New Betfair Plan

News, chat and debate about the Betfair betting exchange.
Post Reply
User avatar
Derek27
Posts: 23683
Joined: Wed Aug 30, 2017 11:44 am
Location: UK

LinusP wrote:
Wed Oct 02, 2019 5:28 pm
This is the link not sure if you need permission

https://myaccount.betfair.com/activity/premium-charges
I believe people who haven't yet been charged PC don't have access to their PC page. I've even heard of people who used to pay it but no longer do have their page removed.
User avatar
ShaunWhite
Posts: 9731
Joined: Sat Sep 03, 2016 3:42 am

Derek27 wrote:
Wed Oct 02, 2019 7:27 pm
LinusP wrote:
Wed Oct 02, 2019 5:28 pm
This is the link not sure if you need permission

https://myaccount.betfair.com/activity/premium-charges
I believe people who haven't yet been charged PC don't have access to their PC page. I've even heard of people who used to pay it but no longer do have their page removed.
That's right, but like I said by the time you can see it it's too late. If you plan ahead the only one you need to worry about is the 250k+ higher rate. Unless I'm misunderstanding the rules, std PC is avoidable.
User avatar
Tuco
Posts: 728
Joined: Wed Apr 15, 2009 1:43 pm

LinusP wrote:
Fri Sep 06, 2019 6:06 pm
Those accepting 2% be prepared for a world of pain when/if you start paying PC.
...correct! (when paying higher rate PC)
Spiderbat
Posts: 2
Joined: Thu Oct 03, 2019 1:30 am

Hi all,

New user here and very confused with what to do with these new commission rates..

In Particular with ref to PC

Lifetime commission generated to gross profits ratio Applicable Premium Charge Rate
< 5% 60%
5% - 10% 50%
10%+ 40%

Is commission different to total charges? (ie commission plus PC?
Spiderbat
Posts: 2
Joined: Thu Oct 03, 2019 1:30 am

Hi all,

When we talk about commission (with regard to moving up to the 40% bracket) here -

The Premium Charge rate applied to each customer that satisfies these conditions is dependent on their lifetime commission generated to gross profits ratio. The exact rate will be determined by the following table:
Lifetime commission generated to gross profits ratio Applicable Premium Charge Rate
< 5% 60%
5% - 10% 50%
10%+ 40%

Are we talking about purely commission

or commission plus pc ( ie the premium charge paid at 20%)
User avatar
Tuco
Posts: 728
Joined: Wed Apr 15, 2009 1:43 pm

...yes, we are talking about commission only and not total charges.
User avatar
Kai
Posts: 6231
Joined: Tue Jan 20, 2015 12:21 pm

ShaunWhite wrote:
Wed Oct 02, 2019 6:57 pm
You need to know your rate long before getting hit with PC. It's a figure that should be available to anyone anytime especially with it being so important. Truth is they benefit from making it hard to find so keeping your own records is important and it keeps them honest.
That sounds smort Shaun but I'm not one for planning ahead too much, things kind of sort of always seem to somehow work out :D I've ditched the worrying strategy in general after realizing it only had about 1% hitrate :mrgreen: Inb4 somebody posts "If you fail to plan, you are planning to fail!” as a counterargument.
rabetsu
Posts: 1
Joined: Sun Jan 08, 2012 12:34 pm

For me it’s not available in my account settings…
Maybe it’s because i rarely use Betfair or some country restrictions for this reward scheme?
It's look that it's not available in some Eastern Europe Countries.
User avatar
jamesedwards
Posts: 2324
Joined: Wed Nov 21, 2018 6:16 pm

Derek27 wrote:
Wed Oct 02, 2019 7:27 pm
LinusP wrote:
Wed Oct 02, 2019 5:28 pm
This is the link not sure if you need permission

https://myaccount.betfair.com/activity/premium-charges
I believe people who haven't yet been charged PC don't have access to their PC page. I've even heard of people who used to pay it but no longer do have their page removed.
I dont know what the criteria is but I had access to my PC page several months before I qualified.
User avatar
jamesedwards
Posts: 2324
Joined: Wed Nov 21, 2018 6:16 pm

Derek27 wrote:
Wed Oct 02, 2019 1:56 am
sa7med wrote:
Wed Oct 02, 2019 12:55 am
Just got the email. Correct me if im wrong but wouldn't those paying PC be better off with the 8% category? Considering you'd be topped up to 20% anyway, only at least you'd be getting some, although paltry, rewards?
Here's a little spreadsheet - you'll find you're better off on 2% because you only acutally get credited for half the commission you pay. Annoyingly, the guy who lost the money gets credited for the other half. ;)

