U.S. Horse Racing
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I guess BF is just trying to get rid of us.
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Going from 5% to 6.5% commission is ridiculous. Canadians already were at a disadvantage with the discount rates almost impossible to attain. Without doubt, this move is going to hurt liquidity on US Horse Racing. A quick calculation tells me I'm going to pay $3,000 to $4,000 more in commissions....provided I don't leave.
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Betfair purchasing TVG for 50 million USD several years ago was a big mistake. All this did is alert the authorities in the U.S. and Canada of their existence and has created problems for Betfair. They are now restricted to what tracks they can offer markets on. And the ones that are now being offered are most likely demanding a fair cut of any profits - Betfair may have not paid anything to them before. The Canadian government likely has their hand out now as well. Not to mention the cost for Betfair to get access to extra fast video feeds in order to ensure quick removal of scratched horses and suspension of races - issues that people constantly whine about on here. If only Betfair stayed put...... Betfair should offer a market on whether or not a legal exchange bet will actually take place on U.S. soil. I would lay heavy money on it. I have cut down my betting on here after they increased rates on Canadians a few months ago. Not sure what I will do now - 6.5% just too high. Remember Betfair is not the only betting exchange offering markets on U.S. Horse Racing.......
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I believe it would be beneficial to Betfair to explain to their customers the need for the increase. Speculation causes anxiety.
Cost of doing business ? Government fees ? Track fees ? Incompetence ? Corporate greed ? Expansion ? Raising rates 30 % and sending out a ridiculous (week in advance) letter stating Betfair offers up to 60% discount off the increased 6.5 % take-out is in poor form. Shameful. Racetracks raise take-out. Result : 14 Closed race tracks over the past 15 years. |
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kingbit
are the 14 closures in canada or the us? |
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Times are hard enough without the increase in commision, tonight I joined Purple... only 3% for new members.
Really enjoyed my time on Betfair but if this is the sign of things to come... no other choice. |
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only a matter of time before they increase the rate for the UK.
And then the exodus will begin. |
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No 1-800 number for Canadians anymore......
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Dav_vin03 USA and Canada.
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Betfair , trying to maintain profits while their exchange crumbles will one day reap what they sow.
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very true rat.
what we now need is purple to grow. |
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So one day that they can pull the old switcheroo as well. Ladbrookes wouldn't mind driving Betfair out of business so that they could revert back to old times. Really guys, totes become your only other option. A track like tampa is offering 18.6% on doubles, win 3's, pick 4's, high 5's. Betfair can't touch that.
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how do you bet tote from the UK?
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Highest commissions ever, least amount of racing as ever.
Where has Parx been on SAT & SUN? Too much trouble to load it? Where is Gulfstream today? Does BF not want to make money? |