General Betting
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If you qualify for the 40% premium charge by reaching over £260,000, then in week 1 you win £2000 and generate £200 in charges. I am pretty sure you pay £600 charge (£2000 x 40% = £800 - £200 = £600)
My question is say in:
week 2 you lose £1000.
Week 3 win £1000 and generate £100 in charges.
Week 4: lose £1000.
Week 5: same as week 3.
Week 6: same as week 4.
And follow the same pattern for 52 weeks. So after one year your gross profits are £1000 without premium charge.
Would you have to pay 40% of profits meaning £400. Or would you pay 40% of the 26 winning weeks meaning 26 x £300 = £7800.
Therefore after making £1000 profit over 52 weeks, Betfair take £7800 giving you a loss of £6800.
Can someone clarify the premium charges rules as it can get very confusing.
My question is say in:
week 2 you lose £1000.
Week 3 win £1000 and generate £100 in charges.
Week 4: lose £1000.
Week 5: same as week 3.
Week 6: same as week 4.
And follow the same pattern for 52 weeks. So after one year your gross profits are £1000 without premium charge.
Would you have to pay 40% of profits meaning £400. Or would you pay 40% of the 26 winning weeks meaning 26 x £300 = £7800.
Therefore after making £1000 profit over 52 weeks, Betfair take £7800 giving you a loss of £6800.
Can someone clarify the premium charges rules as it can get very confusing.
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Replies: 13
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Betfair effectively top up your comm generated to 40% once you hit 250K limit. Haven't gone thru the calcs nut it's likely your win\loss sequence would put you over the 40% and therefore no 40% PC due for the following weeks until you go under the overall 40% again
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you would pay £600 in week 1 and nothing in any of the other weeks
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If you qualify for the 40% premium charge by reaching over £260,000, then in week 1 you win £2000 and generate £200 in charges. I am pretty sure you pay £600 charge (£2000 x 40% = £800 - £200 = £600)
Correct. My question is say in: week 2 you lose £1000. Week 3 win £1000 and generate £100 in charges. Week 4: lose £1000. Week 5: same as week 3. Week 6: same as week 4. In this case you wouldn't pay anything more in PC. |
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Thanks everyone I understand it now. That seems fair, the premium charge is not that bad. If you are lucky enough to be in a position to pay it.
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You think it's fair and not that bad just because you wont pay anything in a year you break even ???????
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Its 40% of profits. I pay 30% without the charge, an extra 10% wouldn't hurt if I made it to £250,000
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in the same way that lying on a bed of needles wouldn't hurt
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You're doing something right if you're paying the premium charge. From what I understand it's for people using bots who put a lot of requests to the site, they make small profits, all the time and put a lot of strain on the website, hence the charge. But I may be wrong there...
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skribr, you are very wrong. I've been paying the standard premium charge for quite some time. Some time this year I'll be paying their 40%-60% higher charge.
I don't use bots, I don't use any software of any kind. Every bet I put on is me pressing the number buttons on my PC's keyboard. I don't have fast pics, I don't go on course/courtside; I don't send people around the world to do that; and so on. I'm not doing anything the £2 punter doesn't do. I just work hard. |
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The premium charge actually favours botters over manual players. If you're betting manually you will spend your time betting on your most profitable markets and if it's not worth your time being at the computer you stop betting. Bots can work on any profitable market and multiple markets at the same time, which means their generated commission is naturally higher and they can use commission generating strategies more easily.
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When does 40%/60% pc strart,is it £250K net after all deductions (comm + pc) ?
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Yes , it's after deducting both commission paid and any PC paid.
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Thanks Eddie.
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