Forums
There is currently 1 person viewing this thread.
longbridge
01 Oct 19 11:58
Joined:
Date Joined: 25 Nov 10
| Topic/replies: 3,174 | Blogger: longbridge's blog
My Account -> My Betfair Account


There is new option halfway down on the right - "My Betfair Rewards".  Click "Choose Plan" and Select "Basic".

Post your reply

Text Format: Table: Smilies:
Forum does not support HTML
Insert Photo
Cancel
Page 1 of 10  •  Previous 1 | 2 | 3 | 4 | 5 | 6 | ... | 10 | Next
sort by:
Show
per page
Replies: 381
By:
sparrow
When: 01 Oct 19 12:07
Thanks for the alert longbridge. Basic selected.
By:
Charlton2005
When: 01 Oct 19 12:07
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
By:
madhatters
When: 01 Oct 19 12:09
Looks like they have decided to roll it out to all now
By:
dave1357
When: 01 Oct 19 12:09
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.......
By:
posy
When: 01 Oct 19 12:12
Seeing as sportsbook took away bog and 3/1 promotion a couple of years ago the basic package is a no brainer for me.
By:
jmdc
When: 01 Oct 19 12:12
Worst downside is no longer being eligible for the Cash Race!
By:
The Management
When: 01 Oct 19 12:52
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!
By:
Charlton2005
When: 01 Oct 19 12:57
think the managements thoughts are prob only applicable to Willie and kemo

the rest of us will be OK

Grin
By:
RothmanMike
When: 01 Oct 19 13:06
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.
By:
dustybin
When: 01 Oct 19 13:07
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
By:
The Management
When: 01 Oct 19 13:11
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
By:
salmon spray
When: 01 Oct 19 13:23
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.
By:
Charlton2005
When: 01 Oct 19 13:25
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.
By:
dustybin
When: 01 Oct 19 13:29
It's effectively a tax cut for PC payers I think.
Low tax, increased turnover (as the economics goes)
By:
GoBallistic
When: 01 Oct 19 13:37
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
By:
Deltâ
When: 01 Oct 19 13:38
just gets round up to 20% + every Wednesday anyway dont it>?
By:
Charlton2005
When: 01 Oct 19 13:38
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.
By:
salmon spray
When: 01 Oct 19 13:39
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%.
By:
dustybin
When: 01 Oct 19 13:47
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
By:
geoff m
When: 01 Oct 19 13:55
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
By:
Wicklow
When: 01 Oct 19 13:55
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.
By:
geoff m
When: 01 Oct 19 13:57
I know if id have been on 2% from day 1 of Betfair .Id be £30k better off than  i am now!!
By:
dave1357
When: 01 Oct 19 14:01

Oct 1, 2019 -- 1:47PM, dustybin wrote:


Deltâ • October 1, 2019 1:38 PM BSTjust 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)/2SSYes, you will see a marked saving on commission paid


I'm glad you posted this. I just wrote a long post with a calculation demonstrating that saving and managed to delete most of it while trying to edit.

By:
dustybin
When: 01 Oct 19 14:01
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
By:
dustybin
When: 01 Oct 19 14:10
yes dave, I'm always surprised how few seem to know what gets taken and how
By:
dave1357
When: 01 Oct 19 14:14
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.
By:
ItsMeSwaddle
When: 01 Oct 19 14:19

Oct 1, 2019 -- 12:12PM, jmdc wrote:


Worst downside is no longer being eligible for the Cash Race!


Cash race quickly became a farce

Paid 1200/implied combined for 60 quid.

I’m pleased with the 2% deal.

And like someone said above, I wouldn’t of saved 30k if I paid 2 rather than 4 % but still somewhere round 20k, big difference

By:
GoBallistic
When: 01 Oct 19 14:21
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 ?
By:
Wicklow
When: 01 Oct 19 14:21
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.
By:
dustybin
When: 01 Oct 19 14:31
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
By:
dave1357
When: 01 Oct 19 14:35
^^^discount rate doesn't apply on the 2% (certainly not to me)
By:
dustybin
When: 01 Oct 19 14:39
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 Laugh
By:
sparrow
When: 01 Oct 19 15:39
This thread needs moving back to the top.
By:
john92
When: 01 Oct 19 16:15
Could paying less commission mean you end up going in the higher PC band?
By:
salmon spray
When: 01 Oct 19 16:22
You can only go into that if you have made £250k profit surely.
By:
dustybin
When: 01 Oct 19 16:25
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)
By:
longbridge
When: 01 Oct 19 16:27
@salmon not £250k for PC1

https://support.betfair.com/app/answers/detail/a_id/6156/c/483/
By:
longbridge
When: 01 Oct 19 16:28
Apologies Salmon - I answered the wrong question.
By:
howard
When: 01 Oct 19 16:36
So are we finding out about all this just from the forum ?Silly
Page 1 of 10  •  Previous 1 | 2 | 3 | 4 | 5 | 6 | ... | 10 | Next
sort by:
Show
per page

Post your reply

Text Format: Table: Smilies:
Forum does not support HTML
Insert Photo
Cancel
‹ back to topics
www.betfair.com