Betdaq charging 10% for some?

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jay6
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Joined: Wed Aug 12, 2009 2:19 pm

Someone in General Betting on the betfair forum saying they are being charged 10%. Seen it mentioned on twitter also.
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megarain
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Some automated traders, are charged a lot more.
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Euler
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Location: Bet Angel HQ

jay6 wrote:Someone in General Betting on the betfair forum saying they are being charged 10%. Seen it mentioned on twitter also.
Still a fraction of what Betfair charge
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aperson
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Joined: Thu Feb 07, 2013 5:23 pm

I was going to start a thread on this...

I recently received a call from them saying they were increasing my commission to a flat 5% and that I wasn't entitled to their usual commission discounts.

They basically said that they weren't getting enough out of me in commission as a percentage of my overall profits. They used the same justification as BF did regarding the premium charge i.e. that it costs them money to find losers to feed the winners. I was told that they felt a "fair" rate for them to receive was 25%. Although they kept on repeating they didn't want to introduce a premium charge this rate is very similar to the lowest PC rate, they are just going about getting the money in a slightly different way.

I assumed I was at the top end of this but it sounds like some have been hit a lot worse than me. It seems like a very strange move at this stage in their development to me.I got the impression they were under pressure to show profits, (maybe from Ladbrokes/Coral), but it seems a very short term move. Personally I have already started to reduce my activity on BD because of this.
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LeTiss
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I am absolutely gobsmacked that BD have gone down this path

Words literally fail me :(
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Euler
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Betfair could only get away with it because they didn't have a stronger competitor. Betdaq are not in a position to follow the same path.
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Dallas
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They certainly just gone and put themselves back a few years, after all the effort to get people to move across the prospect of this is really only going to put people off and certainly not encourage them.
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aperson
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Joined: Thu Feb 07, 2013 5:23 pm

They seem to have done a very quick U-turn. A few months ago they were offering 2% to people to offer their bets to the market. They scrapped that overnight and have now gone from charging less to successful traders', (presumably broadly speaking the people who seed their markets and increase liquidity), to charging them more.

It seem so short-sighted. It's not just them doing this per se but it's the fact that it shows their hand as to what route they want to go down if they ever become successful. It seems like a terrible PR move and very premature given how far behind BF they still are in pretty much every market outside horse racing.
MaGasq
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Joined: Fri Oct 07, 2016 6:27 am

They give me a call a few months ago, and tell me that they cannot stand with commision disccount anymore and will charge 7% :roll:

I think this is a tremendous mistake from betdaq and players are going away.

My markets was football and NFL and now I went to matchbook with 3% commission net win and with a much much much better liquidity.
Bye bye Betdaq and keep making players away from you
Last edited by MaGasq on Fri Oct 07, 2016 1:34 pm, edited 2 times in total.
Bluesky
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It doesn't seem to make any sense what BF did and now Betdaq appear to be doing something similar. Is it the case that what they would like to happen is that virtually everyone ends up more or less break even except for the commissions they pay?

To achieve this they need to make life difficult for the winning traders and hope to either drive them away with big charges, or make a lot of money from them if they decide to remain.

Is it not the case however that the winning traders tend to provide a great deal of the liquidity for the markets so if they leave there wont be much of a market. Am I missing something? I would have thought these companies would be smart enough to have thought all this through, but perhaps they haven't .
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Yasmingrace
Posts: 39
Joined: Tue Sep 27, 2016 4:43 pm

I opened a Betdaq account and deposited money. I was charged 10% commissions on all my bets and I'm not a high roller with big stakes. They also never gave me the advertised bonus as they claimed I had not put enough money through to earn enough bonus points. I just withdrew what was left and never used them again.
MaGasq
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Joined: Fri Oct 07, 2016 6:27 am

after talking with a betdaq´s "staff" i´m going to bet again there until the 50% commission refund is up
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Dave Angel
Posts: 46
Joined: Tue Feb 03, 2015 4:16 am

Anyone having problems with login and unresponsive back & lay buttons? (on main website)

I just got shafted lol :x

now the website is saying.....
"We're sorry, but your request could not be processed, please contact customer service at [email protected]."
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aperson
Posts: 205
Joined: Thu Feb 07, 2013 5:23 pm

Does anyone know if people on these higher rates are eligible for promo's still? BD offering 2% com for trading tool users currently. Has anyone on higher rates tried applying for this?
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