PC scrapped until June 2014 for rugby union

[chrisangel]

According to betfair forum some pc payers have received email.

I don't know any pc payer who has received one, but that's not a surprise coming from betfair.

Apparently rugby losses will be included in pc calculations, but winnings will not. (Your pc will be refunded for rugby union).

[Euler]

Interesting stuff, no email from Betfair though, but this was quoted in the forum thread: -

Had this email today from BF account manager James Ellis

We have taken the decision to remove Premium Charge from all Rugby Union bets you place on The Exchange which settle before midnight on 2nd June 2014. This includes all markets pre-play and in-play in all competitions both domestically and internationally. This does not apply to Australian or New Zealand customers.

This is effective from now so any bets placed this week will be included in this. Your Premium Charge statement will include all rugby activity as normal but you will receive an account credit on Wednesday (typically around midday) for any rugby union Premium Charge generated in the previous week. As a result, this PC exemption will not cause any detrimental effect on future PC payments.

If the trial proves to be a success, we’ll look to extend it in to summer 2014. At the moment we have no further news regarding Premium Charge on other sports.

I then asked about losses and had 2 replies.

Firstly:
We will look at it as if Rugby Union didn’t exist so no your Rugby losses don’t go against other sports.

Then 5 minutes later:
Scrap that, your losses WILL do against your other sports


Seen some others confirm same info on Twitter too.

[mcfc1981]

haha who wants to be my rugby union buddy???

[Euler]

Mark Iverson has confirmed he has the email, wonder why so few PC payers have it? Why not email everybody?

http://markiverson.com/premium-charge-exempt/

[Euler]

haha who wants to be my rugby union buddy???

If you pay PC then any sport PC free should prove pretty useful!

[mcfc1981]

surely im missing something, rugby union will soon be the highest volume matched sport on both betfair and betdaq

[kelpie]

Another betfair clusterfuck.

Clearly they're seeing liquidity attrition and are on the cusp of panicking

If they'd had their wits about them they would have just removed PC from markets below 250k liquidity (or some such threshold). That way they dial down a meaningful wedge of PC animosity across the board and ramp pressure on traders to succeed in harder markets

But no... that would have required original thinking. So instead one betfair retard says, mmmm, I'm on 200k basic so... gottid! Lets do an effectively meaingless tactical focus on one tiny market segment wotsit. And there was nobody sensible around the betfair offices to hit him hard enough.

Hammersmith... there's something in the water

[Euler]

I've spoken to Betfair today and they confirmed the Rugby PC stuff. They are putting together an email for everybody as we speak.

[chrisangel]

Hope that is good news we are going to receive Euler.

However in last few minutes on betfair forum Templeton Peck wrote

"Hold fire!!! Just heard that the Pricing Team are having to investigate this trial. As it's not been done before, there are a few things they're not sure of. You couldn't make it up. Even when they're trying to give us good news, they make a mess of it."

[mugsgame]

If Carlsberg did emails it would say this.

Dear MG,
We are sorry that for the past 2 years we have taken over half of your winnings. We see it was a gross error of judgement, as not only has it alienated most of our best customers, it has completely fucked up our business model too. We have became a laughing stock within the industry. Even our biggest shareholders are using "cash out" and jumping the sinking ship.

We desperately want to put this right, and as an act of good faith we have refunded the £147,423.14 that we have taken from you in PC and the Premium Charge will be scrapped with immediate effect. The in running markets will flourish again. We even promise to stop dumping large amounts of money into the markets in the minutes before the off . As an extra bit of good news we are going to get rid of the x matching fiasco too.

All will be back as it was before.

Hope this meets with your approval
The Betfair team



Then I woke up.

[convoysur-2]

mugs i missed your humour .
welcome back.
Marc

[Euler]

Recently we introduced a special offer removing the Premium Charge (PC) from all Rugby Union bets for a trial period. The intent of the trial was to grow activity and liquidity in Rugby Union. After customer feedback we have now suspended this offer while we look at ways to improve the customer experience. We want to offer more initiatives like this to increase growth and liquidity. When doing this we need to canvas customer opinion prior to launch to ensure we have an optimal customer experience.

We appreciate your patience and feedback and look forward to working with you to make the Betfair experience a better one.

We will be rebating any Premium Charge paid in Rugby Union on bets placed and matched between 23rd of September to 2nd of October 14:10:00.(Time of announcement) including those that have yet to settle.

Please reach out to your Account Manager if you would like to participate in a future trial of this nature or have feedback on how it could be improved.

Regards

The Betfair Team

[maycontainnuts]

Some choice qoutes from the Betfair forum

Golden 02 Oct 13 15:09
Betfair's attitude was summed up for me with a conversation I had with the Premium Team, who told me the trial was being scrapped as they felt customers would 'abuse' it.

The only abuse is Betfair's abuse of their Monopoly.

subversion
Date Joined: 07 Aug 03
Add contact
02 Oct 13 15:53
they are afraid customers would 'abuse' it?

PMSL. customers being incentivised to act a certain way by betfairs absurdly overcomplicated charging structure is not the customers fault.

it is betfairs fault.

[PeterLe]

You couldnt make it up could you!

[andyfuller]

Just had an email from BF saying:

"On November 13 we will be bringing you a trial which will remove the Premium Charge you’re normally asked to pay from a number of markets. Initially this offer will cover all football markets in the Spanish Primera División and all Rugby Union markets in all countries.

You can take advantage of this trial for three months on football, and until June for rugby. If the trial proves successful, you might well see it extended; in terms of the range of sports, the markets included, and the length of the offer.

You don't need to do anything to take part in this trial; you will have the Premium Charge automatically removed. If you would like your betting on these markets to continue to be included for the purposes of Premium Charge, please contact your account manager (or the help desk), and you will be opted out of the trial."

Assuming others have got it/will get it.

Nothing like saying - when we (BF) need you please help us as we need you more than you need us but as soon as we (BF) don't need you any more you can F@ck off again