General Betting
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04 Jun 13
20:50
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Date Joined:
22 Aug 11
I would like to clarify I have never paid premium charge due to my overall charges being 39% approx of my gross profit. My query is in relation to a link I use that shows how much I won /lost the previous week and how much commission I paid. I have been monitoring this for about 6 weeks now and it doesn't seem to quite tally up, each week my gross profit is roughly £100 down on what the link says and my commission paid is about 3% more than what it states. Is this something I should be concerned with or am I so far away from paying this that I should let it rest? any opinion would be appreciated.David.
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Just a guess, but the figure on the link is commission generated, not paid, two different beasts designed to make betfair even more.
Difference in gp could be you may have already deducted your commission paid, the links figure wont have. |
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If you are seeing this on the Premium Charge link, it's probably just you not understanding it fully.
Gross Profit there is before Commission is deducted, on the usual p&l report through My account, it's shown after Commission(net profit) And what you see on the Premium Charge link is commission generated, not commission paid. To find Your commission generated figure you need to add up all commission paid during the week. Then you have to add up all your losses for the week and calculate 3 % of that. This 3 % figure is then added together with Commission paid for the week. The number you then get must be divided by two and there it is - Your Commission generated for the week. |
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^ good post eddie
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Thankyou very much,yes that works out now as my commission paid is at a rate of 4.1% so more than the figure on the portal link.
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To find Your commission generated figure you need to add up all commission paid during the week.
I think that commission generated on the portal is worked out as 2% of wins and 3% of losses. I usually only bet on golf here so most weeks will play only 1 market. For winning weeks (1 market) the commission i pay betfair after the event (between 4 - 5%) is always a higher figure than the commission on the portal. |
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Commission generated =
(commission paid / 2) + (implied commission / 2) implied commission is based on paying 3% commission on losing markets. |
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sorry, should be
Commission generated = (commission paid) + (implied commission)/2 implied commission is based on paying 3% commission on losing markets. |
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Doh! Eddie has already explained it above
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Mighty Whites, the % on winning markets is what you have paid and as you said , it's 3 % for losses.
So if you have only winning markets a week, your commission generated will be exactly half of what you have actually paid. |