New Betfair Plan

[Derek27]

It might be worth logging your weekly commission and PC in a spreadsheet with a few 'what if' columns. You need to consider how long it will take to reach £250K but you really want to avoid that 60% and 50% punishment.

[rik]

i went from 60% to 40 in a few weeks at least 2 fast ways to do that and others that will take more time i wrote it earlier in the thread

[Derek27]

i went from 60% to 40 in a few weeks at least 2 fast ways to do that and others that will take more time i wrote it earlier in the thread

I'm surprised you're paying 40% PC, given your style of trading involves heavy liabilities and big losses as well as profits.

[rik]

used to have a big edge for tennis and generally have much lower risk tolerance
actually when i went from 50 to 40% i went to 44% total charges think they have to calculate it as if i had been on 40% since account opening but had a lot of credit then, missed to take a screenshot before the swap so tough to understand what happened, anyone the same? also they only changed after i emailed them a week late maybe its to do with that

[jamesedwards]

i went from 60% to 40 in a few weeks at least 2 fast ways to do that and others that will take more time i wrote it earlier in the thread

Particularly interested in the below and will have a play with this myself:

"safer way have a market making automation with lots of small orders, good chance youll make a profit before commission and variance wont be bad".

To help get me started, do you set these at around 98%/102% round to cover the 2% commission or do you go a bit harder like 96%/104%? Are you better off setting orders on all selections in a market or just a couple? I imagine the more selections the more they will balance each other off and the longer it takes to build commission generated?

Thanks for any advice you can share.

[pythonic]

For me it’s not available in my account settings…
Maybe it’s because i rarely use Betfair or some country restrictions for this reward scheme?
It's look that it's not available in some Eastern Europe Countries.

I believe it's only available in the UK.
Most other countries have higher default commisson rates so betfair likely wouldn't offer them the same deal.

[spreadbetting]

I looked at the betfair rewards beta a few days ago and they dumped me on the 5% one just for viewing the page Pretty sure I never clicked anything

[Kafkaesque]

For me it’s not available in my account settings…
Maybe it’s because i rarely use Betfair or some country restrictions for this reward scheme?
It's look that it's not available in some Eastern Europe Countries.

I believe it's only available in the UK.
Most other countries have higher default commisson rates so betfair likely wouldn't offer them the same deal.

Not offering exactly the same deal makes complete sense. That said, rolling it out for all to see, with no announcement or info to non-uk customers, and taking the disadvange from 5% base vs 6.5% (or worse) base to 2% vs 6.5% base is just plain taking the piss.

If they informed me and others that they wanted to see, how it went down, what effect it would have on liquidity etc by doing it in the UK, before working out what, if any, the deals should be for non-5% areas, then I'd be totally fine. But the deafening silence is poor customer service/relations. Simple as.

[pythonic]

Agreed. There are also a few other countries with 5% default commission rate.
But first they started to offer this deal only to a few selected customers, now it seems to be everyone in the UK. Maybe they will bring it to other countries as well after a while. You could also write them and ask about it perhaps?

[Kafkaesque]

Agreed. There are also a few other countries with 5% default commission rate.
But first they started to offer this deal only to a few selected customers, now it seems to be everyone in the UK. Maybe they will bring it to other countries as well after a while.

Indeed, but like I said, they should communicate this fact out. I love the iniative, and the fact that they're trying out new things can only be good, so thumps up to BF on that count. The status quo on those out of the "new plan loop" just smacks of a company drifting with no control, having lost sight of that repeat customers - even in this forlorn business - are what pays the bills.

[Kai]

Afaik it was originally intended only for UK/IRE customers but as of last Tuesday they've apparently extended the offer to Finland, Norway, Croatia, Hungary and Latvia as well. Maybe they'll add more countries in the near future, might be worth asking. Premium Customers should be excluded from the offer by default, while Premium Charge paying customers should still be eligible.

Can confirm that some of us got the offer last month or so, as I've mentioned earlier on page 3.

[jamesedwards]

What is a "Premium customer"???

[jamesedwards]

If I may just check this with you guys...

Whilst on 2% commission my "Commission Generated" goes up by 1% of the gross value of all my winning markets and goes up by 1.5% of the gross value of all losing markets.

Therefore if I was to add +£1,000 gross of winning markets and -£1,000 gross of losing markets to my weekly activity this would have the affect of increasing my "Commission Generated" by £25.

Have I got this correct?

[Derek27]

If I may just check this with you guys...

Whilst on 2% commission my "Commission Generated" goes up by 1% of the gross value of all my winning markets and goes up by 1.5% of the gross value of all losing markets.

Therefore if I was to add +£1,000 gross of winning markets and -£1,000 gross of losing markets to my weekly activity this would have the affect of increasing my "Commission Generated" by £25.

Have I got this correct?

It doesn't go up by 1%, it is 1% and 1.5% respectively.

[jamesedwards]

If I may just check this with you guys...

Whilst on 2% commission my "Commission Generated" goes up by 1% of the gross value of all my winning markets and goes up by 1.5% of the gross value of all losing markets.

Therefore if I was to add +£1,000 gross of winning markets and -£1,000 gross of losing markets to my weekly activity this would have the affect of increasing my "Commission Generated" by £25.

Have I got this correct?

It doesn't go up by 1%, it is 1% and 1.5% respectively.

That's what I meant. Thanks. It's so difficult getting one's head around Premium Charge for the first time and planning for the future.