Bear in mind that if this plan comes to an end and you switch back to the standard 5%, your points and commission discount will have slipped away.
Hi Derek, I have been told that for the PC commission calculation it takes 50% of your commission paid on winnings and adds this to 50% of implied commission on losses. If I have been informed correctly (and my PC page would back up that I have), then your spreadsheet doesn't take this into account?
User avatar
Derek27
Posts: 23683
Joined: Wed Aug 30, 2017 11:44 am
Location: UK

jameegray1 wrote:
Tue Oct 22, 2019 10:51 pm
Derek27 wrote:
Wed Oct 02, 2019 1:56 am
sa7med wrote:
Wed Oct 02, 2019 12:55 am
Just got the email. Correct me if im wrong but wouldn't those paying PC be better off with the 8% category? Considering you'd be topped up to 20% anyway, only at least you'd be getting some, although paltry, rewards?
Here's a little spreadsheet - you'll find you're better off on 2% because you only acutally get credited for half the commission you pay. Annoyingly, the guy who lost the money gets credited for the other half. ;)

Bear in mind that if this plan comes to an end and you switch back to the standard 5%, your points and commission discount will have slipped away.
Hi Derek, I have been told that for the PC commission calculation it takes 50% of your commission paid on winnings and adds this to 50% of implied commission on losses. If I have been informed correctly (and my PC page would back up that I have), then your spreadsheet doesn't take this into account?
That's not quite correct. It only takes into account implied commission.

Implied commission = (commission paid + 3% of losses) / 2.
User avatar
jamesedwards
Posts: 2324
Joined: Wed Nov 21, 2018 6:16 pm

Derek27 wrote:
Wed Oct 23, 2019 12:02 am
jameegray1 wrote:
Tue Oct 22, 2019 10:51 pm
Derek27 wrote:
Wed Oct 02, 2019 1:56 am

Here's a little spreadsheet - you'll find you're better off on 2% because you only acutally get credited for half the commission you pay. Annoyingly, the guy who lost the money gets credited for the other half. ;)

Bear in mind that if this plan comes to an end and you switch back to the standard 5%, your points and commission discount will have slipped away.
Hi Derek, I have been told that for the PC commission calculation it takes 50% of your commission paid on winnings and adds this to 50% of implied commission on losses. If I have been informed correctly (and my PC page would back up that I have), then your spreadsheet doesn't take this into account?
That's not quite correct. It only takes into account implied commission.

Implied commission = (commission paid + 3% of losses) / 2.
So does that mean the spreadsheet isn't correct? Does the PC calculation use implied commission or actual commission?
User avatar
Derek27
Posts: 23683
Joined: Wed Aug 30, 2017 11:44 am
Location: UK

The spreadsheet uses implied commission: MAX(Gross*0.2-(C6+Loss*0.03)/2,0)

C6 is commission paid.

(C6+Loss*0.03)/2 is implied commission.

Subtracted from 20% of your weekly gross profit results in PC payable.
User avatar
jamesedwards
Posts: 2324
Joined: Wed Nov 21, 2018 6:16 pm

Derek27 wrote:
Wed Oct 23, 2019 1:25 am
The spreadsheet uses implied commission: MAX(Gross*0.2-(C6+Loss*0.03)/2,0)

C6 is commission paid.

(C6+Loss*0.03)/2 is implied commission.

Subtracted from 20% of your weekly gross profit results in PC payable.
Thanks. Sorry, I was looking at the commission cell rather than the PC cell so I didnt see the applied comm calculation.
User avatar
jamesedwards
Posts: 2324
Joined: Wed Nov 21, 2018 6:16 pm

Thanks so much for the spreadsheet and advice. I've just started to pay 20% PC and based on my projected P&L going forwards my options are:

1) Continue on 2% commission but by the time I get to £250k net profit I will be on 4.1% and therefore stuck in the 60% bracket.
2) Move back to 5% commission (costing me £40 per week) and be on 5.7% and therefore 50% bracket.
3) Move up to 8% commission (costing me £80 per week) and be on 7.4% and therefore 50% bracket.

Anyone have any views or advice to share based on these options please?
Post Reply

Return to “Betfair exchange”