General Betting
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premium charge notification
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is there an average commission rate you pay that gives you an idea when the premium charge beckons? I realise it won't be quite that simple but just wondered. I'm on 26%, ie I pay 3.7% commission. Cheers.
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Can't wait for the PC to be ruled illegal in Australia under the new Unfair Contracts legislation.
* Bets are legal contracts in Oz. |
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betfair are using the exchange to attract customers cos there products have no value for punters.once you join and they see what sports you bet on,you are hit with targeted advertising and little sweetners to encourage you to bet on there products.just like a bookmaker which is the way betfair is heading all at the expense of the exchange.the premium charge is effecting more people as betfair cranks up its move towards a full bookmakers license.
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kenny, it's got nothing to do with what commission rate you are on. It's based on your win/loss ratio.
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I'm up to 26 percent now, so safe for the time being
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Pc is a good reason to take more risks it seems
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losing actually becomes beneficial
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One of my friends said that there is a 'first weeks notice' for premium charges, you only pay them from the second week. Is this right?
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Yes.
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Ok, thanks
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Betfair aren't in the least worried about other exchanges charging traders up to 75% less than betfair do, after all it's not like they supply liquidity. What might worry betfair on the other hand would be another exchange that only charged winners 20-25% of their lifetime profits as the real liquidity providers are paying far in excess of that. HTH.
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Many thanks Eddie, wasn't too sure how it worked.
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frying pan you do get the first week free,they warn you if you dare to continue to be successful then its out of the frying pan into the fire,sorry couldnt resist.But I think they warn you so you do all your profits on some forlorn hope.
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kenny - check this link. the important figure is the total charges % figure on the left. the closer it is to 20%, the closer you're geting to paying; once it goes under, you're liable.
. https://account.betfair.com/regpay-myaccount/premiumcharge/summary.html |
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he-he, they just said that cause I am an old client they warned me in october 2008 when the charges were brought on and so I have to pay fron the first week. Though my account until now was never close to Premium charges.
Thts just f*cking scandalous. |
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yeah, I never got the one week warning either.
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iv taken out nearly 5 grand since i opened this account a year ago will i be near to paying premium charge
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Impossible to say from that information only. It all depends on how you have won the money. The win/loss ratio is the most important factor.
You may get some information if you copy and paste this link into your allready open Betfair window : https://account.betfair.com/regpay-myaccount/premiumcharge/summary.html |
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https://account.betfair.com/regpay-myac count/premiumcharge/summary.html
This one will work, but you have to delete the space between the two c's in myaccount. |
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i lay correct scores, that just says i havent incurred the premium charge, cheers though eddie
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once you get hit with the premium charge it kills your chances of having a bet.unless you are making serious money which is what i thought the premium charge was all about.the prices on the football are not the best and the movement of inplay games is slowing to a crawl.i have been bombarded with emails for multiples cashback etc but any product betfair offers is just as bad as the premium charge.
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Can you please explain the difference in placing a bet for a PC payer making serious money and another PC payer who is making less money ?
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yes they are called the smart user who are making 100,000 plus annually and they would fall in the category of 0.5% and with that amount you can afford to take the pain of the premium charge.then theres the new premium charge payers who are earning considerably less, say 25,000 and not annually,so i suppose the next step is everyone will be paying it. this is only my opinion and i am not a layer and price is everything and i could not make it pay with a hit of 20% on every bet.
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Fyi, PC will hit everyone who pays it exactly the same way relative to their bank/betting amount.
I think you would also find that price is everything for a layer too. The charge doesn't work as if you have to pay 20% on every bet either(unless all your bets are winners). |
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if you want to defend it then thats your choice just telling you how it affects me but to me personally i cant see the point of giving betfair 20% plus of my winning bets.its all about shutting down winning punters,limiting them just like a bookmaker would
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I'm not defending the PC, I think it's a disgrace.
It is just that it is so bad in itself that there is no need to give any misleading information on how it works. You will not pay 20 % on winning bets unless all your bets are winners. |
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I'm on 3% commission and pay PC.
What that means is that effectively I don't pay commission anymore. I've now entered into a profit share agreement where Betfair get 21.5% of my GP. However, Betfair are free to switch. If I lose they can say, oh now we'll take commission instead, without giving you a rebate. |
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Investor, that sounds very correct, but wouldn't it be more correct to say :
I've now been forced into a profit share agreement |
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i am not misleading anyone i never said you pay 20% on all bets winning or losing.everybody knows how the premium charge works,and that would mean betfair are charging you to have a bet.
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Actually, I think that is exactly what you said :
steve3455 Joined: 14 Nov 04 Replies: 20 19 Feb 11 14:40 if you want to defend it then thats your choice just telling you how it affects me but to me personally i cant see the point of giving betfair 20% plus of my winning bets.its all about shutting down winning punters,limiting them just like a bookmaker would |
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I don't pay it but if they want to reduce my commission payments to a flat 20-22.5% of my profit I'll jump at the chance. HTH.
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Yes, feck I believe that's because you're currently paying more.
Pretty obvious you'll jump at the chance to pay less. So would I. if they want to reduce my commission payments to a flat 10-12.5% of my profit I'll jump at the chance. HTH. |
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If they reduce my charges to a flat 20-22.5% of my profits I won't complain about it, bad mouth betfair to my friends (re charges at least) and won't start or take part in any threads whinging about being charged less than everyone else. Always assuming they don't reduce Investor's charges to 10-12.5% of course. HTH.
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Why do you care if I pay less than you? We probably don't even play the same markets
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Because if they're going to decrease some group's commission it should be the group that contributes most to liquidity.
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Yes, in other words traders, without traders betfair would not exist. Especially when the site crashing screws them. Who do you think would be prepared to leave up liqidity when they have no idea when the site is contantly going down?
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Feck N. Eejit Joined: 10 Jan 02
Replies: 2912 20 Feb 11 09:05 If they reduce my charges to a flat 20-22.5% of my profits I won't complain about it, bad mouth betfair to my friends (re charges at least) and won't start or take part in any threads whinging [ ] believable. |
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True enough TurtlesBrain. Why would someone wanting a straight bet put it up on betfair? So it must just be trader v trader then? It makes you wonder why these providers of the famous liquidity don't just take each other on elsewhere where they'll be charged up to 75% less.
Traders must absolutely love betfair.  |
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Yes Eejit, traders disappear, (site continually crashing a very good way to cause this) = no liquidity for gamblers, can your simple little brain deal with this concept, or would you like it broken down into simpler terms, maybe words of no more than 5 letters
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Middlemen sitting in between layers and backers. Take away the middlemen and what are you left with? Layers being matched directly with backers? No, surely that can't be right? Is that why betfair said they weren't in the least bit worried about traders going elsewhere when they introduced the pc?
I'm confused. Maybe you should break it down for me TurtlesBrain. |