Trading Horse racing : Australian racing

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PDC
Posts: 1122
Joined: Sun Jul 24, 2016 5:52 pm

Sat Aug 11, 2018 1:02 pm

Bog wrote:
Sat Aug 11, 2018 12:16 pm
Thanx for your reply Derek. I will try not to trade more than 24 NSW markets in a week from now on :D

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/

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Bog
Posts: 38
Joined: Sat Aug 11, 2018 7:19 am

Sat Aug 11, 2018 3:10 pm

Naffman wrote:
Sat Aug 11, 2018 12:44 pm
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?

PDC wrote:
Sat Aug 11, 2018 1:02 pm

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 :mrgreen: . 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
Posts: 4184
Joined: Wed Aug 30, 2017 11:44 am
Location: UK

Sat Aug 11, 2018 4:43 pm

Naffman wrote:
Sat Aug 11, 2018 12:44 pm
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
Posts: 4184
Joined: Wed Aug 30, 2017 11:44 am
Location: UK

Sat Aug 11, 2018 4:45 pm

Bog wrote:
Sat Aug 11, 2018 12:16 pm
Thanx for your reply Derek. I will try not to trade more than 24 NSW markets in a week from now on :D

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.

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Naffman
Posts: 2764
Joined: Sun Aug 11, 2013 5:46 am

Sun Aug 12, 2018 7:57 am

Derek27 wrote:
Sat Aug 11, 2018 4:43 pm
Naffman wrote:
Sat Aug 11, 2018 12:44 pm
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
Posts: 24
Joined: Fri Feb 16, 2018 8:29 pm

Sun Aug 12, 2018 8:47 am

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.

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Naffman
Posts: 2764
Joined: Sun Aug 11, 2013 5:46 am

Sun Aug 12, 2018 11:04 am

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
Posts: 1987
Joined: Sun Jan 31, 2010 8:06 pm

Sun Aug 12, 2018 11:32 am

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
Posts: 24
Joined: Fri Feb 16, 2018 8:29 pm

Sun Aug 12, 2018 12:50 pm

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.

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rhodaewart
Posts: 3
Joined: Sun Aug 12, 2018 7:07 am

Sun Aug 12, 2018 1:10 pm

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.

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