General Betting
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16 Apr 12
19:56
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Date Joined:
24 Jan 12
hi #
according to records supplied by betfair, my net P+L figure is massively worse than the difference between total deposits and withdrawals over lifetime of my account.
how can this be?
according to records supplied by betfair, my net P+L figure is massively worse than the difference between total deposits and withdrawals over lifetime of my account.
how can this be?
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*£1000 worse
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*£1000 worse roughly. whereas my gross P+L figure is almost the same as diff between total deposits and total withdrawals
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casino, exchange games, poker?
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It should be:
Withdrawl+Deposit = balance + net P&L. And net P&L = Gross P&L + commission paid. (Note that in this form of the equations Withdrawl and comm paid would be expressed as a negative value). |
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no casino, games or poker at all
net P&L = Gross P&L + commission paid. that works but the commision is about 30% of net P&L, which seems alot also what is "balance" |
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30% is about right. Betfair claims the average is around 20% which is why premium charge is set at that level.
Balance is your current account balance. It's how much money you've still got on the site. Available balance + current liability = Account Balance. For example I've got about £20 balance, but most of that is tied up laying Man U for the title @ 4, so I won't be seeing a penny of it back! |
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Balance is how much money you have in your account?
About commission. Let's say you've only done 2 bets at even odds. First is for €10 and you won, second is for €9 and you lost. Bet 1. €10 gross - 5% commission = 9.50 net profit Bet 2. €9 loss. In this case your net P&L is 50 cents and your paid commission is also 50 cents. So 30% is not that bad lol Also, the difference between deposits-withdrawals and net P&L should be your balance then. |
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just to note i've never paid PC so 30% still about right?
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tied up laying Man U for the title @ 4
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Yes bob, the PC basically rounds people who've paid less than 20% up to the 20%.
The people who pay very little commission are those who always take green positions in markets, so their commission is much closer to 5%. These are the industrialists that PC is targetted against. You can see that "punters" rarely if ever pay PC, even the relatively successful ones. |
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To be sure of calculations I just checked
20%*Gross PL - Total charges = Max possible Premium Charge And then Available allowance - Max possible Premium Charge = Remaining allowance |
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net P&L = Gross P&L + commission paid.????
net P&L = Gross P&L minus commission paid surely? |
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"(Note that in this form of the equations Withdrawl and comm paid would be expressed as a negative value)."
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ror - most people pay 20% commission?
that means if you chase your losses then you'll never pay the pc ! now there's a thought for all them martian gayle nutters  a guaranteed winning system where you dont pay pc ! Bill Gates chasing a dollar - it works! |
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Most people pay much more than 20%.
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not read the thread, but if it hasn't been said already, Tote bets do not appear in your profit + loss figure.
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