BetFair Turnover Charge

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Galilee66
Posts: 222
Joined: Thu Apr 16, 2009 5:07 am

In a recent post in Australian Racing I responded to a query about the turnover charge in NSW. I have just checked the detail on the Turnover Charge on the BetFair website and have become aware that the bets placed in relation to the turnover charge only takes into account the number and value of back bets. Is this the understanding of other traders?
I often place a lay bet and then drip feed the back bets into the market before greening up. I will therefore have to apply greater caution to that aspect of my trading - although I have not had to pay the turnover charge so far.

Galilee66
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PDC
Posts: 2272
Joined: Sun Jul 24, 2016 5:52 pm

Yes that was my understanding but I just keep to 24 or less NSW markets a week and then you don't have to worry about anything else as as long as you keep to that you can place as many and as much as you like. I believe this is the rule used by several others to avoid it such as Euler who I suspect has considerable turnover on NSW markets but to my knowledge has never had any issue with the turnover charge.
TipTopTrader
Posts: 462
Joined: Fri Feb 16, 2018 8:29 pm

WHO WILL PAY THE RACING NSW TURNOVER CHARGE?
This charge will only apply to customers who during a week meet all three of the below criteria:

have matched back bets on 25 or more RNSW markets;
have matched back bets with an aggregate value of $2000 or greater on RNSW markets; and
the total commission generated by the customer on RNSW 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. More information here.

WHAT IS THE CHARGE?
The charge will be 1.2% of the aggregate value of matched back bets on RNSW 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 only be incurred for any week when a customer’s betting activity meets the criteria. Please note the charge will not be applicable to any lay bets.

HOW WILL I BE NOTIFIED IF I AM REQUIRED TO PAY?
Customers will be contacted directly by a Betfair representative and informed on the first occasion on which this turnover charge would have been payable.

Customers will also be afforded a one-week ‘grace period’ designed to give them an opportunity to refine their betting habits should they wish to do so.

A summary report of an individual’s weekly activity will also be available if requested.

Customers seeking further information can call 1300 238 324 (9am – 7pm AEST).

RACING NSW RACE FIELDS FEES EXPLAINED
Galilee66
Posts: 222
Joined: Thu Apr 16, 2009 5:07 am

Thanks for the responses - all that makes sense - I had better retune my trading patterns slightly.

Galilee66
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