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I got an email from them today, regarding a charge structure relating to various forms of deposit/withdrawals. That is never nice to see but it is still free if you use debit card or only once a month with moneybookers, much like how pinnys operate, so it wont cost me anything.
The interesting part of the mail thought is this...
"As we strive to further lower our already industry low 2% commission rate..."
If they slash that down rate further, how do you feel it will impact the pre-events markets in general on here and why would people still use here pre-event with such a large difference (for most people) in comm rates, given that they have the exact same prices up, unlike the purple?
Any opinions?
The interesting part of the mail thought is this...
"As we strive to further lower our already industry low 2% commission rate..."
If they slash that down rate further, how do you feel it will impact the pre-events markets in general on here and why would people still use here pre-event with such a large difference (for most people) in comm rates, given that they have the exact same prices up, unlike the purple?
Any opinions?
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Like the rest of the competition they can chip away all they like but until they have a credible in-running product they have no chance of tipping the balance.
Charging people £10 to withdraw ther winnings is never going to be vote winner especially just before Cheltenham/Aintree when you'd expect to pick up some new accounts:)
as long as these new exchanges are chipping away your more likely to get a fairer deal here,nobody wants a monopoly.
smarkets
it is still possible to bet on Smarkets without being charged for depositing or withdrawing. As outlined above, debit card and bank transfer* transactions will be free of charge and there will be no limits on the number of times you can deposit or withdraw.
smarkets
it is still possible to bet on Smarkets without being charged for depositing or withdrawing. As outlined above, debit card and bank transfer* transactions will be free of charge and there will be no limits on the number of times you can deposit or withdraw.
how do they make money f they decrease the commission further
How do they make money?
- look at the numbers on the screen. They are moving in sync with betfair. Algorithms seem to be in place.
- I don't know how they will make money since I can't find the rules on each market (i.e. how many places when 8 runners goes to 7).
Also, I can't deal with any company that (if the poster is telling the truth) charges me a commission THEN charges to withdraw my net as I please.
- look at the numbers on the screen. They are moving in sync with betfair. Algorithms seem to be in place.
- I don't know how they will make money since I can't find the rules on each market (i.e. how many places when 8 runners goes to 7).
Also, I can't deal with any company that (if the poster is telling the truth) charges me a commission THEN charges to withdraw my net as I please.
Yes, I am telling the truth, it is all in their email.
As has already been mentioned, you do not get charges if you fund your account by debit card which is easy enough for most people.
If the comm rate becomes lets say, 1.5%...then compare that to here. Long-term that is one hell of a difference in charges to 5% on here. For me, that is a big deal to my p/l, so it must be to many others too.
As Steve said above, nobody wants a monopoly, so whilst I appreciate they are far from perfect, lets welcome new options surely.
As has already been mentioned, you do not get charges if you fund your account by debit card which is easy enough for most people.
If the comm rate becomes lets say, 1.5%...then compare that to here. Long-term that is one hell of a difference in charges to 5% on here. For me, that is a big deal to my p/l, so it must be to many others too.
As Steve said above, nobody wants a monopoly, so whilst I appreciate they are far from perfect, lets welcome new options surely.
I still remember 'Sporting Options & how they went bust. luckily of course Betfair bailed punters (Including me!) out. Always wary of firms offering low comm rates. If they go below 2% comm I would wonder how they could turn much of a profit!
doubt if there would be a bail out this time if it goes wrong.
doubt if there would be a bail out this time if it goes wrong.
Who owns the company?
For someone to bother to seed all their markets with nothing getting matched and a yearly turnover the same as a big event on bf.
Maybe big punters have a say in the company, imagine your own exchange where you make the rules.
For someone to bother to seed all their markets with nothing getting matched and a yearly turnover the same as a big event on bf.
Maybe big punters have a say in the company, imagine your own exchange where you make the rules.
Mar 7, 2012 -- 7:48PM, Lgboots wrote:
I still remember 'Sporting Options & how they went bust. luckily of course Betfair bailed punters (Including me!) out. Always wary of firms offering low comm rates. If they go below 2% comm I would wonder how they could turn much of a profit!doubt if there would be a bail out this time if it goes wrong.
I remember that (though was not with S.O.).
I doubt anything like that would happen in the future.
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