f*cking greedy bastards! building their capacity through us and spitting on our head now.
who paid fortunes of commission? who delivered the huge liquidity to generate new customers? it have been those people, who are now getting f*cked.

40% here.  Utter ****s.

That may well be the end of my career on here.

Cheers Betfair.

There is now an official post about this by Betfair in this forum.

Definitely mine Contrarian. Probably a blessing in disguise. We should all combine with our profits and create a rival exchange with a Sheikh venture capitalist.

It strikes me that 0.1% of active customers is actually a fairly high amount.  Can't help but think they are in trouble.  The rates are up to 60%, and I don't think there's any way it's justifiable to make more out of someone's efforts on here than that person make themselves.

They have gone from wanting a bigger cut of profits (arguably this is justifiable) to wanting to actively drive away certain customers.

@johnny fontaine, you need to log into terms.betfair.com it will tell you what you are going to be hit for.

Come on. If you're in the 60% zone after a 1,000 markets it's a statistical certainty that you're a bent horse racing punter, or a hoovering scumbag. Either way they should pay it.

loving the specious reasons for the increase.

what a joke.

i could just about sympathise with the reasons for the original 20% but this ridiculous.

if you want a share of my winnings to develop the exchange, i would like to be consulted and involved in the approval process on how you're going to spend them and not spunk them up the wall.

cheers RMB.  Thought that was the case.  SO fast picture merchants going to be on sixty then and tick traders/scalpers then.

Not necassarily RMB.

It depends the average commission generated by JF

If I ever got to 250K I'd almost certainly be on 60%.

just because your current total is 19-20% does not mean you pay 40% as it will include pc paid. They actually look at comm generated. I know of a case where someone is 20% on the premium charge page but on lifetime at terms.betfair.com is on ~9% so will be paying 50%.

Laughable 'justification'

eudaemon     28 Jun 11 13:47 
just because your current total is 19-20% does not mean you pay 40% as it will include pc paid. They actually look at comm generated. I know of a case where someone is 20% on the premium charge page but on lifetime at terms.betfair.com is on ~9% so will be paying 50%.



Cheers. Yeah, FLL, didn't think about that either. Betfair and I have had a shocker here.

Driven away from bookies as they won't take a bet, the novel idea of the exchange was perfect, now look at it. 50% tax. Shocker.

Had this charge been implemented since I opened my account 10 years ago I would have paid an extra £150k to betfair.  Instead of getting £100k a year from me they will now get nothing.

My commission generated figure/gross lifetime profit is less than 4%

That's the figure that matters. Not the Total charges figure which will always be around 20%

The people saying it won't effect me so I don't care and they deserve to pay it just think who they will try and get more money out of next....

JF* even

They're making phone calls to affected customers now to advise them of the new charges. Just got my call and had to stop myself heading into a 5 minute rant. Maybe they should give it a couple of days to sink in before calling people!

40% for you JF.