General Betting
There is currently 1 person viewing this thread.
This was the one about the e-mail sent notifying it takes place at the end of this month, 7% in some places & 6.5% in the rest of the world.
sort by:
Show
per page
Replies: 83
|
By:
Sweden
At Betfair you always get the best possible products and services. To ensure you continue to get a premium experience, we are increasing the base commission rate on Betfair Exchange markets in your country to 6.5% from January 30th. You can of course continue to earn significant discounts of up to 60% on this commission rate through the Betfair points system. A full explanation of how your commission is calculated can be found at Betfair Learning. This rate increase does not apply to any promotional markets with a fixed commission rate. Thank you for your continued business and good luck with your future betting at Betfair. Yours sincerely, Betfair Customer Service |
|
By:
A step towards PC removal? Soon the Purple guys will have an open goal.
|
|
By:
Am affected by this aswell. Quite disgusted to be honest. Everyone else is improving their service offer. Betfair is going backwards. Betfair is getting less and less of my business.
|
|
By:
 |
|
By:
|
|
By:
UK excluded i guess
|
|
By:
6.5% here as well, after downgrading the discounts on commission severly for my country 6 months ago. Must be time to switch to purple now
 , as liquidity has also deteriorated significantly since excluding main European countries. Who will still remain betting here??? |
|
By:
What kind of company charges all (or nearly all) overseas customers 30% more when it's far from 30% more expensive to serve those customers? Can you say more clearly that you don't want any overseas customers? If I were a losing customer I would close my account in a heartbeat out of disgust. My mood right now is such that I easily could get myself banned from the forum, so I will say no more
|
|
By:
Why only 6,5% commission for countrys outside UK?
8% for all foreign countrys, 4% for UK would be very fair imo. Betfair is a very sympathetic company |
|
By:
however you all forget they are "ensuring we get a premium experience"
|
|
By:
If a country is in the EU then I'm suprised they are able to charge differently, unless there are higher costs invloved through taxes or licences
|
|
By:
fixed
however you all forget they are "ensuring we get a premium experience" Oh i really forget. But i think this special "premium experience" feeling makes it worth paying the extra 1,5% commission |
|
By:
I am a little confused now, i thought the premium experience was 20/40/50/60%.
Are you saying its now 6.5%? |
|
By:
I´m glad you are only a little confused hazel.
I´m very confused To much premium experience here |
|
By:
am i correct in thinking that if you are spanish and bet on a English premier league football match it costs 6.5%, but your counter-party who lives in UK pays only 5%.
yet if you are English and bet on a spanish premier league match it costs 5% , whilst your foriegn counter-party from who knows where might pay 7%? |
|
By:
You are correct.
6 month ago they started to give every foreign country different commission rates from 5,5% up to 7,5% - also with different (higher) discount rates. |
|
By:
i mean lower discount rates-sorry, only 50% maximum discout instead of 60% for example
|
|
By:
thanks ridiculously -
i hope my commission generated takes this into account |
|
By:
I for one am delighted about this, had enough of them foreigners sitting in bongo bongo land enjoying our British Premium Experience. Bleed'em dry I say.
|
|
By:
 |
|
By:
hazel 24 Jan 14 18:28 Joined: 15 Jun 01 | Topic/replies: 519 | Blogger: hazel's blog thanks ridiculously - i hope my commission generated takes this into account I would guess implied comm remains at 3%? |
|
By:
Investor2 with a 30% increase in the MBR (from 5 to 6.5) I would expect the implied commission to increase at the same rate. i.e from 3% to 3.9%
|
|
By:
|
|
By:
It will have a knock on effect. Who will you bet against?
|
|
By:
What rate do people have to pay in the UK?
|
|
By:
they don't have to pay commission at all but generate tons of implied commission because the England Football Team never wins !!!
|
|
By:
Between 2 and 5% (before premium charge).
