Posts Tagged premium charge
Will I make a profit this week?
Posted by Peter Webb in Bet Angel on November 12th, 2009
Yes and no I guess?
Yes I will make a profit, but technically I will right up against the wall, why?
Last week with the Melbourne Cup, Breeders Cup, the UK racing and the champions league it was a busy week. This week there isn’t a great deal on the card. On Wednesday the premium charge came out for last week and it was a big one. This week I may struggle to get in a day what I managed in just one race last week. Net result, I will probably spend most, if not all, this week working for Betfair. Boo hoo.
Premium charge anniversary
Posted by Peter Webb in Bet Angel on September 24th, 2009
It seems to have slipped quietly into the background, but in September last year we saw the announcement of the premium charge. After the furore of last year, there seems little fuss to ‘celebrate’ the anniversary. Maybe there really are only a few payers of the charge?
For my part, Betfair was an easy sell in the past. Get better odds and trade sports like financial markets. But the premium charge muddied that message somewhat. I think the post by Armida summed it up nicely.
I guess some of response to the charge comes from your perspective as well. If you have come from a background of successful involvement for a number of years then any new charge is going to hurt when the market is not growing at a core level, you don’t expect to pay more to get less. If you don’t have that background, then you have a different perspective and it turns into just another hurdle to overcome on a market where there are many. With the high level of churn in these markets, I imagine that helps bury any changes.
Speaking of changes, Betfair are due to tweak the charge again in October, in case you missed that announcement. I can’t see any mention of this anywhere other than in this thread so if anybody lets me know if there is an official announcement I’d be happy to link to it.
Betfair to change premium charge
Posted by Peter Webb in Bet Angel on August 11th, 2009
During the forum chat with Betfair on Monday evening it transpired that Betfair are going to change the premium charge. Obviously not to traders advantage by the look of it. Join the debate on the forum.
Biggest premium charge?
Posted by Peter Webb in Bet Angel on February 25th, 2009
I was passed some information this morning that indicates that at least one Betfair customer paid fees of some sort somewhere in the region of £200-250k in the last three months of the year! Puts things into perspective doesn’t it? It also makes you wonder just how much money is being generated in premium charges? It will be interesting to see where it ends up on Betfair’s next annual report. If they are spending it to get new customers then that’ll be great, but I have to say it doesn’t feel to me like the horse racing markets are growing in all honesty. We’ll have to wait for answer to both I guess.
Premium charge online
Posted by Peter Webb in Bet Angel on January 26th, 2009
Just been emailed this link: -
https://premiumcharge.betfair.com/PremiumPortal/portal
By the look of it it appears to generate your last premium charge statement, or at least the front page of it. Despite efforts to reduce the charge mine still makes grim reading. But I suppose in some ways I should be thankful that is the case.