Australian racing
It's not *that* difficult. The BF website does it for you each race.
The website still has a running total of your Matched bets (if you check Average Odds) - so that doesnt include open bets which you'd need to keep an eye on.
I had assumed that the 2.4% charge was only on incremental $ after the $6000 threshold. THey've updated their page https://www.betfair.com.au/hub/turnover-charge/ but I'm still not clear if you have to pay from the first $, or only after the $6001.
They say both:
andb) Matched back bets with an aggregate of AUS $6,000 or greater on turnover charge markets
I'll ask my account manager and report backThe turnover charge will be 2.4% of the aggregate value of matched back bets on turnover charge markets.
Basically £3000 so if you make over £100 you're doing very well, not worth it for all the hassle imo, you go over once and it's a £75 charge.
I think they allow you to lay as much as you want still though so I'll be taking a look at that but doubt it'll be worthwhile either with the comm. rate
I think they allow you to lay as much as you want still though so I'll be taking a look at that but doubt it'll be worthwhile either with the comm. rate
hmmm
£3000 * 2.02 / 1.98 - £3000 = £60
£3000 * 55 / 50 - £3000 = £300
For sort of the bounded limits of what people might indulge. And then 2.4% of £3,000 = £72
I see what you mean about risk and reward.
It would be easier to keep a mental record than to keep looking and refreshing the accounts page.Anbell wrote: ↑Thu May 28, 2020 8:10 amThe website still has a running total of your Matched bets (if you check Average Odds) - so that doesnt include open bets which you'd need to keep an eye on.
I had assumed that the 2.4% charge was only on incremental $ after the $6000 threshold. THey've updated their page https://www.betfair.com.au/hub/turnover-charge/ but I'm still not clear if you have to pay from the first $, or only after the $6001.
They say both:andb) Matched back bets with an aggregate of AUS $6,000 or greater on turnover charge markets
I'll ask my account manager and report backThe turnover charge will be 2.4% of the aggregate value of matched back bets on turnover charge markets.
The rules you've quoted are pretty clear to me. You pay turnover charge from the first dollar. The $6000 is just the trigger figure for working out whether or not you pay it.
You'd be lucky to trade £3K in that region. To be honest, I've never really looked down there but I sometimes find the third or fourth favourites don't trade as well as the favourite and always avoided NSW markets with a fav above 5.0. Looks like I'll be confined to them now.
https://www.harness.org.au/racing/field ... c=KI270520
Have a look at this harness race @ Kilmore race 4 on Wednesday night. It was a very difficult race to trade in play... All but one horse galloped
Have a look at this harness race @ Kilmore race 4 on Wednesday night. It was a very difficult race to trade in play... All but one horse galloped
I stopped trading weds session long ago, every now and then my sleeping schedule aligns and I have a go but always end up back at the same conclusion (not worth it) so I'm only trading Sat session each week.
re: New Turnover charge
Sad to see but BF were presumably getting absolutely carted so not completely unreasonable
I'm going to review tomorrow's session to get a feel for how much I'm backing in certain NSW markets.
Given the free 1wk grace period, I'll have a stab at trading the NSWs which I feel are worth it on June 06 and tally them retrospectively using matched bets as Anbell suggested. I'll check exchange rate at session start and take off a small buffer leaving a round number. (Naf's £3000 seems perfect at current rate).
I'll freestyle it til I notice I'm close then for last mkt Derek, I reckon I'll just switch to 'Stake' type staking and use some easy number like £50 or £100 then close the market early when I'm around my number e.g. ~£3000.
Depending on card structure each week the number of NSWs I trade may vary dramatically.
Lastly, I would add that given this change, by mid-June it would be reasonable to expect a drastically lower % of full-time traders in the markets which in-turn should translate as a boost in edge to those who stay around.
Personally I'm keen to give it a good go but if at any point I cock up and use my 1wk grace period, I'll avoid NSWs completely on the basis that I should still be able to allow for a mistakenly traded NSW market each week and not trigger the charge.
re: New Turnover charge
Sad to see but BF were presumably getting absolutely carted so not completely unreasonable
I'm going to review tomorrow's session to get a feel for how much I'm backing in certain NSW markets.
Given the free 1wk grace period, I'll have a stab at trading the NSWs which I feel are worth it on June 06 and tally them retrospectively using matched bets as Anbell suggested. I'll check exchange rate at session start and take off a small buffer leaving a round number. (Naf's £3000 seems perfect at current rate).
I'll freestyle it til I notice I'm close then for last mkt Derek, I reckon I'll just switch to 'Stake' type staking and use some easy number like £50 or £100 then close the market early when I'm around my number e.g. ~£3000.
Depending on card structure each week the number of NSWs I trade may vary dramatically.
Lastly, I would add that given this change, by mid-June it would be reasonable to expect a drastically lower % of full-time traders in the markets which in-turn should translate as a boost in edge to those who stay around.
Personally I'm keen to give it a good go but if at any point I cock up and use my 1wk grace period, I'll avoid NSWs completely on the basis that I should still be able to allow for a mistakenly traded NSW market each week and not trigger the charge.