Is there a possibility to pay premium charge ''in advance''?

It wouldn't be that hard for them to deduct it after each market and then refund any excess come the Wednesday. The fact they seem to have little idea of the resentment retrospective charges cause says a lot. A division of buck teethed, snorting, ex-Eton, city twats imo.

thats enuf about their good points

It wouldn't be that hard for them to deduct it after each market and then refund any excess come the Wednesday. The fact they seem to have little idea of the resentment retrospective charges cause says a lot. A division of buck teethed, snorting, ex-Eton, city twats imo.

the longer i hold the money the better particularly on the last week of my betfair career 

There again charlatan, if you die after a bad week (or weeks) you'll have paid more pc than you were due. Another gem from bf's grave robbing division.

dump the charge due in your australian wallet on sunday night.

confident i'll hit the 62.5% before i die and them i'm offski. if i do die suddenly (that would be a bad week)  though i doubt the wife will be worried about a fiver while she tries to get her head around my complicated web of savings accounts.

restrictions include:

You will only be allowed to deposit a maximum of AUD$500 per month

source: http://kyc.betfair.com/

soo 500AUD pm?
Its not a solution for me

Feck N. Eejit , they are trialling this and I am one of the guinea pigs.  I've gone in blindly, asked few questions and only started within the last week so afraid I can tell you no more apart from any excess/shortfall is worked out every three months, not weekly.

I'd much rather just pay 20% commission - would be so much easier to manage my account then. A rebate (if applicable) on a Wednesday or once a month would be a much sweeter pill to swallow.

Ask them about it, dan33. I've heard that they are thinking about offering higher base commission and no PC for some accounts.

yes Feck, they're trialing exactly that, as Templeton says.

It seems utterly pointless to me though, you pay exactly the same, but just pay it SOONER. I'd actually rather have exactly the opposite: for them to take PC later, say every 3 months. Even though that would mean them taking a huge sum in one go, that would be way better imo.

What I'm far more interested in is the fact that Betfair will also be trialing more sophisticated security measures.

If they're deducting after each profitable market and only refunding the excess after 3 months they're going to p1ss even more people off particularly gamblers. They're that stupid maybe that's their intention.

Don't suppose the new security measures would include a secondary password that would prevent bf employees seeing what you're betting until after the event?

it took me about 4 hours to bang out an application that calculates premium charge due for the week in real time.

the solution, quite simply, should be real time visibility of what is due at any one time during the week and the option to pay it directly when you want during the week with any delta repaid or debited on sunday evening (NOT wednesday)

the idea that you pay it on every market with a subsequent three monthly rebate/correction is clumsy and stupid.

I think for the people that are trialing it, they will adjust every week (not every 3 months), the 3 months is just something I mentioned I would like (paying PC every 3 months)

Investor, Templeton says it's 3 months in his 16:16 post. He does say "excess/shortfall" but how could they take too little?

Yes, I've been told at the end of 3 months "there may be a small make up". 

Also, "we have lengthened the settlement period to 13 weeks which should lessen the affects of spikes".

They asked me, I pretty much said "yeah, whatever" and I guess I'll keep an eye on it. 

I really don't know how they're calculating it but I was asked nicely and so I agreed.

I must be missing something here because wont it be a pretty hefty 'make up' after 3 months?

I am presuming they have pitched the rate at a level that historically would be close to your 3 month premium charge payment ?

Oh yeah, you're right templeton.

The_E_Dead_Group
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21 Nov 12 21:44 Joined: 21 Jun 11 | Topic/replies: 412 | Blogger: The_E_Dead_Group's blog
Investor, Templeton says it's 3 months in his 16:16 post. He does say "excess/shortfall" but how could they take too little?

How it works is they up your commission rate to the point where you generate 40% commission. So that might be 3%, 4%, 5% etc. So if you suddenly start winning more consistently than the average Betfair have used to calculate your comm rate, you will pay too little.