Hello, hope someone can help me understand comission.
I know that (basic) Betfair comission is 5% on winning bets only.
But when is this applied? For example if I go to place a £2 bet on a horse with odds of 7, Betfair predicts a profit of £12 ( so a return of £14 including the stake). Obviously this doesn't include the 5% comission. So at what point is this applied? Would my profit really be £11.40? And if so when trading, would I need to lay £2 at 6.7 (or thereabouts) just to break even?
Many thanks.
When is Betfair Comission applied?
...basic 5% commission is applied the very moment you place each and every bet, but the total commission is only calculated on the final green on winning selections. If you lose it is the other person who pays the commsiion, not you.
Last edited by Tuco on Fri Jun 14, 2019 2:29 pm, edited 1 time in total.
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spreadbetting
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Commission is only applied to net winnings per market once the market is settled so don't include commission in any calculations regarding your offset bets. If you wanted to break even in your example you'd simply lay off £2 @ 7 to have a break even screen.
It's not like financial trading where you may be charged a fee per trade, there are fee for high volume tradng over 1000 bet per hour if you don't generate enough comission but I wouldn't worry abut that to start with unless you're automating high volumes of bets.
It's not like financial trading where you may be charged a fee per trade, there are fee for high volume tradng over 1000 bet per hour if you don't generate enough comission but I wouldn't worry abut that to start with unless you're automating high volumes of bets.