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Flat 2%!
Flat 2%!
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Replies: 381
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it was announced months ago, but for some reason it was apparently only available to some customers. Maybe some eligible people never looked in the right place? Maybe betfair messed up the rollout?
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i think its been there for few months, or maybe then it was to a select few
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sorry dave
 , didnt see yours |
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@howard unless you make a point of loooking at the "Promotions" tab on the site, I guess so.
https://promos.betfair.com/promotion?promoCode=BETFAIRREWARDS |
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anyone know if you take one of the three options, are you allowed to change options in a month/ 3 months etc or just go back to normal
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"You can change to a different package at any time by contacting Customer Services. Changes take effect on the 1st day of the following month."
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I looked in promotions as well as checking emails and I can assure everyone that only a limited number of people received the offer.
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thx
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just received this email ..........
We’re writing to you to communicate a new product called ‘My Betfair Rewards’ which will replace existing commission, points and discount rates. ‘My Betfair Rewards’ is an exciting new feature which allows you to choose your preferred package of bonuses and commission rate. Depending on the package you select you will receive bonuses and perks monthly when you bet into 20 or more markets on the Betfair Exchange. Bonuses range from free accas, gaming spins and a refund on monthly net losses. You will need to visit this page hosted in my account to choose your package within the next 3 weeks. If you do not choose a package by October 22nd you will automatically be enrolled into the ‘Rewards’ package where you will pay 5% commission and be eligible to qualify for a variety of promotions and bonuses. More detail is available here which includes a FAQ section. Regards, Betfair |
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ditto
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Just opted for basic myself, didn't know anything about it.
Thanks for the info. |
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Been on Betfair since the beginning and this is without doubt the best news possible.
Is there any point in the other exchanges remaining open? |
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This 2% rate in no way will affect current pc payers. Fact.
Whether they take 2% now, 0% now, 10% now, every Wednesady they still take their 20/40% chunk, minus what you have already paid. Only going to benefit the non pc payers. You're better off choosing some sort of free spin thing if you're paying pc, for what good that will do you |
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Slightly different email - from Betfair - just received ...
Dear We’re writing to you to communicate a change to the Betfair Exchange commission, points and discount rate structure. ‘My Betfair Rewards’ will replace existing commission rates. You have 3 weeks to select a preferred package of bonuses and commission rate here hosted in my account. If you do not choose a package by October 22nd you will automatically be enrolled into the ‘Rewards’ package. More detail is available here which includes a FAQ section. Regards, Betfair |
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This 2% rate in no way will affect current pc payers. Fact.
Whether they take 2% now, 0% now, 10% now, every Wednesady they still take their 20/40% chunk, minus what you have already paid. It will make a world of difference if you only have a 3% edge. I'm on 40% and I much prefer paying 2% and PC than 5% with no PC. |
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No - It makes no difference - you are just deferring a certain percentage until Wednesday, You obv don't pay pc.
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anywun currently on 40%PC/3.6% comm...
1 bet wins £1000 = Gross profit £1000..net £964 charges = £36/2 = £18 PC @ £1000 x 40% = £400 -charges £18 = £382 PC. wins £582 now,anywun currently on 40%PC/2% comm... 1 bet wins £1000 = Gross profit £1000..net £980 charges = £20/2 = £10 PC @ £1000 x 40% = £400 -charges £10 = £390 PC. wins £590. |
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If on average you win £1040 gross and lose £1000
On 2% you make a profit and on 5% you make a loss. |
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Ok, how will taking 2% have any effect on this -
Commission & charges from last week September 23rd, 2019 - September 29th, 2019 Gross profit & loss £2,517.23 Commission Other charges Total charges (5.9%) £148.62 + £0 = £148.62 This week’s premium charge prior to allowance deduction Available allowance Premium charge this week Your remaining allowance is £354.82 - £0 = £354.82 |
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You need to sort your maths out, this has nothing to do with edge - it has to do with percentages - If i want 20% of your winnings next week, does it matter if i take 8%, 5%, or 2% now?
When that amount is DEDUCTED form the 20% next week? |
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They use commission generated, not paid so there will be a slight difference.
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Yes - thats why there are
Total charges (5.9%) £148.62 - Because there are obv losses But they take there 20% Because - !4.1% remainder of the 5.9 = 354.82 |
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tiny , can you show your workings like willie has please
thanks |
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No becuase he is calculating pc per bet - this isn't the case in real life - its done at gthe end of the week, totalling all profits and losses
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onlooker mentions an email above, has everyone had an email because i've not seen any communication from bf in months
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I received that exact email today
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thanks
as well managed and communicated as ever then |
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The first I knew of this was when I read the OPs post this morning.
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I received that exact email today
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I received no email either and was put on the BASIC plan by default it seems. My worry is what happens to your betfair points should they revert back to the old system. I was only paying 2.1% commission anyway and don't want to start again at 5%! I opened a chat session and it seems that these plans are here to stay; the old points system has gone.
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so just to clarify, if you do nothing you'll stay on current rate not 2%
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If you're paying PC, you're better off taking the8% option - although if you are you won't be able to get a bet off on the sportsbook.
Get a chunk of your commission paid ( that will be paid anyway) and get some ****** bonus. |
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elise - yes
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‘My Betfair Rewards’ will replace existing commission rates. You have 3 weeks to select a preferred package of bonuses and commission rate here hosted in my account. If you do not choose a package by October 22nd you will automatically be enrolled into the ‘Rewards’ package.
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apologies already posted by Onlooker.
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ty
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7% edges are things dreams are made of. Take tinytuco's advice and become a loser.
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Tiny needs to go and read how PC is taken and stop giving bad advice that’s incorrect.
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Even if you have no loses 2% is by far the best option if you pay pc. Higher turnover and its even clearer. My worry would be that implied commission remains at 3%
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Thanks for the info longbridge. I changed to basic and have only now received e-mail from BF!
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