How to avoid the Betfair premium charge

[Euler]

No, Betfair abandoned that because of campaigning by people who didn't like traders. But API NG may solve that anyhow subject to all the issues being resolved first.

[gazuty]

Well the sad day arrived yesterday where I got my emails, one from Australia and one from HQ welcoming me to the world of PC.

You have to laugh at this part.

"Why do we do it?
The rate we charge our customers on their winnings in each market, is extremely competitive when compared to our competitors whose margins are as much as 22.5 % of all bets placed, we introduced this charge to enable us to better fund the ongoing development of our exchange platform. Betfair leads the wagering world in terms of price and service and we’re committed to consistently improving our product for our customers. "

[jimrobo]

wait to you get the 60% one!

[Euler]

The rate we charge our customers on their winnings in each market, is extremely competitive when compared to our competitors whose margins are as much as 22.5 % of all bets placed

[giulio2010]

I did not manage to open an account yet, I am still waiting their investigation but, the positive thing about Betfair.it is that there is only one commission to pay. 5% of the winning bet.
The window below is all they stated about commissions, just
5 lines.

[Naffman]

I think you have to view the PC as an achievement, as only 0.5% of Betfair users have accomplished this. I remember when I got the email, I was strangely happy as it just showed me how hard I've worked to get there. Of course, the next Wednesday, I wasn't too happy!

[gazuty]

Are betfair supposed to send me an email statement each week setting out their calculations and the deduction?

They remember to debit it like clock work but I never receive a weekly statement?

I find I just have to log in each week to the premium charge portal, a link to which I found in these forums and was not sent to me by betfair.

[Naffman]

They sent me a link but it keeps on saying that there are no PC reports...

[Euler]

Betfair don't even update the portal in a timely manner any more.

[doncht]

What if their system changes or we get caught. Are there consequences to this?

[xitian]

I was browsing another software provider's forum the other day, and came across some interesting comments by someone. I don't think I'm allowed to include a link here, but here's a few extracts.

I had to pay premium charge from when it was introduced until last month.
Since then I don't pay it anymore with the help of a company.
It's a company that has received privileges regarding premium charge and commission from Betfair. Just become a customer of them and you will have those privileges too.
I still don't pay premium charge and a lower commission than ever. Those of this forum who tried it aren't complaining either.

The poster goes on to ask for some sort of remuneration for divulging any further information.

I'm obviously not going to be entertaining this person's "offer", but I'm just curious to know if anybody else has come across such a thing.

I suspect you have to join a betting syndicate (the company) and have your account merged with them for PC calculation purposes. I presume the syndicate already generates such a high amount of commission that tagging along means your own PC is reduced.

The question is whether this is "legal" in the eyes of Betfair or not. I know of people forming Betfair syndicates in the past, so I suppose it must be allowed?

[gutuami]

why would somebody take care of your financial situation.
I think to become a member of that company or club whatever it is you will be asked to invest some money somewhere on some terms.

[Euler]

Pretty much every syndicate or collective on Betfair has turned out to be either a fraud or disaster in the past. So I'd be extremely cautious before getting involved in something like this. Sort of begs the question why they wouldn't knock on the door or well known PC payers to get them involved.

I know of one legit syndicate that formed to avoid PC, but Betfair suspended their accounts and charged them with PC avoidance.

[gutuami]

some old videos of good publicity for betfair:

https://www.youtube.com/watch?v=lIFThu-kX5c

https://www.youtube.com/watch?v=uKkNtpzJsH4

[DavDvo]

I found new interesting possibility how to avoid/reduce premium charge - the idea behind this is - you can have automated betting on tips provided by tipsters, so you will act as a punter and thus you will generate significant commission with negligible effort. As a little plus - if you are lucky you can even make some additional money, some of tipsters there look really promising...
If interested PM me for details