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10 Apr 24
15:44
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07 Sep 18
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Replies: 30
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yeah it's been acting up lately
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TY
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Old bill ?
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yes..bf need arresting.
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No PC for me this week
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gone now.
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yes, and now 'withdrawals access denied' anyone else had that?
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What is PC plz?
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Personal Computer, rico couldn't find the on switch.
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its a tax burdened upon us by shysters.
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Oh! sorry I asked. I thought it meant something else. I'd not find the on-off switch on my new tv when I first had it; the blinking thing is at the bottom instead at the usual place ie side.
My PC is ok, but for some reason loading free games/promotions at bookie sites has been slow last couple of days despite I always delete cache each day post usage. |
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premium charge
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I'm relatively new to using this BF exchange to back my horse racing selections. As I never lay horses and back to win only, does that mean that the PC doesn't apply to me. I mean articles related to the PC always talk about 'trading'. I don't think I'm doing that am I as I don't use the laying facility?
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Every bet you place is a trade, you are giving someone your business. Then it all comes down to commission generated as to whether they want a bigger slice of your profits.
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wonce you've played on 250 markets and ewe are 5k in prophet and your charges are under 20% you're snared.
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As Swifty says it's all about your commission% and how often you win and lose.
eg: win 110, lose 100, win 110, lose 100. Would generate £20 gross profit with 26% commission rate and therefore you wouldn't be liable for PC until you have over £250k in lifetime profit. but if you win 5, win 5, win 5, win 5. Would still generate £20 gross profit but with only 1% commission rate and therefore liable for 20% PC charge once over £5k in lifetime profit, and 60% PC charge once over £250k lifetime profit. |
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Does anyone actually pay 60%?
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I would be if I didn't take action to stop it.
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ive only ever known 1 who used to be in my office.
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I trade about £25k worth of winners and losers on football per week. Costs me about £500 in losses but saves me £550 in PC charges, plus keeps me with the 40% PC charge threshold.
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How do you keep within the 40% banding, Rico? Would have thought with your trading style you would be 60%?
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Sorry guys, I'm a bit confused. I'm not exactly sure what is meant by a market. I only bet on horse racing - nothing else, so that's just one market isn't it? Horse racing , golf and football would be three separate markets wouldn't it, or is it to do with the number of bets per day? So if I have 3 bets per day on 3 different horses, then is that what they call 3 markets?
So, say I make a clear profit in one week of say £200, would they take 20% commission (ie. £40) from my account? At the moment I have selected the basic 2% commission rate for my account. |
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Moke, you get a £5000 buffer before it would kick in. Each race is a classed as a market. The win market, the place market etc etc.Then in your example it would depend on your total turnover, comm. generated etc to determine if you'd pay PC. If you'd paid them the £40 via commision and you won £200 on the week in total then no PC.
It's one one of those things, don't worry about it until it affects you, and then don't worry about it because there's nowt you can do about it. |
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to go above 40% ewe would need to virtually have no loosers.
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Ah - having thought about it a bit more and read the replies here it seems the PC is applied to the overall profit (if one has made a profit at all) since one initially became a customer in the first place. So I take it that, say, after a few months my profits overtake my losses, they then charge 20% commission of the actual profit on a weekly basis. It sounds like that is how they do it. That's pretty outrageuos if I'm honest. It makes you wonder whether it's all worth the bother.
If everyone on here moved over to ****, then the liquidity of the company would increase and we could all enjoy PC free trading! |
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Thanks Swifty and others on here for your patient assistance.
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Agree with Swifty. Don't worry about it.
If you're just backing one horse per race you're never likely to be affected. |
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Just to add, all this has come about for me because over the last nearly 10 years I have had 10 out of the 12 standard bookmakers either close or severely restrict my account with them (to the extent that they are no longer practically useable), so I'm 'forced' to look elsewhere to place my bets. I can't see how to place multiple (accummulator) bets with the exchanges, so I still need the standard online bookie for those type of bets.
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If you were winning 500 and had to hand over 100 just increase your stakes so you cover it. Simples!
You can't do multiples on the exchange any more it was killed off in 2019. |
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'If you were winning 500 and had to hand over 100 just increase your stakes so you cover it.'
That's an interesting point, but as Jamee has pointed out below, for me I think it's just a case of crossing the bridge when I come to it! |