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Need to appease their shareholders this week...
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It was good while it lasted, lads. Long-term winners not wanted. 40% absolute minimum, rising to 60% in some cases.
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They already charge a commission.....how do they justify the premium charge? (just because you are a winner!)
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someone turn the lights off on the way out.
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that is utter greed
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Or even 60% if they like you enough, maybe this is YU's last gasp attempt to bring down the company before he leaves
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I THINK BETFAIR ARE GETTING TO GREEDY NOW.ALL THERE WILL DO IS DRIVE SO CALLED CUSTOMERS AWAY.FACT
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must admit it sounds ominous, can't imagine I'll be able to get 'twenty-odd grand' losses back in this lifetime but, eh, enjoy the crack, playing bookmaker; we all have to pay for our pleasures but it's disconcerting to think the betfair model is being not only de-faced but broken up.
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Wow.
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From 18th July 2011 Betfair will be making some changes to the Premium Charge which may affect you directly.
Full details of the changes can now be found on the Betfair Charges page under the About Us section of the website but the changes can be summarised as follows: Customers will be subject to Premium Charges at higher rates if they satisfy all of the following conditions: Lifetime net profits (gross profits less commission paid and Premium charges debited) exceed £250,000 Lifetime commission generated less than 40% of lifetime gross profits Bet in more than 1,000 markets As of 20th June 2011 your exchange betting activity satisfies the criteria set out above. In order to view the Premium Charge rate that will apply to your future betting as well as the calculation that determines your rate and the date from which the rate becomes effective, we have developed a secure online portal. The portal can be accessed at terms.betfair.com by logging in with your Betfair username and password. For the purposes of introducing a change to the Premium Charge rate that applies to your betting, we will assume that you have always incurred the Premium Charge at the prevailing rate. For example, if the Premium Charge rate applicable to your betting is now set at 40%, we will assume that you have always paid Premium Charges at 40%. This will ensure that you are considered to have generated total charges equal to at least 40% of lifetime gross profits at the point that the new rate becomes effective. For more information, please visit an FAQ section on our forum. We hope the information provided will outline why we are making these changes and how they will be implemented in practice. Alternatively, if you have any additional questions about the changes we are making that are not covered in the FAQs then please contact your account manager or email premiumcharge@betfair.com. Yours sincerely, |
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needs some better competition, otherwise they will run amok
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one day there will be competitor and the share price will drop like a stone, anyone buying shares in bf should be very wary of this
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A premium charge is needed because there is an unfair advantage on here FACT!!! If there are people out there that always win within gambling, then there is an unfair advantage somewhere so betfair are trying to counteract this with a premium charge! It is only right!
Gambling should be a fun past time of those that can afford it. Should never be allowed to be turned into a 'sport' where a small minority of people are abled to make a living from it. Gambling should be sporting between two 'gentleman' with differing opinions! That is my opinion anyways and also the opinion of many many people i know inc my best friend, whom does make a living from playing poker (he does not win playing the tables, he merely plays often and tries to break even on the tables and gets rake back and competes in various leader boards etc) he does have an avid interest in horse racing and other sports where he can 'trade' on the sports exchange but never has and never will pay a premium charge of any kind! |
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surely they must be capable of finding a way of differentiating between the ones who make money due to genuine betting skill, be it backing or laying, and who provide genuine liquidity to the site,versus those who just ponce off it using bots or timecheating?
I realise that is grossly oversimplified, but you get my point I hope. |
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ahahahahahahahahahahahahahaha
will be bought over within 5 years. |
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That's the final straw for me. Gonna get my buddies at bet daq on the fone.Liquidity is picking up on thereas it is, this should be just what they need to really take off
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I can't believe it. I am so disgusted with this by BF.
Anyway, what is this premium charge you speak of?  |
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just read this i am definately one of the 0.1% and i have no advantage on this exchange at all
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This only affects huge winners who obviously are better informed or more crooked than the vast majority of us.
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All this will do is encourage new sites to open who offer the same service. (Unless Betfair have heard along the grapevine that a new one is to be unveiled and they need to grab as much as they can as fast as they can?)
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The time thieves will carry on though , where else would they be able to layer fallers/dead horses at 60 for 5k
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i am on 60%
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why is really wrong with taxing THEM (who trade on undisclosed info) and giving more cash back to the industry?
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betfair shooting themselves in the foot here.
if people leave when this kicks in - it's thoroughly justified... scandalous... |
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Does anyone know if the PC is applicable to each account or person?
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per person - flying - accounts are grouped for PC purposes!
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Thanks Delta
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Just had the call
I'm on 50% from now on What a bunch of **** |
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i worked mine out shaun i am on 60% if i got it right, how did i get on that with no pic advantage or bots running, unbelievable
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People wont go anywhere else , where would the the thieves go
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It was on the cards when there stock market value kept going down.Guys like MANCHESTERSKYTRAIN who are just very good at what they do (inrunning via ATR/RUK)are being hit, let's not be conned into thinking it's only the cheats who will pay this huge penalty.Everyone on here wants to be a winner and improve there skills as they learn from there mistakes.Seems Betfair don't want you to take gambling seriously,and would prefer you treat it as an expencive hobby.
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so do they take 60% of your winnings???
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They already make 5% per bet whoever wins...so this is just getting greedy now. What else do they do but provide a platform for people to bet ?
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Crazy really , 60% is a ridiculous amount to pay for MST .
Cant see why anyone would stick around and pay that myself |
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i think there are alot of failed punters running bf, they through the toys out seeing successful customers, competition from another continent has to come and bf will pay the price for their actions then
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Had a chat with betfair in March.Was told then that they were looking at a way to tax track players.
Sou a track player shaungoater? |
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Bookies will surely get stuck into this with their advertising. And what about all these BF ads that compare BF SP with bookies SP?
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afternoon shaun, trust you are well
got a message on my answerphone as i was out, i assume it's nothing more than a "this is it message, tough luck" ? read the email and laughed, not surprised at all |
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This could have serious repurcussions at B Ellisons stable,number of horses in training sure to fall.
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