There is currently 1 person viewing this thread.
These 276 comments are related to the topic:
Premium Charge Increased to 40% - confirmed by Betfair
Premium Charge Increased to 40% - confirmed by Betfair
sort by:
Show
per page
Replies: 276
|
By:
How can this be right.....
Week Beginning / Profit & Loss / Premium Charged paid 18th July - 10k 0 25th July - 10k 0 1st Aug - 10k 0 8th Aug + 2k 1200 feck me you could be losing 30k and have to stump up 60% of a 2k profit what a kick in the guts having to give them back 1200 |
|
By:
commander
28 Jun 11 15:16 Joined: 03 Jan 02 | Topic/replies: 144 | Blogger: commander's blog And all this begins from the 18th July, in just 20 days time. It appears they are in an almighty rush. I thought at worst they would have given you a months notice. You not been watching the BF share price then? About as popular as the pork pie stall outside mecca's main entrance |
|
By:
No one seems to have pointed out that SOMEONE pays commission on all your losing bets too.
|
|
By:
If you are affected then it's probably a good time to move elsewhere
|
|
By:
can you point me to where i can move to 90% of my bets are inrunning from home
|
|
By:
Trigger the truth 28 Jun 11 15:22
Never paid, currently at 30% and find mysen slap back in the middle from 3 weeks onwards!!! absolute disgrace they are, im sure they cant get away wi it what % will you be starting from on 18th july dont know how they work it out but i will be starting from 41.8% This means you are eligible to incur Premium Charges at higher rates. From 18th July 2011, the Premium Charge rate applicable to your betting will be 40%. Please note that 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 Premium Charges at the prevailing rate. This will ensure that you are considered to have generated total charges equal to at least 40% of your lifetime gross profits at the point the new rate becomes effective. As of 20th June 2011, had you always incurred Premium Charges at 40%, you would be considered to have generated total charges of £173235.00 which is equal to 41.8% of your lifetime gross profits at this time. Therefore, you will not incur Premium Charges until you have won at least 18343.35GBP before commission |
|
By:
 imo |
|
By:
£173235.00
no comma?  |
|
By:
yes wazza no comma taken from the terms betfair site have yuo looked yet
https://terms.betfair.com/terms/ |
|
By:
Just up sticks and move to the competition
|
|
By:
As of 20th June 2011, your exchange betting activity can be summarised as follows:
Lifetime net profits = £330074.00 Lifetime commission generated = £70771.00 Markets bet = 36391 Lifetime gross profits = £414744.00 Lifetime commission generated to gross profits ratio = 17.1% no comma there either |
|
By:
edited
|
|
By:
Just for interest I watched the money matched on the 4.00 Brighton.
Half an hour before the off, The Purple Place = 27,000, BF = 54,000 I thought, "Not a lot of difference really". At the end of the race: The Purple Place = 216,000, BF = 1.26M That's the answer for all the people who say, "Go somewhere else". Still a sickener though. You'd be better taking 95% all the time than getting discount and paying it back like this. |
|
By:
henke, foook all that, you can abuse my hole for money if you like
|
|
By:
50p?
|
|
By:
what % are you on warrack
|
|
By:
business model must be starting to look ugly imo
|
|
By:
business model looking ugly?
what about just working out if you want to BET here ffs. An extra layer of complexity on top of the math conundrum that was the original money fleecing PC |
|
By:
A classic post which unfortunately needs to be updated
 SEPTEMBER 2001 Joe Punter: Twenty tenners please. Betfair Bob: You would be better off putting that on Betfair rather than this betting shop, It could be as much as 40 on there, less 5% comm, gives you over 37/1. Joe Punter: Really? I will have a look at that. SEPTEMBER 2008 Joe Punter: Twenty tenners please. Betfair Bob: You would be better off putting that on Betfair, it could be as much as 40 on there, less your commission, which is your net winnings multiplied by the Market Base Rate, after your Discount Rate is converted from your Betfair Points Total, and applied to the Market Base Rate, unless of course, you have taken a Betfair Holiday, when your Betfair Points will not be credited, so your Discount Rate will remain the same, but you won't be subject to a 15% decay in your Points Total at the end of the week. However, if you win you may qualify for the Premium Charge of up to 22.5% which is dependant on your forthcoming weekly profit in relation to the commission payable for that week or on a rolling 60 week average, which is when your commission and implied commission is calculated and divided by two, which is ok because it can be offset against the £1000 Premium Charge allowance, and at the end of the week you find out what price you got. Joe Punter: Twenty tenners please. |
|
By:
Amazed somebody who is worried about paying more PC doesn`t know Betquak measure the amount matched differently. Makes it look like they compete more closely than they do.
|
|
By:
arrr the good old PC allowance.....that never even existed, remember it well
|
|
By:
Increased to 40% must be something to do with their 44% fall in share prices since it begun.
