General Betting
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Premium Charge - Average £10K a month profit
Premium Charge - Average £10K a month profit
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Replies: 63
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mark my words if laddies get the quack into shape re in running and many bigger players move over to save the pc they pay betfair will risk alienating them and they could be in big big trouble
SCOM - MEDIA don;t care about gambling at all |
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.is a 10 yr spell to win 250k realistic?? it's only 500 a week??
I agree. This is probably the most unfair aspect of PC. This crude 250k limit should be replaced by a moving average of profit criterion. So someone who used to earn Ks/month several years ago, but is now struggling to make anything, should be PC exempt. Whereas anyone who quickly starts to earn a lot should be PC liable. Unforunately, though, this sort of measure would almost certainly result in a reduction of overall PC revenues to Betfair, and so would never be adopted by them. |
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surely an ad campaign by laddies/quack along the lines of ''WE WONT TAKE 40-60% OF YOUR WINNINGS'' wont go amiss
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Contrarian - you also forgot about the other important factor. It involves more work.
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Indeed I am probably in a minority of one, in so far as Betfair were calculating premium charge incorrectly, and it's down to my intervention that got them to admit (to me) this was the case and recalculate it.
i think i did that. or at least i got them to surreptitiously change the wording on their charges page to fit with the way they were actually calculating it without any acknowledgement that they had done so. (so i didn't get an admission.) |
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once the company was floated all aspects of fairness will come second to profit & share price
i'm not expecting any relaxation in pc overall unless there is a radical change in the competition, i can only envisage it getting tighter if they struggle to deliver growth (current job losses and other changes internally are probably enough of a hint that the pressure is coming already) |
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There already is a radical change in the competition - by the end of 2013 L adb rokes will be a serious competitor and have the finances to wipe Betfair out imo
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i just hope laddies are fully committed to the exchange side of the business
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I think in the short term they are.Their plan is all geared to go "live" as Laddies betting exchange in January 2014 but a lot of work and finance will be put into developing things this year so that they can attract the business away from Betfair.
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it isn't a radical change, lads purchase of daq is to suit their own requirements, nothing has changed in the short term, long term might be years not months
look at all of these people paying pc who are still here, why do you think they have yet to move? what do you think is going to happen to move them when some are already being taken for 60% on a weds? |
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So you think Betfair can just continue along with no changes to charges and their customers will stay loyal ?
They have not moved because bet quack was not a viable option but believe me Laddies are a different proposition. |
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i think that whilst the old school have an edge and they can still win and pay then yes i think they will still be here, if bf hike charges again we'll all complain and a few will go, but until there is an massed movement of key accounts it isn't going to make a rats ass difference
we are all still here, what's stopping us going right now? |
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In-running on horse racing massively declining (despite what the figures say) because a lot of players have gone skint. No new players being attracted to the in-running because everyone now knows there is a queue to see the action , beginning at the tracks and ending on ATR with a few layers in-between.
Elise is probably right that some will stay whatever Bet"fair" do BUT who will they play against to generate commission for Bet"fair" ? Only sharks left who are slowly killing each other off and killing the product for Betfair. End result will be a few fat sharks and Betfair with money bulging out of their pockets but no product going forward. Iwould love to know Bet"fair"s five year plan because I suspect in-running on horse racing might not be critical to their portfolio. No matter what way you dress up the numbers PC started a terminal decline for in-running horse racing with the money being taken out of the middle to satisfy Bet"fair" shareholders. |
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^ pretty much agree with that. PC was a massive own goal, in-running horse racing becoming devoid of liquidity. After eating the small punters the sharks left are slowly killing each other, and as you rightly say they are also killing the product for betfair. So very limited growth prospects.
Flotation went wrong with a dismal performance of the company's shares. Also floated at a bad time and over-valued. And now putting shareholders over customers and losing valuable customers. They need to get it right and listen to customer concerns, and stop kicking own goals. They still have a virtual monopoly on the betting exchange market - even with laddies taking B D** - they are still way out in front, although purple could become a realistic competitor but they are miles away at present. |
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viva el presidente!
24 Mar 13 03:46 [...] b) if you're making 10K a month you should nevertheless be able to figure it out. Contrarian2 25 Mar 13 18:17 [...] although I would assume that anyone bright enough to be paying 60% PC in the first place ought to be able to work out that a little bit of (artificially induced) volatility would do wonders for their PC bill (and eventually shift them down to 50/40%. You'd be surprised  |
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I think what viva said is spot on. The simple answer for someone earning £10k a month is a.) Learn to read, b.) go to the premium charge bit of the website and read it.
I would personally be surprised if someone in this situation wasn't able to find the charges section of the website read it and understand it. |
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Love all the forum posters who know how to get around PC but want to keep it a secret
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I'm comparing all of this figures and...subject of this topic need to be changed on a new one " How tofind an idiot who will pay all of this charges and be a courtsider then? Would you agree with me?
P.S Happy Easter btw |
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It always me smile when people talk about betfair putting shareholders first and customers second. Given the performance of their shares I certainly pity anyone else in the queue.
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Since becoming a 50% PC payer, what I think of as my effective rate has been 49.5% of gross profits (profit minus commission). So if I earn £10,000 in a month, I'd expect my net income to be £5,050.
However, it really depends on how your £10,000 has been achieved. As someone alluded to, if you earn £20,000 over weeks 1 and 2 but lose £10,000 during weeks 3 and 4, you'll probably be left with £0 net income over the month. That's right, you can earn £10,000 during a month and have it all taken away as PC. It's a crazy system. |
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it's also crazy to focus on just the very unlikely negative case as you can also earn 10.000 during a month and have nothing taken away
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Yes, you can have a month with nothing taken away.
I wouldn't say I focussed on the scenario of being a new loser. I clearly set out how it effects me before mentioning my extreme example. |
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I meant to say "a net loser".
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DOUBLED 27 Mar 13 15:03
Love all the forum posters who know how to get around PC but want to keep it a secret __________ they are usually non PC payers as well |