The lack of forward thinking at Betfair is quite incredible. Look at a company like Amazon. Their profits are almost zero because they know its about the long term and capturing market share - which is what bf should be looking to do, by making their product more attractive. Instead bf do the opposite. |
|
By:
They are retarded...I got sent word that commission in my country is going up to 6.5 %...I live in Canada but I fund my account from a UK bank account in Pounds Sterling...WTF?
|
|
By:
Unless these increases relate to some kind of government taxation in the countries affected, this looks like another backward move by one of the most depressing companies on earth. The increases are fairly irrelevant to traders / (most) pc payers but will sicken and see off another glut of losing gamblers.
|
|
By:
as you barely know even 0,1% of the companies on earth you should not make a statement like this
the betting exchange itself is still a thing of beauty not seen in 100% of all other bookies on earth however would be nice to see them not make as hard an effort to destroy it eventually |
|
By:
Read on another forum plans are in place to put commission to 6.5% or 7% across the board later in the year.
How depressing. |
|
By:
as you barely know even 0,1% of the companies on earth you should not make a statement like this
Was from a personal viewpoint (and a love of exchange betting) fixed so the statement stands true to me even if I could only name 3 companies. I'm sure from a moralistic viewpoint they'll be a long way down the queue for hell. the betting exchange itself is still a thing of beauty not seen in 100% of all other bookies on earth Agree but the stock market interface has had its day. however would be nice to see them not make as hard an effort to destroy it eventually Totally agree. |
|
By:
|
|
By:
It all started when they put it up for Australian racing after the NSW racing put on a turnover tax. It was the only way to make any kind of profit with a turnover tax inplace.
The fact that revenue increased as a result for these many runner events that have high overrounds because people continue to bet led to these tests in other countries. Its a dangerous game to play. Short term revenues could increase enough for people to meet their targets. But surely long term its going to hurt not just Betfair but the whole exchange industry. Rewind back just over a decade and think why Andrew Black thought Betfair would work. It was to massively reduce to cost to punters that bookies were charging. Using this policy they built a $1bn company and could have wiped out the bookmakers in UK if they had not taken their foot off the jugular. Now the costs to punters are going up and up. Let actually look at the cost of betting here. example prices (11.19am) ignoring marathon from odds portal best with bookies Bournmouth 11.92 Draw 6.02 Liverpool 1.33 top uk recreational online bookie Bournmouth 11.0 Draw 6.0 Liverpool 1.30 On Betfair with zero commission Bournmouth 12.0 Draw 6.2 Liverpool 1.31 On Betfair with 6.5% commission Bournmouth 11.285 Draw 5.86 Liverpool 1.28985 I mean come on. Get a grip. You cannot expect people to use the exchange if the odds are worse on BF than bookies in general. |
|
By:
If you look at 3 selection events like 1X2 it is so worrying.
The offer prices could be: Team A 1.99 Draw 4.0 Team B 4.0 It is rare that the book would be this tight for the offers on BF. But at 6.5% it becomes Team A 1.92565 Draw 3.805 Team B 3.805 The book is at best 1.045% for these recreational players. There are at least 4 well known recreational and pro books that offer less than 1.045% as standard in most 1X2 matches. If Betfair were to offer 2% to everyone then the book would be 1.015% and this would regularly be top price. Do the pricing team understand betting? |
|
By:
First race at lingfield this afternoon. Prices taken at 11.42
Betfair with 6.5% commission 3.29075 4.927 5.114 9.8825 8.667 16.4275 16.895 28.115 Top bookie prices 3.25 5 5.5 9 9.5 15 21 29 Betfair 2% commission for everyone 3.401 5.116 5.312 10.31 9.036 17.17 17.66 29.42 |
|
By:
people use betfair instead of a bookmaker not so much for the prices , but for the fact that you can
lay an outcome trade a position bet in running on horse racing and other sports and probably other reasons |
|
By:
You can trade a position and play in running with other bookies. It's just technically more difficult to calculate.
|
|
By:
I agree with all that rcing. But with punters taking a holding a position there could be no trading. It all starts with punters. You have to offer them a reason to come here.
|