General Betting
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26 Aug 15
08:16
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Date Joined:
31 Jan 11
if I go into my account>activity>premium charges. I find the following i have participated in 28,887 exchange markets and allegedly total charges are at 24.63%. if I go nuts tomorrow and find £1,000 of liquidity at 100 /1 and win, wouldn't this mean that the vast majority of my winnings would be subject to premium charge? Wouldn't the charges far exceed any defunct government taxes?
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What? Heregeld? Scutage? Carugage? Maltolt?
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PC calculations discount/exclude your single largest win, so if you hit a massive one-off winner, it won't instantly hit you with a large PC bill. However, if you already had a slightly smaller huge win in your past betting, I assume that would suddenly fall back into the PC calculations and your lifetime total charge %s would take a hit. (I think that's how it works, can anyone confirm?)
As ever, premium charges are madly complicated and lead to confusion. Still, no-one is going to turn down a £1000 100/1 winner  |
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PC calculations discount/exclude your single largest win, so if you hit a massive one-off winner, it won't instantly hit you with a large PC bill.
This is not correct unless they have changed the rules lately. One big win exempt only come into play if your big win is more than 50 % of your total winnings , which is unlikely in this case as he has done more than 28.000 markets. |
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Oops, thanks for the correction Eddie. I didn't realise they had the 'more than 50% of your total winnings' clause. Premium charge gets more confusing each time I look at it...
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you would not get any p/c as they give you one weeks grace after you have used your £1000 p/c allowance to let you know that you are eligible to p/c, think they email you to let you know. this is my understanding on this matter
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i remember when i got my first (and only) premium charge, i didnt actually have to pay it cos it came out of that £1,000 allowance. it was about 5 years ago though i think. pretty sure it still applies though. since then ive done my tits in so it doesnt matter.
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so why then, if according to your own statements you are just a sideshow on here (i strongly agree btw), do you and your peers choose to flood the forum with silly comments on a not-done-yet merger deal nobody can assess with any kind of accuracy as of today
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fixed wake up! Betfair are being taken over by Paddy Power, it just doesn't get any lower than that. When you consider what betfair used to be and what they have turned in to now, they are nothing short of a laughing stock.
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its a con just say someone won 50k has to pay charge of 40% then loses nearly all of that then slowly wins it back when he hits 30k he has to pay charge
in the sportsbook price rush is a win win for betfair they layoff on exchange if they win the layer pays off,if not betfair gets comm., |
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Premium Charge Portal was being updated with great efficiency until recently.
Paddy Power Mgt must have cut back on staff in the Premium Charges Dept. The Premium Charges Avoidance Team (Betfair's In-House HMRC) are safe though. |
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Its all take take take from betfair as you can pay the premium charge for weeks on end then when you hit a losing run do you get a rebate to take you back to the minimum of 20% of charges but in reality 22.5% ? No you don't as you then do not pay PC until you get back to your previous winning amount before the loss however you might never get back to that winning amount which means you have paid well over the 20% charges,in my opinion there should be rebates when you are losing to keep you at that level of 20% but I know this is never going to happen.
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You sum up well mate.
These charges were the beginning of the end for Betfair |
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You sum up well mate.
These charges were the beginning of the end for Betfair |
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Annoying the portal hasn't been updated on time this week as I was looking "forward" to seeing how much I would have to pay, this being my first week of paying it. Got a vague idea how much it will be but nice to see it in print all the same
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Still not updated
Paddy Power Mgt at Betfair may have bigger fish to fry such as project Exchange Closure? |
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You can access it these days via 'my account' - 'activity' drop down
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that was re cdog post btw - if they haven't updated that yet either, obviously makes no difference but took me a while to notice it had even been added to the main account links.
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Good spot Brentford
Wonder if the weekly plunder of accounts will go ahead without advance notification of charges |
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It did last time. Even after requesting the figures from Betfair more than once I still have no official PC data from 22/06/15 to 28/06/15.
