mormota wrote: ↑Wed Oct 25, 2023 5:15 am
Hey guys!
I am a newby about trading, I'm practising about 2 month ago. Now I read something, and I don't understand fully. This is about Australian NSW Turnover Charge Markets.
My informations are from:
https://www.betfair.com.au/hub/help/turnover-charge/
My question is:
If I placing bets on australian markets that not connected to 'NSW' (rules don't indicate that), then that markets aren't NSW, so I won't pay any additional fees later, right?
For example:
- Randwick (NSW, will have extra fee later)
Eagle Farm (non-NSW, no extra fee later)
Can you guys help me? Thanks.
Correct.
The NSW fees are dependent on total NSW commission generated being less than 1.25% of total NSW back bet stakes. Commission generated is (50% of actual commission paid on winning markets) + (1.5% of losses on losing markets)
So you may well never have any NSW fees to pay depending on your style of trading.
From memory, laying only is fine, backing one horse per race is risky but as long as it's at higher odds then it's likely ok.
The big no nos which are more likely to trigger charges are;
> backing at very low odds,
> backing AND laying in the same race,
> backing multiple selections in the same race.
EG;
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