New Betfair Plan

[pythonic]

I believe it's offered selectively to high volume customers perhaps, no idea what the exact criteria are.

[Euler]

Seems to be rolling out further: -

https://myaccount.betfair.com/rewards/my-rewards/choose

[mcfc1981]

Just been offered this when I have gone on my account.............How does this impact premium charge if at all?

[Derek27]

I believe it's offered selectively to high volume customers perhaps, no idea what the exact criteria are.

I'd rather not say what my turnover is but I'm certainly not one of the bigger traders you'd get on here and I've just been offered the choice of plan.

[Derek27]

Just been offered this when I have gone on my account.............How does this impact premium charge if at all?

I presume PC will continue as normal except less commission means more PC. But on a not so good week or a break-even week, for example, it's straight-forward money back.

[sharkky]

Those accepting 2% be prepared for a world of pain when/if you start paying PC.

As far as I'm aware, and please someone correct me if i'm wrong; you are not stuck in the choice you make. You can change each month???

So, for newbie traders, maybe the 8% comm with 10% loss back up to 100 is a decent choice. For those doing better but not on highest level PC - then 2% is the way to go?

What happens though when you need to 'churn' commission to reduce the 60% Pc level down to nearer 40% - do you even have these choices then? Or are you in a different club at that stage?

Be good if someone in the know could offer a bit of guidance here for those scenarios

[sa7med]

Just got the email. Correct me if im wrong but wouldn't those paying PC be better off with the 8% category? Considering you'd be topped up to 20% anyway, only at least you'd be getting some, although paltry, rewards?

[Derek27]

Just got the email. Correct me if im wrong but wouldn't those paying PC be better off with the 8% category? Considering you'd be topped up to 20% anyway, only at least you'd be getting some, although paltry, rewards?

Here's a little spreadsheet - you'll find you're better off on 2% because you only acutally get credited for half the commission you pay. Annoyingly, the guy who lost the money gets credited for the other half.

Bear in mind that if this plan comes to an end and you switch back to the standard 5%, your points and commission discount will have slipped away.

[Derek27]

Bastards! just noticed this: Package changes take effect on the 1st day of the following month. Requesting a change does not impact any benefits you are due to receive in the current month.

They would send out these emails on the first day of the month.

[rik]

notice that the percentages seem to be a flat fee with discount rate not being applied, so if you have a decent turnover 2% should be the way to go.

[rik]

Just got the email. Correct me if im wrong but wouldn't those paying PC be better off with the 8% category? Considering you'd be topped up to 20% anyway, only at least you'd be getting some, although paltry, rewards?

Here's a little spreadsheet - you'll find you're better off on 2% because you only acutally get credited for half the commission you pay. Annoyingly, the guy who lost the money gets credited for the other half.

Bear in mind that if this plan comes to an end and you switch back to the standard 5%, your points and commission discount will have slipped away.

thanks for the spreadsheet, if your on 2% you will save 50p on total charges for every £100 you win and lose pre commission, on 8% you will pay £2,5 more per 100 won and lost so its not advisable to change to that even if your on premium charge thinking im paying 20 or 40% flat anyway, you could end up paying quite a few percent more
my total charges will be about about 37% if i drop into premium charge again as i have large turnover at just a few percent edge

[ShaunWhite]

My first few Aus trades have gone through for the night and I think the discount rate is still being applied there which is strange. UK stuff this evening was at 2% so my choice has been registered ok.

I was on 22% discount, so 4.71%/(0.78) = 6% The race was at Ballarat and I think that's a 6% market without discount?

Screenshot_12.png

[TipTopTrader]

Yeah is a flat rate of 6% at Ballarat.

[Naffman]

notice that the percentages seem to be a flat fee with discount rate not being applied, so if you have a decent turnover 2% should be the way to go.

Yeah just seen that, can't bloody change now till next month though!

Australia still the same for me, 6% - discount rate

[ShaunWhite]

Yeah is a flat rate of 6% at Ballarat.

Thanks. We'll probably go through some sort of timezone soon and it'll flip to the full 6%. That would take the shine off it a bit. I suppose most people had a reasonable discount.