General Betting
There is currently 1 person viewing this thread.
If I bet value and make a profit over a long period, is it likely that I'll be hit for the premium charge? Hoping not since I'd still be losing on plenty of markets (unlike arbers/traders etc) and therefore generating a fair bit of commission compared to net profit.
Does anyone know if PC is an issue for successful value bettors?
Does anyone know if PC is an issue for successful value bettors?
sort by:
Show
per page
Replies: 14
|
By:
PC applies here
hth |
|
By:
Roughly,
if you win £100 you pay £5 comm but they count it as £2 generated. if you lose £75 they count as generated £1.50. Net profit £25 and generated comm is £3.50. 20% of £25 is £5 so they take another £1.50 premium charge off you. You win £25 less £6.50 in betfair taxes. So yes even value bettors will be hit by it. |
|
By:
All depends on what value you're getting. Say you won £100 and lost £80 in the same week betfair would still want a little extra in PC off that £20 winnings if you fit all the other criteria.
|
|
By:
"Hoping not since I'd still be losing on plenty of markets (unlike arbers/traders etc)"
 How long have you worked for betfair? That is a remarkable load of detailed crap for your first ever day! |
|
By:
PC is non discriminatory.
But that's the problem. It shouldn't be. Ask Turtle. He'll tell you all the reasons why, some of which I even agree with. But alas not all. |
|
By:
@ Turtle... The plants aren't even subtle these days.. |
|
By:
Gee you just can't turn your back for a minute on here.
It would be overgrown by plants in a nano second. |
|
By:
Be ever vigilant Turtle et al.
|
|
By:
yes it does is the answer
|
|
By:
But it won't necessarily make you unsuccessful. Just perhaps less successful.
|
|
By:
Lol I don't work for betfair, just wanna know if it's worth my time trying to make money value betting.
Question: let's say I make a really small profit on average, so that in total I've paid a lot of commission compared to profit (for example in a year I make 5000 and lose 4900). But let's say some weeks I make heaps and some weeks I lose. Do I get taxed by PC on the weeks I make a lot, even if my overall commission generated is above 20%? |
|
By:
no
|
|
By:
So how come people say the order of results matters?
|
|
By:
Customers going on a good run early in their Betfair life may pay loads of PC before they eventually go on a bad run or break even over a long period.
Other customers may have a long period of breaking even or losing a little before they go on a good run and pay no PC just because they were "lucky" enough to not start off with the good run. Both these customers could have the same gross profit , but one has paid loads of PC and the other none. |