General Betting
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For the last week i made:
1315,28 Net
On PC portal I see:
Gross PL: 2108,14
Commission Generated: 662,13
Which gives 1446,01
Why my net on PL page for this period is: 1315,25 then?
Why I earned 1315,28 and on PC portal my net is 1446,01 am i calculating right?
1315,28 Net
On PC portal I see:
Gross PL: 2108,14
Commission Generated: 662,13
Which gives 1446,01
Why my net on PL page for this period is: 1315,25 then?
Why I earned 1315,28 and on PC portal my net is 1446,01 am i calculating right?
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Replies: 19
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I want to add that I have deducted primera division from this calculations- didnt do rugby.
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just dont know where 131 evaporated ?- dont understand those PC portal calculations.
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Caught in the NET of the fictitious 3% commission generated figure
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Com Generated is not the same as commission paid
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http://www.betfair.com/aboutUs/Betfair.Charges/
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When Im loosing for example 1000 do I generate a commission?
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P.S it so complicated for Francesca from customer service as well. Cant get an answer for more than 5 minutes now.
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" I will escalate this with the relevant department and they will get in touch with you via email with all the information required " she doesnt know.
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Betfair use commission generated when calculating Premium Charge, not commission paid.
In order to get your commission generated you need to add your commission paid together with implied commission which is 3% on all your losses. Then you will have to divide this number by 2 in order to get your commission generated figure. |
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Then you have to take away the number you first thought of
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Basically, the higher above 3% you are and the higher your win to loss ratio, the bigger the discrepancy.
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How do I know implied commission?
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well, you can either go through your your statement and work it out market by market, or you can just accept the fact that it's right. which it probably is.
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I love to being betfairian. I have to accept everything because its just "right"
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you don't have to - you can check the figures yourself. but I wouldn't bother in this case because they look about right.
gross losses x 0.015 + (actual commission paid/2) is the quickest way to figure it out (I think - can anyone confirm that?) |
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Thank you for contacting betfair
In response to your enquiry about the commission generated figure Commission generated by the customer's activity - this is equal to half of the commission paid on market winnings plus half of the commission implied on market losses Implied market losses is set at 3% So for example assuming you are on 5% commission if you won £3000 and lost £2000 making your Profit and loss £1000 Commission generated =0.5 * (0.05 *£3000) + 0.5 * (0.03 *£2000) = £75 + £30 = £105 Mail from customer service |
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in other words: half your taxes are calculated by looking at the income of somebody else
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