General Betting
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THE PREMIUM CHARGE MUST BE SCRAPPED
THE PREMIUM CHARGE MUST BE SCRAPPED
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Replies: 2,082
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I don't know why bf cannot increase the charging period from a week to say a month. This would help to stop people paying PC on winnings which they lose the next week, often before the PC has even been taken. Obviously some kind of rebate system would be even better.
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12% adjusted revenue increase announced for Q1. Going down the pan.
On India, I would guess they bet probably double the UK betting volume in a year. You should read Bookie, Gambler, Fixer, Spy. Not the best written book but I found no reason to doubt the majority of claims. The bit about spot fixing is especially interesting if you bet cricket markets. |
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Also, Westender, if your local pub takes 1,000 customer in a week and they put the price of your pint up to £40, 9 people to £20 and the rest pay the same price, do you think the other 990 people would care and stop going? Or if every week you found so much change on the floor that you left with £60 for every pint, would the careless people whose change you were taking be sad to see you stop frequenting the establishment?
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Liquidity is dire Betfair should at least throw premium charge payers a bone and things might pick up
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Gruss forum discussion page- pc topic quite amusing
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yes it's worth a look http://www.gruss-software.co.uk/forum/viewtopic.php?f=3&t=8562
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This post is from December 2013, I'm a slow reader ;-)
"Market makers put many hours of research into creating / establishing the markets with liquidity; whereas the bots just feed of that hard work and yet stil pay the same P/C rates, (other than requests of course)." Bots can be massively demanding of time and require intellect equal to other approaches to getting on. Anyone with any doubt this should try writing one themselves. The means to create bots provides ordinary punters with an extraordinary level of flexibility. |
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Have to agree that market makers should be rewarded for seeding,without them you have nothing,i´m not sure arbers,traders or bot users should receive much assistance,with that said, i do believe the PC is unethical,lets face it,real professionals bet on the Asians!!
Betfair spent the early years gaining traction,upping the numbers,then came the leveraging through the additition of parallels,last but not least came the dismantling,moving away from roots in order to increase profits,Betfairs share price would suggest they failed,in becoming just another gaming company they lost focus! |
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Anyone willing to offer a price that the Premium Charge as we know it will be dead and buried by the end of 2015???
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1 in 1000 -easiest 1 dollar made sadly
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It won't go away but desperately needs changes.The starting points for the various payments are a bit like the stamp duty on houses,in need of a fundamental change.Only thing is,any changes are likely to be with a view to increasing profits.Would expect changes sooner rather than later but am not expecting good news.
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Yep, no chance. As long as major events/main markets see good liquidity, there's something for them to Price Rush for mug punters to then Cash Out.
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the 250k threshold for at least 40% gets more ridiculous every year
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I'll lay you evans Frog.
The altrnative is flawed. |
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Evens! Q100 offered 1000/1.
Charging on withdrawing money (for the old premium charge payers) is flawed in terms of keeping up quarterly earnings. In terms of boosting liquidity for the exchange and the sportsbook it is a genius idea. I guess it just depends how long the current CEO is in power for. Will the change pay off in time for him to get his golden handshake? |
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Charging on withdrawing money seems a much better idea than
what I was thinking of. |
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The reality is if the PC players were charged 40-60% on taking money out of the system liquidity would explode. There is only a certain amount of money people need to take out to live off.
The idea of being able to roll up profits 'tax free' would surely lead to a massive boost in liquidity. Remember the PC was designed to stop people taking too much out of the system too quickly not to tax them so hard they either just churned the main markets or gave up. If the money stays in Betfair its a win/win for the exchange, the punters and the sportsbook. |
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BTW evens is no longer available.
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How come?
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But most of the PC payers are traders who don't win that much,
and probably already play to their maximums. |
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I know they are keen on changing the PC,and your idea is much
better than the one I've received from HQ. |
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Not sure I agree with charging on withdrawing. Its PR slogan might as well be "winners not welcome".
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JML 08 Dec 14 21:58 Joined: 10 May 05 | Topic/replies: 714 | Blogger: JML's blog
I know they are keen on changing the PC,and your idea is much better than the one I've received from HQ. What have they proposed? |
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So the Premium Charge hasn't been scrapped, and Betfair exchange is still here? Who'd have thought.
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Gave up betting on this site since I became a PC customer, miss it for weeks like this, having money in the account and dabbling with Cheltenham adding some mug money to those markets. Could bet on daq but never have money there, no liquidity in markets I play.
Cheers betfair. |
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Do the high rate premium payers benefit the 20% payers more than if there was no premium charge for the 20%ers ?
If the high raters leave the site then the field should become less competitive right ? |
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We now see a plethora of empty boxes in most markets on a daily basis with Bot prices not even being nibbled.
Can only be a matter of time before the Bots get bored and switch off. |
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The Premium Charge definitely needs to be scrapped before a week on Wednesday because as of today I am paying it on profits earned, finally been caught in the net
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Betfair need to throw exchange users a bone. They don't seem to understand winners on here have costs beyond the premium charge, so eventually as the game gets harder and harder and profits go down it becomes not worth carrying on. Or perhaps quiet days are harder so they skip the hard days and the liquidity issue gets worse and the downward spiral continues.
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thefear , betfair are not interested in your profits , only their own .
liquidity may be down in some markets , some big players/PC payers may have left , but their share price is doing very well . there is no need to change anything in the eyes of betfair . |
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i think this share price saga will be big news one day
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Pablo, I think the chief exec is concentrating on the sportsbook and will turn his attention to the exchange at some stage. My point is that if he doesn't hurry up the exchange will have already been declared dead and the life-support machine switched off.
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Bump
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Finally after over a decade.
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Had to check it wasn't April first when I got the email, frog.
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incredible scenes - a 100/1 shot landed...more like 500/1 frankly...
just assumed an even worse deal when the email arrived - 'Update to our Exchange Premium Charges' fair play to BF for finally admitting the old version to be neither fair or in the best long term interests of their product. |