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gross win of £491 & have to give betunfair £223,this would be funny if it wasnt such a disgrace.
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Go Purple.
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So what were your actual odds given return
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Betfair think it only effects those of us who pay it but that couldnt be further from the truth.They are destroying the dream for punters of becoming a pro punter and lots end up giving up which continues to kill liquidity far faster that customers winning.Purple is not an option for anyone who bets in running.
The whole concept of an exchange is the fact YOU ARE ALLOWED TO WIN whereas bookies dont allow you to win long term but Betfair have gone down the same route thus killing the dream for the people constantly trying systems/challenges/stats etc etc. |
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than*
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Totally agree middleman - I would be all in favour of a rise in commission if it rid us of this odious charge which kills the dream as you say.
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its the most ulcerous thing about the company, with half an ounce of luck it will be gone soon
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Hopefully the Ladmakemebrokes takeover of purple might make them think again.
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OP you are obviuosly content to keep paying it despite knowing you are liable to pay such a high percentage of your winnings,you are colluding with it.No sympathy from me though i'm against the premium charge in principle.
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What else is he meant to do lapsy - exactly?
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Bilbo i'm a lower rate payer ie 20%,i've all but stopped on here because simply i wouldn't have the edge to beat a 20% deficit and principle is a part as well,don't see why i spend hours on here to in effect "work" for betfair,nearly all bets now i do are through purple.
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I understand that lapsy and good on you. Everybody works differently though and maybe book can't get his particular bets on at purple. For instance it's not even worth looking at their in-running markets.
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forgive my ignorance
but what is the PURPLE site? |
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thanks for input guys,what i would give to only pay 20%,lapsy, i agree with you but apart from going to purple theres no way around it,bilbo as you say hopefully purple being taken over will get betfair to reconsider but i can't see it
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also betfair are worse then bookies as bookies dont take 1/2 your winnings when you go to collect.
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Bullraider purple is bet daq.
Book didn't mean to sound as harsh as i might have seem to come across,fair play for finding such an edge. As a side note feel desperately sorry for the bigger market makers that used to provide such liquidity,no doubt many were driven off due to the charge. Don't know if anyone remembers Vernon who used to have a very high strike rate in photo finishes,he got ridiculed on here at the onset of the charges,pity more didn't support him at the time. |
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BF are like a heavy smoker, they decided to do it, but even tho they can't see the signs day to day, its killing them and could turn out to be the premature end of them in the long run.
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these threads pop up regularly thesedays and it can be debated til the cows come home but effectively what it amounts to is your edge has gone
 some on here have been the beneficiary of 'soft' markets in the BF early days racked up easy large profits making them liable for high rates of PC, feel your pain but time to find new prey or be preyed upon |
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When they first said they were introducing it it was suggested that they raise the commission rate for big players instead. They did actually give a figure which would give them the same as PC. It was about 4% I think. Very few people supported that on here,though they may have done in private.
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bottom line is its a total disgrace that they can basically nick your money for winning & to make it worse its not their money their losing,do they give money back to the losers ?
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salmon,i am not a big player & it affects alot of normal players,how can justify taking over £220 from a gross profit of £490,absolute piss take.
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Well you can say they nick it when they take commission and I imagine they take more off me than they do you book. Is that fair ?
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hows that salmon ?
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I must admit I am not sure how the 20% tier works. I have never payed it but once worked out I probably should have been,and I am certainly not a big player. But if you pay the higher rate surely you have to have made £250k in profit,which even over 12 or 13 years or so looks a lot to me.
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but thats not the point,why should betfair have the right to nick 1/2 of it from you ? they get commission off every winning bet as it is,sheer greed & i cant wait till another exchange comes along to match their liquidity.
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I suppose I am saying IF I HAD won £250k I would quite happily retire. Given that is not taxed it must be worth about £30k a year,which is still I think just higher than the average national wage ( and I accept that a lot do put in f/t hours on here but it's a lot more fun than stacking shelves at Tesco ). I don't disagree that competition would be nice but you're not going to get the original exchange model from a big company. I don't think the business model makes sense beyond a certain size,unless you can expand abroad and that has proved a problem.
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That's very easy for somebody who has already retired to say, baby boomers have already used up their 'work time allocation' so obviously if somebody offered you a quarter of a mill you'd be happy.
There is no getting round the fact that ppl will feel aggrieved that during this so called 'soft marketing' period BF were simply using their position to grow, if it were 'fair' they would have done it from day one, instead they effectively backdated the tc's for the life of the account. |
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I think book is fundamentally correct in what he is saying, BF need to introduce a cashback/refund system for all registered and consistent PC payers.
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Yes. I am speaking from the position of somebody who is not reliant on winnings on here for a passable lifestyle. My modest winnings on here are the icing on the cake. I can see why people are annoyed but if you are basically reliant on gambling for a living then you have to adapt if conditions change like anybody else who is self-employed. I'm afraid things weren't going to stay as they were once Betfair went public. You can run a private company rather differently. Which is why any chance of the purple site being run long-term like the old Betfair disappeared a few days ago.
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But the government make laws and the individual has to abide by them, a private company who lobbies to get their own way, stabs both the exchequer and their customers in the back and then relies on individuals to take all the risk isn't comparable to real term self employment of an individual is it.
Partly why it's capital and not income |
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Big boss i agree,as someone that has plenty of losing weeks that would be the galling part to pay pc on a winning week.In my own circumstance instead of betfairs marketing of 20% better odds i look upon it as they are giving me 4/5 about an even money shot.
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*the point being that it isn't self employment
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Don't quite follow you dustybin.
The old-style pro gamblers were put out of business by Betting Tax. The PC being a tax on profit not turnover is not as drastic imo. As for the self-employed analogy if I had once been a chimney-sweep I would have had to re-train as central heating engineer. |
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i get 2/1 about a 4/1 shot,thats how disgraceful & unfair a premium charge is.
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That was the point, you were comparing it with self employment that pays tax on profitable income, bf applies a private tax on capital after the government abolished a tax at source. This is gambling with all the risk and with taxation, while they as a company reduce tax as much as possible.
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salmon,the old betting tax was 9 or 10%,not as much as 60 %,no comparison,for people that dont do this to make money ask yourself this,if your boss every wednesday came up to you & said you've worked really well this week so i'm going to take 1/2 your wages for being so good,what would you do ?
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Salmon saying its stealing with the commission well i dont feel like that because that is the charge for using the service which everyone has to pay.It feels like discrimination if you happen to win.
Betfair know that winners have no option but if ever another option becomes available then just dropping the PC wont do it imo,they will have to refund all the stolen money or people will have zero loyalty. |
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its a gambling tax,that the government did away with,so it can't be legal.
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If you won over the lifetime of the account then now you get no relief for losses.
This is gambling not business, they keep arguing that point in court yet take the cake and eat it |
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It's bloody cold now outside on the iPod im off indoors...
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