Australian racing

The sport of kings.
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Derek27
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Wildly wrote:
Wed Sep 12, 2018 2:29 am
Derek27 wrote:
Wed Sep 12, 2018 1:08 am
That's a relief, I thought they were going to pull the plug on Australian racing.
Derek,
Do you understand that by continuing to trade on NSW thoroughbred markets that incur turnover charge, you increase the likelihood of the plug being pulled ?
I can't image Betfair announcing their withdrawal from NSW markets "because Derek continues to trade NSW" - it would be the result of all traders. ;)

In any case, if the only way we can allow Betfair to trade NSW is by not trading there, then it won't make any difference if they to pull the plug, because nobody would be trading those markets anyway.
Lutruwita
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Wildly wrote:
Wed Sep 12, 2018 2:29 am
Derek27 wrote:
Wed Sep 12, 2018 1:08 am
That's a relief, I thought they were going to pull the plug on Australian racing.
Derek,
Do you understand that by continuing to trade on NSW thoroughbred markets that incur turnover charge, you increase the likelihood of the plug being pulled ?
Remember BF Australia and BF UK have different parent companies.
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Naffman
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At least its not the 2% turnover tax some were talking about, that would've killed BF in Australia
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Derek27
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I just hope Betfair succeed in educating the Australian politicians. It surely can't be as difficult as educating our own!
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Naffman
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That's why they're starting the new commission structure on Oct. 1st to show those people how much the states are losing (that's even if they will be worse off)

The increased levels of comm. will still offset against PC so most of us here won't even feel it
Lutruwita
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Naffman wrote:
Wed Sep 12, 2018 6:06 am
The increased levels of comm. will still offset against PC so most of us here won't even feel it
If you're a trader with their implied commission you should feel it slightly?
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Naffman
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Aarondewit wrote:
Wed Sep 12, 2018 6:07 am
Naffman wrote:
Wed Sep 12, 2018 6:06 am
The increased levels of comm. will still offset against PC so most of us here won't even feel it
If you're a trader with their implied commission you should feel it slightly?
Yes sorry of course, must be these early starts :?

Just seen the maximum discount rate is 40% in the higher poc brackets, which I'm way off anyway
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PDC
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Euler, if you read this could you comment please about the turnover charge limit of 24 NSW race meetings. I saw on twitter this morning that you posted an image of your bot trading the Australian racing over night and saw that you were active on the NSW meeting at Canterbury Park along with the other non NSW meetings.

I would think you are also active on Saturday NSW meetings given your previous comments about botting these then getting up to manually trade them as well. Also in previous posts/tweets you have talked about running automation on Australian markets every day of the week.

So my question is, how does the 24 race limit not seem to stop you trading NSW tracks?

There were 9 races today at Canterbury Park and it looks like you were trading them all on the image you posted. On Saturday there are 9 races at Randwick which I am sure you will trade, so that would only leave 6 other NSW races available to trade all week and not be effected by the charge but there are another 100+ NSW races.
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Naffman
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Betfair seem to take ages to ban those staking too much on TC markets, when you'd have thought it'd be in their best interests to act as quick as possible

Suppose if you're staking more than the 25 race limit you'll bring more attention to yourself so odd how Peter is still allowed to trade them as most of us long term Aussie traders have been contacted (think I was called almost 5 years ago about it - how time flies)
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Euler
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Location: Bet Angel HQ

I am affected by the same charges, but I don't trade all markets every day. I tend to focus on Wednesdays and Saturdays. I did all today as I knew there was an event, so wanted to show a full hand.
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PDC
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Euler wrote:
Wed Sep 12, 2018 10:07 pm
I am affected by the same charges, but I don't trade all markets every day. I tend to focus on Wednesdays and Saturdays. I did all today as I knew there was an event, so wanted to show a full hand.
Thank you for taking the time to reply. I wondered if you had an arrangement with Betfair so you could trade as many as you wanted/more than the 24 limit or if you had more than one Betfair account you were using and so increasing the number of NSW markets you had available to trade (No. of ac's x 24 = NSW markets available to trade).

So this week you will just trade Canterbury that was on on Wednesday, Randwick's 9 races on Saturday and then 6 other races of your choosing? How do you decide which others to trade, it sounds like it will be ones that are on on Saturday, is it quality of race?

Euler, you haven't had the warning that Naffman and many others have had, do you have any idea why you haven't? Do you take any specific measures other than staying at 24 NSW races or less a week to ensure you don't?

The reason I ask is because I and I am sure others are keen to also be able to avoid getting the warning and you have said you have been trading the Australian markets for about a decade now so you must be doing something right to avoid getting the warning when Naffman says most long term Australian traders have been contacted.
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Euler
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I can't remember when I got a message about turnover charges, it was some time ago.
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Naffman
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When I got the message it was "You have to stay within the matched amount criteria otherwise we will lock your account" - which unltimately meant I could probably do about 2 TC markets per week :lol:
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PDC
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Naffman wrote:
Wed Sep 12, 2018 8:55 pm
odd how Peter is still allowed to trade them as most of us long term Aussie traders have been contacted (think I was called almost 5 years ago about it - how time flies)
Euler wrote:
Thu Sep 13, 2018 9:30 am
I can't remember when I got a message about turnover charges, it was some time ago.
What I believe Naffman was talking about wasn't the general information about the turnover charge which I think you are referring to when you say you were contacted some time ago about the turnover charges, but rather, Naffman is saying it is odd you haven't been contacted and told to effectively stop totally trading the NSW races like he was almost 5 years ago.

And that is what I was asking you about in my previous post, or have I misunderstood and you have been told the same as him and you keep below the $2,000 a week limit on the NSW races?
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Derek27
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PDC wrote:
Thu Sep 13, 2018 9:02 am
I wondered if you had an arrangement with Betfair so you could trade as many as you wanted/more than the 24 limit or if you had more than one Betfair account you were using and so increasing the number of NSW markets you had available to trade (No. of ac's x 24 = NSW markets available to trade).
When I became eligible for the premium charge I quite stupidly thought I might get around it by switching to my number two account. :lol:

I'm pretty sure multiple accounts will be linked for turnover charge as they are with PC.
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