Transaction Charges Changes

News, chat and debate about the Betfair betting exchange.
Post Reply
LinusP
Posts: 1871
Joined: Mon Jul 02, 2012 10:45 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
eightbo
Posts: 2154
Joined: Sun May 17, 2015 8:19 pm
Location: Malta / Australia

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
Posts: 1871
Joined: Mon Jul 02, 2012 10:45 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.
User avatar
jamesedwards
Posts: 2234
Joined: Wed Nov 21, 2018 6:16 pm

Other than the increase from 1k to 5k per hour what is the different to today?
User avatar
ShaunWhite
Posts: 9731
Joined: Sat Sep 03, 2016 3:42 am

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.
User avatar
ShaunWhite
Posts: 9731
Joined: Sat Sep 03, 2016 3:42 am

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
Posts: 1871
Joined: Mon Jul 02, 2012 10:45 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.
User avatar
Derek27
Posts: 23475
Joined: Wed Aug 30, 2017 11:44 am
Location: UK

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?
User avatar
jamesedwards
Posts: 2234
Joined: Wed Nov 21, 2018 6:16 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?
User avatar
Euler
Posts: 24700
Joined: Wed Nov 10, 2010 1:39 pm
Location: Bet Angel HQ

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?
User avatar
ShaunWhite
Posts: 9731
Joined: Sat Sep 03, 2016 3:42 am

Euler wrote:
Tue Jun 30, 2020 9:16 pm
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?
It's natural but is it advisable? They're a long way from ideal partners but until there's an alternative I'm their biggest fan, even if it is through gritted teeth. Besides I want the exchange to grow so I try to emphasise the good and downplay the bad. If I thought being tough on them would help it do that instead, but I don't have that influence, so I'll carry on kissing their arse and accepting the perks however small. I can see how you're not so impressed after all you've done for them, but I'm still at the stage where a few promo gifts in the post or the offer of extra goodies in my api buys my allegence :)
User avatar
Euler
Posts: 24700
Joined: Wed Nov 10, 2010 1:39 pm
Location: Bet Angel HQ

I think it's so stark for me as I pay a tiny fraction of my Betfair commission to brokers and others in financial markets and get treated like a king. But the way they promote those who aren't successful and pay virtually no commission. You sort of end up funding that and it makes me feel uncomfortable as it feels little removed from a traditional bookie. Anyhow this is a completely different conversation I think.

I wasn't talking specifically about me anyhow. I just think they could do so much better. But I get your other points.
User avatar
ShaunWhite
Posts: 9731
Joined: Sat Sep 03, 2016 3:42 am

Comes down to competition I guess, brokers are 2 a penny but Betfair know they've got you by the short and curlys. There's a touch of taking established customers for granted and softening up new ones in most areas these days I'm afraid. Typically I'm just taking the opposite stance to most people, sometimes it works sometimes it doesn't.
spreadbetting
Posts: 3140
Joined: Sun Jan 31, 2010 8:06 pm

ShaunWhite wrote:
Tue Jun 30, 2020 9:55 pm
............ but I'm still at the stage where a few promo gifts in the post or the offer of extra goodies in my api buys my allegence :)
I've never been at the promo gift stage, what sort of goodies do you get in the post , Shaun.

I only recently had calls from my account manager because they were looking for people to provide liquidity in certain markets because of Corona shutting everything down.
eightbo
Posts: 2154
Joined: Sun May 17, 2015 8:19 pm
Location: Malta / Australia

Alright thanks Linus wasn't aware of that. Seems reasonable.
Post Reply

Return to “Betfair exchange”