New Premium Charge on the way

News, chat and debate about the Betfair betting exchange.
spreadbetting
Posts: 3140
Joined: Sun Jan 31, 2010 8:06 pm

I know someone who had their base rate raised so they could get out of the 50% band. Their PC was calculated as usual every week and they've now gone back to their 3% and churning to maintain it.

I'd guess the 8.5% screenshot is just someone from another country playing an AUS market as I'm sure some of them start at around that level.

They've done reduced charges on markets in the past to try to generate liquidity and no reason they won't exempt some from PC as certain markets can't compete with bookies prices.
dannycutts
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Joined: Sat Sep 17, 2016 9:10 pm
Location: West Sussex

I think it should be binned :D

if it does go up or it has a negative impact on more traders then Betdaq will do better out of it...
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Euler
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I think that what is happening is the base rate is set to a higher level which more or less covers the original charge, but it's no longer called premium charge. I think that's what's happening here. I spoke to another person who was offered it today.
steven1976
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Joined: Tue Jan 19, 2010 6:28 am

SeaHorseRacing wrote:
LeTiss 4pm wrote:
SeaHorseRacing wrote: Personally I have no problem with a premium charge at all
Easy to say when you don't pay it ;)
Very good point, Let me re phrase that. I would have no problem in paying a reasonable amount in premium charge.

Betfair are very concerned about potential law suits as I what I gather certain customers especially market makers have been getting special PC rates.
I can see Betfair as a kind of PPI scenario in a few years time if it gets worse.
Special rates. Try zero charges! I was at a wedding with one of them earlier this year who claimed to pay zero. They were from a well known company that lost a lot of money in the past though, so maybe still just loosing cash!
Emmson
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SeaHorseRacing wrote:
Sun Dec 18, 2016 12:25 pm


I have no idea about the ins and outs all I know is they have discussed this and it is something there working on. What I do know 100% is there will be a change come next year.
My source is a solictor so I do believe them but what exactly I dont know and wether they are in the process of changing it as we speak I have no idea but they are making changes and its on its way.
Did anything change or did nothing change?
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SeaHorseRacing
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I have heard no further, as far as im aware no signs of a change yet.
andyfuller
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I have just received an 'offer' from Betfiar for me to pay just 2% commission for almost the next 3 months. I suspect as it appears to be a marketing email that it doesn't mean my PC rate is going to 0% from 60%.

I am awaiting confirmation from them.

2 percent com.png
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Euler
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They have offered a £500 rebate per week for three months to some of our customers according to my inbox.
andyfuller
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Thats interesting Peter. Though I won't hold my breath, none of the T&C's in the email make any mention of the Premium Charge and I guess it does say commission is 2% but doesn't say PC is being reduced at all.

I have received a lot of marketing emails from Betfair the last few months offering me various stuff - they must be missing bending me over each week!
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Westerner
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Could be just me, but markets, at least cricket markets, feel very bot/market maker heavy these days.

It does feel that the number of players has fallen even if volume matched levels are increasing/remaining stable.

Andy's offer & the recent tv commercials for the exchange do seem to fit that theory - they are losing too many long serving players and aren't able to replace them.

Shame Betfair stopped publishing their matched volume data. Would have like to have seen Linus produce another update to his data for 2017 and 2018.
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Derek27
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andyfuller wrote:
Thu Aug 02, 2018 4:23 pm
Thats interesting Peter. Though I won't hold my breath, none of the T&C's in the email make any mention of the Premium Charge and I guess it does say commission is 2% but doesn't say PC is being reduced at all.

I have received a lot of marketing emails from Betfair the last few months offering me various stuff - they must be missing bending me over each week!
I wonder if the 60% rate is making them money or costing them. Beyond 50% is a psychological milestone that must make people feel they're making money for Betfair rather than themselves.
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Euler
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Location: Bet Angel HQ

Very few people on 60% now. Anybody that landed on it made the effort to reduce it. But 40% is still high considering the promises made when it was introduced never materialised. I sort of understand the higher rate for certain types of activity or strategies, but they threw the baby out with the bathwater on most accounts.
Lutruwita
Posts: 544
Joined: Sun Apr 26, 2015 12:54 pm

I am about £80,000 away from the super premium charge. I am happy with 20% of gross profits but 40%+ will see me packing up and doing something else. I am not good enough to absorb 40%+ on Australian markets and could then earn a better hourly rate in a proper job. I may only pop in for a Saturday etc.

Betair already struggle with liquidity in Australian markets and they will lose a customer who provides liquidity in pre-race markets and also in-play harness racing markets. How do they win? Betfair Australia are owned by Crown Resorts but have informed me that even if they agree the Super Premium Charge is excessive there's nothing they can do about it because of their systems agreement etc with Paddy Power in the UK. I suspect that's rubbish.
spreadbetting
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Aarondewit wrote:
Fri Aug 03, 2018 3:41 am

Betair already struggle with liquidity in Australian markets and they will lose a customer who provides liquidity in pre-race markets and also in-play harness racing markets. How do they win? Betfair Australia are owned by Crown Resorts but have informed me that even if they agree the Super Premium Charge is excessive there's nothing they can do about it because of their systems agreement etc with Paddy Power in the UK. I suspect that's rubbish.
Don't think it's just the AUS markets, you only need to turn off x-matching to see the underlying liquidity is very poor on a lot of markets these days, very much a case of robbing Peter to pay Paul.
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napshnap
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Westerner wrote:
Thu Aug 02, 2018 6:21 pm
Could be just me, but markets, at least cricket markets, feel very bot/market maker heavy these days.

It does feel that the number of players has fallen even if volume matched levels are increasing/remaining stable.

Andy's offer & the recent tv commercials for the exchange do seem to fit that theory - they are losing too many long serving players and aren't able to replace them.

Shame Betfair stopped publishing their matched volume data. Would have like to have seen Linus produce another update to his data for 2017 and 2018.
Interesting what their shareholders think about it, they can't be so blind. What will Betfair be without their core product - Exchange, just another oversized bookie.
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