Australian racing

[PDC]

Thanx for your reply Derek. I will try not to trade more than 24 NSW markets in a week from now on

That 2000$ it's only for back bets, right? So if I don't trade more than 24 markets, can I have more than 2000$ matched and still not pay the turnover charge?

And last q, where I can find a list with all NSW races? I want to be aware when it's an NSW market and count them. Cheers

I trade less than 25 NSW markets a week (I only do Saturdays) but trade more than $2,000 and (touch wood) have not had any issues. I don't think the limit includes Trotting markets, not that i trade them.

This is a useful link which shows what is scheduled over the next few weeks and where: http://www.racingaustralia.horse/

[Bog]

I traded less than 25 markets and they still got me, if you're straight backing you'd be fine exceeding the limits but trading hardly gives them the commission they want.

How it's that possible? Did you asked them why did they charged you if you didn't traded more than 24 markets?

I trade less than 25 NSW markets a week (I only do Saturdays) but trade more than $2,000 and (touch wood) have not had any issues. I don't think the limit includes Trotting markets, not that i trade them.

This is a useful link which shows what is scheduled over the next few weeks and where: http://www.racingaustralia.horse/

Thanx for the link PDC . From now on I will use it all the time. I think it dowsn't show Parkes Harness for tommorow, but I don't trade them anyway.

[Derek27]

I traded less than 25 markets and they still got me, if you're straight backing you'd be fine exceeding the limits but trading hardly gives them the commission they want.

Is that less than 25 in a week Monday to Sunday?

I never trade more than 24 markets but often exceeded the $2000 (about £1100) and I've been OK.

[Derek27]

Thanx for your reply Derek. I will try not to trade more than 24 NSW markets in a week from now on

That 2000$ it's only for back bets, right? So if I don't trade more than 24 markets, can I have more than 2000$ matched and still not pay the turnover charge?

And last q, where I can find a list with all NSW races? I want to be aware when it's an NSW market and count them. Cheers

Just to confirm, it is your back total only that counts.

[Naffman]

I traded less than 25 markets and they still got me, if you're straight backing you'd be fine exceeding the limits but trading hardly gives them the commission they want.

Is that less than 25 in a week Monday to Sunday?

I never trade more than 24 markets but often exceeded the $2000 (about £1100) and I've been OK.

Yes, well I think it was less than 50 markets actually, but they have reduced it to 25 since

The number of markets is just a BF rule and not a RNSW rule, if you trade 1 market or 200 rnsw still want their turnover charge from Betfair

But just keep going until they ring you, you won't have to pay anything they just say if you carry on after this warning then we will suspend your account

[TipTopTrader]

I am from Australia and spent over 2 months having to ring up Betfair Aus every week to get my turnover charge refunded because I wasn't going over the race amount.The charge starts from 12am monday morning Aus time and ends sunday night. If you have been charged and did'nt go over the amount of races I would be ringing up they took a few days to get back to me and where happy to refund me.

Even when I got annoyed and didn't hardly traded any races in NSW they charged me for 30k turnover for the week when I was about half that or less.They said all charges come from Betfair UK and all they could do was ring them up and try to it fix like that.

Only NSW gallops are charged for the turnover tax.Betfair have to pay the NSW goverment 70% tax and that is why their commission is 10% base and the turnover charge.

[Naffman]

I think the most important criteria BF care about is - "the total commission generated by the customer on turnover charge markets is less than 1.5% of the aggregate value of matched back bets placed by the customer on these markets"

So if you are staking £20k back bets during the week and are not giving BF at least £300 in commission then they are losing money - for traders to do that is pretty much impossible

[spreadbetting]

Betfair don't do loss leaders so if you start costing them money they'll tell you to stop regardless of the limits. Obviously they won't bother if it's small amounts and you generate comms elsewhere but they don't let people play the system at their expense.

[TipTopTrader]

I was just trying to say that if they have charged you for the turnover tax and you're pretty sure you didn't go over the amount of races.It paid for me to ring them up and I got refunded.

[rhodaewart]

I'm sorry to post here, but I'm finding creating a new topic impossible. Can anyone tell me how i can start a new topic? I might add that I'm a new user which probably contributes to the problem. Thanks in advance.

[Dallas]

I'm sorry to post here, but I'm finding creating a new topic impossible. Can anyone tell me how i can start a new topic? I might add that I'm a new user which probably contributes to the problem. Thanks in advance.

viewtopic.php?f=17&t=16838

[PDC]

Where would the Turnover charge show on your account? When is it taken each week and are you notified when they take it each time?

[spreadbetting]

I was just trying to say that if they have charged you for the turnover tax and you're pretty sure you didn't go over the amount of races.It paid for me to ring them up and I got refunded.

I think the Aus regulators have always been more stricter in enforcing any t&c's, you must be turning over large amounts of comms elsewhere if they dropped a 30K charge as its not like them to carry to the can

Where would the Turnover charge show on your account? When is it taken each week and are you notified when they take it each time?

I remember being charged data charges years ago when one of my bots went a bit haywire, only knew because it was on my PC statement page, they never informed me direct. They did email and waive my first turnover charge when it was introduced but I then set my bots to avoid all those markets ever since.

[Bog]

But just keep going until they ring you, you won't have to pay anything they just say if you carry on after this warning then we will suspend your account

What? Who told you that? I don't see any reason they will suspend accounts, they will just take their turnover charge. I had an email from betfair, they told me they will charge me from now on, nothing about suspending.

Where would the Turnover charge show on your account? When is it taken each week and are you notified when they take it each time?

PDC, you need to look in your "Transaction History" , usually between Wednesday and Friday they will charge you for last week.
It says "Debit" and the amount take it

Last week I traded ~70 NSW markets, made ~ +110$ and they charged me 17$, so 15% from total.

[Naffman]

The guy who rang me up told me that - said I could keep going if I kept below the matched back amount level

So you got charged $17 which means you staked just over $1000 on the back side and made $110? You pre race trading as I could easily stake that in one race?