General Betting
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04 Jul 11
14:53
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Date Joined:
28 May 11
Blast from the past comments from a Betfair employee, 2008:
Posted by Pythia on 02 Oct at 09:57.
People can take a view about whether charging fewer than 500 winning customers out of more than 110,000 exchange punters, last week, is the right move for the overall health of the exchange. But to suggest that Betfair is intent on forever putting up prices and charging whatever it can get away with is risible.
Risible indeed...
Posted by Pythia on 02 Oct at 09:57.
People can take a view about whether charging fewer than 500 winning customers out of more than 110,000 exchange punters, last week, is the right move for the overall health of the exchange. But to suggest that Betfair is intent on forever putting up prices and charging whatever it can get away with is risible.
Risible indeed...
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Indeed
ris·i·ble (rz-bl) adj. 1. Relating to laughter or used in eliciting laughter. 2. Eliciting laughter; ludicrous. 3. Capable of laughing or inclined to laugh.  |
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has this employee replied to Lori yet or is he still waiting? |
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I'm not ****ing laughing
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Still waiting GW!
Fwiw I don't think they'll increase it, I think they'll lower the threshold. |
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dear me - I probably will miss the answer then - only a few weeks left on here for me I think. Looking at the other place or just gonna knock it on the head altogether - not sure tbh.
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It's surely a 1.01 shot that the next increase is a rise from 20% to 30% for the basic PC payers?
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they will raise it to 30% as they already stated that 20% is only break even for them
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My bet would be 250k becomes 100k
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they have left the door open to 30% with the statement that they dont make anything from 20 %
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Pythia wasn`t a bad old stick to be fair...I guess he like almost all BF employees is squirming with embarrassment at what has happened to his firm.
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Not sure about that Duncan. I doubted something he said and he said he'd get back to me next monday.
That was 2 years ago. |
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It does seem very likely that it was an oversight of course.
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have patience Lori...
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My local greengrocer keeps putting the price of apples up?
What can I do about it? |
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Fruit industry experts say that the situation was so bad that growers across Europe have been ripping out their apple trees and converting to arable production instead.
. http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/7234496/Price-of-apples-to-rise-by-60-per-cent.html |
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Pythia works in the USA now. He sometimes posts on US Horse Racing if you want to catch him.
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Johnny
I guess you could go down there and accuse him of being a cheat and a liar and greedy beyond all comprehension. Or you could even look around for some cheaper apples somewhere else if you so partial to them and really need them for your very existence. Or you could even give up apples totally and try changing the way you eat. |
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Cheers RichWill
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i dont understand 2 things please feel free to comment if you think im wrong :
they say that they break even on 20 percent premium charge ... then how did the survive all those years when it didnt exist .... secondly they say they need to get new customers onto the site ... to seed the winners but to join betfair the offer is still only 25 quid to newbies ... but theyve always had that |
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The shrewdies are getting smsrter and greedier by the day perhaps ?
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Rs1, considering they already take on average 72% I think it's quite obvious they're not exactly struggling more a point of pricing certain sections off the exchange and pumping up that 72% off any that remain.
Betfair said 92 percent of its sports revenue was generated through its betting exchange, where customers set the odds for each other. On average, Betfair grabs about a 72 percent share of its customers’ gambling money, said Chief Executive Officer David Yu in a conference call with reporters. |
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from a livechat late last year:
Betfair Live Chat Joined: 07 Jun 00 Replies: 124 23 Sep 10 18:21 Hello Can you confirm or deny the rumours that you are to change the premium charge requirement to 25% instead of the current 20% You will understand that failure to address the question will of course only ignite further speculation. Yours Biscar Two from a mile back At present we have no plans to change it. ---------- clearly this raises the question: why would people believe them if they said the same thing again? |
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FAFH
I think I'll see if I can get together a focus group. We can then just guess at his outgoings when suggesting some cost savings he should make so he can then reduce the price of his apples. I could take legal action against him. Alternatively, I could just run flat out all the way to his shop. Maybe he'll reduce his prices as I've worked so hard to get there. I'll let you know how I get on. |
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At present doesn't mean in the future :)
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Standard politician bullsh1t answer, it means yes of course we are going to increase it but don't want to admit it just at this moment in time.
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yes. 2+ years after introducing it and 1+ year after tweaking it, things were okay enough for them to have no plans to change it. yet less than a year later they'd spotted it wasn't working, come up with a plan to change it, and got it to a point where they could announce and implement it.
personally, I'd believe them if they said "we will make no changes to the charging regime for a year" or something that specific. but amything with any wriggle room or vagueness, I'd completely discount. |
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Like it Johnny.
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Viva
Maybe their modelling abilities are not up to scratch ?. Maybe they're just about as good as those in the big investment bank mortgage bond departments ?. Oh sh!t we really could be in trouble now. |
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there acting like rip off merchants
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Lori
Date Joined: 20 Apr 04 Add contact | Send message When: 04 Jul 11 20:17 Joined: Date Joined: 20 Apr 04 | Topic/replies: 35,578 | Blogger: Lori's blog Still waiting GW! Fwiw I don't think they'll increase it, I think they'll lower the threshold. That is an increase! |
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I'm learning to talk betfairish
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Make as much money as possible before they lower it from £250,000 to 50 shekels!
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I would bet my life that they have a whole department whose sole job description is to find ways of getting more of their customers wallet.
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The 250,000 mark is solely aimed at those punters (or even cheats) who have been on here a LONG time and are successful with it .
It doesn't take a bright spark to work out that this type of gambler isn't going to lose overnight. Those who have made a living on here in a shorter more recent timeframe may well hit the rocks ,and to BF they would be worth a fortune in commission. BF have identified the former as definite loss making customers and i feel they will have no further desire to change this threshold radically but instead will wait for those who catch up with it . |
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Investor, as i mentioned i don't think it would be in their interest to lower it too far ....150 max imo .
Even modest winning gamblers would hit that target in 10- 15 years . |
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Will Betfair increase the PC in the future?
There was a time when the top rate of income tax (surtax) was circa 96%, I seem to remember. So, yes is the answer, its possible. |
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THEY WILL LOWER HOW MUCH YOUR ALLOWED TO WIN ,EVENTUALLY THEY WILL GET RID OF WHO THEY SEE A THREAT TO THEIR BUISNESS ,
A BUISNESS WITH SHAREHOLDERS WILL TRY AND GAIN THE MAXIMUM PROFITS FOR THEIR SHARE HOLDERS ,AND IF THAT MEANS GETTING RID OF CERTAIN WINNERS I THINK THEY WILL THATS MY OPINION ,AND IM ENTITLED TO IT,THIS IS ENGLAND |
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increasing from 20% to even 25% will catch a huge load of punters including myself and unlike some punters I'm not reliant on here whatsoever so would be off in a flash. In fact my betting turnover was 60% here about 7 years ago now its about 12%. Anyone serious about making money needs to open up their options and if BF is the only option they'll have to grin and bear it.
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