General Betting
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Customers will be subject to Premium Charges at higher rates if they satisfy the following conditions:
Lifetime net profits exceed £250,000
Lifetime commission generated less than 40% of lifetime gross profits
Bet in more than 1,000 markets
The Premium Charge rate applied to each customer that satisfies these conditions is dependent on their lifetime commission generated to gross profits ratio. The exact rate will be determined by the following table:
Lifetime commission generated
to gross profits ratio Applicable Premium Charge rate
< 5% 60%
5% - 10% 50%
> 10% 40%
Lifetime net profits exceed £250,000
Lifetime commission generated less than 40% of lifetime gross profits
Bet in more than 1,000 markets
The Premium Charge rate applied to each customer that satisfies these conditions is dependent on their lifetime commission generated to gross profits ratio. The exact rate will be determined by the following table:
Lifetime commission generated
to gross profits ratio Applicable Premium Charge rate
< 5% 60%
5% - 10% 50%
> 10% 40%
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Replies: 457
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Less than 40%. Holy feck.
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WTF, are they raising the barr ?
40 % , that would be devastaring for plenty of punters/position takers .... |
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Apart from millionaires who play Betfair for fun, I'd imagine the majority of people with a lifetime P & L £250k + are well inside that 40%
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Betdak can now introduce a charge of their own and still come out looking like the good guys
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What a disgrace, this company will go out of business one day.
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The purple site just need to clean their site up. It's still a sticky mess.
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Liquidity still a big issue with the purple site though.
An example - i just looked at the 2pm womens WC match, over 90k matched here on match odds, just £330 matched there!! |
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I bet betdak introduce a charge just below 20% before the end of the year
To coincide with a new layout and brutal advertising. |
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I'd have thought purple would need to increase their customer base before considering any charge, at least that would be my priority.
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40% with no rebates makes it almost impossible for any profitable gambler to keep using the site. And I specifically mean 'gambler'; ironically the hooverers who make risk-free money will be the ones that can carry on, they will just pay a higher % to Betfair.
This could be the final nail in BF's coffin, think they have seriously misjudged this. |
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eudaemon is that more than 1,000 markets per year or lifetime?
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will be lifetime no doubt.
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Can anyone of the forum regulars confirm this ?
Has anyone had a call or an email from Betfair regarding this ? |
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It is lifetime.
Spot on Knight Rider though it won't be a nail in any coffin. Won't affect 99% of punters, and it will drive away the successful non cheating ones. I suspect markets which they percieve will be affected will have liquidity input from an outsourced partner or dare I say it, in house? |
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You expect betfair to ring people likely to be affected and tell them?
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BET.L price suggests there's something in it and someone is acting on it.
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no email here... improbably too small too count. Glad to see communication is still a major priority considering some people knew this in advance
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40%
**** |
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link?
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I'm utterly stunned by this. 20% I can handle but this is unbelievable.
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Poster has been here 10 years and made 5 posts. I suspect what he says is absolute.
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https://terms.betfair.com/
Thats the only source, but you can only log in and see it IF you are going to be paying the charge. |
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This is definite, I'm afraid, The people likely to be affected will be getting emails.
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I am stunned and shocked... Betfair messing with what got them here, and they will eventually pay the price. U do not spit on the face of the people who got you here, and get away with it. It's called Karma....
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that would be it for me...running at 19.97%.
could n,t make it pay anymore. |
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ok, i checked my mails. i wrote them back if this was a fishing mail. i wont log in there until it is confirmed its not a fishing mail.
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@RMB , ive made more than 5 posts in the last 10 years, i was a regular on the cricket forum.
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email received.
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From 18th July 2011 Betfair will be making some changes to the Premium Charge which may affect you directly.
Full details of the changes can now be found on the Betfair Charges page under the About Us section of the website but the changes can be summarised as follows: Customers will be subject to Premium Charges at higher rates if they satisfy all of the following conditions: Lifetime net profits (gross profits less commission paid and Premium charges debited) exceed £250,000 Lifetime commission generated less than 40% of lifetime gross profits Bet in more than 1,000 markets As of 20th June 2011 your exchange betting activity satisfies the criteria set out above. In order to view the Premium Charge rate that will apply to your future betting as well as the calculation that determines your rate and the date from which the rate becomes effective, we have developed a secure online portal. The portal can be accessed at terms.betfair.com by logging in with your Betfair username and password. For the purposes of introducing a change to the Premium Charge rate that applies to your betting, we will assume that you have always incurred the Premium Charge at the prevailing rate. For example, if the Premium Charge rate applicable to your betting is now set at 40%, we will assume that you have always paid Premium Charges at 40%. This will ensure that you are considered to have generated total charges equal to at least 40% of lifetime gross profits at the point that the new rate becomes effective. For more information, please visit an FAQ section on our forum. We hope the information provided will outline why we are making these changes and how they will be implemented in practice. Alternatively, if you have any additional questions about the changes we are making that are not covered in the FAQs then please contact your account manager or email premiumcharge@betfair.com. Yours sincerely, |
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I will be on 50%. Impossible to bet under this conditions. I got email from Betfair. Betfair obviously dont want long time loyal customers. New customers have to make 250k first.
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Are we reading this wrong? Won't the Premium Charge still be 20%, but you're in the net if you've not paid 40%?
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its not fishing [:(]
Dear *****, I can confirm that this is indeed from Betfair, please go through the portal under terms.betfair.com to find out if and how out you will be affected. Kind regards Carl Albon Premium Account Executive |
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I don't understand why 40% and not 100%. It's only fair that for any 1$ you make, you add one for BF too.
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just short the stock if you want that additional 20% back
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I couldn't get into that page. Probably because I'm just above 50 % at the moment, but that is including PC paid. My commission generated though is roughly 34 %.
Will this be like before when the first week, when they are telling you, being waived ? |
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Also, the 250k threshold is an obvious testbed, it will be removed within 12 months.
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email received with link to new portal - I'm being done for 50 percent
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The current Premium Charge mechanism will remain in place but higher rates may now apply to a small number of customers (less than 0.1% of annual active customers).
Recognise that? |
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absolute disgrace.
I'm along way short of 250K so will just be on 20% upto 60% is just ridiculous. |