If you’re an advanced Betfair trader or punter, the new Expert Fee might impact how you operate. This fee is aimed at profitable users on the Betfair Exchange who surpass specific earning thresholds. Here’s a breakdown of what it is, how it works, and why it matters.
My aim in this post is to list the key aspects of the Expert fee. For full details you should visit – https://support.betfair.com/app/answers/detail/expert-fee-faqs
What is the Expert Fee?
The Expert Fee is a new charge introduced by Betfair for users whose Last 52 Active Week Gross Profit and Loss (P&L) exceeds £25,000. It is designed to ensure that highly profitable accounts contribute to Betfair’s ecosystem in a balanced manner while not burdening smaller users.
Who Does the Expert Fee Apply To?
To be considered for the Expert Fee:
- Your Gross P&L for the last 52 active weeks must be greater than £25,000.
- You must have placed bets in more than 100 Betfair Exchange markets.
Betfair calculates your Gross P&L as:
Total amounts won (excluding commission) minus total amounts lost on all Betfair Exchange markets.
How is the Expert Fee Calculated?
Betfair assigns a fee rate based on your Last 52 Active Week Gross P&L:
| Gross P&L | Fee Rate |
|---|---|
| Less than £25,000 | 0% |
| Between £25,000 and £100,000 | 20% |
| Over £100,000 | 40% |
The fee you pay depends on this rate and your weekly profit:
Key Components of the Calculation
- Buffer
If you’ve previously had losses or generated significant commissions, Betfair applies a Buffer to protect against overcharging. The buffer is the higher of two values:- Past commission generated since the last fee payment or rate change.
- Your Gross P&L performance since that period.
- Commission Generated
This is the sum of:- Half the commission you pay when you win.Implied Commission – which accounts for Betfair’s earnings from other customers in markets where you’ve lost.
When is the Expert Fee Assessed?
Betfair calculates the Expert Fee weekly (every Monday), looking back at the previous week’s profit and losses.
Final Thoughts
The new Expert Fee does away with much-maligned Premium Charge and reshapes the Betfair Exchange for its users. It’s crucial to stay aware of your Gross P&L, and therefore, there is a new account portal on the Betfair website to check your current Expert Fee status.
The Expert Fee is a really positive step forward for the Betfair betting exchange and I welcome its introduction.