Betfair exchange : Transaction Charges Changes

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LinusP
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Tue Jun 30, 2020 7:22 pm

Big changes to how transactions how charged, good for the majority if you ask me.
Transaction Charge Changes

Over the years, the Exchange has processed an increasing number of transactions at an ever-increasing cost to infrastructure and stability.
Therefore, from 1st September 2020, Betfair will be changing the thresholds of the Transaction Charge. The changes are as follows:
• The new limit of “free” transactions will be set at 5,000 transactions per hour. o A “transaction” shall include all bets placed and all failed transactions.
• Every transaction that exceeds the limit will incur a cost of £0.002 (a fifth of a penny). o This cost will be offset by a user’s commission generated.
• There will be no exemptions from this charge.
We have modelled the new charge to disincentivise wasteful transactional behaviour and promote platform stability on a level playing field. It is possible to trade multiple events and markets without ever incurring any of these charges.
Your account manager will be in touch if you would have incurred these charges in the past, giving you an opportunity to update trading strategies and fix bugs before the charge goes live on 1st September

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eightbo
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Location: Czech Republic

Tue Jun 30, 2020 7:25 pm

bots at the ready
"We have modelled the new charge to disincentivise wasteful transactional behaviour"
how does allowing another 4k bets disincentivise wasteful transactions, what have I missed

LinusP
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Tue Jun 30, 2020 7:35 pm

eightbo wrote:
Tue Jun 30, 2020 7:25 pm
bots at the ready
"We have modelled the new charge to disincentivise wasteful transactional behaviour"
how does allowing another 4k bets disincentivise wasteful transactions, what have I missed
A small minority are placing hundreds of thousands.

jameegray1
Posts: 221
Joined: Wed Nov 21, 2018 6:16 pm

Tue Jun 30, 2020 8:02 pm

Other than the increase from 1k to 5k per hour what is the different to today?

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ShaunWhite
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Tue Jun 30, 2020 8:26 pm

eightbo wrote:
Tue Jun 30, 2020 7:25 pm
bots at the ready
how does allowing another 4k bets disincentivise wasteful transactions, what have I missed
The fact that not everyone has a 1000trn limit. It's always the case in a symbiotic business relationship that there's some latitude if you make a proposal that's mutually beneficial.

There's a peculiar us vs them bitchyness about Betfair on this forum. Like them or not they're the primary supplier to our 'businesses' and as such it pays to nurture that relationship. Rules like the previous limits were only ever intended for the general public and they've always been open to having a professional relationship with their professional users. And 'professional' imo means working with people through difficulties rather than having a paddy and throwing your toys out of the pram at the slightest glitch.

Do people think Betfair don't take notice of what people say? When people moan and then can't get refunds, other people who treat them as partners rather than as the opposition are being treated really rather well. Let's just say you catch more flies with sugar than you do with vinegar.

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ShaunWhite
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Tue Jun 30, 2020 8:28 pm

jameegray1 wrote:
Tue Jun 30, 2020 8:02 pm
Other than the increase from 1k to 5k per hour what is the different to today?
Nothing today, but from 1st Sept Liam has slightly less competition in the speed stakes ;)

LinusP
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Tue Jun 30, 2020 8:29 pm

jameegray1 wrote:
Tue Jun 30, 2020 8:02 pm
Other than the increase from 1k to 5k per hour what is the different to today?
No exemptions.

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Derek27
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Tue Jun 30, 2020 8:38 pm

Doesn't affect me but I always thought a penny per transaction was exessive. But how does that disincentivise penny shavers, increasing their maximum potential gain from £10 to £50 per hour?

jameegray1
Posts: 221
Joined: Wed Nov 21, 2018 6:16 pm

Tue Jun 30, 2020 8:54 pm

So perhaps we get to find out whether the bots constantly nipping in front of those trying to trade any kind of volume are run by customers or Betfair themselves?

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Euler
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Tue Jun 30, 2020 9:16 pm

ShaunWhite wrote:
Tue Jun 30, 2020 8:26 pm
Do people think Betfair don't take notice of what people say? When people moan and then can't get refunds, other people who treat them as partners rather than as the opposition are being treated really rather well. Let's just say you catch more flies with sugar than you do with vinegar.
I just read it as people wanting to vent.

Betfair don't treat their customers anywhere near the same level as, say, financial markets. So it's natural for people to vent I think?

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