Betfair premium charge has got even worse in the last year?

Bucking Bronco

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May 5, 2014
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I seem to remember it was that you wouldn't start getting a premium charge (20% at the time) until you had made $400K of profit and then it would work it's way up to 60% once you had reached $1M or more.

Now reading through the stipulations on their site, provided you have made over 250 bets they will start taking essentially 20% commission from every winning bet straight off the bat, and then once you reach $400K it's now 40% and then I'm guessing 60% comes way quicker too.

Pure insanity.
 
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54Dogs

Norm Smith Medallist
Feb 18, 2008
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I seem to remember it was that you wouldn't start getting a premium charge (20% at the time) until you had made $400K of profit and then it would work it's way up to 60% once you had reached $1M or more.

Now reading through the stipulations on their site, provided you have made over 250 bets they will start taking essentially 20% commission from every winning bet straight off the bat, and then once you reach $400K it's now 40% and then I'm guessing 60% comes way quicker too.

Pure insanity.
1) The criteria has not changed for over 5 yrs

2) You have misunderstood it completely

3) You missed the key condition which means that 99.5% of BF punters do not pay the PC


I hate the PC, it stinks, but important to attempt to be factual
 

Bucking Bronco

Senior List
May 5, 2014
287
426
AFL Club
Fremantle
1) The criteria has not changed for over 5 yrs

2) You have misunderstood it completely

3) You missed the key condition which means that 99.5% of BF punters do not pay the PC


I hate the PC, it stinks, but important to attempt to be factual
I hope you're right.

I don't remember the 20% thing when below £250,000 thing, although when I was "getting" premium charge I had had less than 250 bets so they weren't taking anything from me.

I seem to recall that it wasn't until you hit £250,000 of profit that any increase in commission outside of something nominal like 5% occurred.

I guess I was wrong?
 

54Dogs

Norm Smith Medallist
Feb 18, 2008
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The 250K has always been max level. The PC rule has been in place with the current rules for a while for customers in profit who don't pay enough commission.

The key is the commission clause, a normal BF punter will have well over 20% commission. Say you pay 4% commission for wins and inferred commission for losses, which is how they calculate it. You might turn over say 100K and if you were and absolute gun with say 10% POT you are 10K in profit. But you have also paid 4% of 100K in commission, so 4K. Plus the inferred commission on your losses. So your commission on profit is well over 20% and you are nowhere near paying the PC even at the minimum level.

My BF account manager sent me a statement a couple of months back as I was worried about it. Turns out I am approx 20K in profit but have paid around 50K in commission, so would need to be around 250K in profit with 50K commission to even be close.

Very few have to worry about it and those that do are generally trading, and either trading with bots or multiple options within the one market which reduces commission significantly.
 
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