General Betting
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New PC charges
New PC charges
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Replies: 457
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Err .. because his charges are already > 20?
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I'm not surprised eddie. whatever people think of the "morality" of this, i think in business terms it makes sense.
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scarecrow Joined: 26 Jan 05
Replies: 5135 28 Jun 11 14:58 i feel so sorry for the people this will effect,i was caught in the net the first time they introduced pc and know what it feels like ----------- I'm not sure I do. it's harder to feel sorry for someone who's 250K net up than a lot of the small players who were caught first time round. in fact, if they were going to do this and simultaneously significantly raise the 1K lifetime allowance, i think on balance I'd be in favour. |
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"Betfair shares are among the best performers on LSE today. Currently up 4 %"
There's none so blind as those who will not see |
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This new charge will bring in 100's of new high staking customers (NAP).
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Sorry, meant to say accounts, not customers.
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lol FECK....
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surly players affected will just open a new account and pay the %20 pc till they get to 250k profit
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FYI: Betfair's share price is moving around today because David Yu has announced that he will resign.
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the accounts would be linked for PC purposes aspy as they are now.
though the motivation to try and do that covertly will be admittedly greatly increased. |
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What surprises me is Betfair must realise how this thread (and the many more to follow ) will tell the world how bad Betfair has become.
Years ago we would have recommended them, and now? I doubt it. The foundation of 'winners welcome' and the difference between here and bookmakers is now truely gone. I wonder what Andrew Black and Edward Wray really think of how their baby has changed. |
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"This new charge will bring in 100's of new high staking customers" .. to betduck.
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preciely aspy
i've just had a call and let my feelings be known. i. i am sympathetic towards to the concept of a premium charge. ii. i am sympathetic towards the introduction of sensibly graduated scale of the charge based on on net profit:commission ratio. what i cannot accept in any way is that this charge is based on how much i have previously made. as i said earlier, customers who have previously avoided the charge, and thus must have been considered profitable under a previous model, should now be charged and charged at a minimum double the previous charges. |
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Googlebar
28 Jun 11 15:11 Joined: 06 Sep 10 | Topic/replies: 3 | Blogger: Googlebar's blog FYI: Betfair's share price is moving around today because David Yu has announced that he will resign. That was announced yesterday and there was no real movement in the price. Look at a price chart of today and the price moved up a few % at eround 12.00 which incidentally when the PC charges announcement was made |
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Just Checking, read my follow up post ffs.
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stock market loves anything that makes companies money at expense of public and consumers
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the yu resignation's been more or less assumed for a while, so I think it was probably already factored into the price.
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But this will lead to lower profits long term.
I said it on another thread, but will say it again . If you have any spare money to invest , go short in Betfair shares. Absolutely no way this can be good for Betfair long term. |
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The absence of a sliding scale is madness but it also seems strange to treat someone who's made 25K a year for 10 years the same as someone who's making a million a month.
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"Just Checking, read my follow up post ffs."
I did of course, calm down dear. It was very drole. And I was pointing out that, in addition to the route of not getting stung for an additional 40% by opening a second account (which would of course be frowned upon), betfair have in one troke a significantly stronger incentive for people with big wallets to just move to betduck. |
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i don't think the volume of money made is in any way relevant. it's exclusively about the commission:net profit rate.
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feck even in normal work the ones making the most all live in switzerland,iom or monaco its always the poor s ods in the middle ground who get mullered
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"one [S]troke created" should say.
I'll read my posts before clicking once Ryanfair start taxing us for them :) |
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say i'm a heavy telephone user, and my operator introduces new rates, can they charge me more based on my previous behaviour at greater rates for exactly the same behaviour as a new user?
it has to be based on current behaviour entirely independently of previous behaviour. |
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Eddie the eagle Joined: 01 Feb 04
Replies: 3549 28 Jun 11 15:24 But this will lead to lower profits long term. ---------- I'm not sure it will eddie. there are basically only two things that matter to BF: 1) how much new money comes into the exchange 2) what proportion of that money ends up belonging to them and what proportion is withdrawn by third parties. anyone affected by this change almost by definition puts no new money into the pot. therefore the only danger is, will their reaction to this somehow affect what others put in? if other players (or BF themselves) replace the liquidity, and those who leave don't create a credible competitor (the main risk involved in this decision imo), then in strictly business terms it's a good move. |
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Apologies JC.
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I've heard around 60% of horse racing liquidity is down to little more than a handful of people. Presumably they must all already be on or near those marks because, if they're not, it's hard to see how betfair will replace that liquidity and their defection to the purple would see a lot of people following them.
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No probs FNE. I know you must be a bit techy as they didn't implement your system
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LOL JC.
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Ok so who wants to make a credible competitor??? It will take money and time, but will pay off in the long term.... Maybe work in alliance with an already operational exchange.
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I can see this leading to players who still are far away from 250k, but who might get there in a few years time, taking part of their betting activity elsewhere. Betting on other exchanges whenever liquidity allows in order to put off the time they get to 250k.
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The 250K profit figure won't last long (nap)
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I agree with that FLL. They'll have to introduce it to everyone just to combat duplicate accounts.
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BF to buy the purple NAP
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Mental. Only with Betfair can you lose 30% of your income and find out via a forum.
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Just had the call. Felt a bit sorry for the fella doing the ringing around TBH. Talk about being on a hiding to nothing.
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I am a 40% payer and cannot find another solution except creating a new account and bet will you're 250k again. Otherwise, I'll just have to stop betting with BF. In my opinion, it is a clear message, that I am not welcome to BF. Just crazy!
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I have a question:-
If your lifetime pattern is 4% commission and they alocate me a 60% premium charge, can you change your pattern to go to as 11% commission and therefore revert to a 40% premium charge (despite a long historiy of winning). As I understand it the 10% commission will more or less come off the premium charge anyway. So this amount is not added to premium charge in terms of overall fees. My guess is they still tally up commission from a lifetime perspective and it would take a long time budge from 4%. Cheers |
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wait...
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 is that an error, or are they actually switching to commission paid rather than generated? |
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Alexandru, I think you will find that it's very hard to get around the charge by opening new accounts.
You would need to use another persons name and bank account, a totally new static ip-address preferably linked to this new users name and address, a new computer and probably even more things I don't know about. |