Betfair Premium Charge

[LinusP]

It’s not that bad when on 20% and you soon get used to it!

If you want to reduce PC you need to increase the commission your paying. Trading doesn’t pay much in commission (hence the introduction) however outright betting or cross market trading (football / related markets) can get you paying a decent amount in commission without losing much.

I have gone almost all year without paying PC simply from turning over loads outright betting, averaging about 4k in commission a week.

[pythonic]

1) will I be lumped with this charge from the moment I reach the above milestone or does it take them a while to decide that I should be paying?

You get a free allowance of I think 1k PC first before they actually start to charge you.

[jamesedwards]

cheers for the responses. I will also check out the videos. Emmson, if by 'premium page portal' you mean the page that shows my P&L and commission paid for lifetime and for last week then it's still there for me. I'm currently at 28% lifetime but it's dropping very quickly.

[jamesedwards]

A question I've not been able to answer through the videos is that the Betfair terminology talks about hitting certain thresholds before being "considered for the charge". Does that actually mean there is a process my account would go through once all the thresholds are met or will it just kick in automatically once my account qualifies?

[jamesedwards]

To summarise what I think I've learnt:
1) Once I cross the threshold into 20% land I will be essentially paying 20% total charges made up of [usual commission] + [a balancing premium charge].
2) Short of deliberately reducing BF profit (eg through arbing) there is no behavioural changes that can mitigate the 20% as reducing the premium charge can only be at the expense of higher commission so one will balance the other.
3) However, it is worth investigating behavioural change to maintain a long term commission rate of over 10% as this makes a huge difference if ever my lifetime profit gets to £250k+

Anyone's views on this summary more than welcome

[Derek27]

To summarise what I think I've learnt:
1) Once I cross the threshold into 20% land I will be essentially paying 20% total charges made up of [usual commission] + [a balancing premium charge].
2) Short of deliberately reducing BF profit (eg through arbing) there is no behavioural changes that can mitigate the 20% as reducing the premium charge can only be at the expense of higher commission so one will balance the other.
3) However, it is worth investigating behavioural change to maintain a long term commission rate of over 10% as this makes a huge difference if ever my lifetime profit gets to £250k+

Anyone's views on this summary more than welcome

If you can find a break-even strategy after commission, the commission you generate will reduce premium charge without losing anything.

[Kai]

I'm no mathemagician but you can probably start by raising your stakes by 20%.

[jamesedwards]

To summarise what I think I've learnt:
1) Once I cross the threshold into 20% land I will be essentially paying 20% total charges made up of [usual commission] + [a balancing premium charge].
2) Short of deliberately reducing BF profit (eg through arbing) there is no behavioural changes that can mitigate the 20% as reducing the premium charge can only be at the expense of higher commission so one will balance the other.
3) However, it is worth investigating behavioural change to maintain a long term commission rate of over 10% as this makes a huge difference if ever my lifetime profit gets to £250k+

Anyone's views on this summary more than welcome

If you can find a break-even strategy after commission, the commission you generate will reduce premium charge without losing anything.

Makes sense, thanks.

[Derek27]

I'm no mathemagician but you can probably start by raising your stakes by 20%.

I don't think it's a good idea to raise stakes simply to make more to cover PC. If it was we'd all raise our stakes by 20% anyway.

[ScoreX]

Hi guys,

Got an email from betfair regarding plan changes from 1st Jan so I had a look and nothing really changes. What I did notice is that I can now see the Premium Charge entry on the dropdown even though I should be miles away from it given what I've read about the requirements.



Is anyone else seeing it who shouldnt be? I've not gotten an email letting me know I was eligible for PC, do I need to talk to BF and see how it's happened?

[Euler]

You are miles off. It used to be on the tab all the time, but they removed it for some reason. Probably to avoid highlighting the potential for the charge.

[sa7med]

If you haven't met these criteria (https://en-betfair.custhelp.com/app/ans ... -pay-it%3F) then you should definitely contact betfair

[ScoreX]

Good to know, thanks.

[Kai]

I've not gotten an email letting me know I was eligible for PC, do I need to talk to BF and see how it's happened?

You can contact their Twitter support and sort it out in a few mins probably, obviously no fear of getting premium charged. But it might be a better idea to do nothing, if you want to monitor your account progress more closely, because not many get to see that tab in the first place. I'd probably leave it.

[Derek27]

Hi guys,

Got an email from betfair regarding plan changes from 1st Jan so I had a look and nothing really changes. What I did notice is that I can now see the Premium Charge entry on the dropdown even though I should be miles away from it given what I've read about the requirements.



Is anyone else seeing it who shouldnt be? I've not gotten an email letting me know I was eligible for PC, do I need to talk to BF and see how it's happened?

I can't remember if I had access to my premium portal, as it was called then, before I started paying PC, but that looks absolutely fine to me. That 40% figure in brackets would have to drop to 20% before you're liable, and then the £1000 allowance will get consumed before they actually take money out of your account.