General Betting
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25 Apr 13
19:08
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Date Joined:
25 Jan 08
Change to Market Base Rate: 5.5%
After a recent review Betfair has decided to increase base commission rate for markets in your region. Please note the above change to the standard Market Base Rate which will come into force on Tuesday 30th April 2013 for all Exchange markets. Markets running under the Australian Wallet will be unaffected.
After a recent review Betfair has decided to increase base commission rate for markets in your region. Please note the above change to the standard Market Base Rate which will come into force on Tuesday 30th April 2013 for all Exchange markets. Markets running under the Australian Wallet will be unaffected.
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What region is that??
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It's going up to 6.5% in Poland.
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Why are they doing it are they having to give a % to the local taxman?
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The commission rate on racing in Aust has been 6.5% for nearly 12 months. There are also other new charges as well.
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How does that affect people in your region paying PC? Is implied commission also raised?
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And is commission for big players set at 2.2% instead of 2% with a 5.5% base rate (and 2.6% for the 6.5% base rate)?
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I'm not sure about the implied commission, but the lowest comm is 2.6%.
It only applies to racing, but is charged in all states, eventhough some don't tax on turnover. Just another example just how greedy these pricks are. |
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so... did we establish where this is yet?
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6.5% austria (racing?)
5.5% probably denmark/finland (all sports?) |
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5.5% for norway too I think
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Cayman Islands 1.01
Huddersfield 50 1000 Bar |
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austria should be australia. that one is for tax reasons, no idea what's going on with the others.
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My local greengrocer has just put up the price of apples...
What should I do? - Stand in the middle of his shop, stamp my foot, and scream at him " You're a greedy fecker!" ? - Tell him his pricing strategy is all wrong and his business is as good as finished? - Slag him off to all of his other customers and suggest we group together and boycott his shop ,.. but continue secretly buying them ?... his apples are rather sweet after all. - Report him to the Greengrocers' Commission ? - Or buy my apples elsewhere ? |
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Investor, where did you read it applies to Norway/Denmark/Finland? A quick googling of the subject just leads me back to this thread >.< Any comment from said countries please?
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I'm in Norway and I've had no notification of a increase in commission rates.
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JTG - WALOFS
Just use an alternative greengrocer who doesn't shaft his loyal customers just because he can - when all the customers have left and the Greengrocer has lost his living maybe then he will realise his greed was the downfall of his business. |
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That's good Eddie. I'm Swedish, and negative developments in neighbouring countries make me worry.
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Frank ?
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No, my name isn't Frank:)
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It's probably just matter of time before raised commission is brought to all markets. I would understand increased charges on countries that have bigger expenses (jurisdiction's, employees..) but as far I know there are no Betfair employees and no government taxes on these countries where the new comm is brought into.
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Nick, what region/countries are facing these hikes ?
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At least Poland and Finland, probably some other smaller countries too. Have to wait till next week to see who's really affected, given large number of the customers didn't even receive notification email (me included) or popup when logging in to Betfair though they are most likely affected. Hard to believe they would only increase comm for some smaller bettors on that country.
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For Bulgaria - new comm is 7.5%
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By: Mr.Anderson Date Joined: 07 Oct 10
Add contact | Send message When: 27 Apr 13 08:55 Joined: Date Joined: 07 Oct 10 | Topic/replies: 296 | Blogger: Mr.Anderson's blog Investor, where did you read it applies to Norway/Denmark/Finland? A quick googling of the subject just leads me back to this thread >.< Any comment from said countries please? . http://www.oddsnet.com/fora/view/Re__YNWA__-)-76595-203798.html |
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ty
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Is there any good reason for that awful 7.5% in Bulgaria? Any government tax or such?
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lack of competion i would imagine not that i am an expert on the bulgarian betting scene.
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Betfair sending clear message to the affected countries customers: "don't play on an exchange anymore!"
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JTG, how you'd react would depend on whether your greengrocer was a monopoly whose presence meant that there were no alternative sources of apples in the vicinity.
that's the issue with BF. in the early days they established themselves as a de facto monopoly in exchange betting, so people who love the idea of P2P see BF as a poorly performing custodian of a great idea. |
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Could be Betfair using countries with a relative small number of
customers to see how it affects t/o and profits. |
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TheInvestor, do you visit and understand Norwegian betting discussion sites or did that one just pop up through a google search ?
Obviously some Norwegian Betfair customers have had notification of a commission raise, but I sure haven't had one yet. I don't know if this means Betfair will have different rates for different customers within the same country or if it's just because my account manager(I have a key account) hesitate more in "delivering" bad news... |
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Just googled it and used google translate Eddie.
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I just recieved an email saying they are raising the Market Base Rate in my region(Norway) to 5.5 %, but I wont be affected. They have excluded a small number of accounts in my region from the raise.
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WILL THIS PUT OFF ALOT OF RUMANIANS AND BULGARIANS THAT ARE PLANNING TO COME AND LIVE HERE
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Or the Romulans.
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Happy for you Eddie, but sad for the Norwegians who aren't as important.
It's still strangely difficult to find information about his matter, but there is this in Betfair's help files. http://en.learning.betfair.com/app/answers/detail/a_id/2684/~/what-is-the-market-base-rate%3F "In Bulgaria the default Market Base Rate is 7.5% In Poland the default Market Base Rate is 6.5% In Norway and Finland the default Market Base Rate is 5.5%" (Says nothing about Denmark. Unless I'm misinformed they currently can't use the API in Denmark though, which sucks almost as much.) Would be interesting to know the reasoning behind these raises. Anyone got any idea? Are they just trying to figure out an equation for elasticity of demand, using "insignificant" countries for the trial?? Or is it because of taxes / regulation trouble? |
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No changes in regulation/taxation in Norway.
Only thing is Norway was one of several countries where Betfair stopped all investments/promotions from at the end of last year including laying off the Norwegian country manager who was their only employee in Norway. Betfair is still wide open though, both for new and old customers. I guess they are just trying out higher commission rates in a few small countries to find out the impact of it. If it doesn't have a great affect on the customers in those countries, I think we'll soon see a commission raise all over... |
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If so, I hope turnover drops like a rock
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