General Betting
There is currently 1 person viewing this thread.
for a start you are all stupid.
They are not taking 40% to give to you, they are taking it for themselves, you are not suddenly going to be 40% richer because of this. In fact it makes it harder for you to win has there is 40% less in the pot to go around for all the idiots who champion the decision to increase the PC.
I am sure when the founders came up with the idea of betfair (charging 5%) they would have loved to know they would make 2 million each, well they made hundreds of millions each, and now the greedy bstards want more. Its the same as the gas companys, increase the prices for Joe public whilst making profits of billions, and pay themselves millions each year.
I bet on the very first horse race betfair put up, and championed them to anyone I knew, and all over the internet in the early days, received phone calls" could you put some money in this market to get us started", for this and for having the audacity to win 25000 a year I am now liable for 40%
Well Mr Black, and Mr Wray, I just thought I would let you know, I wouldnt piiss on you if you were on fire, you courted many many people when you needed them for your start, and you repay them with 40% surcharges.I couldnt sleep If I behaved like you, there again I realise everyone had different morals, and you can take solace in the fact that so many of you employes write in the forum what a great move the 40% is.
They are not taking 40% to give to you, they are taking it for themselves, you are not suddenly going to be 40% richer because of this. In fact it makes it harder for you to win has there is 40% less in the pot to go around for all the idiots who champion the decision to increase the PC.
I am sure when the founders came up with the idea of betfair (charging 5%) they would have loved to know they would make 2 million each, well they made hundreds of millions each, and now the greedy bstards want more. Its the same as the gas companys, increase the prices for Joe public whilst making profits of billions, and pay themselves millions each year.
I bet on the very first horse race betfair put up, and championed them to anyone I knew, and all over the internet in the early days, received phone calls" could you put some money in this market to get us started", for this and for having the audacity to win 25000 a year I am now liable for 40%
Well Mr Black, and Mr Wray, I just thought I would let you know, I wouldnt piiss on you if you were on fire, you courted many many people when you needed them for your start, and you repay them with 40% surcharges.I couldnt sleep If I behaved like you, there again I realise everyone had different morals, and you can take solace in the fact that so many of you employes write in the forum what a great move the 40% is.
sort by:
Show
per page
Replies: 176
|
By:
well said. Betfair is finished in due time.
|
|
By:
i got a email back in 2001 , from one of the ownerss, asking why i had stop betting with betfair (work got in the way)
I to, now think like you |
|
By:
I got an email in the early days asking why i wanted to withdraw some money.
|
|
By:
 |
|
By:
I have made a living here for over 6 years. It is in my interest for betfair to survive and prosper so I can continue to do so and I accept that they are in the best position to judge for themselves what business decisions to take.
Objectively I can see the logic behind the pc and some of the potential reasons for it being developed into pc2. That makes me stupid? Would I not be more stupid if I ranted on about how the founders of the company owed me some kind of perpetual comfort zone because I was a customer at the outset? |
|
By:
Of shame that any other should coil its tail and taste the air the same as your sweet self but are we not all vipers from the same bosom, but betfairs gain is too secure "fair" in betting and yours to cherish personal gain, which shall win and win some more, oh time will tell.
|
|
By:
well god help you in the next 6 years, you were a bit slow coming to the party in the first place, I think you will struggle has it gets harder
|
|
By:
applying a brake on other competitors yields in profits will have no effect on me and sustain the exchange model, a critical mechanism and one that may have an advantage to some players prospects
if one evaluates the bigger picture post pc2! |
|
By:
Yep I will probably regret to the end of my days that I didn't get onto BF earlier and made a fortune before anybody sussed out what I was doing.
That part of your post Coner is most definitely not in dispute by me. |
|
By:
so the very people like coner,who have helped make betfair what it is ,are right to be anally abused by the new breed of greasy oiks now operating from the towers?