 David Yu, who has held the chief executive's job for close to six years, said he did not intend to renew his contract when it expires in October next year. News of Mr Yu's departure, first revealed in The Daily Telegraph last week, comes amid shareholder discontent over the leadership of the group since flotation. However, sources said it was Mr Yu's decision to move on. Betfair is set to launch a full internal and external search for a successor but is expected to settle on a candidate from outside the company. Finance director Stephen Morana is not thought to be interested in the job. In a short statement released yesterday, Betfair said: "David Yu has informed the board that he believes it is now the right time for the company to start looking for his successor... During the process of identifying his successor, David will remain fully committed to the company and to delivering the plans for future growth." Mr Yu joined Betfair as chief technology officer in 2001, helping develop the systems that underpin the exchange. He earns a salary of £500,000 a year and is not expected to receive a pay-off as he will work out much of his contract. He is likely to leave before October next year. Chairman Ed Wray said: "We understand why after 10 years David would like to start thinking about the next stage of his career." Betfair's shares fell 16½ to 726½p – against a £13.00 float price – on news of Betfair's succession plans as analysts expressed surprise that the chief executive was stepping down after a relatively short time leading the company as a listed entity. "The timing of this news, only eight months after the IPO, is disappointing," said analysts at UBS. "We expect the shares to weaken further on this news... We doubt that Betfair can deliver the top line growth and margin expansion that the market expects." Nick Batram, an analyst at Peel Hunt, was positive on the management change. "We see this as part of the process to reinvigorate, refocus and remarket a business that has endured a difficult start to life as a listed company," he said. Betfair will tomorrow publish its first full-year results as a public company with analysts forecasting core earnings before interest, tax, depreciation and amortisation of about £73m. |
|
By:
henke
Total Charges £ 38,336.73 Total Charges % 22.66 this is an acc i last used 5yr ago till i returned last nov. |
|
By:
was on 42% wen i returned in nov.
|
|
By:
i seen Mr yu at ascot...
i shouted "hey yu"..he looked and said "who me"..i said "yes yu" |
|
By:
^
|
|
By:
People being naive here thinking it's only people playing with an advantage through fast pics. My view is we all look for advantages whether that's just more form study, better Internet, whatever. I'm in favour of charges being tiered to your profits but these changes are ridiculous. I'd also like to know that a strict percentage of these charges are going back into racing. The earlier comment that betting should just be fun is utter garbage. Every time you place a bet you have chosen to do this knowing you don't know who your playing against it is your choice to bet.
The charges should be more staggered and kick in at much lower level. |
|
By:
The misguided fools on here who say the winners deserve to pay more need to get a grip.
If you resign yourself to the fact that you will never get to that level then I suggest to save yourself a lot of heartache and loads of money and pack in betting now! It does not effect me YET, but will in the coming months, I am glad they have do it. This really is the final straw, 20% was tough but i sort of understand their argument, and although I wsa (am) reluctant to pay it, i can still make a living. This will mean I can't, so have no choice than to go to ****, and that means i take 5 million plus worth of liquidity with me. **** is at such a level now that I can make it work, given that the higher rollers will almost certainly go too, it means that there is a huge shift in exchange power coming. Will the last one out please turn off the lights? Betfair, thanks for the good times, but you have lost touch with what people want from an exchange and why you were so successful. Adios |
|
By:
terms.betfair.com
look in there warack will give you a statement and where you will start from on july 18th |
|
By:
Salmon - was your last comment aimed at me? I know next to nothing about ****,
it's years since I had a punt there. As for premium charges - they won't be applying to me for a long time yet... if ever. |
|
By:
**** = the purple place
|
|
By:
im well under the 250k henke on this acc.
|
|
By:
Another point is why offer incentives with reductions in commission rate if going to just giveth and taketh away later! Might as well just stick to 5% commission for all?
|
|
By:
cut mr yu's 500k wages?
|
|
By:
wonder if they might link the old acc you used to use wazza ?
|
|
By:
3DUCKEGGS
The charges should be more staggered and kick in at much lower level. Disagree. Should up the max instead, if you're staying - pay |
|
By:
the charges will kick in at a lower level
that will be the next move from them |
|
By:
Mr Yu got sacked due to the share price shocker
|
|
By:
columbo croaked it koo...who cares..
|
|
By:
so laying fallers now only nets in running thieves 40%? - thats a real shame
|