General Betting
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sign in if you have no idea how Premium Charge works in practice
sign in if you have no idea how Premium Charge works in practice
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Replies: 68
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yes.
person a, been here for years, wins a few k each year, loves the place, no incentives but tells everyone how great this place is / was / not anymore..wins about 12k and then gets hit with 20% premium charge. person b, just joins. if both people did the same antepost market and identical bets, person b, is 3k better off. doesnt make sense. No wonder they need the pc avoidance team. |
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Thats why you get your brother to sign up, then your sister, then your mother, then your granddad.... etc
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then a 2.5k fine.
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sorry adjustment.
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hide ur ip address/delete all flash cookies and open an account under someone else's name. that's what everyone else does.
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yes Lanza I'm in profit overall. I do wish the portal would show the net profit though as well as the gross profit (which apart from for Premium charge purposes is meaningless)
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sorry that was in reply to 3setpoints.
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i always thought the the gross profit figure was where i was in terms of pc1 / pc2 and thought i had to finish shortly as getting caught in pc2 net at possibly 60% just isnt worth all the time/effort from them onwards.
Was given a stay of execution (thats what it feels like) to find out that pc levels are based on net profit. net profit = gross profit - (commission / pc1 / anyother charges) Probably extended my forced retirement date back by a yr, maybe 2 if i scale down a little? I try not to visit the portal, horrible little place. Just take a deep breathe when checking through me list of bets for the week, every wednesday, looking for the betfair take.  you spend 3 or 4 years, hardly winning anything, a few yrs on 10-15, maybe 20. Finally crack it...40k..50k...64k this year so far...and then retired. Welcome to betfair. |
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i thought so cdog.
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i thought so cdog.
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I quite like the portal in fact as it always reminds me that I'm not subject to the premium charge
How much I'll like in the future though is anyone's guess    |
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Betfair now looks like this after 5-10 years
People not paying the PC charge:- Time to give up. You are really not making your betting pay after lots of expenses. People who are paying the PC charge:-Time to give up.You are really not making your betting pay after lots of expenses. Moral of the story is when a betting company becomes a monopoly it just isn't worth the time/effort for the players anymore(You could be making much more elsewhere with all the time/effort you put in) |
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People not paying the PC charge:- Time to give up. You are really not making your betting pay after lots of expenses.
You can be a big winner and not pay the premium charge, depends on your style of betting and commission generated |
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what do you bet on cdog? how do you manage to be up overall. surely if you hit a losing bet do you now chase or martingale to stay "up overall" ?
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Mainly cricket, football, tennis and snooker. Other stuff when appropriate. Not sure about the rest of your question though. Surely there are a lot of people who are up but not up by enough to pay the PC.
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not sure how cos how does a regular bettor cope when a bet loses if not chasing?
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because if a bet loses they probably lost 0.25% of their bank so why would they be chasing
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if I have a £10,000 bank and lose £25.
so when they are backing a 1.30 shot they are only staking £25 to win £7.50 £7.50 wins surely aren't gonna make you 20k a year |
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a few thousand of them would
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and what about the few thousand x £100 loses to go with it?
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sorry £25 not £100
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They could have 50 bets a day, small losses , small wins, all adds up , if they have an edge
50 x £25 bets = £1,250 , if they average £1,310 return they'd easily make £20k a year |
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unlikely though as they're winning 2 from 3 without chasing. probably make 825 backing 1.30's so actually make a loss
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Why would they make £825 if they were backing 1.30
Why would they have to back 1.30 anyway? Can't see why they would care if a bet was 1.30 or 33/1 if they figured it was a good price |
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well what odds are they backing roughly?
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who are we talking about? Surely everyone backs at many different ranges of odds. I know I certainly do, both backing and laying. I doubt there is a 'typical' sort of odds 'they' are backing at roughly.
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cdog how does a regular bettor cope when a bet loses if not chasing?
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They have to let it not affect them too much and move onto the next bet/day/week or whenever. Some are better at this than others. I'm better than I was but still get down more than I should. Especially today when Flipkens never traded below 1.8 for one of her own service games despite this being a grand slam semi final, not some supposed mismatch! And guess who backed her thinking it was value
 Still I'd been on a decent run until then so I had remind myself of that. |
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see this is the problem with value. and betting is your only income cdog?
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