from the revenues of the company via money deposited

that's interesting can you explain in a bit more detail. so if you add 20% to cover pc on your winning bet, who pays?

you have been here 4 days and posted 140 times

all on the same subject
have you had a bet in your 4 days on here

its not all doom and gloom for everyone just a chance for a better exchange for all.

FFS
Another one added to the block list

Exactly. It's like the LSE complaining that Deutsche Bank and UBS make too much money trading FTSE100 companies.

IT'S AN EXCHANGE!!!!!

I've said why many times Saint, you just don't agree with me.
Incidentally don't you find it interesting that there is now strong talk from the various financial exchanges about finding ways to limit and control the activities of the high frequency traders ( who now account for over 60% of the daily turnover on the stock exchanges and 30% on the futures mkts).
It might not be pricing mechanisms they will use, but definitely other artificial type restraints.
These traders are viewed as havibg an overall negative effect on the exchanges and so what do the powers that run and manage the exchanges do ?
Look for ways to force them to behave more to the benefit of all.
Any similarities to here perhaps ?.
After all you're the one looking for parallels between the financial exchanges and BF.

There actually now talking about many more controls over and above the surge algorithm control one.
Err shares are stocks aren't they ?

There is serious talk and discussion that ( God forbid) these HFTs may even be viewed as " gaming" the system.

Intriguing spelling mistake.

shares are stocks, well done, but he was referring to neither

and the point is about taking a 40% (or greater) cut from the successful members of the exchange

Betfair has today increased its premium commission rate from 20% of gross win to up to as much as 60% for 500 of its highest lifetime profit making customers calling the rise “fair compensation” for the service it provides.
Betfair first introduced a premium fee in September 2008 with the announcement made to customers last month that an “adjusted charge” would come into force on 18 July. Around 500 of its 3.8m members, who make as much as £250,000 lifetime profit and win at a consistent rate, will now see their commission rise to between 40% and 60%. Many of these professional players use automated systems known as software bots to increase their profits on the platform.
Under the previous commission rates Betfair said it could only break even, while the higher charges will see a “fairer level playing field”, according to a spokesman.
“We have evolved our pricing model to ensure we have a fair pricing structure in place for all of our customers, 99.9% of whom are not affected by this adjustment,” he said.
“Betfair believes that the implementation of the adjusted charge will provide the business with fair compensation for the service it provides to those impacted customers, who currently pay a rate of commissions and charges that does not reflect the benefit they gain from the Betfair ecosystem.

Anonymous
Right where do we start about this premium charge (re-appropriation charge as it was called in its inception but changed to premium charge – nicer for the media and client) issue?
Ok here goes - please understand Betfair have no interest in the winning professional anymore (they haven’t for a long time) but they don’t want to shout out ‘go away your barred’ after the 'Sharp minds Betfair' branding of past, they would look rather silly wouldn’t they, so what do they do? They say you can still bet with us but it’s now a 60% tax but the doors are still open. See we aren’t like those naughty men in trilby’s called bookmakers, we are nice people that you can bet with if you win! So it doesn’t affect those lovely brand values that the business was built on.
That way Betfair aren’t perceived to have the bookmaker bar winners attitude but in real terms a bookmaker would lay a winning account if he could get away with selling a real 10/1 shot to you at 4/1 (And no Betfair aren’t 60% better odds, they aren’t even 4% or less in some markets) but that’s for the form students and grafters on the charge. What about the bots etc.? Well the fact is Betfair don’t want bots as they have their own bot working called ‘bet matching logic’ so the mug punters can have a bet matched by guess who? No silly not the 60% taxed professional but the Betfair bot that runs at 0% commission and nicking the over round! (Yes, when they started this on the tennis markets it made £millions).
Don’t read this and be surprised Betfair is run by people now who don’t care nor have any interest in the consumer of its products – it’s a business that has lost the plot- IT’S NOW JUST THE SAME AS THE OTHERS but the others at least understand the game and don’t pretend to something they are not.
Betfair £6.12 today – utter disgrace - do you not think that it’s time to pull the chain on the business and get back those that made the business great with the right attitude rather than those that work in there now. Quite simply get Mark Davies as CEO back and get Andrew Black in as a active adviser plus a host of others that left and I am not talking about those that have featured in the self publicity pr of EGR pages.

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Oh so now I'm bf- fanatic( sorry bf-fananatic). Don't want to get the spelling wrong, do I. Most important on here it would seem.
Oh and you two just go ahead and draw all you nice little parallel lines between BF and the LSE or the NYSE or whatever exchange you wish to chose.
I'm sure all your trading skills on these exchanges have all been neatly transposed over to here and bob's your uncle. Money for rope.
And if and when we get a little liquidity problem, we'll just call up the BoE and/or the Fed and ask them to inject a  a few funds into the betting pool eh ?

Yes it certainly would be interesting to see what some of the "old guard" would be doing now to control the rapacious feeding habits of the super bots.

hi everyone, interesting comments and views, reckon big bossman was airing many other peoples views to show the fuller spectrum of opinions.

like I have said before if betfair didnt try its best to grow and expand and upgrade its services to meet the demand and control the army of winners that it has cultured and grown, then if they then went belly up everyone would be saying

" betfair should of charged the winners for using the system and spent more on expansion"

but we are not lucky enough to be running betfair so lets just let them get on with it!

heap big bossman take big bossman job at betfair and make heaps of big money, take from other braves, charge more and get bigger wigwam and many dancing squaws, then he go fight with big quack man over the water !

BF_Fantastic, but have Betfair  grown the business past the amount of mug money available to be won, are they just wanting to increase their profits by supplanting the existing non-mugs, or is it a mix of both?


I'm looking at this from a racing perspective, where there is a betting ring and in that ring there has always been a hard core of several hundred punters who as a group won off the bookies every year, but we never barred them for the simple reason that they actually created the market, as bookies like Betfair are in reality middle-men, providing a service for something that someone else is creating.

The PC will hit these punters who create the market, and for Betfairs long term business, which markets itself as 20% better odds this is a bigger danger than Betfair not making its expected win rate.

make me fly, good point , rather puts betfair in a position in-between a bookmaker and an exchange in that they are introducing measures to control the amount that is won, bookmakers simply ban winners, most big pro gamblers are banned from bookmakers businesses and have to use runners.

I cant say I feel too sorry for the guys that are getting rich on here and dont put any money into the the revenues, liquidity wont pay betfairs bills, betfair have to find money to pay for that.

its all a question of getting the balance right

BF_Fantastic, the big winners not paying enough are a problem for which I have no answer, but the Betfair business is based on real world punters who cannot be impacted by post win charges.

Thats the challenge for Betfair its actual business isnt based on the 500.

So are customer deposits into Betfair ring fenced, or protected in some way as has been stated in the past?  Or not?  If customer deposits are simply regarded as the revenues of Betfair it sounds like they are under no special protection at all.  It sounds like Betfair regards any deposit into Betfair as being Betfair's money

Trevh
Is " she" some form of sexist insult ?.
Or do you know something of BF fanantic's identity ?.
You keep referring to me as " he" yet you don't really know if that is correct.
Are you perhaps even a girl with a man's name ?
Finally does it matter at all ( unless it is meant as some sexist slur).
And knowing you from your past posts Trevh, if it was such an intended slur, then that would really surprise and disappoint me.
So let's hope not.

"It" will do ?.
Btw Trevh apologies for even thinking you would be a sexist beast.