer this one - strange that his pc radar hasnt picked this up yet [:o]
Angela, I asked my account manager this exact question a few months ago and he took a few days to find out and make sure the answer is correct.
Basically when the charge is calculated each week, the question is asked 'does any single win constitute more than 50% of Gross PL?' and if the answer is YES, this figure is excluded from that week's calculations. (This is not a quote from BF, please do not take this as BF's words and seek clarification from BF before taking this as gospel, etc etc). Some comments from me:
1) To answer part a) of your initial question, no it would not become exempt in that example as it has to be over 50% of the NEW Gross PL not the previous one. So if you are up 10k and win 6k, you are now up 16k and the 6k is less than half.
2) To answer part b) of your initial question, no it does not become exempt forever, it becomes exempt until such time as it goes under 50% of your Gross PL. Remember that you still only pay the smaller of your WEEKLY charge and your LIFETIME charge, so you won't suddenly get hit with a massive bill when it creeps under 50%, but you will likely then be paying PC on any winning week for the foreseeable future, though not inevitably, depending on your pattern of wins & losses of course.
Basically when the charge is calculated each week, the question is asked 'does any single win constitute more than 50% of Gross PL?' and if the answer is YES, this figure is excluded from that week's calculations. (This is not a quote from BF, please do not take this as BF's words and seek clarification from BF before taking this as gospel, etc etc). Some comments from me:
1) To answer part a) of your initial question, no it would not become exempt in that example as it has to be over 50% of the NEW Gross PL not the previous one. So if you are up 10k and win 6k, you are now up 16k and the 6k is less than half.
2) To answer part b) of your initial question, no it does not become exempt forever, it becomes exempt until such time as it goes under 50% of your Gross PL. Remember that you still only pay the smaller of your WEEKLY charge and your LIFETIME charge, so you won't suddenly get hit with a massive bill when it creeps under 50%, but you will likely then be paying PC on any winning week for the foreseeable future, though not inevitably, depending on your pattern of wins & losses of course.
Thanks everyone for your replies (espeically Knight Rider). Looks like I might be better off losing a large amount of money on a 10/1 shot in the near future!!
Post Your Reply
Please login to post a reply.
Wonder
Instance ID: 13539