New Betfair Plan

News, chat and debate about the Betfair betting exchange.
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RedBrain
Posts: 37
Joined: Tue Apr 17, 2018 8:20 pm

Hi everyone! Just got this information from BF
Снимок.PNG
10% refund for 8% comission ? Is this a good deal?

I must add that currently Ihave 6.5% comission due to my location (Russia) so it's not a great increase. But 2.5% looks very interesting.
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eightbo
Posts: 2154
Joined: Sun May 17, 2015 8:19 pm
Location: Malta / Australia

Always thought the first two seemed more catered to gamblers. If you're an active trader (lots of markets) you'll probably want to go for Basic.
Last edited by eightbo on Tue Sep 03, 2019 5:01 pm, edited 1 time in total.
spreadbetting
Posts: 3140
Joined: Sun Jan 31, 2010 8:06 pm

I don't think anyone of the forum loses so it wouldn't be much use to many.
eightbo
Posts: 2154
Joined: Sun May 17, 2015 8:19 pm
Location: Malta / Australia

spreadbetting wrote:
Tue Sep 03, 2019 5:01 pm
I don't think anyone of the forum loses so it wouldn't be much use to many.
As a trader, your business is literally being a good loser.
spreadbetting
Posts: 3140
Joined: Sun Jan 31, 2010 8:06 pm

As a trader I avoid losing to the best of my ability, don't ever want to be a good loser.

To the OP , it's probably worth you downloading a few months profit and losses and do a few what if calculations to see which plan suits you best.
eightbo
Posts: 2154
Joined: Sun May 17, 2015 8:19 pm
Location: Malta / Australia

You might not want to be but I bet you are. We can use the word 'effective' if you prefer.
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ruthlessimon
Posts: 2094
Joined: Wed Mar 23, 2016 3:54 pm

spreadbetting wrote:
Tue Sep 03, 2019 5:27 pm
I don't ever want to be a good loser.
Somehow I doubt you've programmed your bots to go on a hot blooded martingale rampage after a couple of losses. Or maybe I'm missing a trick here? Tbh, actually, it's the sort of thing I like backtesting!!
spreadbetting
Posts: 3140
Joined: Sun Jan 31, 2010 8:06 pm

Luckily my bots don't think about losses, I program simply them to win. As long as they win more than they lose I don't need to worry about being a good or effective loser. Being a 'bad' loser is the biggest scapegoat in gambling, imo, just a good excuse to justify not having a winning strategy.
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ruthlessimon
Posts: 2094
Joined: Wed Mar 23, 2016 3:54 pm

spreadbetting wrote:
Tue Sep 03, 2019 6:55 pm
Luckily my bots don't think about losses,
Exactly, but to me, that's a good loser. Bots don't think about losses, they don't care. Execute the edge, win/loss, move on
spreadbetting wrote:
Tue Sep 03, 2019 6:55 pm
imo, just a good excuse to justify not having a winning strategy.
& there's the key point "not having a winning strategy" (not having a solid trade idea etc), to me, without that caveat, it's kinda misleading to advise against being a 'good loser'
spreadbetting
Posts: 3140
Joined: Sun Jan 31, 2010 8:06 pm

But too many people equate being a 'good' loser with being a good trader as if that's the key.

Being a 'good' loser will come a lot easier if you're winning in the first place.
eightbo
Posts: 2154
Joined: Sun May 17, 2015 8:19 pm
Location: Malta / Australia

We've slightly derailed here but it's an interesting topic.
When you're attempting to win you're doing so by taking on risk i.e. carrying the potential for a loss. On the one hand you can't really separate the two (win/loss) as they're both encompassed in the same thing — the expectancy of whatever you're doing. But from another point of view, you could perhaps break it down into how you're managing positions that are moving in your favour vs. how you're managing those moving away from you.

In terms of manual trading, any Joe Bloggs can win, hedging their position for a profit but not everyone has the ability to crystalise the loss (particularly when it's most efficient to). Doing so is a skill that a manual trader usually needs to develop and get proficient at, thus the term "good loser"

I agree that there's a correlation between pressure and expectancy. Higher the expectancy the easier it is to stomach drawdown mentally.
TipTopTrader
Posts: 462
Joined: Fri Feb 16, 2018 8:29 pm

2.5% thank you.
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Kai
Posts: 6100
Joined: Tue Jan 20, 2015 12:21 pm

Maybe it's worth doing a poll, to see what plans people actually took.
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Kafkaesque
Posts: 886
Joined: Fri Oct 06, 2017 10:20 am

Did everyone get these options?

I've heard nothing. Then it wouldn't surprise me with special conditions for the Danish market.
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Derek27
Posts: 23478
Joined: Wed Aug 30, 2017 11:44 am
Location: UK

I haven't received the offer.

The 10% rebate of losses on a whole calendar month sounds quite risky from Betfair's point of view, and open to abuse. You could easily lose a lot of money on correct score markets where the selection has already lost, assuming you can match your own bets on another exchange. I'd be interested to see the small print.
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