General Betting
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The PREMIUM CHARGE is GOOD for EVERYONE......
The PREMIUM CHARGE is GOOD for EVERYONE......
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Replies: 60
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I wouldn't really say pc free as you've already paid pc on those winnings.
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"I get your point also handles, but what if I lose another 50k in January, what then?"
Double yer stakes? Martingale? find a cliff? Ok fair enough point taken. Unfair for the high staking volatile P&L's. |
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tbf handles ,we're all mad for continuing because you know that 'black day' will arrive sooner or later ,and when it does i will be leaving feeling rather p1ssed off that i'd have been robbed
i personally could come back after a 50k loss -not that i wouldn't make it back over time , but it would feel like climbing back up a very high mountain after falling off the bugger - |
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And try climbing up that mountain with a 6.5 commission kg. in your rocksack.
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couldn't *
i should learn to read my posts before submitting |
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thank you....very important to discuss this at length as a lot of people, probably as much as 0,001 % on here, have had a downswing of 50k
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fixed, I think you are underestimating this problem. A lot more than what you suggest will have large swings.
I've paid 217 k in Premium Charges and have had one huge downswing of roughly 400 k in 2009/2010 and one of roughly 200 k in the first half of 2013. Left then and haven't been back since, mostly due to my hatred aginst Premium Charge and the Betfair management. I've been thinking of a comeback for a while now as I miss "life" on here, but the hike to 6.5 % basic commission rate from february 1st. put a damper on that urge... |
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And just to add, my total charges is now at 58.03 %, so I wouldn't mind that refund to take me down to 40 %.
Don't think I'll see it though  |
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That is a sad story Eddie and it's much the same reason for my walkout when PC3 was introduced. I was under immediate threat of it (40%) but moved to purple immediately because of the lack of rebates. I did return 2 years ago when I was experimenting with automated betting (couldn't get the purple api to work with my software) and, despite a good season, managed to build up a small cushion against the pc. Even with the cushion I again quit last year to date because I wasn't sure the threat of pc was worth the 12+ hours a day work.
The rebate issue is all the more frustrating because they rejected my suggestion that instead of a rebate the money could be offset against future normal commission payments. That would mean you would definitely get the money back provided you kept playing whereas now you only get it back if you keep playing and make a profit. I take it you are outside the uk as betfair tell me there are no plans to raise normal rates to 6.5% here? Not that anything they say can be trusted. |
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With a joining date of 2000, it may be that the original poster is a bf employee. He is only repeating what people say in bf HQ--that the pc is in effect a turnover tax, not a deduction from winnings.
Bf do not understand the workings of their own exchange. The most successful 30 people on this forum wd do a much better job of running the company than the top 30 people at bf. Top mgmt. will know about the many losers, the few whales and the few that provide spot liquidity in offering prices to the market i.e. that win at v. high commission-to-profits ratios. Beyond that they have little understanding of the ecosystem and how it responds to charging mechanisms. |
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ann witt(Feck, isn't it?), I'm not sure sad is the correct term, after all I think I've earned something like 650-700 k net in my lifetime on here.
However,I like many others have gone from loving this company to hating it during the last 4 - 5 years mostly in my case due to the despicable Premium Charge, even if there are other issues as well - like this recent hike in commission rates. There's only one reason this charge was implimented and that was to boost Betfair profits, no matter what Betfair say and other people on here choose to believe. I'm from Norway and sadly that rules out The Purple for me as the new owners banned Norwegian customers and also several other countries when they took over a year ago. |
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The current system is terrible. I have a large PC buffer at the moment and have had to reduce the very activity Betfair most want me to have - low margin high volatility bets. I simply can't risk my buffer getting any bigger.
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reallystrange
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thread= not u buffer
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Eddie the eagle 30 Jan 14 08:51 Joined: 01 Feb 04 | Topic/replies: 5,480 | Blogger: Eddie the eagle's blog
fixed, I think you are underestimating this problem. A lot more than what you suggest will have large swings. I've paid 217 k in Premium Charges and have had one huge downswing of roughly 400 k in 2009/2010 and one of roughly 200 k in the first half of 2013. Left then and haven't been back since, mostly due to my hatred aginst Premium Charge and the Betfair management. I've been thinking of a comeback for a while now as I miss "life" on here, but the hike to 6.5 % basic commission rate from february 1st. put a damper on that urge... Rate reply: | report block user Eddie the eagle Eddie the eagle 30 Jan 14 09:03 Joined: 01 Feb 04 | Topic/replies: 5,480 | Blogger: Eddie the eagle's blog And just to add, my total charges is now at 58.03 %, so I wouldn't mind that refund to take me down to 40 %. Don't think I'll see it though Sad Similar swings for me, on 40% PC. About to PM you Eddie. |
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Total Charges 44% currently.
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and have been above 40% for almost 3 years now, so thats barely news
of course you could come back every day and post the very same message again and again and there will be a lot of sympathy and whining here, but is this really something you should think about 45 times a day ?? |
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what ceiling do you need to hit before you start paying premium?
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depends on how fast your win rate is
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ttt
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How is the premium charge good for everyone when bets go unmatched?
It's a daft company. |