General Betting
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They would be bankrupt before they knew what hit them.......
Yet as sportsbettors we put up with this horrendous charge when really we should not... The truth is that this charge is A FU CKING OUTRAGE
p.s. I am yet to incur the charge myself, but since every sportsbettor places bets with the hope of making a positive return on their outlay, we should all have a vested interest in getting this charge turned over
WE CANT GO ON LIKE THIS!!!!
Yet as sportsbettors we put up with this horrendous charge when really we should not... The truth is that this charge is A FU CKING OUTRAGE
p.s. I am yet to incur the charge myself, but since every sportsbettor places bets with the hope of making a positive return on their outlay, we should all have a vested interest in getting this charge turned over
WE CANT GO ON LIKE THIS!!!!
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Replies: 20
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Get over it, it will go on like this.
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Can you imagine IG index changing to a charge based purely on profit per market? Positional players wouldn't be able to get on because the telephone lines and internet site would be monopolised by trading parasites. They'd have to take on extra staff to accommodate the ponces and they'd soon go bust as their own take would absolutely plummet.
No great loss right enough. |
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It's not only traders that are getting shafted by the premium charge, I never trade or use a bot or any other software connected to the site and got a premium charge notification email last week..
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I didn't say they were but if you were wrongly convicted of murder joining a campaign to have the maximum sentence for murder reduced to a 2s/6d fine is not the answer.
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What commission structure do you propose Feck?
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dashero, I think the default commission should be a small turnover charge (payable by both backer and layer on the smaller of the backer's / layer's liability) so that new customers are not deterred. Customers would then have the choice to opt in to a more complex scheme such as a revised version of the one we have now (one in which traders etc. would be paying more in line with the average gambler - see formula below). The problem betfair would have with this is that hooverers and insiders would be paying even less than they used to before the pc was introduced. With that in mind some customers would be forced on to the more complex scheme.
The all new liquidity generating Premium Charge = (GrossProfit - 5 * CommissionGenerated) / 2 |
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In the early days of BOTfair the the most successful Bot Meisters usually ended up with a partner.
Now in these more "public" days PC and TC seem to be the method of choice. |
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feck -
a customer who pays pc wants to make a 100 quid net profit backing at the odds of '2' under your new pc charge how much would they have to bet to get that 100 quid net? |
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The all new liquidity generating Premium Charge = (GrossProfit - 5 * CommissionGenerated) / 2
This formula is worse for some gamblers as you full well know. |
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iz, it would depend on his lifetime gross profit and commission generated but, just as it does now, if the bet lost the losses would be offset against his future pc's. The main difference would be that he would be unable to fool those that matter most into believing they were under threat of the charge as, in most cases, those being charged it would have opted for the charge.
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ICS, if you're not a trader, fast pic merchant or insider presumably you'd opt to stay with the default small turnover charge.
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I'd opt to stay with the current PC over your formula as your formula costs me even more.
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Good for you.
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sorry feck, i don't understand your reply........
betting at odds of 2 - - someone on 5% com would bet 105 to net 100 profit - someone on 20% com would bet 120 to net 100 profit - how much to bet for your new charge to net 100 profit? |
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Tbh, my biggest gripe with the PC if I have to pay it is the insanely short time frame it is assessed over which completely ignores the variance any player would encounter on here. It punishes people who bet in fewer markets per week and makes the assumption that profits are similar each and every week.
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iz, if someone paid pc every week and they had £100 @ 2.0 on a loser how much would they lose?
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ICS, as I said on the other thread, it should be based on lifetime profit and refunds should be given. That way they could deduct/refund the pc after each market. They say they can't give refunds because it would be easy to fiddle but I don't see that it would be that much harder than it is just now.
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No, I don't buy their argument either. Still, they're the one with the stagnating company. I know as soon as my edge erodes I'm out of here for good.
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Feck N. Eejit , I think your comments smell of self interest rather than general interest coupled with a whiff of bitterness
Perhaps the main unique selling point of Betfair is the ability to trade an event, be they football matches, horse races, cricket matches or any other game Charging a turnover commission would decimate the in running markets (they would look like ****) as people dip in and out of markets with larger stakes than they would wager. |
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ÖÐÎÄÂÛ̳, you obviously didn't read my post as I said anyone could opt in to the current system.
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