General Betting
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13 Jul 11
22:14
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Date Joined:
17 Sep 02
After reading around, I have just one question.
With the new PC charge, is it now 'Lifetime Commission Generated' as a proportion of 'Gross PL' that determines whether/how much you pay for that week?
And will the charge be (40%/50%/60% of Gross PL) - Commission Generated?
In other words, is 'Total Charges' (i.e. Commission + Other + PC) now redundant for the new PC?
With the new PC charge, is it now 'Lifetime Commission Generated' as a proportion of 'Gross PL' that determines whether/how much you pay for that week?
And will the charge be (40%/50%/60% of Gross PL) - Commission Generated?
In other words, is 'Total Charges' (i.e. Commission + Other + PC) now redundant for the new PC?
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The 'Other Charges' are not taken into account for the latest premium charge, Betfair told me.
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To my knowledge and understanding, commission generated = actual+implied charges.
Correct or incorrect? Anyone ? |
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Or are you talking about something else alltogether, like data charges or something like that ?
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The commission bit is ( Commission paid + Implied commission ) / 2, just like the old PC
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Thought so Mr Magoo.
Nice to have it confirmed though by someone who has actually bothered to talk to BF about it. Bit too thorough an approach for most of us on here it would seem. |
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I'm just asking whether PC already paid will be used when calculating PC to be paid for the current week. At present:
Each week the customers who meet all the conditions set out above will be charged the lesser of: The difference between 20%† of the previous week’s gross profits and the total charges generated during the week; and The difference between 20%† of gross profits and the total charges generated during the lifetime of the account. In future, will it be the same as above but 40%/50%/60% replacing the 20%, or will they also be replacing 'total charges' with 'commission generated'? |
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Mr Magoo
13 Jul 11 22:47 Joined: 28 Mar 05 | Topic/replies: 496 | Blogger: Mr Magoo's blog The 'Other Charges' are not taken into account for the latest premium charge, Betfair told me. 'Other Charges' aren't the same as 'Premium Charges (exc. last week)'. Do you know if both are not taken into account? |
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I don't know the answer to that. The system would have to take into account the PC charges paid in the past though, because otherwise you would forever be paying for previous weeks.
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Exactly, that's what had me concerned. I've just re-read their t+c and it seems to suggest it's only commission generated when calculating the % rate you incur but the amount you pay is calculated in the normal way (i.e. 40% or 50% or 60% of Gross Profit - Total Charges).
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Templeton, it works exactly the same as the old pc (you just swap 20% with 40/50/60 as applicable to you). I wondered this too, and reading through the betfair charges put my mind to rest:
http://sports.betfair.com/aboutUs/Betfair.Charges/ quote: The amount of Premium Charge incurred by each customer will be calculated in exactly the same way as the standard Premium Charge with the exception that the standard 20% rate will be replaced with increased rate applicable to the individual in each case. BTW, I have printed this page out and emailed myself the html etc... call me paranoid lol. |
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If one was to attempt to Churn his way out of PC2 (band 60%), would he have to generate 60% instead of the old 20% of profits to successfully avoid this Super Duper Tax?
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"Mr Magoo:
The commission bit is ( Commission paid + Implied commission ) / 2, just like the old PC" I was just wondering about this the other day. So if you were to be the worlds greatest gambler, win 250k and never lose, and paid 5% commission on it, then betfair would treat this as only 2.5% commission for the purposes of this? Correct? Oh that's interesting, searching for this even the grauniad has run a couple articles on it. A grauniad poster refers to the betfair forums as a 'cesspool'. I don't want to be cess!  |
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jme, yes.
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no point printing it out and emailing it to yourself getafix. they made an error in the wording when they first introduced the pc and simply changed it to what they had intended without any announcement.
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