General Betting
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I have been sent my total profit loss since I opened my account 8 years ago and I'm a little confused.
It's a little like this (I HAVE CHANGED THE NUMBERS lol))
Event Sport Name Net P&L Commission Betting P&L
American Football -2 0.00 -2
Cricket -25.81 -2.84 -22.97
Darts -56.68 -2.64 -54.04
Horse Racing -38.23 -4.88 -33.35
Rugby Union 31 -2.56 33.56
Snooker 2.19 -0.21 2.4
Soccer -4250.38 -3,712.12 -538.26
Special Bets 19.03 -1.14 20.17
Tennis -601.1 -32.96 -568.14
Sum: -4921.9 -3,759.35 -1162.63
Now I had my own personnel records showing a certain profit over the years, so can someone tell me how to interpret the above data, does it mean my overall P/L according to this table is -£1162? or should I add the
-4921.9 & -3759 together to equal -8681.25.
thanks.
It's a little like this (I HAVE CHANGED THE NUMBERS lol))
Event Sport Name Net P&L Commission Betting P&L
American Football -2 0.00 -2
Cricket -25.81 -2.84 -22.97
Darts -56.68 -2.64 -54.04
Horse Racing -38.23 -4.88 -33.35
Rugby Union 31 -2.56 33.56
Snooker 2.19 -0.21 2.4
Soccer -4250.38 -3,712.12 -538.26
Special Bets 19.03 -1.14 20.17
Tennis -601.1 -32.96 -568.14
Sum: -4921.9 -3,759.35 -1162.63
Now I had my own personnel records showing a certain profit over the years, so can someone tell me how to interpret the above data, does it mean my overall P/L according to this table is -£1162? or should I add the
-4921.9 & -3759 together to equal -8681.25.
thanks.
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Replies: 31
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I think it means you have lost 4921.9
If Betfair hadn't charged you commission you would only have lost 1162.63 -1162.63 + -3759.35 = -4921.9 |
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Ah I see, thanks.
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How is your commission on soccer so high?
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i was puzzled by that one
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No idea why its so high, maybe I should email them to explain what exactly it means.
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this is what I was told:
well commission is only paid on the winning bets, so this is commission paid on bets you have been involved in. So some of this commission will have been from the other customer who won the bet also. |
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this is what I was told:
well commission is only paid on the winning bets, so this is commission paid on bets you have been involved in. So some of this commission will have been from the other customer who won the bet also. |
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I'm sorry, but that - in this case - is totally rubbish because otherwise your commission on American Football wouldn't be zero. I think you need to go back and get a correct answer from them.
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ok now I've been told that it looks too high and they'll email me later.
Mystery deepends. |
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yes, the commission on soccer is sky high ... you are only £500 off it being 100% ... that is waaaaaaay wrong !!
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ok they have sent me years of betting, there's absolutely no way I could go through each bet it would take months, they did say in the email
'if you can highlight to us where you have been over charged we will be more than happy to investigate it for you, however we find the commission rate to be spot on. Please do let us know. |
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so is Mr.Andersons reply correct that for this example (i changed the numbers) without commission included my loses would be 4921.
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I didn't say that, or at least that's not what I tried to say.
You have lost 1162.63 to other players, and paid 3759.35 to Betfair, for a total loss of 4921. |
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Presumably you bet almost exclusively on football?
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you need to start winning mate, get rid of that minus sign
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I did say I changed the numbers schalke04....I actually made them better...just kidding lol.
Thanks Anderson I understand now. |
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The commission/profit ratio is related to your edge - the more marginal it is the higher the ratio of commission to profit/loss.
If you have a ROI of 4% - you, for example, back even money shots that win 52% of the time, you will (on 5%) commission get back £195 for a £100 bet when it wins. It wins 52% of the time, so your long term return after commission is 1.4% with 2.6% going on commission. So your figures would look like:- net P&L: 35, commission: 65, betting P&L: 100. (I think that betfair add some credit for losing bets in the statement, but that doesn't affect the general principle) |
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Assuming an average commission of 4.5.
Purpleronnie has had soccer gross wins of £82491.56 and losses of £83029.82. This gives a pre commission loss of £538.26 Commission is 4.5% of £82491.56 £3712.12 |
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If he'd not changed the numbers....
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Numbers were changed but ratios/percentages were kept the same.
So I take it betfair's sum's are correct? if not, I can't do much about it anyway lol. |
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The soccer figures perfectly illustrate why Betfair has ruined the game for punters.
Say you're on 4% commission (i.e. 20% discount rate), hence a fairly serious punter. You're a good, remarkably consistent judge who, before commission, wins £100/week on here, week-in, week out for a year. By the end of the year you look at your total net profit and it reads ... MINUS £1500! How come? Because for every week where your betting has won you £100, you've paid approx. £130 in commission. All the faff about Premium Charges is a red herring, a diversionary tactic, to divert attention from the way criminally sky-high commission rates destroy the spirit (and the wallets) of even those shrewd enough to win on here. God help the losers. They soon disappear back to the gentler clutches of the bookmakers. |
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It's perfectly possible for the commission figure to be that high, assuming you bet far more on football than on the other sports listed. For example, last week I paid : Total Charges % 149.09. (Taken from the Premium Charge Portal).
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Net P&L Commission + Betting P&L = Net P&L
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Well that's what I tought kenilworth, now I'm confused again.
Not sure if kenilworth is right or Mr.anderson is. Hellllppp. |
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They are saying the same thing purpleronnie.
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Oh are they??? I though Kenilworth was saying (according to the figures) that the total loss would be 4921.9 + 3759.35 = 8681 , whereas Mr.Anderson was saying total loss was £4921.
sorry about this, I'm easily confused lol. |
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Well done you lost £5,000
Like most people on here there life time P&L will show - figures It's a tough game |
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-45000
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- £39,000
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- £39,000
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