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Anybody been raided?
The Premium Charge Portaloo Team has been downsized and staff transferred to the Betfair Premium Charge Avoidance Team and Betfair Bailiffs. |
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I was 'raided' at 12:02pm, but when I looked the portal was up and running too (and there was even a 3p discrepancy between what it said, and what it was (in my favour surprisingly)
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The law says terms and conditions has to be fair to both parties, how the hell is this fair to both.
bound to be challenged soon. |
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Has the old portal been discontinued?
I'm getting directed to the following address: http://content.betfair.com/content/splash/unplanned/index.asp, with a message saying we're experiencing problems. Yet, the premium charges on the account pages are working. It's not a massive problem, but I prefer the layout of the old, traditional portal than the account pages. |
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I hope not. It's far easier to pick up data from the old portal.
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Agree - it's so much better laid out. I've got the same page today too. Looks like the old portal has been discontinued.
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Another Betfair innovation that makes things more difficult. Sometimes I despair.
I suppose they've killed it because the old PC portal made it easy to explain why the charges are occurring. |
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but who cares ? different design so what thats girls stuff, just move on
if one always complains he will never be heard |
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Another phucking downgrade from the Betfair IT dept.
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....and when you print it its a right mess, spread across 2 pages with meaningless krap about bingo, arcades, poker, vegas slots and all sorts of utter ****.
Betfair seem determined to upset their most loyal customers. They are effectively saying buggar off if you dont like it, we dont want you here anymore. |
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Tried to have a look at the cricket Aus v NZ 1st Test and half the pages don't load. Probably because it's on the old site. It is a mess.
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So this new page doesn't tell you how much pc you've incurred for the week - unless it takes you under your total charges threshold - which makes no sense. Unlike the old version - very annoying.
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this is embarrasing
Premium charge incurred for the week is called "Premium charge this week"....fancy for sure, who would have thought... further all the information given is exactly the same that had been given on the old page...they just integrated it into your activity menu to remove the need to bookmark an external page, so it actually makes sense ...design altered a bit, which is of course meaningless, however it seems to be enough to throw some bongo people on here completely off guard |
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On the old page it would tell you not only the pc you would pay but also the pc incurred. This information is no longer available, it simply says zero. I work it out myself anyway but its good to check with bf figures, still a bit embarrasing for betfair I agree!!!
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I've been notified that I'll be on the 40% pc charge from Nov 30th. I guess I'll try carrying on but it won't be easy as I'm not a bot user or a trader, I seed markets and supply liquidity. It does seem that BF don't care about that, there are dozens of football markets remaining empty every day, there could soon be more if/when I leave.
If anyone wants to chat about methods or ideas to churn comm and reduce pc, please pm me. I will be new to the charge, my total comm is around 22% so have never paid normal pc, so the 40% is going to challenge my survival for sure. Also interested to hear from other 40% payers as to whether it finished them on BF. Btw, I'm not bitter about the charge, I've had a good run, but if it pushes me away then BF won't increase their take from me from 22 to 40%, they'll reduce it to zero. My markets will be emptier, punters matching my bets may go elsewhere. How can this possibly be good? Maybe the best thing would be if BF/PP destroyed the exchange, then we would all have to move to daq? I may have to anyway, time will tell. |
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Apart from the pricing structure, diverting all new customers to a poor value recreational sportsbook, the exchange website, website reliability and customer service, I find betfair exchange is alright.
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Two more things. The lack of liquidity in anything except a main market and the over use of betfair bots so it's not peer to peer.
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I'm on 42% and carry on because most of my profit is now elsewhere. That's partly because it just gets harder anyway, partly because they don't give PC rebates, so not just because of the 42% charge. Exactly what the split is now I've no idea, but the majority used to be on here. I'm giving it 1-4 more years. Once my youngest son gets to University (in 4 years) that's definitely it. I'd quit now if I didn't have kids.
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