General Betting
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Betfair raising the commission
Betfair raising the commission
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Replies: 52
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Raising commission all round would mean only trading is viable. Punters might as well go to a bookie.
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Trading's only viable if you have consistent liquidity which now seems to be dwindling daily on the horses. Even close to the off and first in the queue it can take forever to get filled these days, I wouldn't be surprised if Betfair have their fingers in the till and matching bets at source before letting the scraps thru to the exchange.
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^if that was happening, you'd see evidence of it on the site and especially on platforms like geeks.
I've never seen it. |
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Maybe you're not looking hard enough, viva
 Not too sure how trading software like the geeks toy would see things that happen at source, tbf. I run quite a bit of my own software and trade manually and odd things have been happening in the racing markets for some time now as well as actual liquidity falling alot more drastically than the matched totals show. |
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well, every bet I've submitted ever has appeared to hit the exchange in full, either by matching a visible amount or showing up as an offer. if BF were front running the way you say, I'd expect to see some discrepancies with that.
of course, they could be front-running by queue-jumping on the exchange, but I've seen no evidence of that either. whenever I've been waiting at a price it's seemed to take about the requisite amount of action before I've got matched. Geeks, especially the live charting function, is useful for judging both those things. I'm by no means a BF apologist - I think their current strategy is essentially somewhere between confused and wrong - but this particular knock just doesn't ring true with me. |
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How much commission do they charge for just using the forum?
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no no no the comish is high enough
at some point the so called better odds will just be gobbled up by comish if not already the people who run betfair are total tails |
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I think a 5% commission rate is absurdly high. It makes it pretty much impossible to make any profit from pure betting (no trading). So it's not really viable now.
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imo they should consider relating discount to lifetime net profit as well as BF points.
I wonder if they've ever crunched the numbers on replacing PC2 with a discount cap or higher starting rate. |
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how do you mean viva, you pay higher commission if you've won more? That would be a terrible idea. If Betfair did that to me, I'd cut a massive chunk of my business.
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Dont confuse commission on each market with overall fees (which include pc etc). Any increase in basic commission puts Betfair at a disadvantage against the bookies in the quest to get outright punters. It benefits traders and hurts those people who want to hold on to a bet.
5% is already too high in most markets. If you are not trading who would play Asian handicaps with a 5% commission? Years ago Betfair brought in the MBR to address this and give them pricing flexibility. But in recent years it has barely been used. |
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PC paying customers have a cushion against increased base commission, since they are already getting their charges 'topped up'. Higher rates will mean that they pay less PC.
So the people hit by increased commission will be predominantly newer / smaller accounts. Who are exactly the kind of people that Betfair should be trying to attract and encourage... |
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Investor - I meant something like capping the discount at various rates below 60% for 250K+ winners instead of the higher rate PC2.
don't know if it's a flyer. out of interest, do you think you'd pay more or less with no higher rate PC but 3% commission? |