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08 Nov 13
14:19
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Date Joined:
10 Jan 02
Back in 2008 I had a disagreement with the Betfair Premium Charge team about the refund I was due from ante post bets placed prior to the introduction of the Premium Charge. It was accepted I was due a refund but the amount of the refund was disputed.
In a nutshell the refund they calculated was based on the same premise of the initial premium charge rugby offer that was swiftly withdrawn, because it was, to put it mildly, completely illogical and totally flawed. It has now been replaced by a new rugby offer which is based on rugby winnings not being included in the premium charge calculation at all.
The irony is that back in 2008, I argued that the ante post winnings should not have been included in the PC calculation if I was to get the proper refund. In a series of patronising and condescending replies, implying I was both a nuisance and stupid, it became clear that the only way I would get a refund was to take them to court. After due consideration I thought better to let sleeping dogs lie.
Now with this development comes a tacit admission from Betfair itself that I was right all along. What should I do?
In a nutshell the refund they calculated was based on the same premise of the initial premium charge rugby offer that was swiftly withdrawn, because it was, to put it mildly, completely illogical and totally flawed. It has now been replaced by a new rugby offer which is based on rugby winnings not being included in the premium charge calculation at all.
The irony is that back in 2008, I argued that the ante post winnings should not have been included in the PC calculation if I was to get the proper refund. In a series of patronising and condescending replies, implying I was both a nuisance and stupid, it became clear that the only way I would get a refund was to take them to court. After due consideration I thought better to let sleeping dogs lie.
Now with this development comes a tacit admission from Betfair itself that I was right all along. What should I do?
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Nothing probably.
I remember at the time I phoned up and asked why they were introducing PC. The guy on the phone said that winners were taking money out of the system too quickly. I said that I was a net depositor growing my bankroll and the commission I was paying and the money I was putting into the markets at an exponential rate, and that charging me more would lead to Betfair themselves draining liquidity from their own markets, as I would grow and reinvest at a slower rate. This is exactly what happened.
Just be happy that Betfair now seem to 'get it'.
I remember at the time I phoned up and asked why they were introducing PC. The guy on the phone said that winners were taking money out of the system too quickly. I said that I was a net depositor growing my bankroll and the commission I was paying and the money I was putting into the markets at an exponential rate, and that charging me more would lead to Betfair themselves draining liquidity from their own markets, as I would grow and reinvest at a slower rate. This is exactly what happened.
Just be happy that Betfair now seem to 'get it'.
^ what he said.
though in principle you're right - effectively making the tax retrospective on some markets was a disgrace.
though in principle you're right - effectively making the tax retrospective on some markets was a disgrace.
Their new offer/promotion for PC payers on rugby union and Spanish football Mr Magoo. To make the markets not liable for PC they aren't including them in the PC calculation.
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