General Betting
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Premium Charge Hike - Action needed
Premium Charge Hike - Action needed
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Replies: 164
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Its not worth putting in 10-12 hours per day every day if I'm giving 60% to betfair.
It rather depends on how much your 40% is. Obviously it's not as good as 95%, but 40% of something is more than 100% of nothing. Are you aware of the idiom "cutting off your nose to spite your face"? |
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Yeah, sounds great, risking your money to get 100% of losing bets and 40% of winning ones, what's not to like?
Fancy your chances if I lay you 2/5 on the toss of a coin  |
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Viva
I get refertilized regularly. I sit right next to the CEO's big desk, and his secretary has strict instructions to make sure I'm not drying out ever. So don't worry. All's hunky dory. |
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mr c , as you are betting on australian horse racing, do you bet in running ?
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that's all well and good. i'm just not wild about being made to pay through the nose for your baby bio.
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Viva
I'm funded by the 99.9% of normal punters not in any danger of being caught by the super premium charge. |
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40 - 60% on profits is crazy, extortionate charges. They say it won't effect 99% of users, that's true because less than 95% of gamblers actually make money. The money will sooner or later end up with the 250k bracket and 50% of profits to Betfair, it's like printing money.
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What I meant to say is reports claim less than 5% of gamblers turn a profit, the money will end up with those acting as bookies. If BF cream 50% off all high level betting profits, with the nature of the game you win some/ lose some, so the money here will eventually end up with BF. Is this too simplistic ?
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They say it wont affect 99% of users, however, like everything they say, it is a complete load of crap - who will put up prices for the losers to take if the winners decide they don't want to back an evens winner at 2/5
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pfft! bet he still couldnt pass my 100 pounds in one day on the horses challenge
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that's just become £200 a day [;)]
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how so?
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only joking paulme - £100 for BF, £100 in pocket.
But I'm pretty sure anyone with a large bank can easily make £100 a day on the nags, by just laying a long shot. |
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is that a premium charge joke mate?
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Someone that tries to profit by "just laying a long shot" is not going to maintain a £100 a day average for long.
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paulme
Date Joined: 20 Jan 11 Add contact | Send message When: 30 Jun 11 00:00 Joined: Date Joined: 20 Jan 11 | Topic/replies: 1,057 | Blogger: paulme's blog is that a premium charge joke mate? yeah, half the laughs go to BF  |
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my account was open in 2003...that 250k and 1000 bets over almost 8 years..that 31k a year and 125 bets a year to hit this new PC change...all have to do is hit 52% on even money bets, at a commis rate of 3% to being pay this..it not so hard to do over so many years
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i like the cut of your jib pacficrc
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mrcelebrity,would love a chat private.
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My previous was deleted so I think I am right in thinking who mrcelebrity is or more likely works for.
Interesting as I believe he was so good he caused a tiny exchange company offering a good product on US horses to stop. |
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I do not work for ZR if thats who you mean. I have no idea why the post was deleted but its interesting
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Ok - no problem - that's who I meant. The connection with Australian horse racing, the numbers you talk about and ZR make it an obvious connection. I was part of a group providing liquidity to an exchange doing US horses and basically ZR's agents broke the product. Basically we had to ruin the product for everyone because ZR's crew would just clean you out whatever you did. So I can see where BF are coming from with this charge but I fear their motivation is different.
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Was hoping to find other people affected by this pc rise(the representative on the phone said there were 2600 worldwide) especiallythose in Australia where we pay the premium charge in gb pounds.
That was my intent in trying to contact you. my email earlier in the thread. I am in Australia. |
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I sent you an email yesterday
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Were you tddg?
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no. i'll try sending another
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Alot of posters are forgetting one important thing.....the level of risk that the OP is taking in order to generate profits. Plenty of you are assuming that it's 'easy money' but if that's true then why aren't we all doing it?