Ffs,in any other walk of life you would spit on the people who would do such a thing as they walk past you in the street,you're asking betfairs customers to pay for the lube n all. Its a fcukin disgrace,plain and simple. |
|
By:
never waste time on regret, put your energies into securing an edge in the present, theres still plenty out there, if you're good enough, you gotta be good though nowdays
|
|
By:
in respect to Patricks post to coners post in respect to coner, so how much praise do betfair ask from you? none, just the nice feeling your bank accounts get through using there business, and how much praise do you want coner or expect for using them, perhaps your profits should and are enough!
There isnt much pity in a smaller treasure chest, the ship needs payments jim lad, ask any captain! |
|
By:
Brilliant opening post by CONER.
|
|
By:
this is where you are deluded, the chest gets smaller for ALL punters, not just the winners, betfair are taking 40% and filling their own chest,they are not going to give you 40% of your losses back they are going to pay themselves 40% more and their shareholders in dividends, if your a loser you will still be a loser. THere are many ways to win on betfair, if you bffanatic are not good enough to do so, that in itself is not shameful, what is shameful is the envy you convey and ill will towards winners
I have sometimes worked 80 hours a week trawling the bookies shops and then laying on betfair, and now if results go against me betfair want 40% which I havnt won, because I have lost in the bookies and won in betfair. I think you have a poor understanding on how best to use betfair, and you inabilty lends to resentment |
|
By:
I have no resentment, your device for profit may be flawed or are you the gaurdian angel of your own divinity,open your eyes brother for there is much that still glistens!
|
|
By:
yes and its hopefully your money each week, Good night
|
|
By:
good answer, good nite
|
|
By:
anyone who pays PC is a very lucky person with a gift
|
|
By:
yep, and of equal use to both themselves and betfair, an aspiration to all concerned but not the bookies(hee, hee)
|
|
By:
I spent 1000's of hours for free helping betfair.I helped seed the markets on flutter and here in the early days on the foreign racing markets
and it took up a lot of my time.I bet more expecting my commision to be reduced.What happened in fact was I ended up been cornered and stuck with a hefty premium charge.I must admit I am losing more faith ever day although I still support the idea of a betting exchange. It's very sad.I predict the future is very uncertain. |
|
By:
well go away and help raise the premium charge on other sites then
 |
|
By:
Coner the pc is a wonderful thing especially the first IBM ones that came out in 70s that weighed about 40 stone because when there dropped out of a window 5 storeys high on to your head they make a wonderful noise, yes the pc is a wonderful thing!
|
|
By:
BF fanatic why don't you, if you think the PC is so great and obviously you don't pay it, next time you have a bet, rather than take $10 that is offered ask for a price of $4 instead.
Because that is what the premium charge does to your profit so how about whenever you post a bet reduce the current asking price by 60% and accept the lower odds????? Does that sound like a wonderfull thing now??? Or next time you go shopping once you pay for all your groceries, throw 60% of them in the bin when you get into the car park. |
|
By:
I agree with GCI....this is just another example of corporate greed...
|
|
By:
That's nonsense, GCI.
|
|
By:
Don't be so naive!
Too many on here are wrapped up in their own world and seem to have little idea how the real business world works outside their front door :- -Business edge does not last forever - Adapt or Die -The Board have a duty to maximise business profits for the benefit of the shareholders (not the customers). -All businesses seek to increase prices especially to customers who need their services the most - (corporate greed is everywhere - it's exactly why some of you are so angry) You may not agree that the PC will be in the best long term interests of the company , but frankly, your opinion doesn't count - the Board's decisions are the only ones that matter, and they are the ones who will pay the price if they are proved to be wrong. They clearly believe that the custom of the big winners is not worth as much to the company as the big winners believe themselves. |
|
By:
The most baffling thing about PC2 is how it is biased against long time customers. The longer you have been a customer, the more likely you are to be affected. They could have set the limit at £xxx,xxx/past y years, so that if you have been a customer for longer than y years that doesn't count against you? Oh, and I am not saying this out of self interest, as I have only been around for a couple of years myself.
|
|
By:
It is, y=15.
|
|
By:
At last, some realistic posts looking at the last 3 posts, Johnnys is right on the money, cat suffers fools poorly and Mr Anderson still is in the "were being punished" brigade.
