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If I just back horses to win, and hypothetically make 25POT% per week long term average. Will I be eventually be charged the Premium Charge?
A betfair lady on the phone said it won't apply to me but I am not sure if she is telling furphy's just to get me to bet.
I remeber something about it would only apply to traders but remember people were complaining the rules were pretty vague as to who could be charged.
Therefore if I will be charged for just backing horses to win I'll close my account immediately.
A betfair lady on the phone said it won't apply to me but I am not sure if she is telling furphy's just to get me to bet.
I remeber something about it would only apply to traders but remember people were complaining the rules were pretty vague as to who could be charged.
Therefore if I will be charged for just backing horses to win I'll close my account immediately.
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You will need to be making a nice few thousand regularly to pay the PC so if you get to that stage I wouldn't think you would worry about it. If you are only placing win bets then that's highly unlikely to happen unless you are one of the 2% who make it pay so I would say don't lose any sleep over it
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Matey it matters not how much you win, if you dont back losers as sure as night follows day or vice versa you will pay PC.
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An example - if you just back even money shots, to win, and have a strike rate approaching 60%, you will pay premium charge.
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It is not possible to make 25%POT long term by backing horses.
Hope this helps. It is also a myth that the more you win the more PC you pay. Most PC payers are not the big playing 2% comm payers, they are people who make a small profit on each market by low risk methods, meaning that they rarely have a losing event. |
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Simple as you will pay the PC charge if you are achieving what you say in fact you should already but they won't warn you just take the funds on Wednesday I think! despite what others who don't qualify for PC say it will effect you I no longer bet with Betfair because I dont bet in thousands and refuse to pay an illegal tax - means I bet elsewhere now days.
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Hawkeye, you could easily get hit by the Premium Charge. It is easily possible to make more than 20% POT despite what Loper and a few other betfair apologists claim. I get hit by the Premium Charge most weeks (every week apart from 3 this year). Approximately I'm backing 50% of the time and laying 50% of the time. I don't trade and I don't have fast pictures. I do play in running a bit but it's not my main betting strategy.
If you are just a backer and believe you've got a high enough strike rate that the Premium Charge may apply you really are better off betting elsewhere assuming you can get on. For me it's a combination of struggling to get on elsewhere and the fact that 50% of the time I'm laying which keeps me here. |
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No worries for me then maybe the extra collected will go to the punters who are losers. Good idea wonder Betfair have not thought of it before.
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