General Betting
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05 Jul 11
13:17
Joined:
Date Joined:
10 Jan 02
The magician has been told the rate is for life and will only be revised if your winnings fall below 250K. This means a parasite/cheat who won millions and took measures to raise his commission generated figure to lessen the impact of the 20% pc will pay less FOR LIFE than a parasite/cheat who won 250K over the same time period and didn't adopt pc evasion tactics. The difference might only be 5.01% versus 4.99%.
Anyone who reads this forum knows that my solution to this problem would be to remove parasites and cheats altogether but FFS this is like hanging the Hitler youth while jailing the SS.
Anyone who reads this forum knows that my solution to this problem would be to remove parasites and cheats altogether but FFS this is like hanging the Hitler youth while jailing the SS.
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Where is the incentive for parasites and cheats to supply a bit of liquidity while leeching / cheating? I urge betfair's "boffins" to think again and look at
The all new liquidity generating Premium Charge = (GrossProfit - 5 * CommissionGenerated) / x.
x could be as low as they want.
The all new liquidity generating Premium Charge = (GrossProfit - 5 * CommissionGenerated) / x.
x could be as low as they want.
but in any case >= 0 (incidentally if someone at Betfair found out that X / 0 = infinite they may decide to settle for a 0)
still banging that tired little drum, then.
maybe they'll fish it out of the bin and "look at it"
maybe they'll fish it out of the bin and "look at it"
spot on feck - only on betfair does life mean life - it means betfair are now totally BETUNFAIR
The only good thing to come out of this is that it is now more profitable to teach others to be ferungi than be one yourself.
The only good thing to come out of this is that it is now more profitable to teach others to be ferungi than be one yourself.
viv, the fact you think betfair's drunk inland revenue worker type formula to be made of more logical stuff suggests you're not only a bit daft but you're in awe of THEY as well. Do you doff your cap when the local bank manager goes by?
Feck...isn`t the implication then that your dreaded trader types are indeed thoroughly welcome here ?
After all this monster evolved from the City why would thay be capable of any other way of thinking.
The cheating element (not the traders) could be wiped out overnight...Betfair prefer to sit still and encourage it.
Only they know their reasoning.
After all this monster evolved from the City why would thay be capable of any other way of thinking.
The cheating element (not the traders) could be wiped out overnight...Betfair prefer to sit still and encourage it.
Only they know their reasoning.
At least that clarifies things. I was wondering if they actually wanted to incentivise me to get my commission ratio down. Obviously not.
Bit of a relief. Was going to be difficult.
Bit of a relief. Was going to be difficult.
The rate is not set in stone and can be changed depending on the amount of commission you have generated over the lifetime of the account
Thanks, but I'll go with what Betfair are actually saying.
This is what they sent me today Weatherman. So there seems to be some confusion
Dear
Thank you for your e-mail.
You are correct that your Premium Charge rate is not set in stone and can be changed depending on the amount of commission you have generated over the lifetime of the account as shown in the previous email.
Please do not hesitate to contact us if you have any further enquiries.
Kind regards,
Dear
Thank you for your e-mail.
You are correct that your Premium Charge rate is not set in stone and can be changed depending on the amount of commission you have generated over the lifetime of the account as shown in the previous email.
Please do not hesitate to contact us if you have any further enquiries.
Kind regards,
Surely not! Confusion????
From Betfair about the Premium Charge?
From Betfair about the Premium Charge?
Assuming my PC is being treated like JF's rather than the Magician's...
...can someone write me a bot? I have a clear idea of the strategy. Can't find anything off the shelf that can do it, though.
...can someone write me a bot? I have a clear idea of the strategy. Can't find anything off the shelf that can do it, though.
Can anyone copy and paste an email or announcement from Betfair that actually says this?
Cheers.
Cheers.
60
or
0
Depending on whether I keep going. I have another idea.
Would pay for a bot though.
or
0
Depending on whether I keep going. I have another idea.
Would pay for a bot though.
Any chance of parole or early release for good behavior ?
Surely it's only for 'Life' for one year then it'll be 'Life+(20-40%)'
Magician has just emailed me and said he's not sure the guy who spoke to knew the score. He's going into betfair on Thursday and will get back to me then. Strange that no one from betfair wants to come on the forum and clear the situation up. I suspect they don't know themselves.
Sounds clear in the rules to me:
If you satisfy the conditions set out above on 20th June 2011, your lifetime commission generated to gross profits ratio on that date will be used to determine the Premium Charge rate that will be applied to your betting thereafter.
Even if they do backtrack I see avoidance as a major issue going forward. Imagine someone who has won £20m over the last 11 years only generating 4% commission (£800k). They are now facing a £7.2m deficit to get up to 40% and not have to pay the premium charge. That is a massive incentive to work with big losers or 'train' people who have new accounts.
If you satisfy the conditions set out above on 20th June 2011, your lifetime commission generated to gross profits ratio on that date will be used to determine the Premium Charge rate that will be applied to your betting thereafter.
Even if they do backtrack I see avoidance as a major issue going forward. Imagine someone who has won £20m over the last 11 years only generating 4% commission (£800k). They are now facing a £7.2m deficit to get up to 40% and not have to pay the premium charge. That is a massive incentive to work with big losers or 'train' people who have new accounts.
it just seems inevitable to me that at some point BF will link two accounts for PC purposes and someone will go to law over it.
So the Magician is banned from posting but he's having a meeting with Betfair
My information is that you can move up and down through the bands. I will find out for certain tomorrow, hopefully.
It would be, quite frankly, nuts if you couldn't because it is a huge incentive to supply breakeven, or even losing, liquidity. Clearly they will have to have some safeguards against any shenanigans.
It would be, quite frankly, nuts if you couldn't because it is a huge incentive to supply breakeven, or even losing, liquidity. Clearly they will have to have some safeguards against any shenanigans.
So far that is my information as well Bayes, although once again I am hoping to get it confirmed tomorrow. The fact that everyone's confirmation appears to have been put off is a little worrying and does suggest there is more than a little "making it up as we go along" at work here.
Even if you can move up and down where's the incentive for gamblers to supply liquidity beyond 10%? It would take me a long time for my comm'n generated to drop that far. I'd be as well just concentrating on my better value bets as it's less work. Even if my commission rate goes from 2% to 5% it no longer makes any great difference to me.
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