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Just got a warning call and email from BF about turnover tax. Over weekly theshold. Was aware of Premium Charge but not this one. Annoying
 
Just got a warning call and email from BF about turnover tax. Over weekly theshold. Was aware of Premium Charge but not this one. Annoying


Yeah would appreciate some detail re this. You don't have to give us t/o figures, but POT figures can't hurt, and any colour you can add to the illustration.

FWIW I've been a very valued customer of BF for many years, about 3 weeks ago I used their best of 4 product, for probably 2 weeks, or less. TBH it was less, when I work it out.

Anyway, I get a phone call from Josh my acc manager... "yeah sorry mate this isn't a phone call I like to make, but we have to bar you from our" blah blah blah.

I sincerely hoped that my exchange history etc would mean they'd cop a bit of a hit on the bO4 and hope that I'd spread it around a bit, as I would.

But no.
 
Yeah would appreciate some detail re this. You don't have to give us t/o figures, but POT figures can't hurt, and any colour you can add to the illustration.

Dear Mr _____

You may be aware that certain Australian racing bodies are now charging wagering operators a fee based on the ‘turnover’ generated on their markets.

Betfair has introduced a turnover charge which applies to customers who meet certain thresholds.
We wish to advise that last week (Monday to Sunday GMT) your account met these criteria for first time. You generated $XXXXXX worth of Turnover Charge fees, however we have waived this amount as this is the first time you have been affected.

The charge will only be applied on those markets in which Betfair pay fees based on turnover. For a complete listing of these jurisdictions visit-

http://betfair.com.au/turnovercharge/states_tracks.html .

For further information about the turnover charge visit-

http://betfair.com.au/turnovercharge/

This charge applies to customers who during a week:



• have matched back bets on 50 or more markets which Betfair is subject to a turnover fee from a racing body (‘turnover charge markets’);
• have matched back bets with an aggregate value of $2000 or greater on turnover charge markets; and
• the total commission generated by the customer on turnover charge markets is less than 1.5% of the aggregate value of matched back bets placed by the customer on those markets.

Total commission generated is half of the commission paid plus half of implied commission, calculated by the formula = (commission paid + implied commission) ÷ 2.

Implied commission is 3% of player losses where players make an overall loss on a single market.
Turnover charge markets will be identified in the grey text of the market view.

To ensure our valued customers are given an opportunity to reassess their betting habits should they wish, we are offering you a ‘grace period’ before becoming liable to pay this charge in the first instance. You will not be charged this week, however you will be charged if you meet the criteria going forward. Therefore you cannot become liable to pay this charge until the next weekly cycle commences on the first Monday following this email.
Betfair is able to provide you with a statement of your betting activity for the week during which you would have incurred this charge, other than for the grace period.

WHAT IS THE CHARGE?
- The turnover charge will be 1.2% of the aggregate value of matched back bets on turnover charge markets.
- The charge will be calculated for the period from each Monday to Sunday GMT, and will be payable on a retrospective basis. The charge will be debited from a customer’s UK wallet each Wednesday, alongside any applicable premium charge.

The charge will only be incurred for any week when your betting activity meets the criteria.

Please note the charge will not be applicable to any lay bets or TOTE bets

Should your account continue to incur the charge, your statement will not be automatically be sent to you, however you can access and download your statement from

https://reports.au.betfair.com/
 
So it will really only impact if you are trading, and trading in NSW, WA, SA on the 3 racing codes. Also only includes back bets, not lay bets.

Also, if you lose for the week, but are over the threshold, you still have to pay the TO charge.
 

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Can anyone out there tell me what is the best UK based website/app for betting on AFL.
I live in the uk and want to bet on something i know about.. What site hasthe most variety, eg multis etc and if possible, in play betting?

Cheers
 
Don't use any of the promos on Ladbrokes/Bookmaker and expect to not get banned from them. Amateurs.
too many double negatives - you have confused me!

I was going to sign up with Ladbrokes - are they no good?
 
too many double negatives - you have confused me!

I was going to sign up with Ladbrokes - are they no good?

They're ok. Definitely worth having if they have their double fixed odds in G1s again for the horses

Apparently they limit or ban winning punters quicker than most (Not something i have to worry about) but worth having as an extra bookie still until that happens
 
My sportingbet acct got restricted, allowed to win 2k in metro, 1k provincial, less in the bush. I rang them up, they increased it to about double that at my request. Very good of them I thought.

Bookies shouldn't have to let you on for as much as you want, but what they've increased my limit to counts, IMO, as a fair and reasonable amount. Wish other bookies, like sportsbet and bet365, did same.
 

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