The '40% of something is more than 100% of nothing' argument also winds me up. Not so long ago the 40% was 20%, so how long before it's 70,80, 90%? Betfair are dividing, and by the looks of it successfully conquering their once loyal customer base. Wake up and smell the coffee! |
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It's also conveniently forgotten how much the average winning gambler pays in expenses.
It's a lot more than sitting in front of a paid for computer all day and raking in free cash. My Sky TV bill will attest to that. The mind boggles at how much some people must pay in technology bills for all manner of different purposes. |
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paulme thinks that winning 100 a day is tough on bet fair, no offense mate but you must be a complete loser?? actually I've read your horse laying thread and laughed at it, you are a loser.
Go over to the aussie forum and you'll find dozens of posters winning 100 a day easily, christ today I tipped 11 lays all under $5, and 10 of them got beat some were odds on most about $3.60ish thats a 90% success rate laying horses under $5, don't worry about laying long shots that'll get you nowhere real quick. The one horse that cost me out of the 11 wasn't evenb a system bet but more of a STD bet, had I have just follwed my system bets today woulda been 10/10. Winning on the horses is easy as piss if you have a brain for lateral thinking and know how to do a bit of research have a structred bank and staking plan. |
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Alot of posters are forgetting one important thing.....the level of risk that the OP is taking in order to generate profits.
Less than 5% comm and winning every week doesn't represent a high level of risk. Agree with Feck the charge seems acceptable for customers like him. I know nothing about horse racing i dont even know if Aussie horse racing is in running but his winnings would suggest somebody with fast pics hoovering or a very efficient bot. |
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I can't understand why all these people are attacking the guy, sure he is a big winner but how does that effect any of you, i can understand his anger at having so much taken away and in time he may come to live with it.
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where do you get 5% from did you not read what was typed.
Mr celebrity Now let me make sure I'm getting this right. You've paid $200,000 PC this year, being 15% of your gross profit. So your bottom line net profit has thus been ( .8* 200,000/.15) = circa $1,060,000 pa. And now you think your PC bill will go up by circa $ 300,000 pa, thus reducing your net profit to ONLY $ 750,000 pa. If I'm correct, I'm astounded that you are crying poor and looking for urgent help. Is this for real ? Have I missed something important here ? looks a lot closer to 20% to me |
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No_BS
30 Jun 11 09:23 Joined: 24 Apr 11 | Topic/replies: 72 | Blogger: No_BS's blog where do you get 5% from did you not read what was typed. The opening post. as I always pay less than 5% of my gross profit in commission. I also understand he is a 20% PC payer as i can read thankyou |
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Lori
30 Jun 11 08:38 Joined: 20 Apr 04 | Topic/replies: 35,407 | Blogger: Lori's blog It's also conveniently forgotten how much the average winning gambler pays in expenses. It's also conveniently forgotten how much Betfair pays in expenses to run the site. |
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Ronaldino
How dare you point that out. |
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It's far less than they take in commission if that's what you're getting at.
My point is that when they take 40% of someone's winnings, that can easily turn a winner into a loser. Not that I'm making any point there other than a lot of the stuff aimed at the winners "60% is still better than nothing" is often not true. |
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Obviously it's less than they take in commission, otherwise they wouldn't be turning any profit.
But they also need to generate revenues to upgrade and improve the site and market and explore new products/new markets, grow the business etc and etc. I do agree with the point about the swings and roundabouts of many a punter's performance, though not all. |
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mr celebrity bets on 15 /20 australian horse racing markets a day....never trades or places a lay but always wins hundreds thousands dollars montly( on markets with a medium small liquidity)and his commissions are costantly below 5% of his net profits...but he is the one who needs help....funny thread
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You're no moron.
Nicely summed up. |
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Lori
30 Jun 11 09:47 Joined: 20 Apr 04 | Topic/replies: 35,408 | Blogger: Lori's blog It's far less than they take in commission if that's what you're getting at. Big long discussion on where BF spend or waste their revenues. My point is that when they take 40% of someone's winnings, that can easily turn a winner into a loser. I am in that category. |