other and mentioned above typical forum post groups in relation to pc are 1....(recreational punters unaffected by any pc but wanting to be heard in the crowd brigade) 2....(spitting dummy out brigade) 3....(vile and offensive brigade) 4....(clever punters who quietly understand the reason for pc2 but agree with the few that moan on here of out of over 3 million total bf users) 5....(few clever punters that openly debate the pc2 and evaluate it) 6....Very few who commend betfair for addressing the imbalance caused by a growing hard-core of punters taking more out of losers and betfair at a faster than growth of market rate group) (thats me and a few others) of course type 6 group in the eyes of other groups will appear to be the only pro betfair group when this has not been the case for all these years and will be accused of working for the company along with suffering all manner of abuse and torment. of all the above groups only 1 in 6,000 will actually be paying any pc2 charge and very few of them are actually complaining as they knew the system cant continually pay profits out at the rates they maintain and a revision of the charging structure beyond pc 1 was on the cards! |
|
By:
mr bf ... Johnny is right, you aren't.
Johnny points out that the only decisions that matter to Bf are those of the Board. He hasn't stated, unlike you, that PC is the most brilliant business decision ever and this is justified by the need to grow and keep a profitable exchange. He has talked about: "maximizing profits for the shareholders" ... which is exactly what the PC is all about: taking away the money from customers. Just like Coca-Cola, Pepsi and many other businesses do. The problem is the corporate bs propaganda that you sell, not the reality itself. |
|
By:
BF_fantastic, a mate of mine who is in stocks, never bets, summed up the companies future this way, its been taken over by bureacrat's.
|
|
By:
Then why did the exiting MD highlight the problem of dwindling revenues, the effect this has on the exchange model and the interpretation by the main share investment advisors of a "mature business model", if there is any improved performance of shares in market then this will be because of addressing the understood problem , if you want to call it profits then your learning something, well done
|
|
By:
interesting comment make me fly
|
|
By:
With still over 3 million punters, some of them making a substantial living perhaps the argument that betfair has been taken over by the real profiteers of the company,customers and stock brokers and betfair have a lesser worth prospectus without a change to top customers changes is more the case
|
|
By:
The betfair exchange system has just been to damn good to the customer, thats been its main selling point to customers, spreading the profits evenly is now a corporate and customer ideal and is actually "fair", who owns betfair, the top 500 customers or betfair and its shareholders?
|
|
By:
May i politely suggest Mr BF, that perhaps instead of wasting your time defending the decisions of Betfair's Bosses who are on a mere £1.6million a year. Why not put that time into developing a betting strategy that may get you into contention of paying at least PC1.
Or if that doesn't appeal to you, why not go out and enjoy this lovely sunny July day. I'm sure Stephen Morana and co are doing just that, while the rest of us parasites are trying to ply a trade. |
|
By:
This is one of the primary reasons LMAX won't succeed.
I know of a handful of people who were asked to provide liquidity. None of them will. The idea that you divert money and time into a project where if unsuccessful you lose money and if successful your profit gets cut at the earliest opportunity really makes it a no brainer. Add to that the fact that you'd be competing with Goldman Sachs and Optiver. Goldman also owns a part. Make as much money as you can in the short term, because God knows what this platform will look like in a couple of years. |
|
By:
I bet on the very first horse race betfair put up, and championed them to anyone I knew, and all over the internet in the early days, received phone calls" could you put some money in this market to get us started", for this and for having the audacity to win 25000 a year I am now liable for 40%
---------- there is a real, central iniquity here imo. imagine 2 punters: punter 1 bets with BF from day 1, and makes 25K a year. punter 2 bets with BF from 2008 and makes 25K a year. so who do BF go after for more money? the person who did nothing for them in the early days when they desperately needed people to make the exchange work and evangelise for them. in fact, punter 2 could have made twice as much per year as punter 1 and still receive preferential treatment for not having done anything for them in the early days. to me that speaks to corporate arrogance. |
|
By:
So with your big intellect you think its better to take more off guy 2 that has made nearly 4 times less than guy 1, only fools look at there shadow at the end of the day and think they are as tall as the gods, and this ain't the end of the day, certainly not for betfair or the army that follows it
Mr President |