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My Account -> My Betfair Account
There is new option halfway down on the right - "My Betfair Rewards". Click "Choose Plan" and Select "Basic".
There is new option halfway down on the right - "My Betfair Rewards". Click "Choose Plan" and Select "Basic".
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Replies: 381
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Thanks for the alert longbridge. Basic selected.
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Thanks Longbridge. Looks like an obvious thing to do if you don't play on Sportsbook? Any downside? I have opted in and we'll see how much they charge me today.
Cheers |
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Looks like they have decided to roll it out to all now
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I've been on it for months. The "downside" if there is one is that winners will just hit premium charge a bit earlier than they would have. I foiled there plan in that regard by going on my biggest ever downswing.......
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Seeing as sportsbook took away bog and 3/1 promotion a couple of years ago the basic package is a no brainer for me.
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Worst downside is no longer being eligible for the Cash Race!
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Maybe I have been here too long or maybe it's my previous line of work - but I'm a cynical old begger.
The 2 most obvious downsides have already been pointed out - No Cash race (is that even a downside?) and if you are a winner, this will likely accelerate your journey towards PC. Being a cynical old begger and remembering only too well how the PC was first introduced; i.e. Retrospectively!! - Using your retrospective behaviour/figures (about which you could do nothing at all at that point in time), to trap people unwittingly into a levy which, had it not been introduced retrospectively they might have been able to legitimately avoid by behaving quite differently. So my cynical concern for people not already caught in that trap (say paying 4% now and thinking 2% instead looks an absolute no-brainer) would be to to consider the impact that will have on the relationship between your commission paid and your Gross Profit. That in itself isn't (necessarily) a problem - but what if BF were (in the future) to change the way that PC is applied? It would seem very unfair to do that retrospectively (imo) - but it didn't stop them the first time. Maybe I am being way too cynical and BF just want to reward their loyal customers whilst increasing liquidity. Food for thought though (imo). If I could start over again (knowing what I know now), my M.O. would be very different from the path that I chose first time around when I thought I was joining a revolution! |
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think the managements thoughts are prob only applicable to Willie and kemo
the rest of us will be OK  |
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Been on 2% for 4 months now, excellent offer.
Thought it was a Loyalty thing, but definitely no downside. Just hope they don't cease it after Brexit. |
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At face value its good for PC payers
The lower the commission paid the better. Whatever rate you are on now, take 2% off it then half it. For eg 4%-2%= 2%/2= 1% The 1% is the benefit you will make on all your gross wins on the exchange. If you win say 5k a week then over the year you'd pay £50x52 weeks (£2600 less total to bf) *think I got this correct |
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My (long-winded) post was really aimed at consistent winners that are not yet paying PC.
It's probably a good offer for the majority - i was just adding a potential reason for being cautious. If it seems too good to be true.... etc |
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I see The Management's point.
I'm basically an amateur but I am in profit. Only once came a bit close to paying the PC though and at the moment am a long way off. They COULD find it easier to catch me if they do as he says and change the rules retrospectively but I think I'll risk it. |
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The Management
Date Joined: 27 Dec 00 Add contact | Send message 01 Oct 19 13:11 Joined: 27 Dec 00 | Topic/replies: 1,483 | Blogger: The Management's blog My (long-winded) post was really aimed at consistent winners that are not yet paying PC. It's probably a good offer for the majority - i was just adding a potential reason for being cautious. If it seems too good to be true.... etc My take would be that it is simply in response to competition. As a small player I can play on smarkets for certain bets (especially football) so happy to do that for 2%. Now I won't. |
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It's effectively a tax cut for PC payers I think.
Low tax, increased turnover (as the economics goes) |
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Are they really rolling out 2% commission to all without even telling their existing customers about the option, let alone a big PR fanfare ? This company is truly weird
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just gets round up to 20% + every Wednesday anyway dont it>?
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yeah, I did wonder about that! Had to have Longbridge direct us to through 5 layers of menus to get to see we had that option.
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It's a tax cut for most of us I think. I am quite happy to admit that I have never been below 4.5% and usually vary between 4.7& and 4.8&. I suspect there are quite a few around who's norm is the 5%.
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Deltâ • October 1, 2019 1:38 PM BST
just gets round up to 20% + every Wednesday anyway dont it>? That doesnt matter, thats no where you save. You save in the way they calculate how much PC still needs to be taken (gen comm being actual comm plus market comm)/2 SS Yes, you will see a marked saving on commission paid |
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Up and running .
Jobs a good un.01-Oct-2019 13:54 Period: Download to Spreadsheet ? (relates to event settlement date) 2019-09-30 23:00 (yyyy-mm-dd hh:mm) to 2019-10-01 13:54 (yyyy-mm-dd hh:mm) Horse Racing: £25.48 Total P&L: £25.48 Horse Racing > Ayr 1st Oct : 1m App Hcap Showing 1 - 2 of 2 Selections Selection Odds Stake(£) Bid type Placed Profit/loss(£) Chinese Spirit * 34.00 10.00 Back -10.00 Chinese Spirit * 19.25 36.00 Lay 36.00 *Average odds: On Off Back subtotal: -10.00 Lay subtotal: 36.00 Market subtotal: 26.00 Commission @ 2%: 0.52 Net Market Total: 25.48 |
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So is this a new thing from the 1st october??
As a 40% payer does it really matter if you pay 8% or 2%, as your just going to have the remainder taken from you on the wednesday?? Interesting to see what the general concensus is on this. |
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I know if id have been on 2% from day 1 of Betfair .Id be £30k better off than i am now!!
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Wicklow, it does make a difference
The lower your commission rate the less is lost in stealth in the calcultation The greater the % over 3% (market rate) divided by 2 is the amount you lose So 2% should be the choice unless that other stuff is beneficial to you |
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yes dave, I'm always surprised how few seem to know what gets taken and how
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On the simplest level
If someone was on 4% an simply wins £200 (no losses) in a week, now pays £4 commission, they are going to be credited with £2 of the £4 (under the (w+l)/2 calc) and pay £18 extra - total £22, before they would be credited with £4 of £8 and pay £16 more - total £24. |
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The rewards plans don't say anything about the Discount rate. I assume if you are 2% then the Discount rate does not apply whereas if you are on 5% (or 8% !!) then it still does ?
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cheers dave/dusty
My normal rate is 2.7% so its not going to make very much difference, but have selected the 2%. But theres been communication from BF on this - you would think you might have got an email about this. |
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you'll save 0.35% of all your wins
So if you win overall and on a low com naturally of 2.7 they will be a significant figure |
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^^^discount rate doesn't apply on the 2% (certainly not to me)
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It is strange there has been no mention
But when you think they cant really say anything to PC payers because theyd have to admit how much they have been losing to show the advantages of it, and given most ppl dont seem to realise and that the promotion says 'beta' they might take it away again and ppl will then be in the know  |
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This thread needs moving back to the top.
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Could paying less commission mean you end up going in the higher PC band?
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You can only go into that if you have made £250k profit surely.
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john92 • October 1, 2019 4:15 PM BST
Could paying less commission mean you end up going in the higher PC band? Technically yes....but you'd have to be right on the boarderline. Half of the amount the save (as the other half is simply stealth and the realisation of what you actually paid rather than what they calculated you did) would push you closer (all things being equal) |
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@salmon not £250k for PC1
https://support.betfair.com/app/answers/detail/a_id/6156/c/483/ |
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Apologies Salmon - I answered the wrong question.
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So are we finding out about all this just from the forum ?
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